About The Peculiarities Of The Legal Status Of Joint Stock Companies (Folk)

Original Language Title: Об особенностях правового положения акционерных обществ работников (народных предприятий)

Subscribe to a Global-Regulation Premium Membership Today!

Key Benefits:

Subscribe Now for only USD$20 per month, or Get a Day Pass for only USD$4.99.
RUSSIAN FEDERATION FEDERAL LAW About the legal position of joint-stock companies (people's enterprises) Adopted by the State Duma on 24 June 1998 Approved by the Federation Council on July 9, 1998 21.03.2002. N 31-FZ Article 1. The relationships governed by this Federal Law 1. This Federal Law defines the peculiarities of creation and legal status of joint-stock companies of employees (people's enterprises) (hereinafter-people's enterprises), rights and obligations of their shareholders, and also ensures protection of rights and interests shareholders. 2. The rules of the Federal Law "On joint-stock companies" on closed joint-stock companies apply to the people's enterprises, unless otherwise provided A true federal law. Article 2: How to create a people's enterprise 1. The People's Enterprise may be established in the manner prescribed by this Federal Law by transforming any commercial organization, with the exception of State unitary enterprises, municipal unitary enterprises and public enterprises joint-stock companies with less than 49 per cent of the authorized capital. Create a people's enterprise is not allowed in another way. 2. Members of a commercial organization, in accordance with the established legislation of the Russian Federation and the constituent documents of the organization, decide to transform it into a people's enterprise. 3. Members of a commercial organization who voted against the conversion of a commercial organization to a people's enterprise are entitled within one month of the date of adoption of the said decision to demand the redemption of their shares (shares, shares) in whole or in part. 4. Employees of a commercial organization whose members have taken the decision referred to in paragraph 2 of this article by not less than three fourths of the votes of their number, in accordance with the procedure established by the legislation of the Russian Federation, agree to Establishment of a people's enterprise. In the event that employees of a commercial organization do not consent to the establishment of a people's enterprise, the decision of the participants of the business organization to transform it into a people's enterprise is deemed to have failed. 5. If the employees of a commercial organization agreed to the establishment of a people's enterprise, those who decided to become a shareholder of the people's enterprise and the participants in the commercial organization subject to transformation conclude a contract for the establishment of a people's enterprise enterprises. In the event that the members of a commercial organization and its employees who decided to become shareholders of a people's enterprise did not agree on the terms of the contract for the establishment of a people's enterprise referred to in paragraph 2 of this article, is considered to be invalid. Article 3. Treaty Establishing a People's Enterprise, People's Enterprise Charter 1. Treaty Establishing a People's Enterprise, in addition to the information referred to in article 9, paragraph 5, of the Federal Act About joint-stock companies", should contain: 1) information about the number of shares in a people's enterprise that may be owned at the time of create a people's enterprise: each worker, including a member of the converted business organization, who decided to become a shareholder in the people's enterprise; each participant is converted an organization that is not its employee; each natural person who is not a member of the converted business organization and/or legal entity; 2) cash valuation of shares (shares, shares) of the converted business organization; 3) terms, terms and order of buyback by the people's enterprise of the shares of the people's enterprise at its shareholders in order to comply with this Federal Act and the terms of the contract of creation of a people's enterprise; 4) an indication of the form of payment for the shares of the people's enterprise or the order of exchange shares (shares) of converted commercial organization per share The people's enterprises are owned by each shareholder at the time of the establishment of the people's enterprise. 2. The agreement on the establishment of a people's enterprise should be signed by all those who decided to become shareholders of the people's enterprise. 3. With shareholders requiring the purchase of shares in accordance with article 2, paragraph 3, of this Federal Act, as well as with shareholders whose number of shares in the people's enterprise on the date of its creation proved to be unsuitable In accordance with the requirements of article 6, paragraph 1, of this Federal Act and the conditions of the contract for the establishment of a people's enterprise, the people's enterprise is obliged, within one month of the date of its establishment, to conclude contracts for the purchase and sale of its shares. At the same time, the purchase price of the shares owned by them cannot exceed their market value. 