The new Act 19,288 provides a mandatory winding up system for non-registered bearer share corporations, which have not complied with the applicable laws within the legal terms. The Act regulates a special liquidation proceeding and also contemplates the case of those unregistered shareholders, which did not register before the Uruguayan Central Bank. This Act is intended to eliminate those corporations whose shareholders remain anonymous in tune with the OECD´s terms of transparency.
