|Incorporation of amendments and additions to the Federal Law "On Joint-Stock Companies" |
On August 7, 2001 the RF President signed the Federal Law "On incorporation of amendments and additions into the Federal Law "On Joint-Stock Companies" No. 150-ЖЗ, which will become effective on January 1, 2012.
The amendments and additions are mainly aimed at protection of rights and interests of stockholders.
Some changes refer to redistribution of competences among general meeting of stockholders and board of directors.
Additions were made to the procedure of how to prepare for and conduct an annual general meeting of stockholders, (both scheduled and exceptional meetings).
The Law settles down the issue of competences of a board of directors in nomination of candidates and incorporation of items into an agenda. Board of Directors is allowed to include any issues into an agenda.
The Law effected some changes in part of company's board of directors regulations. The Law edition in force includes an imperative requirement that a board of directors shall be elected for the period of one year.
The Law clarifies procedures for company's large transactions.