2024 Company Law · board authority · company chops
The 2024 Company Law rewrote core governance rules — and expanded the duties and liabilities of directors, supervisors, and the legal representative.
The 2024 Company Law (effective 1 July 2024) tightened capital-contribution timelines, added new requirements around related-party transactions and board procedures, and made it easier to pierce the corporate veil. A governance structure adequate under the old law may no longer protect your directors and officers.
We advise on board and shareholder meeting procedures, legal-representative authority and liability, and the uniquely Chinese issue of company chops (公章 / 法人章 / 财务章) — in China the functional equivalent of the company's signature. We design dual-custody protocols and manage disputes when a departing legal representative refuses to surrender the chops.
Reference: Company Law (rev. 2024)
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