TFL Vsebine / Pravni letopis

Od uveljavitve prenovljenega Zakona o gospodarskih družbah – ZGD­1 naprej lahko delniške družbe prosto izbirajo med dvotirnim in enotirnim sistemom upravljanja. Za izbiro normativno dograjenega enotirnega sistema so se verjetno najlažje odločile tiste družbe, ki že pred tem niso bile dolžne oblikovati nadzornega sveta, kar pa so bili le redki primeri. Druge družbe morajo oceniti, ali in koliko je zanje primernejši prehod iz dosedanjega dvotirnega na enotirni sistem upravljanja. Avtor v prispevku zagovarja tezo, da je enotirni sistem primeren predvsem za nejavne družbe s koncentrirano strukturo delničarjev, v katerih imajo močni delničarji interes, da se aktivneje vključijo v upravljanje tako na strateškem kot na operativnem nivoju. Enotirni sistem bi lahko bil zelo primeren za hčerinske družbe v dejanskem koncernu, vendar pa je težava v tem, ker naš zakon zahteva, da ima upravni odbor vsaj tri člane.

From the enactment of the amended Companies Act – ZGD­1 on, Public Limited Companies can choose between the two­tier and one­tier management systems. The companies which were not beforehand obliged to form a Supervisory Board very often decided to choose the standard one­tier system, but this was rarely the case. Other companies have to assess whether and to what extent is the transfer from the previous two­tier to one­tier management system more appropriate for them. The author of the contribution advocates a thesis that the one­tier system is adequate, especially for non­public companies with a concentrated shareholder structure, with strong shareholders interested in being included more actively into the management at the strategic as well as the operative level. The one­tier system could be very appropriate for subsidiaries in the actual concern, but the problem is that our legislation demands for the management board to consist of at least three members.

Adequacy of Conversion of Public Limited Company from a Two-tier into a One-tier Management System