On Amending The Federal Law "On Joint Stock Companies"

10.08.2015

Legal update No 526

Goltsblat BLP advises that, on 1 July 2015, amendments to Federal Law No. 208-FZ “On Joint Stock Companies” introduced by Federal Law of 29 June 2015 No. 210-FZ “On Amending Certain Legislative Acts and Vitiating Certain Legislative Provisions of the Russian Federation” came into force.

These amendments are mainly intended to align the Federal Law “On Joint Stock Companies” with amendments introduced previously into the Civil Code of the Russian Federation. The law clarifies the conditions and procedure for acquiring and terminating the public status of a joint stock company and allows a considerably greater degree of discretion in regulating non-public joint stock companies.

Furthermore, the Law amends substantially the procedure for convening and holding a general meeting of shareholders and the provisions on voluntary and mandatory share purchase offers. These amendments are to come into force on 1 July 2016.

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