Hannes Snellman Issues a Statement to the Ministry of Agriculture and Forestry Regarding the Electronic Register of Housing Company Shares

Next year, an electronic register of housing company shares will be introduced in Finland. The aim is to collect exhaustive information about the ownerships of housing company shares and related security interests in one electronic register. The upcoming changes will eventually end the use of physical share certificates in residential real estate transactions. The Ministry of Agriculture and Forestry has appointed a working group responsible for statute drafting, and the working group has conducted an open public consultation regarding the new register and related legislation. The submitted statements will be processed by 31 May, after which the statute working group will publish a summary of opinion. As the matter has significant legal and social impact, Hannes Snellman has issued an impact assessment that was prepared by Counsel Heikki Majamaa and Partner Henrik Mattson.
 
“We are very pleased to be able to contribute to the society by participating in the development of legislation”, says Partner Henrik Mattson from Hannes Snellman’s Finance team and continues: “At Hannes Snellman, we have a strong heritage of serving the community. Our corporate citizenship work means the practical realisation of our firm’s and any attorney’s fundamental professional values, and being part of this kind of legislative work is an excellent opportunity to carry out this work”.

Hannes Snellman’s statement is available here (in Finnish only).

Heikki Majamaa, Counsel and Henrik Mattson, Partner | Hannes Snellman's Finance Team