On 1 December 2021, RUS NFA proposed changes to lost shareholders draft law.
- RUS NFA sent comments on draft law on amendments to law on joint stock companies and art. 8 of federal law on securities market (law on lost shareholders) to RUS ECON.
- The draft law will resolve issues where shareholders information is not available and shareholder has not exercise the rights of shareholder for a long period of time.
Summary
- The draft law defines conditions/procedure for suspension of sending to individuals and legal entities whose rights to shares are recorded in the register of firm shareholders.
- Also to the mailing addresses contained in the register of shareholders, messages on holding general meetings of shareholders, voting ballots and other information.
- And the payment of dividends on placed shares; the conditions and procedure for making a decision by the joint-stock company to buy out shares of lost shareholders.
- Per members the trade community, it is necessary to account for law enforcement practices and grounds provided by the draft law on actions/inaction of shareholders.
- Per which it is planned to carry out forced share redemptions from lost shareholders.
- Participants also drew attention to the fact that in a number of cases it is possible to use the current regulation and established practice of interaction with shareholders.
