The government will correct the law on joint-stock companies
the Government intends to add the list of cases at which requirements about the obligatory offer on acquisition of actions will not be applied. Corresponding amendments to the Law “ About joint-stock companies “ are brought in the State Duma and prepare for consideration. The bill has been developed by the Ministry of Finance of Russia and makes changes to article 84. 2 laws. Given article with a view of protection of the rights of minority shareholders at redistribution of corporate control obliges the purchaser of 30 percent of shares of open joint-stock company within 35 days to direct to other shareholders the public offer on acquisition at a society of these actions. The bill assumes to make changes to article 84 point 8. 2 which establishes cases when requirements of this article are not applied.
As Vitaly Borodkin, the senior lawyer of the legal company " has explained; the Priority “ Now the obligatory offer on sale of actions is not applied in two cases: acquisition of actions at establishment or reorganisation of an open society, and also in case of acquisition of actions and entering by their Russian Federation, its subject or municipal union as the contribution to Open Society authorised capital stock, the owner more than 50 which percent of shares is the state.
the Bill suggests to establish one more additional case when requirements about the obligatory offer of actions will not be applied, namely at a transfer of stock from the federal property in the property of the subject of the Russian Federation or municipal union, and also from the property of the subject of the Russian Federation in the property of municipal union and back. “ In my opinion, in this case the rights minoritariev not will are restrained, as in itself transition of actions from the property of the Russian Federation in the region or municipal union property or to the contrary does not lead to redistribution of corporate control - actions all the same remain in hands of the main shareholder, i.e. the state “ - the expert has noted.
According to Vitaly Borodkin, the main tasks which developers this bill intend to solve, - reduction of budgetary expenses and simplification of procedure of a gratuitous transfer of stock between publicly - legal educations of the Russian Federation.