Requirements for the charters of joint-stock companies will change

Government Bill № 1087689–7, which is designed to optimize the requirements for JSC charters' content, has been submitted to the State Duma.

It is proposed that the Joint Stock Company charter must reflect information on the rights of shareholders.

It must include information about:

  • owners of shares;
  • the structure and competence of the company’s management bodies and the procedure for making decisions by them;
  • the procedure for preparing and holding the general meeting.
In addition, amendments will be made to the law «On Joint-Stock Companies», which establishes the term of the shareholders' meeting, the composition of the board of directors, the quorum for holding its meetings and the collegial executive body of the company.

Now all this is reflected in the charter of the JSC. The bill also proposes to fix these norms in the law.