A man walks past Parliament of Catalonia building in Barcelona, Spain, October 5, 2017. REUTERS/Yves Herman
October 5, 2017
MADRID (Reuters) – The Spanish government will approve a decree on Friday making it easier for companies to transfer their legal base out of Catalonia, two sources said, a move that could deal a serious blow to the region’s finances as it considers declaring independence.
The new decree is tailor-made for Spanish lender Caixabank <CABK.MC>, sources familiar with the matter said, as it would make it possible for the bank to change its legal and tax base without having to hold a shareholders’ meeting as stated in its statutes.
“The government is working on changing the law so that it’s no longer needed to have a shareholders’ meeting, which would delay a change of the legal base in a case of emergency,” one of the sources said.
The government and Caixabank declined to comment.
(Reporting by Carlos Ruano, writing by Julien Toyer; Editing by Adrian Croft)
source https://capitalisthq.com/exclusive-spain-to-make-it-easier-for-firms-to-transfer-legal-base-amid-catalan-crisis/
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