On
June 15th the Department of International Law
held the second virtual meeting on the
Model Law on the Simplified Corporation (SAS
Model Law). Participants included
government-appointed Focal Points for the SAS
Model Law, legal experts in the field and
representatives from various Permanent Missions
to the OAS (Argentina, Brazil, Colombia,
Ecuador, Mexico, Panama, Paraguay, Peru and
Uruguay were represented).
The meeting featured a presentation by Ms. Monica Canafoglia and Ms. Marianela Bruno Pollero, Legal Officers with the secretariat for the United Nations Commission on International Trade Law (UNCITRAL); as Ms. Canafoglia serves as the secretary for UNCITRAL Working Group I on Micro, Small and Medium Enterprises (MSMEs), their joint presentation outlined the relevant work of UNCITRAL in this area, specifically the draft Legislative Guide on the UN Limited Liability Organization and its relationship to the SAS Model Law. The event also served as a forum for participants to share any new developments, lessons learned, and comments on the
recent report on the status of reforms in the region.
This event was the second
in a
series of virtual meetings that are planned
to be held approximately once each year to
provide an opportunity for dialogue and to
encourage horizontal cooperation as the regional
network of Focal Points is expanded and
strengthened. Participants have been asked to
stay abreast of the status of reforms in their
respective countries and to provide comments on
possible future work, including a legal
instrument to simplify dissolution of companies,
a topic that has been under consideration by the
Inter-American Juridical Committee.
In furtherance of the
mandate from the OAS General Assembly to
disseminate the SAS Model Law as widely as
possible (International Law, AG/RES. 2906), the
Department of International Law had requested
that each Member State consider the appointment
of a Focal Point to enable a channel of
communication between the OAS and those offices,
ministries or bodies responsible for the
modernization of corporate legislation and
simplification of business incorporation (Verbal
Note OEA/2.2/27/18). It is hoped that in due
course this emerging network of Focal Points
will be enhanced and strengthened to serve in
the effective dissemination of the SAS Model Law
throughout the hemisphere.
» To visit the DIL’s web page on Simplified Corporations, please
visit our Website.
