Joint Stock Companies

Posted December 13th, 2016 by Tony. Comments Off on Joint Stock Companies.

The flow of these requirements may lead to the fact that society will have to organize a department that specializes in dealing with troublesome shareholders for information on the activities of the society. 3) creation of occasions for handling complaints with authorities state and initiate legal proceedings against company failure to provide information to shareholders may be grounds for the shareholder to the court and the statement of claim on forcing the company to provide information, and pretext for the treatment of the Federal Service for Financial Markets to conduct a test for violation of shareholder rights. Each of the denial for information is an administrative offense and shall entail responsibility in the form of a fine. 1 In practice, most joint-stock companies, or "beat the target," the disclosure information, or conversely did not report anything. The only way out – the golden mean, the balance between the requirements of current legislation and the necessary level of confidentiality. 1.2. The right to require testing financial-economic activity of the company according to claim 3 st.85 Federal Law "On Joint Stock Companies" verification (audit) of financial and economic activity is carried out at any time on request shareholder (s) holding in aggregate not less than 10 percent of voting shares. Thus, the shareholder may request a review of how internal control authority – the Audit Commission and audit firm. Verification by the Audit Commission is not usually a problem for society because, as a rule, members of the commission are employees of the company and controlled its management.

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