Legislative Chamber passes amendments to law “On joint stock companies and protection of shareholders’ rights”

Information service of the Legislative Chamber said that the draft law was developed within exhibition of the programme on additional measures on further improving investment climate and business environment, improving efficiency of stimulating development of entrepreneurship activities in 2014-2015”, which was approved by the presidential decree from 7 April 2014.

The document is directed at protecting rights of minority shareholders and further improving corporate management system in joint stock companies.

MP Saidahmetova said that that the draft law is directed at fully changing principles and approaches to system of corporate management, introduction of international standards of corporate management.

She said that the document takes into account foreign experience and protects rights of minority shareholders. He said that the shareholders with over 25% of stakes in the enterprise will receive dividends after the company pays dividends for minorities.

MP Temirhanova underlined that the draft law was discussed with representatives of state bodies, civil society institutes and specialists. At the same time, all opinions and proposals were taken into account during preparation of the draft law to consideration of the Legislative Chamber.