Legal alerts / 4.02.2019

Amendments to corporate law

Standard-form charters for legal entities

Starting from 24 June 2019, it will be possible to establish legal entities by using standard-form charters developed by the Russian Ministry of Economic Development.

These standard-form charters should facilitate the procedure for creating a business and release business entities from the necessity to bring their charters into compliance with changing legislation.

(Order No. 411 of the Russian Ministry of Economic Development ‘On approving standard-form charters based on which limited liability companies can operate’ dated 1 August 2018 (registered with the Russian Ministry of Justice under No. 52201 on 21 September 2018)

It has become mandatory to put into place control of risks and internal controls in public joint-stock companies since 1 September 2014. Powers to determine a company’s internal legal framework (regulations, policies, changes in job descriptions, and other documents) for such controls are entrusted to the board of directors.

(Federal Law No. 209-FZ ‘On amending the Federal Law ‘On joint stock companies’’ dated 19 July 2018)

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