4. The Constitution of the People's Enterprise, in addition to the information referred to in article 11, paragraph 3, of the Federal Act " About joint-stock companies", should contain information about: maximum share of the people's enterprise in the total number of shares may be owned by individuals who are not employees of the people's enterprise and/or legal entities; maximum share of the people's enterprise in the total number of shares held by one employee enterprises. Article 4. The authorized capital of the people's enterprise 1. The people's enterprise has the right to issue only common shares. The number of votes attributable to the owner of a people's company during voting on the principle of "one share-one vote" is not allowed. Nominal value of one share of a people's enterprise is determined by the general meeting of the shareholders of the people's enterprise (hereafter referred to as the general meeting of shareholders), but there can be no more than 20 percent of the minimum wage Federal law. 2. Employees of the people's enterprise should belong to the number of shares of the people's enterprise, the nominal value of which amounts to more than 75 percent of its authorized capital. Employees of a people's enterprise, more than 45 per cent of the authorized capital of which is owned by natural persons other than its employees and/or legal entities, should belong to the number of shares of the people's enterprise, nominal The cost of which is more than 75 per cent of the authorized capital, no later than at the end of the tenth fiscal year after the year of establishment of the people's enterprise. Employees of the people's enterprise, from 35 to 45 per cent of the authorized capital of which is owned by individuals who are not its employees and/or legal entities, should belong to the number of shares of the people's enterprise, The nominal value of which is more than 75 per cent of the authorized capital, no later than at the end of the fifth fiscal year after the year of establishment of the people's enterprise. If within the time limits set by the second and third paragraphs of this paragraph, employees of the people's enterprise shall not belong to the above-mentioned number of shares of a people's enterprise, a people's enterprise for one year must be converted to a commercial organization of another form. After the expiry of this period, the people's enterprise is subject to judicial liquidation at the request of the body carrying out the State registration of legal entities, or the authorized State body or local authority Self-governance. 3. The share of the shares of the people's enterprise in the total number of shares that may be owned by the employee of the converted commercial organization at the time it is created must be equal to the share of the employee's remuneration in the total amount paid to employees for the preceding Establishment of a people's enterprise for 12 months. The creation of a people's enterprise may be subject to a different procedure for determining the share of a people's enterprise in the total number of shares that may be owned at the time of its creation by the employee of the transformed business organization. 4. A member of the business transformation organization that does not have a sufficient number of shares (shares, or shares) of the commercial organization to be converted for the number of shares of a people's enterprise that must be owned by it The contract of creation of a people's enterprise is obliged to pay at least 50 percent of the value of the number of shares in the people's enterprise that it should belong to at the time of establishment of the people's enterprise. 5. The share of the people's enterprise in the total number of shares that can be owned in aggregate at the time of its creation, the participants of the converted commercial organization other than its employees must be less than 25 per cent of the authorized capital A people's enterprise, unless the treaty establishing a people's enterprise for periods not exceeding the requirements of paragraph 2 of this article provides otherwise. 6. The share of the people's enterprise in the total number of shares held by one employee of a people's enterprise at the time of its establishment may not exceed the maximum amount specified in Article 6, paragraph 1 of this Federal Law, if the contract The establishment of a people's enterprise for periods not exceeding the requirements of paragraph 2 of this article shall not be otherwise provided for. 7. The minimum authorized capital of a people's enterprise should be at least 1,000 times the minimum wage established by federal law at the date of the State registration of the people's enterprise. 