An employment contract is one of the main ways to implement a human right to work. Therefore it is extremely important to establish legal safeguards, which help to maintain the stability of the employment relations. Often common offenses are noticed during the reorganisation of an enterprise.

In 2008-11-11 new amendments of the Law on Companies of Republic of Lithuania have been approved. The main changes are discussed here.

Firstly, the general provision that the terms of reorganization of the limited liability companies being reorganized must be evaluated by firms of auditors has now new exception – if all shareholders who are entitled to vote agree that the terms of reorganization should not be evaluated by firms of auditors.

The European Commission has proposed an important revision of the EU framework for investment funds known as 'UCITS' (Undertakings for Collective Investment in Transferable Securities). The new provisions will increase the efficiency of the current legislative framework in a number of key areas. First, it will allow UCITS managers to develop their cross-border activities and generate savings consolidation and economies of scale. Second, investors will benefit from a greater choice of investment funds operating at lower costs. Third, the proposal also seeks to improve investor protection by making sure that retail investors receive clear, easily understandable and relevant information when investing in UCITS.

On the 1st of March, 2008 new amendments of the law shall open new opportunities for the specialised investment funds in Lithuania. These funds include private equity (risk capital), real estate, alternative investment (hedge) funds and other specialized collective investment undertakings (SCIU), both close-end and open-end. SCIU can be registered as investment funds (fund assets legally belong to the unit holders but not the fund manager) or investment companies (investment company is organized in form of a public limited liability company). One of the main SCIU merit is tax advantage: SCIU is exempt from corporate income tax. Investment income (returns from investments), dividends and other distributed profits received by investment funds is non-taxable income under the Law on Corporate Income Tax.