Pridobivanje delnic obvladujoče družbe s strani odvisnih družb
Povzetek: Če delnice obvladujoče družbe pridobi odvisna družba, se pri tem pojavijo enake nevarnosti, kot če bi obvladujoča družba pridobila lastne delnice. Zato Zakon o gospodarskih družbah (ZGD-1) v 251. členu pravni režim pridobivanja in posesti lastnih delnic razširja tudi na te primere. Avtor opozarja na pomanjkljivost zakonske ureditve, saj manjka izrecna določba o oblikovanju rezerv za delnice obvladujoče družbe, ki jih pridobi odvisna družba, in se zavzema, da se v ZGD-1 uzakoni enaka rešitev, kot velja po četrtem odstavku par. 272 nemškega Trgovinskega zakonika (HGB). Rezerve za te delnice bi morala oblikovati odvisna družba, in sicer iz enakih virov kot za lastne delnice. Ne glede na to pridobitev delnic obvladujoče družbe s strani odvisne družbe ni dovoljena, če obvladujoča družba v trenutku pridobitve ni sposobna oblikovati rezerv za lastne delnice.
Ključne besede: delniška družba, lastne delnice, obvladujoča družba, odvisna družba, rezerve
Title: Acquisition of Parent Company’s Shares by SubsidiariesAcquisition of Parent Company’s Shares by Subsidiaries
Abstract: If the parent company''s shares are acquired by a subsidiary, there are the same risks as if the parent company acquired its own shares. Therefore, the Companies Act - ZGD-1 in Article 251 extends the legal regime for the acquisition and possession of own shares to these cases. The author draws attention to the lack of regulation as there is no explicit provision on the formation of reserves for the parent company''s shares acquired by the subsidiary, and suggests that the same solution should be adopted in the Companies Act - ZGD-1 as per paragraph 4 of Article 272 of the German Commercial Code - HGB. The reserves for these shares should be formed by the subsidiary from the same sources as own shares. Nevertheless, the acquisition of the parent company''s shares by the subsidiary is not permissible if the parent company is unable to form reserves for its own shares at the time of acquisition.
Keywords: public limited company, own shares, parent company, subsidiary, reserves
