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June 2021

Virtual Meeting on the Model Law on the Simplified Corporation

Virtual Meeting on the Model Law on the Simplified Corporation

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.


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