On the annual (ordinary) general meetings of joint stock companies and limited liability companies in 2020
Federal Law No. 115-ФЗ dated April 7, 2020 “On Amending Certain Legislative Acts of the Russian Federation with Regarding the Unification of the Content of the Annual Reports of State Corporations (Companies), Public Law Companies, and also Regarding the Specific Features of Regulation of Corporate Relations in 2020 and the suspension of the provisions of certain legislative acts of the Russian Federation ”, which introduced, inter alia, significant changes to the existing corporate legislation is signed.
The law specifically establishes that:
the annual general meeting of shareholders and the general meeting of participants in limited liability companies in 2020 are held no earlier than two months and no later than nine months after the end of the reporting year, i.e. until the end of September 2020 inclusive;
a decrease in the value of the net assets of a joint-stock company and limited liability companies below the size of its authorized capital at the end of 2020 is not taken into account for the application of clauses 4 and 6 of article 35 of the Federal law “On joint-stock companies” and clause 4 of article 30 of the federal law “on limited companies responsibility ”;
PJSC is entitled until December 31, 2020, inclusively, to acquire the shares placed by them (except for the acquisition of placed shares in order to reduce their total number) according to the simplified procedure if the totality of the conditions established by law exists;
the annual consolidated financial statements in 2020 are submitted by the organization no later than 180 days after the end of the reporting year for which these statements are prepared, and the interim consolidated financial statements in 2020 are submitted no later than 150 days after the end of the reporting period for which this reporting.
The federal law has been published and entered into force on the day of its official publication.