Law on Joint Stock Companies

On the 20th of July the new Law "On Joint Stock Companies" was officially published. It replaces the Law "On Joint Stock Companies" from 2008.

The provisions of the Law are aimed at improving the regulation of issues related to joint-stock companies:

• introduction of a mechanism for conducting general meetings using electronic voting;
• bringing a number of its norms into compliance with the EU legislation;
• providing the opportunity to introduce a one-level structure of company management in joint-stock companies;
• settlement of the issue of liability of officials of the joint-stock company.

In addition, the Law makes changes to the following legal acts:

• the Civil Procedure Code of Ukraine,
• the Economic Procedure Code of Ukraine,
• the Criminal Procedure Code,
• the Law "On Limited and Additional Liability Companies",
• the Law "On Securities and the Stock Market",
• Law "On the depository system of Ukraine".

The law enters into force on the 1st of January 2023 and certain provisions (Articles 36-55 and subparagraph 20 of paragraph 3 of Chapter XIX) come into force on the 1st of January 2024.