Implementation and scope

Greek Codified Law no 2190/1920 (“Company Law”) is the Greek law regarding public limited liability companies, which take the form in Greece of “Ανώνυμη Εταιρεία” (or “Anonymi Etaireia”). For the purposes of this chapter, Greek public limited liability companies under the form of “Ανώνυμη Εταιρεία” or “Anonymi Etaireia” will be referred to as “limited liability company”.

The Second Company Law Directive was incorporated into the Greek Codified Law no 2190/1920 by Presidential Decree 409/1986. The amendments to the Second Company Law Directive introduced by (i) Directive 92/101/EEC of 23 November 1992 and (ii) Directive 2006/68/EC of 6 September 2006 were incorporated in the Greek Company Law by virtue of (i) Presidential Decree 60/2001 (Government Gazette 51A 2001) and (ii) Law 3604/2007 (Government Gazette 189 A/2007) respectively.

The Second Company Law Directive allows the Member States to exclude from its scope of application investment companies with variable capital (so-called open-ended investment companies) and cooperatives that take the form of a public limited liability company. The Company Law does not expressly state that the Law does not apply to open-ended investment companies. Therefore, if such an investment company takes the form of a Greek limited liability company, the provisions of the Company Law will apply.