The crane manufacturer Palfinger, the Plant engineering Andritz, the fiber manufacturer Lenzing or die Post AG – They postponed or canceled their general meetings because the corona pandemic bans a meeting and they do not want to endanger the health of their managers, supervisory boards and shareholders.
However, the problem does not only affect listed companies, but all public limited companies, limited liability companies, private foundations, cooperatives, associations, banks, savings banks and insurance companies. All of these legal forms have bodies that must make decisions for societies to function. In some cases, meetings are legally mandatory within certain deadlines.
Now has Minister of Justice Alma Zadic created the “Covid 19 Law under company law”, which gives companies the opportunity to postpone the annual general meetings until the end of 2020 or to hold “virtual meetings”.
“It is imperative that companies keep going even in times of crisis and the exit restrictions remain able to act and take the necessary decisions, ”said Justice Minister Zadic to the COURIER. “That is why we have provided relief here in company law. For example, GmbH
or stock corporations meetings of supervisory boards, managing directors and shareholders Video conferencing hold. “
Each participant must speak in this video meeting and be able to take part in the vote. If there are doubts about the identity of a shareholder, he must present his photo ID to the camera hold.
And should when transferring the video conference If technical connection problems occur, the virtual meeting must be interrupted until all participants have a connection again. If participants do not have a corresponding internet connection, a maximum of half of the participants can participate by telephone Zadic if the identity is established beyond any doubt.
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