1 / 3

The RA Deputy Minister of Justice Vahe Danielyan presented for the deputies’ debate in the first reading the package of draft laws on Making Amendments and Addenda to the Law on Joint Stock Companies and enclosed other draft laws.

According to the key rapporteur, at present a number of regulations of the Law on Joint Stock Companies are not consonant with the developments taking place in the business world, therefore a number of provisions are changed by the initiative.

It is proposed to allow the issue of simple shares of different classes, liberalize the regulations referred to big deals, as well as the competence of management bodies of the company. The initiative fixes a modern and effective approach of employee shareholding, set the rights of the requirement for the mandatory sale and mandatory purchase of company shares etc.

The endorsement of the NA Standing (Head) Committee on Economic Affairs presented the member of the committee Tsovinar Vardanyan. As she has said, the initiative is aimed at corresponding the regulations of the market of the joint stock companies to the current imperative.

The Parliament will continue the work of the regular sitting on May 5, 10:00.