The Commercial Law Center jointly with the State Commission on Securities and Stock Market (SCSSM) continued organizing informational-consultative round tables for representatives of JSCs, aiming to provide support in implementation of the Law “On Joint Stock Companies” and meeting the deadlines set up by the Law on JSCs.

On July 5, 2010 a round-table was held in Cherkasy, moderated by Ms. Alevtyna Gubar, Head of the Cherkasy territorial department of SCSSM and MS. Valentyna Danishevska, CLC Director.

Mr. Mykola Burmaka, SCSSM member, spoke about state priorities in implementation of the Law on JSCs. Ms. Olena Scherbyna, CLC legal advisor and Mr. Maksym Libanov, Head of the Legal Division at the Department for Methodology of Securities Market Regulation, presented the analysis of transformation procedures.

In the form of active discussion, the round table participants considered many important issues, such as: how to protect the company’s and shareholders’ interests in the process of the authorized capital formation; how to solve a conflict of interests while concluding agreements; how to observe the procedure for calling and holding the general shareholders’ meetings; how to enhance the role of the steering committee and set up control over the executive body (board) activities; how to protect the right of shareholders to receive a part of the company’s profit, etc.