In line with the reform process being carried out by the new Inspector General, the General Inspectorate of Justice (IGJ) issued General Resolution 2/2024 (effective as of February 1, 2024), which amended Article 67 and repealed Article 68 of General Resolution 7/2015. Article 67 of General Resolution 7/2015, in its previous wording, established that the corporate purpose had to be precise and specific, and only allowed the inclusion of other activities if they were related, ancillary, and/or complementary. It also expressly prohibited multiple-purpose corporate objects. While the requirement that the legal acts provided for in the corporate purpose be precise and specific is maintained, the article was modified to allow the inclusion of multiple legal acts within the corporate purpose, even if they are unrelated. Meanwhile, Article 68 of General Resolution 7/2015 established that the IGJ had the power to require an increase in initial share capital if it determined, at its discretion, that it was manifestly inadequate to carry out the activities included in the corporate purpose.
