Roche & Cie

limited companies. Now from 2 shareholders

Ordinance No. 2015-1127 of 10 September 2015 now allows for companies that are not listed, the creation of joint stock companies with a minimum of 2 shareholders.

These provisions are effective as of September 12, 2015.The order was ratified by a law of 10 May 2016, and published the next day.

The number of shareholders in public companies was set at seven (7) from an Act of 23 May 1863 and had not been changed since.

Yet for many professionals, it was not justified and only had the effect of forcing the founders to find appeasement shareholders. It is for this reason that the law to simplify business life of 20 December 2014, empowers the government to change the minimum number of shareholders by way of order.

Only public companies whose securities are admitted to trading on a regulated market (known listed companies) have yet to have a minimum of seven partners.

The objective of the measure is to promote the creation of joint stock companies, which offer greater protection to minority shareholders.

The creation of a single-member limited company was not planned.
Companies whose securities are admitted to trading on a regulated market (stock exchange listing) are not affected.