NSSMC: an effective mechanism for remote holding of general meetings during the war

The NSSMC has decided on the functioning of the governing bodies of the joint stock company and the procedure for holding general meetings for the period of martial law.

The general meeting of shareholders during martial law may be held subject to compliance with all the above provisions of this Procedure.

Key changes made to the procedure of the general meeting:

• the date of placing the ballot paper in free access for shareholders, specified in the notice of the general meeting, may not be later than 9 days before the date of the meeting;
• the date of election of candidates to the bodies of the joint-stock company – not later than three days before the date of the general meeting of shareholders;
• the protocol on the results of registration may be signed by a qualified electronic signature of each member of the registration NSSMC;
• the protocol of cumulative voting may also be signed by a qualified electronic signature of each member of the counting NSSMC, etc.

If it is impossible to hold a general meeting of shareholders during martial law in accordance with the established conditions, companies must act as follows:

• the general meeting of shareholders of the joint-stock company must be held within 90 days after the end of martial law;
• the powers of the governing bodies of the company, whose powers expire during the period of martial law, are considered extended until the date of termination of martial law.

The Resolutioms of the NSSMC shall take effect from the moment of their publication on the official website of the NSSMC, namely:

On Amendments to the Provisional Procedure for Convening and Remotely Holding General Meetings of Shareholders and General Meetings of Corporate Investment Fund Participants;

Regarding the peculiarities of the functioning of the governing bodies of the shareholders of the joint-stock company for the period of martial law.