This article was contributed by ILN member Lidings Law Firm.

On December 30, 2008 several important changes were introduced into the Federal Law “On limited liability companies” which comes into force starting from July 1, 2009. The importance of these changes is caused by the necessity of amending the by-laws of all existing limited companies to make them compliant with the new Law. Beginning from July 1, 2009 articles of association and foundation agreements of companies will be applied only in the part, which does not contradict the new norms.