The executive branch authorized signatures Villa Luz SA, Cloverly SA South and Forestry SA to maintain ownership of certain rural properties despite being joint stock companies with bearer shares.
In 2007 a law was passed requiring that the shares are registered but leaves the door open for companies to apply for derogations in certain circumstances and thus maintain ownership of their property and / or agricultural exports as corporations.
Since 2008 the Executive has awarded 29 licenses to companies to remain under the previous regime, according to the decisions published on the website of the Presidency.
This year alone there were nine permits, less than the 20 that were awarded in 2008.
In addition to Villa Luz SA, SA Cloverly South and Forestry SA so far, 2009 is allowed Salus Company to maintain ownership of their buildings, just to Milagro SA and Zephyr SA and their farm and the same to Fabrica Nacional de Papel SA
There was also an endorsement from The Eucalyptus to acquire part of several rural properties keeping your Company Profile to Tursel SA is the owner of 13 buildings, just to Salteña Citrus SA Ponte Tresa and Agricultural Limited Liability Partnership.
To these are added permissions to Kalizar Limited Partnership by shares, and Uruguay Adecoagro Limited Liability Partnership, according to decrees issued.
The law stated that 18,092 executive branch, at the request of the signatures may give permission to “both the ownership of rural properties, as well as farms, is exercised by limited liability companies or companies limited by shares, in both cases share capital represented by bearer shares, when the number of shareholders or the nature of the business prevents the equity was represented by shares owned by individuals.
If the dimension is increased must request a new authorization.
Executive Signs Exceptions for Landowners to Hold Bearer Shares
The executive branch authorized signatures Villa Luz SA, Cloverly SA South and Forestry SA to maintain ownership of certain rural properties despite being joint stock companies with bearer shares.
In 2007 a law was passed requiring that the shares are registered but leaves the door open for companies to apply for derogations in certain circumstances and thus maintain ownership of their property and / or agricultural exports as corporations.
Since 2008 the Executive has awarded 29 licenses to companies to remain under the previous regime, according to the decisions published on the website of the Presidency.
This year alone there were nine permits, less than the 20 that were awarded in 2008.
In addition to Villa Luz SA, SA Cloverly South and Forestry SA so far, 2009 is allowed Salus Company to maintain ownership of their buildings, just to Milagro SA and Zephyr SA and their farm and the same to Fabrica Nacional de Papel SA
There was also an endorsement from The Eucalyptus to acquire part of several rural properties keeping your Company Profile to Tursel SA is the owner of 13 buildings, just to Salteña Citrus SA Ponte Tresa and Agricultural Limited Liability Partnership.
To these are added permissions to Kalizar Limited Partnership by shares, and Uruguay Adecoagro Limited Liability Partnership, according to decrees issued.
The law stated that 18,092 executive branch, at the request of the signatures may give permission to “both the ownership of rural properties, as well as farms, is exercised by limited liability companies or companies limited by shares, in both cases share capital represented by bearer shares, when the number of shareholders or the nature of the business prevents the equity was represented by shares owned by individuals.
If the dimension is increased must request a new authorization.