On appeals to the PMR Supreme Council

The procedure for electing the chairman of the board of directors (supervisory board) of a joint-stock company will be simplified. Amendments to the law "On Joint-Stock Companies" were adopted by the PMR Supreme Council at a plenary session in two readings at once.

The chairman of the board of directors of a joint-stock company (and members of the board of directors) could only be elected at a general meeting of shareholders until now, according to the provisions of the law. It should be noted that, according to the provisions of the Civil Code of the Pridnestrovian Moldavian Republic, the board of directors (supervisory board) is created if the joint-stock company has more than 50 shareholders. Difficulties arose in the process of determining the candidate for the head of the board of directors, including due to the impossibility of convening a general meeting of shareholders in full in practice. 

Economic agents operating in the form of a joint-stock company appealed to the Supreme Council. Deputies Viktor Guzun, Vadim Kravchuk, Andrey Mezhinsky and Vadim Levitsky developed a legislative initiative that is designed to simplify the current procedure for determining the candidate for the chairman of the board of directors (supervisory board). According to the adopted amendments to the law "On joint-stock companies", the authority to elect the chairman of the board of directors (supervisory board) will be granted to the board of directors from among its membersbased on the appeals. 

The amendments to the law "On joint-stock companies" were adopted in two readings at once and will enter into force immediately after signing by the PMR President and official publication.