The Saeima has adopted and promulgated by the President following the law amendments to the law "On limited liability companies" make law "on limited liability companies" (the Republic of Latvia Supreme Council and Government Informant, 1991, 9/10, 23; 1992, 22/23.nr./24.nr.; The Saeima of the Republic of Latvia and the Cabinet of Ministers rapporteur, 1995, no. 3; 1996, no. 21) the following amendments: 1. Express article 39, the first paragraph by the following: "1. the Member shall hold an ordinary meeting of the society's Executive Body annually not later than four months after the end of the year, but companies that exceed the scope of the law" on the annual accounts of companies "in the second paragraph of article 24, the criteria listed in, and the company, which is the parent company, not later than seven months after the end of the year."
2. To make the first paragraph of article 41-paragraph 6 by the following: "6) cancel or withdraw from Office and appoint or elect to the Executive Body and the members of the Audit Commission (Auditor), or a certified auditor, to decide on the claim being brought against them or a waiver, to decide on the company's executive remuneration;".
3. Article 47: make the first paragraph by the following: "1. the firm controls the Audit Commission (Auditor) or sworn auditor, as well as permanent or temporary Commission separate questions.";
to supplement the article with the fourth paragraph by the following: "4." Those companies that are exempt from the certified auditor audits the Audit Commission (auditor's) election is a must. "
4. Express article 48 the following: ' article 48. Certified auditor or auditing Commission (Auditor) not later than 1 month before the current meeting of members of the public shall notify the Executive Body to the sworn auditor or Audit Committee (Auditor) that the company's annual report, balance sheet and concluded the documents available for inspection.
2. A sworn auditor or auditing Commission (Auditor) have the right to view and audit all public property and verify all the company's activities.
3. Certified Auditor or Audit Committee (Auditor) shall have the right at any time to take immediate control and inspection measures. They may invite experts or specialist and is responsible for them. About pieaicināmaj persons sworn auditor or the Audit Commission (Auditor) shall report to the executive body of the company, as well as the remuneration of outside persons, in coordination with the Executive.
4. Certified Auditor or auditing Commission (Auditor) of the company must be reported to the Executive Body and the meeting participants for perceived failures and violations of the Executive Body and its subsidiary organs.
5. Audit Committee (Auditor) seven days before the current meeting of members shall be submitted to the executive body of the public report on the annual report of the test results. Report to the executive body of the participants read statements during the current meeting.
6. the audit of the sworn auditor in accordance with the law "on the annual accounts of companies ' requirements, drawing up an opinion, which is the executive body of the company, along with their explanations, and the annual report shall be submitted to the current meeting of the participants.
7. Certified Auditor or auditors the members of the Commission (Auditor) shall carry out their work in accordance with the applicable laws and regulations. They charge the public and third parties for losses due to erroneous or unlawful her activities. Sworn auditor or auditors the members of the Commission (Auditor) responsible for the company's executive body and its subsidiary organs, except when they're for these infringements, sure, but not advised. "
5. To supplement the law with article 51.1 by the following: ' article 51.1. The procedure of liquidation companies whose share capital does not meet the requirements of the law society, the size of the share capital of which do not meet the requirements of the law, is in liquidation law "on business".
Transitional provisions with the entry into force of this Act shall terminate the constitutional order of article 81 of Cabinet of Ministers issued Regulation No. 123 "amendments to the law" on limited liability companies "(Latvian Saeima and the Cabinet of Ministers rapporteur, 1997, no. 9) and Regulation No. 132" amendments to the law "on limited liability companies" (Latvian Saeima and the Cabinet of Ministers rapporteur, 1997, no. 10).
The Parliament adopted the law of 21 May 1997.
The President g. Ulmanis in Riga, 4 June 1997, in