• Russian Law: Annual General Meetings
  • March 23, 2012 | Author: Dinara Dorizo
  • Law Firm: Norton Rose Canada LLP - Office
  • We would like to remind you that according to Article 34 of the Federal Law “On Limited Liability Companies”, every Limited Liability Company is obliged to hold a Regular (Annual) General Participants’ Meeting, in order, among other issues, to approve the results of the previous financial year of the Company. The Meeting must be convened no earlier than 2 (two) months and no later than 4 (four) months after the end of the financial year of the Company, i.e. between 1 March and 30 April  unless the company's financial year is different from the calendar year.

    In accordance with Article 47 of the Federal Law “On Joint-Stock Companies”, every Joint-Stock Company is obliged to hold an Annual General Shareholders’ Meeting, in order, among other issues, to elect members of the Board of Directors and to examine and approve the results of the previous financial year of the Company, no earlier than 2 (two) months and no later than 6 (six) months after the end of the financial year of the Company, i.e. between 1 March and 30 June unless the company's financial year is different from the calendar year.

    Please note that under the RF Code on Administrative Offences a fine up to 700,000 Russian Roubles (about USD 25,000) may be imposed on a company for violation of the requirements as to the form and time of holding the General Shareholders’ (or Participants’) Meeting.