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AMENDMENTS WERE MADE TO THE STATE DUMA ON THE RETIRED MEMBERS OF THE BOARD OF DIRECTORS OF A JOINT-STOCK COMPANY OR LLC

The Government of the Russian Federation has proposed 7 conditions that may cause a member of the Board of Directors or supervisory board of an LLC or JSC to be recognized as retired. The relevant bill has been submitted to the State Duma. Among the circumstances proposed in the draft law are the following: bankruptcy; restriction or deprivation of legal capacity; disqualification; own solution; deprivation of the right to hold certain positions or engage in specific activities; death. Also, the reason for recognizing a member of the ...

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