"The draft law was submitted to the State Duma on November 21, 2017"
In the same way, it will be possible to register issues and additional issues of shares that are subject to placement in the cases established by regulatory acts of the Bank of Russia. We believe that there is an inaccuracy in this part. Most likely, the authors of the draft law assumed that the Bank of Russia will establish cases of registration, rather than placement.
The registrar must be approved by the decision of shareholders upon setting up of the joint-stock company. Become a registrar may also be a person who already maintains a register of owners of securities of such a company.
The issuer (the company) will need to conclude an agreement with the registrar. It can provide, in particular, that the sole executive body of the registrar may, without a power of attorney, be an applicant:
- when registering such joint-stock company as a legal entity;
- when registering amendments to the charter of the joint-stock company related to the placement of shares.
The amendments will not extend to banks, as well as to non-credit financial organizations, the decision on state registration of which should be taken by the Bank of Russia.
