Changes are made to the Federal law on joint-stock companies

24 July 2018, Tuesday

The President of the Russian Federation Vladimir Putin has signed the Federal law of July 19, 2018 No. 209-FZ "About introduction of amendments to the Federal law "About Joint-stock Companies" adopted by the State Duma on July 10, 2018 and approved by the Federation Council on July 13, 2018.

The federal law is directed to specification of criteria proceeding from which the size of dividends on preference shares is considered a certain charter of society.

Besides, regulations on committee of the board of directors (supervisory board) on audit, on the organization of internal audit and the system of internal control and risk management are fixed in public joint stock companies by the Federal law.

Also it is established that the audit commission is created in public joint stock company when its creation is provided by the charter of this society. If in society the audit commission isn't created, then in it internal audit has to be organized.

The possibility of participation of the board of directors (supervisory board) in formation of governing bodies of joint-stock company, including possibility of delegation of power on election of executive bodies from competence of general shareholder meeting in competence of the board of directors without emergence at shareholders of the right to demand redemption of the stocks owned by them is also established by the federal law.

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