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HomePublicationsLegislation newsObligation of using corporate seals by companies is cancelled

Obligation of using corporate seals by companies is cancelled

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There was a significant event in April 2017 – publication a long awaited law which cancelled companies’ obligation to use seals on their official documents. This law was adopted by the Verkhovna Rada in March 2017 but it will come into force only in 3 months after its publication.

The main novelty is change of 58-1 article of Economic code of Ukraine. Now it says that using of seals by entrepreneurs doesn’t obligatory requirement. Lawmaker goes on and details that seal can’t be demanded as an obligatory term for documents. Copies of documents are certified if there is a signature of authorized person or a signature of entrepreneur. A state body mustn’t demand a notary certification of copies, except cases when this requirement written in law.

So it doesn’t matter for legal consequences whether there is a seal.

Production and realization of seals for entrepreneurs mustn’t be licensed or whatever according to the old rules and to the new ones. Also this law cancels requirements of seals which are regulated by other laws and obliges ministries and other state executive bodies to put their acts in accordance with it.

There is a liability, which is provided by 166-24 article of Code of Ukraine on administrative offences, for infringement of the new clause. If officials demand seals on documents or notary certification of copies from entrepreneurs (except cases when seals is required by laws) then there are fines from 50 to 100 minimal wages.

Views: 2626