TASKENT (CIHAN)- The open and closed joint stock company concepts will be no longer used in
The new version of the law shortens the term of shareholders' and (or) companies' pre-emptive rights to purchase shares.
This term cannot be less than 10 days and also cannot exceed 30 days from the date of putting shares for sale (previously, this right was effective for a period between 30 to 60 days).
The pre-emptive right may be provided by a company's charter if the number of its shareholders does not exceed 50.
The new version of the law also clarifies that a founding assembly's decisions should be registered with a protocol signed by all the founders of that company.
No founding assembly is held at the company having only one founder.
The transformation of a governmental organization into a joint-stock company is conducted based on a decision taken by the body authorized to manage the state property, without holding a constituent assembly. (Cihan/Trend az)
Most Popular Stories
- GE Healthcare Bringing Jobs to Massachusetts
- James Foley Killer Could Be ID'd Via Social Media, Voice Recognition
- Faith Groups Divest From Fossil Fuels
- Apple Stock Bounces Back Big Time
- James Foley Beheading Video Is Real Thing: White House
- U.S. Existing Home Sales Rise 4th Month Straight
- Entrepreneur Contest Announced in Idaho
- Spiders Get Bigger, Reproduce Faster in Cities
- Dollar Tree Falls in Q2
- Family Dollar Will Stick With Dollar Tree