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Company Law
The drafters of Macedonia's 2002 Company Law set out to reduce the complexity of the company law in part by reducing the overall size of the legislation. However, the effort to reform the 1996 Law was incomplete. Other entities governed by the 1996 Law (sole proprietorships, general and limited partnerships and limited partnerships by shares) were not reviewed or revised. The general provisions of the 1996 Law were not reconciled with provisions contained in the 2002 Law leading to inconsistent provisions covering similar if not the same issues.
Moreover, the process used to ensure passage of the law was flawed. At the urging of the Minister of Economy, the draft text was assembled and passed through Parliament on an urgent basis within one month. There were no public discussions or critical reviews of the draft law. In the rush to passage, poorly translated provisions were incorporated verbatim, incorrect cross-references within the law were left uncorrected.
(Note: This information was taken from the Company Law chapter of the 2003 Macedonia BizCLIR report. For more information, please see the report.)
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