Legal Express: Summer 2014

28.08.2014

We are pleased to bring you a new issue of our Legal Express covering the most significant legislative changes related to entrepreneurial activities that took place in Russia over the summer months of 2014.

The reform of Russian civil legislation is underway. Accordingly, joint-stock companies will no longer be divided into ‘open’ and ‘closed’ ones, but will be classified as public and non-public ones.

Depending on its legal form, a company will be required to have resolutions of the general meeting certified by a notary, a registrar, or otherwise. Consequently, a resolution adopted by the general shareholders’ meeting in an LLC, as well as the list of the LLC shareholders who attended the meeting when that resolution was adopted must be confirmed by the LLC through a notary or otherwise as prescribed by the charter or the unanimous resolution of the general shareholders’ meeting.

The so-called “four eyes” principle has been incorporated into the Civil Code. Now a company may have several directors acting jointly or independently of each other.

You can find more details on these and other news stories in the current issue of our Legal Express.

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