Translation. Region: Russian Federal
Source: Ministry of Economic Development (Russia) – Ministry of Economic Development (Russia) –
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Deputies approved the draft law of the Ministry of Economic Development, simplifying the process of joining business entities (JSC and LLC) to associations or unions. The draft law was developed within the framework of the "Transformation of the Business Climate" mechanism and was adopted in the first reading in September 2024.
The bill is aimed at optimizing the procedure for making decisions on business participation in associations, unions and other associations of legal entities or citizens. Current regulations provide for the adoption of such decisions exclusively by the highest governing body of the company – the general meeting of shareholders or participants of the company. Usually, the formation of the agenda, preparation of ballots for voting, and sending out invitations to shareholders take about a month.
"This procedure leads to additional costs associated with conducting corporate procedures. The draft law provides for the possibility of referring the issue of making such decisions by the charter of a joint-stock company to the competence of the board of directors or the collegial executive body of the company," noted First Deputy Minister of Economic Development Maxim Kolesnikov.
The regulation will affect more than 51 thousand joint-stock companies (JSC), including more than 800 public JSC, and more than 2.5 million limited liability companies (LLC).
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