Annual General Meetings of Shareholders: by 30 April in Limited Liability Companies, by 30 June in Joint Stock Companies
We remind you that annual general meetings of participants/shareholders to approve the company's results for the previous year are still formally mandatory for all Limited Liability Companies (LLC) and Joint Stock Companies (JSC).
What is new?
Last year the legislation changed (although not significantly in relation to this issue), so we recommend updating draft documents (resolution/protocol of the AGM, annual report).
What are the deadlines?
Annual meetings are held at the time set out in the statutes, but in any case between 1 March and:
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30 April for Limited Liability Companies;
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30 June for Joint Stock Companies.
What are the risks?
There is a risk of a fine of up to 700,000 roubles (Article 15.23.1 of the Code of Administrative Offences of the Russian Federation).
In practice, in companies with friendly participants/shareholders, the risks are minimal.
The company and/or directors are usually held liable if there is a corporate conflict and one of the participants/shareholders files a complaint.
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