We would like to remind you that a limited liability company (hereinafter referred to as “the Company”) shall annually conduct an Annual General Meeting of the Company’s participants to approve the results of the Company’s activity for the past year. Moreover, the obligation to convene and conduct the next general meeting of participants is given to the executive body of the company.
The timing of the Annual General Meeting shall be determined by the Charter of the Company but not earlier than two and not later than four months after the yearly closuring (between March 01 and April 30). The notice of convening the meeting, together with all necessary materials, should be sent to the participants no later than 30 days before the meeting.
The agenda of the Annual General Meeting shall include issues related to the approval of annual reports and annual accounting balance sheets, distribution of net profits of the Company and may include other issues stipulated by the Law and the Company’s Charter, such as the approval of the following year’s audit company.
Please note that in 2021 it is allowed to hold Annual General Meeting by absentee voting (by poll).
This article provides for responsibility of individuals, officers and legal entities with regard to the illegal denial of convening or the avoidance of convening the company’s General Meeting as well as violation of the legal requirements related to the procedure of convening, preparation and conducting the General Meeting of the company’s participants (item 11 article 15.23.1 of the Administrative Offences Code). The maximum amount of administrative fines to which the responsible persons are subject according to this article amounts to 30 000 rubles for officers and 700 000 for legal entities.
In accordance with the above, Emerging Markets Group is pleased to offer the support in the process of convening and holding the General Meeting, or in drawing up the minutes of the General Meeting (decision of the sole participant) of the Company. The availability of duly executed documents ensures that your organization complies with legal requirements and prevents possible adverse effects.