8. The shares of the people's enterprise in the shareholders referred to in article 3, paragraph 3, of this Federal Act can only be carried out by profit of the people's enterprise. Article 5. Shares of people's enterprise 1. The people's enterprise is entitled to increase its authorized capital by issuing additional shares in the amount of not less than the amount of net worth, in accordance with the restrictions established by federal laws and other legal acts of the Russian Federation. the profit actually used for the purpose of the accumulation for the financial year under review. 2. The additional shares of the people's enterprise, as well as the shares purchased by the public enterprise from its shareholders, are distributed among all eligible workers of the people's enterprise in proportion to their remuneration for the financial reporting period. Year. 3. The newly recruited workers of a people's enterprise shall be subject to paragraph 2 of this article if they have worked for at least three months in the financial year under review. In the cases provided for by the charter of a people's enterprise, another period of work of a people's enterprise may be established, after which it may be invested in the people's enterprise referred to in paragraph 2 of this article. article, but this period cannot be less than three months and more than 24 months. 4. The procedure for determining the remuneration amounts of employees of the people's enterprise during the financial year under review for the purposes specified in paragraph 2 of this article, as well as the procedure for giving shares in the people's enterprise to workers of the people's enterprise are approved by the general public the shareholders ' meeting. The decision is based on the principle of "one shareholder, one vote". 5. The provisions of this article shall enter into force upon the fulfilment of the conditions of the contract for the establishment of a people's enterprise. Article 6. Restrictions on the ownership and disposal of the shares in the People's Enterprise 1. One shareholder in a people's enterprise (hereinafter referred to as the shareholder) cannot own the number of shares in the people's enterprise, the nominal value of which exceeds 5 per cent of the authorized capital of the people's enterprise. The maximum share of the shares of a people's enterprise, which may be owned by one shareholder, set by the first paragraph of this paragraph, may be reduced by the charter of the People's Enterprise. If for any reason, including as a result of the granting of shares in accordance with article 5 of this Federal Law, one shareholder employee has a number of shares in a people's enterprise that exceeds the established The people's enterprise is obliged to buy the shares of such shareholder, which form the above excess, and the shareholder is obliged to sell them to the people's enterprise. The sale shall be carried out at the nominal value of the shares of the people's enterprise within three months from the date of such exceedance. 2. A shareholder may sell or otherwise dispose of his shares in a people's enterprise to another individual and/or to a legal person only in the cases provided for by this Federal Law. 3. A shareholder has the right to sell at the contract price a portion of his/her shares of the people's enterprise for the following financial year to the shareholders of the people's enterprise, except for persons, under article 8, paragraph 3, of this Federal Act, or to the people's own enterprise and, in the event of their refusal, to employees of the people's enterprise who are not its shareholders. The number of shares authorized for the sale of a people's enterprise by a shareholder is fixed by the general shareholders ' meeting, and may not exceed 20 per cent of the shareholder's shares in the people's shares Enterprises on a specified date. 4. The People's Enterprise is obliged to buy from the dismissed employee shareholder, and the retired shareholder is obliged to sell to the people's enterprise owned shares in the people's enterprise, at their cost, within three months from the date of dismissal. 5. Upon the decision of the Supervisory Board of the People's Enterprise (hereinafter-the supervisory board) or in accordance with the charter of the people's enterprise, the retired employee is entitled to sell at a contract price within three months from the date of dismissal. The members of the people's enterprise belong to the people's enterprise, with the exception of the persons referred to in article 8, paragraph 3, of this Federal Act. In the event that the sale transaction is not held for any reason, the provisions of paragraphs 4 and 6 of this article shall enter into force. At the same time, the period during which the people's enterprise is obliged to buy out the shares of the people's company who has been dismissed, shall be increased to six months. 6. The People's Enterprise is liable for monetary obligations arising under article 3, paragraph 3, of this Federal Act and paragraphs 1, 4 and 5 of this article, in accordance with article 395 Civil Code of the Russian Federation. 7. A shareholder who did not agree with the purchase price of the shares in the people's enterprise is entitled in writing to appeal it to the Audit (Control) Commission of the People's Enterprise (hereinafter referred to as the Control Commission). 