CAPITAL DOCTRINE IN THE EUROPEAN UNION – A LESSON TO LEARN FROM FINLAND?
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Abstract
The aim of this article is to analyse the legal capital doctrine in the European Union with a comparative
method of analysis. Slovak legal system represented by the Slovak Commercial Code served us as
the traditional model of the capital doctrine in the European Union. On the other hand, Finland and its
Finnish Limited Liability Companies Act served us a model jurisdiction for enlightened model of the capital
doctrine in the European Union. The analysis was conducted on the public limited liability companies, as
the scope of the Capital Directive covers only this type of company. The main aim of the article was to
analyse the specificities of the Finnish capital system which introduced the capital system with shares
without nominal value through the company law reform in 2006. Moreover, the article deals with inconsistencies in the Slovak legal system caused by the inexact transposition of the Capital Directive into the Slovak Commercial Code.
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