The NSSMC detailed the procedure for holding general meetings of JSC and CIF during the war

The NSSMC ( the National Securities and Stock Market Commission) has adopted another Resolution regarding the specifics of holding general meetings of JSC shareholders (joint-stock companies) and general meetings of CIF (corporate investment fund) participants during the period of martial law in Ukraine.

The document specifies that the only possible format for holding JSC or CIF general meetings is the remote format. Organizations located on the territory controlled by Ukraine must hold annual general meetings by December 31 of the current year inclusive. In the case of being in the territory temporarily occupied by the russian federation, the meeting must be held within 90 days after the end of martial law.

Also, according to the Resolution of the regulator, if the term of office of the management bodies of JSC or CIF expires during the martial law, their effect can be extended until the date of election of new management bodies by the general meeting. The corresponding permit is also extended to the authority of companies managing the assets of the CIF.

The NSSMC`s Resolution shall enter into force the day after its publication on the website. You can get acquainted with the text by following the link.

At the same time, the NSSMC adopted Resolutions No. 1184 and No. 1185, which recognize the previous Resolutions of the regulator regarding holding general meetings of JSC and CIF during the war as having lost their validity.