Monday, February 13, 2006

English Translation of the New Swedish Companies Act

I have checked when a translation into English of the text of the new Swedish Companies Act may be available.

The Swedish Ministry of Justice is not going to do an official translation.

However, the Swedish book publishing firm of Norstedts (in Swedish only I'm afraid) will produce an English translation, which probably will by ready sometime this spring. It will be published as part of their publication Swedish Commercial Legislation (ISBN 91-38-55182-9) but also as a separate book.

Time of Registering Shares

Old Swedish Companies Act
According to Chapter 3 Section 13 of the old Swedish Companies Act the following used to apply:

If the share register of a company was maintained by electronic data processing, a print-out of the share register setting forth the circumstances ten days prior to a shareholders’ meeting should be made available to the shareholders at the meeting. From a practical point of view you then had to be registered in the share register at least ten days before the shareholders' meeting.

New Swedish Companies Act
According to the new Swedish Companies Act, Chapter 7 Section 28, the earlier ten day period has been changed to a five day period instead. In addition, the articles of association of the company may prescribe an even shorter period of time.