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The National Bank of Ukraine recommends banks to prepare for reorganization into public joint-stock companies
23 January, 12:03 | Interfax-Ukraine
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"[The NBU] proposes banks ensure the approval of decisions by their shareholders on amending bank regulations concerning their reorganization into public joint-stock companies, which should come into effect simultaneously with the law on joint-stock companies," reads the letter.
The letter says that the law obliges banks created in the form of closed joint-stock companies or limited liability companies to reorganize into open joint-stock companies until October 4, 2009.
On April 29, 2009, the law on joint-stock companies comes into effect, which foresees the existence only two types of joint-stock companies – private and public: all joint-stock companies should bring their regulations in line with the law before April 29, 2009.
The letter says that the NBU has drawn up a separate draft law to settle the issue on the terms of receiving of the public joint-stock company status by banks.
The draft, which will be submitted to the parliament, simplifies the process of a transfer to the new form - public joint-stock company.
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