Examples of Spanish Companies Act in a sentence
Under the Consolidated Spanish Companies Act, 10% of net profit for each year must be transferred to the legal reserve until the balance of this reserve reaches at least 20% of the share capital.
This reserve has been set aside under the terms of Article 274 of the Spanish Companies Act, which establishes that companies must in all cases allocate an amount equal to 10% of their profits for the year to this reserve, until the total reaches at least 20% of the share capital figure.
This (or these) shall hold powers to represent the company jointly and severally within the necessary scope as established by article 129 of the Spanish Companies Act, and the scope specified in article 24 hereof, in the manner designated.
Shareholders may group together in the proportion required under article 137 of the Spanish Companies Act in order to appoint individuals to sit on the Board.
The Board of Directors may resolve an incomplete subscription of the share capital increase and declare the share capital increased in the amount effectively subscribed in accordance with article 311 of the Spanish Companies Act.