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COUNCIL OF LAWS EXPLANED HOW TO ADJUST PART IN AO

The Bar Council has clarified the procedure for alienating a share in the statutory capital of a bar association.
The relevant decision No. 170 was adopted on December 13, 2019.
Article 15 of the Law on Advocacy and Advocacy defines that a bar association is a legal entity created by the association of two or more attorneys (participants) and acts on the basis of a statute. State registration of a law association is carried out in accordance with the procedure established by the Law “On State Registration of Legal Entities and Individuals – Entrepreneurs”.

The Bar Association shall be notified in writing within 3 days from the date of entry of the relevant information in the Unified State Register of Legal Entities and Entrepreneurs. Lawyer activity in Ukraine is an independent professional activity of a lawyer in defense, representation and other legal assistance to a client.
The procedure for the formation, activity, reorganization and liquidation of bar associations, the structure, functions, the procedure for spending money, the rights and responsibilities of governing bodies, the procedure for their election and other matters pertaining to their activity, are regulated by the statute of the respective association.
If the law firm does not have registered capital and it is unincorporated, then the order of the participant’s exit must be specified in the statute of the respective law association.
If the law firm has a share capital that is divided into shares between participants, the alienation takes place as prescribed in the statute of the respective law firm, and in accordance with civil law.
Documents required for state registration of changes to information about a legal entity contained in the Unified State Register of Legal Entities, Individual Entrepreneurs and Public Formations, including the alienation of a share in the authorized capital referred to in para. 1 h. 4 tbsp. 17 of the Law “On State Registration of Legal Entities, Individuals – Entrepreneurs and Public Formations”.

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