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Ukraine: bringing charters of JSCs into compliance with the new JSC Law

Ukraine
19/11/2009
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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”.

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