On 5 October 2009 the Ministry of Justice of Ukraine issued a Letter clarifying the approach to various practical issues Joint Stock Companies ("JSCs") may face in complying with the recently adopted Law "On Joint Stock Companies" ("Law"). In particular, the Letter explains that:
- there will be a transitional period between 30 April 2009 and 30 April 2011 where if a JSC has not amended its charter and internal documents to comply with the Law, it shall continue to operate in accordance with the Law "On Business Associations" and other relevant acts in force before the Law was adopted;
- once a JSC amends its charter and internal documents to comply with the Law, it should operate in accordance with the Law;
- a JSC will not be charged a registration fee for registering new wording or amendments to its charter in accordance with the Law; and
- under the Law, a JSC can choose not to disclose information related to its shareholders in its charter.
The Letter also lists the additional documents that a JSC should submit to the registrar when registering a change to the original shareholders in its charter
Law: Letter of the Ministry of Justice of Ukraine, No. KO-25653-19, dated 5 October 2009 "On Closed Joint Stock Companies".
This article was written for Law-Now, CMS Cameron McKenna's free online information service. To register for Law-Now, please go to www.law-now.com/law-now/mondaq
Law-Now information is for general purposes and guidance only. The information and opinions expressed in all Law-Now articles are not necessarily comprehensive and do not purport to give professional or legal advice. All Law-Now information relates to circumstances prevailing at the date of its original publication and may not have been updated to reflect subsequent developments.
The original publication date for this article was 20/11/2009.