8. If the property of a shareholder is not sufficient to satisfy the creditors ' claims, the people's enterprise is required by a court order to pay them the purchase price of the shareholder's shares or parts thereof. At the same time, the shares of the people's enterprise, the value of which has been paid to the creditors, are transferred to the balance of the people's enterprise. 9. Shareholders of the people's enterprise are natural persons who are not its employees, and legal entities have the right to sell at any time their shares, primarily to the shareholders of the people's enterprise, and in the event of their refusal- the people's own enterprise or its employees who are not shareholders. 10. The action of paragraphs 4 to 6 of this article shall apply to the heirs of deceased shareholders. 11. The provisions of paragraphs 1 and 2 of this article shall enter into force upon the fulfilment of the conditions of the contract for the establishment of a people's enterprise. 12. The rules of article 75 of the Federal Law "On joint-stock companies" shall apply only to the shareholders of the people's enterprise-individuals who are not its employees and legal entities. Article 7. The purchase price of the company's shares and dividend payout 1. The value of all shares in a people's enterprise is determined quarterly according to the method approved by the general meeting of shareholders, with the said value not to be less than 30 per cent of the value of the net assets of the people's enterprise; and should normally correspond to their market value. A special fund for the rationing of workers, which cannot be used for other purposes, is being created at a people's enterprise to buy shares of the people's company. 2. The shares of the people's enterprise are paid only once a year. People's enterprise is not entitled to make a decision on the payment of dividends if: at the time of payment of dividends it meets the signs of insolvency (bankruptcy) in accordance with the legal acts of the Russian Federation The insolvency (bankruptcy) or the listed signs may result from payment of dividends; the value of its net assets is less than the amount of its authorized capital and reserve fund or less as a result of the payment dividends; it did not buy from its shareholders The enterprises, which share in the total number of shares of the people's enterprise do not meet the requirements of Article 6 of this Federal Law and the charter of the people's enterprise. Article 8. The sale of the shares of a people's enterprise located on its balance 1. The shares of the people's enterprise on its balance may be sold, in whole or in part, to its employees, as well as to individuals who are not employees, and/or legal entities. The number of selling shares in the people's enterprise, the price at which they will be sold, the terms and conditions of their sale shall be approved by the decision of the general meeting of shareholders, adopted by at least three quarters of the votes of those present A general meeting of shareholders. 2. The sale of shares of the people's enterprise on its balance is carried out in accordance with this Federal Law, and the number of shares sold by a people's enterprise may not exceed 50% of the total number of shares in the people's market. Enterprises for distribution between employees in accordance with article 5, paragraph 2, of this Federal Act. 3. The sale of the shares of the people's enterprise on its balance sheets to the general director of the people's enterprise, its deputies and assistants, members of the supervisory board and members of the supervisory commission shall not be permitted. The Charter of the People's Enterprise may establish an additional list of persons whose sale of shares is not permitted. Article 9. Number of employees and shareholders of the people's enterprise 1. The average number of people in the enterprise cannot be less than 51. When the number is reduced, the people's enterprise is obliged, within one year, to bring it into conformity with this paragraph or to convert it into a commercial organization of another form. If this requirement is not met within the specified period, the people's enterprise is subject to judicial liquidation at the request of the body carrying out the State registration of legal entities, or by the Commissioner for that of a public authority or a body of local self-government. 2. The number of employees who are not shareholders of the people's enterprise (hereinafter-non-shareholders) should not exceed 10 per cent of the employees of the people's enterprise during the reporting year. If the average number of non-shareholders for the third full fiscal year of the people's establishment, or any subsequent financial year, will exceed 10 per cent of the average number Employees of a people's enterprise, the people's enterprise is obliged to bring in one year the average number of the non-shareholders in accordance with this paragraph or to convert to a commercial organization of another form. If the said requirement is not met within the specified period, the people's enterprise is subject to judicial liquidation at the request of the body conducting the State registration of legal entities or of the Commissioner for that period. of a public authority or a body of local self-government. 