Companies registered with the IGJ
In 2020, the General Inspectorate of Justice (IGJ) issued General Resolution IGJ 11/2020 in order to authorize, under certain requirements, the remote holding of meetings of the administrative or governing body of companies, civil associations or foundations, even when not provided for in the bylaws and while the free movement of people in general is prohibited, limited or restricted as a consequence of the state of sanitary emergency declared by the National Executive Power..
As of July 15, 2022, by means of the General Resolution IGJ No. 8/22 (RG) the IGJ established the end of the aforementioned exception period provided for in RG IGJ 11/2020 for the holding of meetings of administrative or governing bodies held at a distancefor those who in those cases in which the bylaws do not provide for them.
It also provides for their admission up to 60 administrative business days after the date of publication of the RG (12/10/2022).
It is important to mention that, upon expiration of such term, companies, associations and foundations that do not contemplate the possibility of holding meetings or assemblies at a distance in their bylaws will not be able to hold them remotely or virtually.
In many cases, virtual meetings are a very useful digital tool for the majority of companies, foundations and civil associations, then many shareholders for different reasons, distance, habit or practicality, continued to meet and adopt corporate resolutions through remote meetings, even when their bylaws did not contemplate such possibility and because RG IGJ 11/20 allowed it.
RG IGJ 11/2020 arose as a solution to the need to adopt valid corporate resolutions during the pandemic unleashed by SARS-CoV-2 and the health emergency decreed by the National Executive Power in which it was decreed, during the year 2020 the Mandatory Preventive Social Isolation and then at the end of said year and during the year 2021 the Preventive and Mandatory Distancing, both in order to avoid contagion and the spread of the mentioned virus.
At Andersen in Argentina, we advise on the incorporation of distance meetings in the bylaws of corporations, associations or foundations; we have the experience and specialized team to achieve such reform and its registration.
