The President approved the Amendments to some regulations due to the improvement of the corporate governance system. In accordance with the amendments made to the Civil Code, it is established that a supervisory board must be set up at a unitary enterprise, which can become the management body of company.
In addition, the regulations relating to the Golden Shares, which give the state the right to participate in the management of certain joint-stock companies, have been removed from the legislation base.
The powers of members of supervisory board of a joint-stock company have been extended from 1 year to 3 years.
It is established that participants and shareholders with a share of at least 5 percent in the authorized capital of legal entities can be customers of an audit. Previously, it was 10 percent.
