National Securities & Stock Market Committee has held a meeting

At its scheduled meeting, the National Securities & Stock Market Committee passed a decision on endorsement of the regulation specifying the registration procedure for issue of shares on foundation of join-stock companies, the press-office of the NSSMC reports. 

«I’d like to notify that this regulation sets up the deadlines and registration procedure, specifies grounds for refusal of registration made by the Commission dealing with issue of shares, what occurs when public and joint-stock companies are established. It also details a list of documents necessary to register the issue of shares, how to draft a report on results of private allotment of shares, and sets out requirements to the relevant documentation, - explained Alla Papaika, Director of Corporate Management and Finance Department at the NSSMC.

According to Ms. Papaika, in the recent years the current legislation of Ukraine has undergone essential changes. In particular, Law of Ukraine On Depositary System of Ukraine came into effect, some alterations were made to Laws of Ukraine, namely On Joint-Stock Companies and On Securities and Share Market, as well as the re-organization of the Committee was performed. This entailed the necessity to elaborate a document that can be up to date and incorporate all amendments and alterations happened in order to ensure that the legislative registration procedure for issue of shares will be appropriate and full-blown.

At an early date, the regulation will be printed in the NSSMC’s official publication and posted on its website getting free access to the more detailed information.