On October 29, 2010 the Commercial Law Center jointly with the State Commission on Securities and Stock Market (SCSSM) held a round table in Kirovograd on the topic “The Law of Ukraine “On Joint Stock Companies”: Implementation Issues”. The event gathered over 50 representatives of small and middle-size businesses, the state tax administration and lawyers.

The round-table discussions were interesting and timely, since the process of JSC transformation into public or private JSCs has reached its final stage. All closed and open JSCs should have transformed their securities into non-paper form until October 29, 2010. The whole transformation process should be completed by April 29, 2011. The round-table participants spoke about the problems faced during this transformation, including the difficulties arising during holding general shareholders’ meetings and cumulative vote. CLC experts and representatives of the State Commission on Securities and Stock Market provided the audience with useful information and answered numerous questions of entrepreneurs.

Mr. Mykola Burmaka, SCSSM member, emphasized that it was important to complete this transformation process in the nearest future and in compliance with the above Law. He also mentioned that the Commission had provided and would continue providing clarifications regarding certain provisions of the Law in order to assist entrepreneurs in completing this transformation process in the most effective and least harmful way. The round-table participants were called for active cooperation with territorial departments and the SCSSM central office.