08 Mar Authority of the Superintendency of Companies
We explain about the Authority of the Superintendency of Companies in Ecuador, in Any Weather.
COMPANY LAW.
Art. 24.- Whenever the Superintendency of Companies deems it convenient, it may require from companies not subject to its supervision, such data and information as it deems necessary.
Art. 25.- If the Superintendent does not receive in due time the documents referred to in the preceding articles, or if they do not contain all the required data or are not duly authorized, he shall impose a fine on the administrator of the remitting company in accordance with Art. 457 of this Law, unless before the expiration of the term the respective extension has been obtained from the Superintendent, due to the impossibility of submitting such documents and data in due time. Authority of the Superintendency of Companies
The fine may be repeated until the required obligation is duly complied with. If within thirty days after the expiration of the respective terms, the Superintendent does not receive, due to lack of pronouncement of the general meeting of shareholders or partners, the referred document, he shall impose on the company a fine of fifty to five hundred sucres for each day of delay, until the due presentation of the same. The fine may not exceed the amount established in Art. 457 of this Law.
The Superintendent may require the presentation of the annual balance sheet and the statement of the profit and loss account of a company subject to his supervision, after the first quarter of the year has elapsed, even if such documents have not been approved by the general meeting of shareholders or partners. Likewise, at any time, the Superintendent may request that a company subject to his supervision submit to him its balance sheet as of a certain date. This The balance sheet must be delivered within fifteen days of the Superintendent's order, subject to the same penalties provided for in the preceding paragraphs, unless the company, for justified reasons, has obtained an extension of the term.
EN 
ES 
FR