The BEA (Athens Chamber of Commerce) informs its members for publication of balance sheets
As has already become known, with the amendment introduced by n.4072/2012, the Limited Companies, but also some LLCs, now have the possibility to publish balance sheets, on their website, instead of in the newspapers.
Since the implementation of this new regulation also depends on the GEMH Service and is subject to formal conditions for it to be valid, we recommend the publication of the matter through the B.E.A. website and the B.E.A. Bulletin ( for the second time), as well as sending e-mails directly to our member companies, for quick and immediate information. The relevant Announcement - Update will be as follows:
"IMPORTANT UPDATE FOR CORPORATIONS AND LIMITED LIABILITY COMPANIES"
The SAs that have self-registered and submitted their supporting documents to the G.E.M.I Service of the BEA, now have G.E.M.I. as their Registry.
This gives them the right to replace the publication of their balance sheets in newspapers with the publication (posting) on their website. Publication in the Official Gazette is still mandatory.
In order to do this legally, they must necessarily have declared their website (website) in GEMH. If they have not already done so during their census, they must request the registration now, with an application that they will find at the Registry Service - G.E.M.H. and on the B.E.A website (€10 fee for the registration).
Companies should bear in mind that every time they post a balance sheet on their website, they must also notify the GEMH Service, given that according to the law, "the deadlines associated with the publication in other printed media , start or end, from the day the company announces to G.E.MH the posting on the website, otherwise it is considered overdue and faces the nullity of the acts".
CAUTION!! The website must be exclusively of S.A. not representative, accountant, shareholders, etc.
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We also note that the abolition of the publication of financial statements in newspapers was established by law 4072/2012 Improvement of the business environment − New corporate form − Trademarks − Real estate agents − Regulation of shipping, ports and fishing issues and other provisions (Government Gazette A' 86/11-04-2012)
Specifically with article 232
Article 232. Limitation of S.A. obligations. and Ltd. for publication of acts and data
1. Where in Mr. 2190/1920 and in n. 3190/1955 publication in other printed media is foreseen, except for the Official Gazette/TAE-EPE and G.E.MH., this can be replaced by posting the published acts and information on the company's website, as long as this address is registered in the Company's Division . For the posting of the above actions and information on the company's website, the relevant Registry is informed without delay. Deadlines linked to publication in other printed media than the Official Gazette/TAE-EPE and G.E.MH. they are considered to start or end from the day the company announced to the relevant register the posting on the website.
2. If the company does not maintain a website or has not registered it in its Division, the publications of the previous paragraph are carried out, in addition to the Official Gazette/TAE-EPE and G.E.MI., and in a daily financial newspaper of nationwide circulation.
Relevant explanatory statement:
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ARTICLE 232 – LIMITATION OF LIABILITIES S.A. AND LTD. FOR PUBLICATION OF DEEDS AND DETAILS
A constant request of the Greek business world is the abolition of the mandatory publication of the acts and details of SAs and LLCs through the press. The annual costs incurred by companies operating in our country with the corporate form of the anonymous company or the limited liability company have been calculated to be on average around 3,000 euros, acting as a barrier to their competitiveness. In addition, the information reasons of the traders, which the relevant regulations served, are now satisfied through the free access to FEK/TAE-EPE & G.E.MH. but also of the imminent (within 2012) full activation of the General Commercial Register, in which from now on all information published by law will be published and will be accessible to the public without delay.
In view of the above, it is considered appropriate to amend the relevant provisions of the law 2190/1920 and of n.3190/1955 on mandatory publication through the press, so that the relevant obligation is now limited to the submission of these to the public of the General Commercial Register, to their publication in the Official Gazette/TAE-EPE & G.E.MH. and in the posting of the relevant acts and data on the company's website. For reasons of legal certainty and in order to be able to determine the actual date of publication of the deed via the internet, the liable company must inform GEMH, by any suitable means, of the posting on its website. The proposed regulation serves equally the purposes of reducing administrative costs and providing adequate and effective information to interested parties. In any case, as long as the liable company does not maintain a website or has not notified it to GEMH, the publication will take place, in addition to the Government Gazette, in a daily economic newspaper.
Also, with the bill "Investment tools for development, provision of credits and other provisions" which is in the parliament to be voted on, the obligation to publish in newspapers also the interim financial statements (quarterly etc.)
Specifically, the draft law that is expected to be passed in the next few days provides for:
Explanatory report
Article 16- Modification of 3556/2007
Article 16 abolishes the obligation to publish interim financial statements in newspapers. According to. 4072/2012 (A'86), the obligation of par. 4 of article 135 of the c.n.2190/1920, for the publication in newspapers of the data and information resulting from the annual financial statements of the companies, which apply the International Accounting Standards adopted by the European Union, is covered by the posting of these data on the website of the companies. In addition, for companies listed on an organized market, the obligation to publish the data and information of the six-monthly and quarterly financial statements in accordance with par. 8 of article 21 of the law is also imposed. 3556/2007. However, and given that the obligation to publish these data in newspapers is abolished from the 2012 financial year, harmonization must also be done with the data of the interim periods. Given that the information of the interim periods must be provided by law 3556/2007 to be posted on the publisher's website, full harmonization is achieved by repealing paragraph 8 of article 21 of Law 3556/2007.
SOURCE:https://www.taxheaven.gr/news/news/view/id/12872