3. When calculating the average number of employees of a people's enterprise for the purposes of this Federal Act, employees with whom employment contracts (contracts) are not accounted for during the course of certain work, as well as seasonal workers. Employees. 4. The number of shareholders in a people's enterprise should not exceed five thousand. If the number is exceeded, the people's undertaking shall, within one year, bring it into conformity with this paragraph or transform itself into a commercial organization of another form. If the said requirement is not met within the specified period, the people's enterprise is subject to judicial liquidation at the request of the body conducting the State registration of legal entities or of the Commissioner for that period. of a public authority or a body of local self-government. Article 10. General Shareholders Meeting 1. The exclusive competence of the general shareholders ' meeting includes: (1) the election of the general director of a people's enterprise, the early termination of his powers and the establishment of salary levels; (2) Election of the Chairman of the Control Commission, early termination of his powers, as well as the determination of salary; (3) to determine the size of the supervisory board, elect its members and hold early termination of their authority; 4) definition of maximum Share of a people's enterprise in the total number of shares held by individuals who are not employees of the people's enterprise, and/or legal entities; 5) to determine the maximum share of the people's shares enterprises in the total number of shares that can be owned by a people's enterprise; (6) approval of the Control Commission clause; 7) establishment of remuneration and compensation for members of the supervisory board tip; 8) fixing compensation and compensation Members of the supervisory commission, as well as the approval of the estimates for its activities; 9) the adoption of the method of determining the value of the shares of a people's enterprise; 10) approval of amendments to the Constitution of the People's Enterprises, including changes in the size of the charter capital of the people's enterprise, or approval of the charter of the people's enterprise in the new edition; 11) approval of annual balance sheet, profit and loss statement; 12) decide on the reorganization of a people's enterprise; 13) approval of the priorities of the People's Enterprise; 14) approval of the Control Commission report; 15) decision on liquidation of the people's enterprise, appointment of the liquidation commission and approval the interim and final liquidation balances. Decisions on sub-items 1-6, 8, 10, 12 and 14 of this paragraph shall be taken on the principle of one shareholder, one vote. 2. Issues which fall under the exclusive competence of the General Shareholders Meeting cannot be transferred to other bodies of the People's Enterprise, and the powers of the General Shareholders Meeting may be referred to it by a decision of the General Assembly, at least three quarters of the total number of shareholders, the supervisory board or the supervisory board for a certain period of time, but not more than one year. Decisions are made on the principle of "one shareholder, one vote". 3. The general meeting of shareholders is approved by the general meeting of shareholders. The decision is based on the principle of one shareholder, one vote. 4. The decisions taken by the general meeting of shareholders, as well as the results of voting shall be made available to all employees of the people's enterprise not later than 15 days from the date of the adoption of these decisions. 5. Non-shareholders can participate in the general meeting of shareholders with the right of deliberative vote. 6. 2% of shareholders or shareholders, who in aggregate own not less than 2% of the people's enterprise, within 30 days from the date of the end of the financial year under review shall have the right to propose no more than two questions for inclusion in the the agenda of the annual general meeting of shareholders, and, in the case of elections to the supervisory board and the monitoring commission, to nominate candidates in quantities not exceeding the size of each of those bodies, and to nominate candidates Director General of the People's Enterprise and Chairman of the Control Commission. 7. When submitting nominations for the post of Director General of the people's enterprise and chairman of the supervisory board, members of the supervisory board and members of the supervisory commission, including in the case of self-nomination, the name of the candidate and, if the candidate is a shareholder, the number of shares of the people's enterprise, as well as the names of the shareholders (the shareholder), and the number of shares of the people's enterprises. 