On 6 October 2011, the Parliament of Mongolia, the State Great Khural, adopted significant revisions to the Company Law of Mongolia (the “Revised Company Law” or “RCL”). The RCL came into effect on 21 November 2011, when the former Company Law ceased to be effective. The key features of the Revised Company Law are: – broadening of the personal liability of governing persons; – introduction of administrative sanctions for non-compliance; – stricter corporate governance rules; – changes in “major” and “conflict of interest” transactions provisions; – abolition of minimum capital requirements for companies; – introduction of closed joint venture companies. The enactment of the RCL is a step towards the government’s aim of bringing Mongolian corporate governance standards closer to those found in more developed jurisdictions. Nevertheless, the law remains under-developed by comparison. The lack of precision in the drafting will cause some uncertainly until market norms emerge, and it introduces some unexpected pitfalls that have the potential to deter rather than encourage trade and investment. To read the full article, click here: Mongolia – Revised Company Law
-
Mongolia in International Press & Media – Latest
- MongoliaConsults News: Neck & Neck enters Singapore & Thailand, & is preparing to enter Egypt, Kuwait & Saudi Arabia
- MongoliaConsults News: An Exhibition of Oil Paintings by Choindongiin Khurelbaatar
- MarketWatch / BusinessWire: NVMN – U.S. Government Recognizes Threat from Critical Lithium Supply Shortage
- TurkishPress: Turkish airlines launches flights to Ulan Bator
- East Asia Forum: Mongolia – electronic counting but no trust
- Reuters: SouthGobi jumps over 12% on Chalco interest
- 4-Traders: Resignation and Appointment of Non-Executive Director
- Reuters: Mongolia’s task – avoid Nigerian resource curse
- Mongolia Today: Steps toward New Government
- Scoop.co.nz: Media Personnel Attacked for Election Reporting in Mongolia
- Reuters: Chalco announces delay in bid for SouthGobi stake
- ProactiveInvestors: Chalco delays bid for SouthGobi stake
- Fox News / Dow Jones Newswires: Chalco Delays SouthGobi Bid by 30 Days
- Canadian Business / The Canadian Press: Ivanhoe Mines and Chalco agree to extend Chinese takeover bid of SouthGobi
- Bloomberg: Mongolia Energy Slumps to Lowest in Five Years
Mongolia in International Press & Media – Archives
- All news, articles and video materials uploaded hereto derive from Open Sources. If their titles are sometimes modified for better understanding and / or appearance, their contents remain as delivered on the actual websites or internet-based resource facilities of the respective institutions that published them, and, therefore, MongoliaConsults LLP is not responsible for their contents. Furthermore, the views and opinions expressed in the news, articles and video materials, thus shared herein, are the views and opinions of their respective authors and do not necessarily reflect those of MongoliaConsults LLP. Likewise, the news, articles and video materials shared herein do not constitute an endorsement from MongoliaConsults LLP, neither they shall be viewed as tax, legal, business and / or any other form of investment advice, recommendation or solicitation by MongoliaConsults LLP, nor as its directional outlook on the stock markets or stocks.