The law respecting amendments to the law of Ukraine on joint stock companies has been enacted after being signed by President of Ukraine Petro Poroshenko, the presidential press-office reports.
The document sets out changes to articles 30, 38, 41, 55, which stipulate a common approach to reducing the quorum for general shareholders’ meeting of all types of join-stock companies, including those with profit-sharing rights owned by the state, more precisely, with 50% or more ordinary shares possessed by the state.
This move helps approximate, adjust the legislation of Ukraine to the international standards for the quorum of the general shareholders’ meeting of joint stock companies and introduces an ordinary approach to passing decisions by a majority of votes - 50% plus one, of the shareholders present in person at the meeting.
Besides, the document improves the voting mechanism and guidelines for joint stock companies within which they can carry out their activities, provides a feasible mechanism for implementing decisions on paying dividends.
The said above mechanisms that improve efficiency of decision-making will raise extra funds that, in turn, will increase government receipts.
Thus, the Law protects the interests of the state.
