Cabinet of Ministers Regulations No. 10 1996 in Riga on January 5 (No. 2, § 6) amendments to the law "On joint stock companies" Issued by the constitutional order laid down in article 81 to make the law "on joint stock companies" (the Republic of Latvia Supreme Council and Government Informant, 1993, 24/25.nr.; Latvian journal, 1994, 96, no. 149; 1995, 139. No.) the following amendments: 1. Supplement article 1 to sixth by the following: "6. the national formation of public and governed by this law, the law on State and local government business transformation of incorporated companies" and issued in accordance with those laws and regulations. "
2. Article 21:2.1 Add to the second part of paragraph 4 by the following: "4) Stock Exchange listed securities.";
2.2. express the sixth subparagraph by the following: "6. the shares of the company invested in tangible things, intellectual property and securities listed in the stock exchange becomes public property.";
2.3. to supplement the article with the ninth subparagraph by the following: "9. the stock exchange listed securities may pay no more than 30 percent of the shares of the company's share capital."
3. Supplement article 35 paragraph 5 by the following: "5) acquire shares that make up the Board's reserve, repurchases of its members of the Board. The company distributes the newly elected Board members. "
4. Add to article 39, paragraph 4 as follows: "4) replacing the company's debts with the company's shares."
5. To supplement the law with article 41.1 the following: ' article 41.1. The share capital increase, replacing the company's debts with shares of 1. If the company's share capital is increased by replacing the stock of public debt to shares, share capital including the debts that you have chosen a stock company and that they are replaced with shares written consent given to the selected vendor.
2. In this case, the shares of the company closed down in the emissions released in additional shares, which shall be transmitted to the relevant vendors.
3. in the manner provided for in this article, the share capital can be increased only after the previous release of the shares are fully paid. The company may allow to increase the share capital, if the previous release of the shares not yet fully paid for (up to 10 percent of the value of the release). The public joint stock company such authorisation may be given for the securities market Commission.
4. To increase the share capital in the manner provided for in this article may not be if the obligations of the creditor more than two times higher than the company's own capital. The company's own capital must be positive. "
6. Article 42:6.1. delete the first paragraph, first sentence, the words "with the involvement of additional capital";
6.2. express the second part of paragraph 6 by the following: "6) notification of previously released the full payment of the shares or this law, article 40, second paragraph, and in the second subparagraph of article 41.1 in cases referred to in the announcement of the share capital contributions have not yet been made and why they have not done, but a public limited liability company's board — these same articles for securities market Commission;".
7. Supplement article 43 first paragraph with the following content: "If the share capital is increased by modifying a part of the capital accumulated in the company on its core capital by converting the bonds for shares released and replacing the company's debts with shares, the release should not be specified in the provisions of the first subparagraph 6., 7., 8., and the information referred to in paragraph 10.
8. Put the name of the article 44 the following: ' article 44. A new release of the nominal value of the shares and the sale price, with the involvement of additional capital ".
9. Put the name of the article 45 as follows: "article 45. Subscription for shares in the new release, including additional capital ".
10. Expressing article 46 name as follows: "article 46. Pre-emptive rights to new shares of a closed emissions involving additional capital ".
11. Replace the third subparagraph of article 61, the number "34" with the number "36".
12. Express 94. article as follows: "article 94. Shares of the company of annulment 1. every shareholder, the company's Management Board, the Council, the Commission or the Court of Auditors, as well as the companies registry and the Prosecutor's Office has the right to take legal action to accept shares in the company for the following cases: 1) if the shares of the company bylaws are in conflict with the requirements of this law;
2) if the legal relationship on which is based the formation of public limited liability companies, is arguably under the law.
2. A nonprofit organization, the national joint stock company "Privatization Agency" in respect of State property, as well as the City Council, District Council or Parish Council regarding their property have the right to take legal action to recognize a limited company as the first part of this article referred to in paragraph 2 in the case of limited liability companies created during privatization.
3. A claim for the recognition of limited liability companies may bring: 1) the first subparagraph of this article referred to in paragraph 1 in the case, while the shares of the company's Statute does not comply with the requirements of the law;
2) the first subparagraph of paragraph 2 in the case referred to in the two years after the company's registration in the register of the company, if the company is not created during privatization;
3) of the first paragraph of article 2 in the case referred to in paragraph — six years after the company's registration in the register of the company, if the company created during privatization.
4. If a claim for the recognition of the company as a shareholder, share the road public Council, the Executive Board, the Audit Commission or the Auditor, apply this law, article 63 of the fourth and fifth.
5. If a claim for the recognition of the company for the way non-profit organization public joint stock company "Privatization Agency", the City Council, District Council, the Parish Council, the commercial register, or the public prosecutor's Office, then to do the Latvian civil procedure code and in accordance with the procedure laid down in the said institutions are exempt from payment of State fees in these cases.
6. the general meeting of shareholders has the right to address deficiencies in the statutes of the public limited liability companies, making amendments thereto in accordance with the procedure laid down in this Act, if the action is brought the first part of this article referred to in paragraph 1.
7. If the Court ruling on the company's annulment, company registry launched joint stock companies winding-up, and then apply this law, the provisions of article 91.
8. If the shares of the company to be annulled, as legal transactions concluded on its behalf by third parties remain bound. "
The Prime Minister A. Economic Minister slice g. shore