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Virtual meeting in Germany become possible

On the 7th of July 2022 the Bundestag passed a new legal act “Law on the introduction of virtual general meetings of stock corporations and amendments to other regulations”, which came into force on the 1st of August 2022 and where virtual general meeting is to be introduced as a permanent regulation in the Stock Corporation Act. The amendments concern only stock corporation, limited partnership, European stock corporation and mutual insurance association types of companies.

In order to be able to opt to hold such a meeting, two important points need to be taken into consideration. Firstly, the articles of association shall clearly stipulate possibility of holding a virtual meeting.  Secondly, it needs to be ensured that shareholders are able to exercise their rights to the fullest extent in an online format, thus, a number of criteria such as the right to speak, the right to submit motions, the right to submit statements and a few others shall be fulfilled.