8. The Supervisory Board is obliged to consider the motions received and to decide whether to include them in the agenda of the general meeting of shareholders or to refuse such inclusion no later than 15 days after the end of the period specified in paragraph 6 of this article. Questions introduced by the shareholders (shareholder) are to be included in the agenda of the general meeting of shareholders, as well as nominated candidates to be included in the list of candidates for election to the post of general Directors of the People's Enterprise and the Chairman of the Control Commission, members of the Supervisory Board and members of the Control Commission, unless: Shareholders (shareholder) did not meet the deadline set out in paragraph 6 of this article. Articles; shareholders ' shareholders are not owners The number of votes provided for in paragraph 6 of this article; data submitted in accordance with paragraph 7 of this article are incomplete; the proposals submitted do not comply with this Federal Law; and OF THE PRESIDENT OF THE RUSSIAN FEDERATION 9. Motivated decision of the Supervisory Board to refuse to include the issue on the agenda of the general meeting of shareholders or candidates for the election of the General Director of the People's Enterprise and the Chairman The supervisory board, members of the supervisory board and members of the monitoring commission shall be given to the shareholders (the shareholder) who have made a question or a proposal not later than three days from the date of its adoption. 10. Decision of the supervisory board to refuse to include the issue on the agenda of the general meeting of shareholders or candidates for election to the post of the General Director of the People's Enterprise and the Chairman of the Control Board The commission, members of the supervisory board and members of the supervisory board may be appealed to the supervisory commission, whose decision on the matter is binding on the supervisory board. 11. The vote at the general meeting of shareholders, in addition to the information set out in article 60, paragraph 3, of the Federal Law "On joint-stock companies", shall specify the principle of voting on each question-"one share-one vote" or "one vote". Shareholder-one vote ". If voting on elections for the post of the General Director of the People's Enterprise and the Chairman of the Control Commission, the members of the Supervisory Board and the members of the Control Commission, a ballot shall be held for the election. (a) The need for a vote. 12. The term of office of the Accounts Commission of the General Shareholders Meeting shall be determined by a decision of this general meeting of shareholders not less than three fourths of the votes of the shareholders present at the general meeting of shareholders. The decision is based on the principle of one shareholder, one vote. Article 11. Extraordinary General Shareholders Meeting 1. An extraordinary general meeting of shareholders shall be held on the decision of the supervisory board on its initiative, at the request of the supervisory board, as well as at the request of at least 10 percent of the shareholders or at the request of the shareholders. at least 10 per cent of the people's enterprise on the date of submission of the claim. The form of holding an extraordinary general meeting of shareholders (joint or absenter voting) shall be determined by the decision of the Supervisory Board. The Supervisory Board is not entitled to change its decision by holding an extraordinary general meeting of shareholders, if the requirement of the controlling commission, as well as the shareholders (shareholder) of the extraordinary general meeting of shareholders contains an indication of the form to be carried out. 2. Convening an extraordinary general meeting of shareholders at the request of a controlling commission, at the request of at least 10 per cent of shareholders or at the request of shareholders (shareholders), who own at least 10 per cent of the shares of the people's enterprise, shall be carried out by a supervisory board not later than 45 days after the submission of the requirement to hold an extraordinary general meeting of shareholders. The Supervisory Board may not amend the agenda of the agenda of the extraordinary general meeting of shareholders convened at the request of a controlling commission, at the request of at least 10 per cent of shareholders or on demand Shareholders (shareholders), who own at least 10 per cent of the people's enterprise on the date of submission of the claim. 