Page 234 - Albanian law on entrepreuners and companies - text with with commentary

REPEALED Article 230
Continuation of Company Operation and the Duty to Adjust to this Law
(1) When the present Law enters into force, existing companies shall continue to
operate in the manner and under the conditions which were valid at the time of their
registration.
(2) Within 3 years after this Law entered into force, companies shall bring their
organization and operation in line with the provisions of this Law.
(3) Companies which fail to act in conformity with paragraph 2 shall be dissolved,
and the National Registration Centre shall cancel them upon completion of liquidation
proceedings.

REPEALED Article 231
Procedures in Progress
If the procedure of formation or of change of a founder, shareholder or member of a
company, as well as the election of organs, adoption of by-laws and other organisation
procedures were under way on the day this Law enters into force, these procedures shall be
completed in conformity with the present Law.

Article 232
Laws to be repealed

Law No. 7512 of 10.08.1991 “On Sanctioning and protection of private property,
free initiative, independent private activities and privatisation”, Law No. 7632 “On the
General Part of the Commercial Code” of 4.11.1992, Law No. 7638 “On Commercial
Companies” of 19.11.1992, are repealed.

Article 233
Entry into Force
The present Law shall enter into force 15 days after its publication in the Official
Gazette.

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