QCOSTARICA – A bill aims to give more legal guarantees for investors holding less than 20% of shares in companies.

The bill 19,530 also provides that “… Companies classified as large companies, as classified by the Ministry of Economy, Trade and Industry (Ministerio de Economía, Industria y Comercio – MEIC), and companies whose shares are registered in the National Registry of Securities and Intermediaries (Registro Nacional de Valores e Intermediarios), and which trade through an authorized stock exchange , must adopt corporate governance policies approved by the board or equivalent body, which must include at least:

the requirement that any transaction involving the company, acquisition, sale, mortgage or pledge assets of this with the general manager, with any member of the board or related parties must be previously reported to the Board by whoever is involved in the transaction, providing all information on the interest of the parties involved in the transaction.

Source: Centralamericandata.com

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