On Amendments And Additions To The Federal Law "on Joint Stock Companies"

Original Language Title: О внесении изменений и дополнения в Федеральный закон "Об акционерных обществах"

Read the untranslated law here: http://pravo.gov.ru/proxy/ips/?doc_itself=&infostr=x&backlink=1&fulltext=1&nd=102078643

RUSSIAN FEDERATION FEDERAL LAW on amendments and additions to the Federal law "on joint stock companies adopted by the State Duma October 11, 2002 year approved by the Federation Council of the year October 16, 2002 Article 1. To amend the Federal law of December 26, 1995, N 208-FZ "about joint-stock societies" (collection of laws of the Russian Federation, 1996, N 1, art. 1; 2001, no. 33, art. 3423) the following changes and additions: 1. Article 42: the first paragraph of paragraph 1 shall be amended as follows: "1. the company shall have the right, according to the results of the first quarter, six months, nine months of the financial year and (or) based on the results of the financial year to take decisions (declare) dividends on the placed shares, unless otherwise provided for in this federal law. The decision to pay (declare) dividends after the first quarter, six months, nine months of the fiscal year may be made within three months after the end of the relevant period. ";
paragraphs 3 and 4 shall be reworded as follows: "3. the decisions to pay (declare) dividends including decisions about the size and shape of its dividend payments on shares of each category (type) shall be approved by the general meeting of shareholders. The dividend size cannot be larger than recommended by the Board of Directors (Supervisory Board) of a company.
4. the term of and procedure for payment of dividends is determined by the Charter of the company or shareholders about dividends payment. If the Charter of a company deadline for payment of dividends is not defined, the payment period shall not exceed 60 days from the date of adoption of the decision on payment of dividends.
The list of persons having the right to receive dividends is at the date of the list of persons eligible to participate in the general meeting of shareholders which decides on the payment of appropriate dividends. To compile a list of persons entitled to receive the dividend, nominal stockholder submits data on persons on whose behalf he owns shares. ".
2. paragraph 2 of article 43 shall be amended as follows: "2. the company shall not have the right to decide on paying dividends (including dividends based on the results of the first quarter, six months, nine months of the fiscal year) for the ordinary shares and preferred shares, the amount of dividends that are not defined when no decision on payment of the full amount of the dividend (including accrued dividends on cumulative preferred shares) on all types of preferred shares size of dividends (including dividends based on the results of the first quarter, six months, nine months of the fiscal year) for which is defined by the company Charter.
3. in paragraph 1 of article 48: complement subparagraph 10-1 to read as follows: "10-1), the payment (Declaration) of dividends based on the results of the first quarter, six months, nine months of the fiscal year";
subparagraph 11 to read as follows: "11) approve annual reports, annual accounting statements, including profit and loss statements (profit and loss accounts) of the company, as well as distribution of profits (including payment (Declaration) of dividends except profit distributed as dividends after the first quarter, six months, nine months of the fiscal year) and losses of the company based on the results of financial year;".
Article 2. The President of the Russian Federation and to entrust the Government of the Russian Federation to bring its normative acts in compliance with this federal law.
Article 3. The effect of this federal law apply to the relations on payment of dividends on the placed shares arising from September 30, 2002 year.
The President of the Russian Federation v. Putin Kremlin, Moscow October 31, 2002 N 134-FZ