RG IGJ 2/2024: the corporate purpose may be plural, without connexity
General Resolution IGJ 2/2024 (31/1/2024) eased the corporate purpose: it may be made up of a set of categories of legal acts, indicated in a precise and specific manner, without those categories needing to be connected to one another.
What it regulates
It regulates how the corporate purpose is drafted in the incorporation instrument before the IGJ, reversing the restrictive interpretation that required a single purpose and connected activities.
- Amends art. 67 of RG 7/2015: the purpose may be plural (several categories of acts), precise and specific, without requiring connexity.
- Repeals art. 68 of RG 7/2015, which limited the purpose to single and connected activities.
- Enters into force on the day following its publication.
Official source: RG IGJ 2/2024 — Boletín Oficial (Official Gazette) (31/01/2024)
Commentary
It is a very practical change when incorporating: it allows several activities to be provided for in the purpose without the risk of an objection for 'lack of connexity'. It gives flexibility to projects that combine different lines of business.
Even so, the purpose must remain precise and specific (art. 11, subsec. 3, LGS): plural does not mean unlimited or vague.
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