Publication date: 11.06.2024
Joint-stock companies in Ukraine
Joint-stock companies are an important element of the economy of any country, providing opportunities for investment and business development. In Ukraine, joint-stock companies (JSC) have a special legal status and are regulated by a number of regulatory acts, in particular the Law of Ukraine "On Joint-Stock Companies". This article will consider the main aspects of creation, activity and management of joint stock companies in Ukraine.
1. General provisions on joint-stock companies
A joint-stock company is a business company, the authorized capital of which is divided into a certain number of shares of the same nominal value, the corporate rights of which are evidenced by shares. The peculiarities of joint-stock companies' activities are established by the Law of Ukraine "On Joint-Stock Companies". The legal status of joint-stock companies created in the process of privatization of state-owned enterprises is regulated by separate laws.
2. Establishment of a joint-stock company
A joint-stock company can be founded by legal entities and/or individuals, as well as by the state. If a joint-stock company is established by several persons, they may enter into an agreement on joint activity regarding the establishment of the company. The founders are jointly and severally liable for obligations incurred before the state registration of the joint-stock company.
A joint-stock company can be founded by one person or consist of one person in case of acquisition of all company shares by one shareholder. Information about this is subject to publication in accordance with the procedure established by law.
3.The statute of the joint-stock company
The founding document of a joint-stock company is its charter. The charter must contain information about the rights of shareholders, the management structure, the competence of management bodies and the procedure for their decision-making, as well as other necessary information.
4. Authorized capital
The authorized capital of a joint-stock company is formed at the expense of funds and other property contributed as payment for shares. The minimum size of the authorized capital is established by law. In the process of establishment, shares are subject to placement exclusively among the founders.
5. Increase and decrease of authorized capital
The size of the authorized capital can be increased by increasing the nominal value of shares or additional issuance of shares. The reduction of the authorized capital is carried out by reducing the nominal value of the shares or canceling the shares bought by the company, while it is necessary to notify all creditors.
6. Dividends
A joint-stock company may pay a portion of its net profit to shareholders in the form of dividends. The payment procedure is determined by law and the company's charter.
7. General meeting of shareholders
The highest body of a joint-stock company is the general meeting of shareholders. The exclusive competence of the general meeting includes decision-making on changes to the charter, management structure, approval of annual statements, as well as termination of the company.
8. Management structure
The management structure of a joint-stock company can be one-level or two-level. A single-level structure includes a general meeting of shareholders and a board of directors, while a two-level structure includes a general meeting, a supervisory board, and an executive body.
Conclusion
Joint-stock companies are an important tool for conducting business in Ukraine. They provide opportunities for investment attraction, effective management and development of enterprises. Compliance with legal requirements and proper organization of activities are key factors in the successful functioning of joint-stock companies.
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