3. Within 10 days from the date of the submission of the claim of the controlling commission, the requirement of at least 10 per cent of shareholders or the requirement of shareholders (shareholders), who hold at least 10 per cent of the shares of the people's enterprise, to convene an extraordinary general The shareholders ' meeting of the supervisory board should decide to convene the extraordinary general meeting of shareholders or to refuse to convene it. A decision to refuse to convene an extraordinary general meeting of shareholders at the request of a controlling commission, at the request of at least 10 per cent of shareholders or at the request of shareholders (the shareholder), who owns at least 10 per cent of the shares A people's enterprise can only be adopted if: is not in compliance with the Russian Federation's legal requirements for holding a general meeting of shareholders; convening of an extraordinary general meeting of shareholders, not owned by The number of votes provided for in paragraph 1 of this article; none of the issues proposed for inclusion in the agenda of the extraordinary general meeting of shareholders shall be assigned to its competence. Article 12. The Supervisory Board of the People's Enterprise 1. The Supervisory Board shall provide general direction to the people's business and may take decisions on all matters, except those falling within the competence of the general meeting of shareholders, as well as matters of which the General Assembly is concerned. The Federal Act and the charter of the people's enterprise are the responsibility of the Director General of the People's Enterprise. 2. The exclusive competence of the supervisory board shall be: 1) convocation of annual and extraordinary general meetings of shareholders, except as provided for in article 55, paragraph 6, of the Federal Law " On joint-stock companies "; 2) the adoption of the agenda of the general shareholders ' meeting; 3) the date of the list of shareholders eligible to participate in the general meeting of shareholders, and other matters falling within the competence of the shareholders of the Supervisory Board in accordance with the provisions of Chapter VII of the Federal Law " About joint-stock companies " and related to the preparation and holding of the general shareholders meeting; 4) determine the amount of the dividend per share a people's enterprise and the procedure for its payment; 5) the use of reserve and other funds of the people's enterprise; 6) approval of internal documents of the people's enterprise provided for in the charter of the people's enterprise; 7) Establish branch offices and open offices of a people's enterprise. 3. Matters falling within the exclusive competence of the supervisory board may not be referred to the Director General of the People's Enterprise. The powers of the supervisory board on other matters granted to it under this Federal Act and the charter of the People's Enterprise may be transferred by a decision of the General Shareholders Meeting to the Director General A public enterprise or a monitoring commission for a fixed term, but not more than one year. 4. The President of the supervisory board shall be the Director General of the People's Enterprise, unless otherwise provided by the statutes of the people's enterprise. 5. The Supervisory Board is elected for a term of three years. 6. The Director-General of the People's Enterprise, his deputies and assistants cannot constitute more than 30 per cent of the size of the supervisory board. 7. In the list of employees of the people's enterprise, more than one thousand people, and if more than 2 per cent of the non-shareholders are in the list, one representative of the non-shareholders chosen by the general meeting of non-shareholders, should be part of the Supervisory Board. 8. Meetings of the supervisory board shall be convened by the Chairman of the Supervisory Board at the request of the member (s) of the supervisory board, at the request of the supervisory board, at the request of at least 5 per cent of the shareholders or on demand Shareholders (shareholders), who own not less than 5% of the company's shares. 9. The decision of each meeting of the supervisory board shall be brought to the attention of the employees of the people's enterprise. Article 13. General Director of the People's Enterprise 1. The current activity of the people's enterprise is managed by the general director of the people's enterprise, which is the sole executive body of the people's enterprise. The General Director of the People's Enterprise shall be responsible for all matters concerning the management of the current activities of the people's enterprise, with the exception of the matters assigned by this Federal Law and the Regulations of the People's Enterprise to The competence of the general meeting of the shareholders or the supervisory board. 2. The General Director of the People's Enterprise shall be elected by decision of the General Shareholders Meeting for a term determined by the charter of the people's enterprise, but not for more than five years, and may be elected an unlimited number of times. 3. The remuneration of the General Director of the people's enterprise for the financial year under review cannot be more than 10 times the average remuneration of one employee of the people's enterprise for the same period. Article 14. Enterprise 1 Audit (Control) Commission . The Control Commission monitors the financial and economic activities of the people's enterprise, the observance of the rights of the shareholders, as well as the implementation of the rules of internal labour regulations of the people's enterprise. 2. Members of the supervisory board shall not be members of the supervisory board at the same time. 3. Members of the supervisory board shall be entitled to participate in the meetings of the supervisory board with the right of deliberative vote, as well as to attend meetings held by the General Director of the People's Enterprise. 