On March 19, the Ministry of Commerce, Industry and Commerce issued Decree 434 of 2020 to mitigate the economic effects of the coronavirus COVID-19 and contribute to the efforts to contain and prevent the risk of contagion through the following measures:
- The term for the renewal of the mercantile registry, the RUNEOL and other registries that make up the RUES is extended, until July 3, 2020.
- Natural persons and legal entities, national or foreign, domiciled in Colombia, interested in participating in contracting processes with state entities, must be registered in the single registry of bidders (“RUP” for its Spanish acronym), with the exceptions provided for in the law. The natural persons and legal entities registered in the RUP must submit the information to renew their registration no later than the fifth business day of July 2020.
- The renewal of the affiliation to the Chambers of Commerce must be carried out no later than July 3, 2020.
- The ordinary assembly meetings corresponding to the fiscal year 2019 referred to in article 422 of the Commercial Code may be held until one month after the end of the declared health emergency in the national territory. If not called, the assembly will meet in its own right the business day following the month previously referred to, at 10 a.m., in the offices of the main domicile where the administration of the company operates. The administrators will allow the exercise of the right of inspection to the shareholders or their representatives during the fifteen (15) days prior to the meeting.
- The Decree adds that all legal entities, without exception, will be empowered to apply the rules provided for conducting in-person, virtual or mixed meetings of their collegiate bodies.