JSC Law definition
Examples of JSC Law in a sentence
The minutes of the First Board Meeting shall be drawn up within 3 (three) days after the First Board Meeting substantially in the form set out in Annex 3 in accordance with section 4 of Article 68 of the JSC Law.
If and when the Company is reorganized into an open joint stock company and if, at the time such reorganization becomes effective, the JSC Law does not permit the Right of First Refusal to be established in an open joint stock company, then the preceding provisions of this Section 5.1 shall no longer apply.
Certified copy of all internal approvals and corporate resolutions necessary to authorise the Borrower to execute and perform this Agreement and each Russian Obligor to execute and perform the Confirmation Deed to which it is a party and any related documents and the transactions contemplated thereunder (including, but not limited to, any major transaction approvals or interested party transaction approvals required under the JSC Law, if applicable).
However, the JSC Law establishes higher voting thresholds required for the adoption of certain decisions at the general meeting of shareholders, for example amendments of the charter, increase or decrease of the charter capital, reorganization, liquidation, requires ¾ of votes of all shareholders, as opposed to currently effective voting threshold of ¾ of votes of shareholders present at such meeting.
At the same time, the Civil Code, JSC Law, LLC Law or proposed amendments thereto do not provide for explicit restrictions in this respect.
According to the new Ukrainian law on JSC’s (the “JSC Law”) which came into force on 30 April 2009, JSCs must bring their activities into compliance with the JSC Law no later than two years from the effective date of the JSC Law.
At the same time, the Civil Code, JSC Law and LLC Law do not provide for explicit restrictions in this respect.
If the Group loses some control over some of its subsidiaries as the result of bringing its activities into compliance with the JSC Law, it may adversely affect the Group’s business, results of operations, financial condition and prospects.
Certified copy of all internal approvals and corporate resolutions necessary to authorise each Russian Obligor (other than Mechel Mining) to execute and perform the Finance Documents to which it is a party and any related documents and the transactions contemplated thereunder (including, but not limited to, any major transaction approvals or interested party transaction approvals required under the JSC Law or the LLC Law (as the case may be), if applicable).
Participation of the company in the shareholders' agreement is provided for by the Bill on Amending the JSC Law; moreover, under such an agreement, a non-public company may both acquire rights and incur obligations to the other parties, while a public company may only acquire rights.