4. Members of the Supervisory Board shall not participate in the election of the members of the monitoring commission. 5. The powers of the monitoring commission, its numerical composition, the manner in which its members are elected, the duration of their terms of office, the procedure and the decisions to be taken at the meetings shall be established by the terms of reference of the monitoring commission. The decisions of the supervisory commission shall be binding on the people's enterprise. The decisions of the supervisory board may be reviewed by the general meeting of shareholders or appealed to the court. 6. The Chairman of the Control Commission and the members of the Control Commission shall be elected from among the shareholders for a term determined by the charter of the People's Enterprise, but not less than five years. Article 15. Control the financial and economic activities of a people's enterprise 1. The audit (audit) of the financial and economic activities of the people's enterprise is carried out following the work of the people's enterprise during the financial year under review, as well as at any other time on the decision of the supervisory commission taken on its initiative A general meeting of shareholders, the decision of the supervisory board, at the request of at least 10 percent of the shareholders or at the request of the shareholders (the shareholders), who own at least 10 percent of the shares of the people's enterprise. 2. The audit (audit) of the financial and economic activities of the people's enterprise shall normally be conducted by independent auditors on the basis of a contract. The personal composition of the auditors is subject to mandatory agreement with the supervisory board. 3. The fees of the independent auditors (audits) of the financial and economic activities of the people's enterprise shall be paid within the limits of the estimate for carrying out the activities of the monitoring commission. 4. The Control Commission has the right to consult documents concerning all parties to the people's enterprise and to obtain the necessary explanations in oral and written form. 5. The decision to commit a major transaction, the object of which is property, the value of which is between 15 and 30 per cent of the book value of the property of a people's enterprise as at the date of the decision to commit such a transaction, shall be made The supervisory board shall be unanimous (which does not take into account the votes of the outgoing members of the supervisory board) and shall be subject to the mandatory approval of the supervisory board. In the event that a large transaction is not reached or agreed upon by the supervisory board on the issue of the commission of a major transaction, the matter may be resolved only by the general meeting of shareholders. The decision to commit a major transaction, the subject of which is property, the value of which amounts to more than 30 per cent of the book value of the property of a people's enterprise as at the date of the decision to commit such a transaction, shall be made The general meeting of shareholders is not less than three-fourths of the votes of the shareholders present at the general meeting of shareholders. 6. The people who are interested in the conduct of the public enterprise are the general director of the people's enterprise, members of the supervisory board and members of the controlling board, the shareholders, who own at least 20 percent of the shares People's enterprises, if these individuals, their spouses, parents, children, brothers and sisters: are the party to the transaction or participate in it as a representative or an intermediary; owns no less than 20% voting shares (shares, shares) of legal entity being party of such a transaction, either as a representative or an intermediary; shall hold office in the administration of the legal entity which is a party to the transaction or is involved in it as a representative or conciliator. These persons are obliged to bring to the attention of the Supervisory Board and Control Commission information: on legal persons in which they own or jointly with their affiliated persons at least 20 % of voting shares (shares, shares); on legal entities in which they hold positions; on known or anticipated transactions in which they may be recognized as having an interest by persons. In the event that these persons have not submitted the information in a timely way, the supervisory commission is obliged to raise the issue of failure to comply with this requirement for consideration by the general meeting of shareholders. Article 16. Entry into force of this Federal Law 1. This Federal Act shall enter into force on 1 October 1998. 2. Invite the President of the Russian Federation and instruct the Government of the Russian Federation to bring its legal acts into conformity with this Federal Law. 3. (Deleted-Federal Act of 21.03.2002) N 31-FZ) President of the Russian Federation Boris Yeltsin Moscow, Kremlin 19 July 1998 N 115-FZ