In accordance with draft Federal Law N 222860-8, it is planned:

  • to extend the rule according to which JSCs and LLCs will not be required to be liquidated or reduce the size of the authorized capital to a level not exceeding the net asset value. According to the draft, this rule will be applied to the financial results of 2022 and 2023 if the authorized capital is higher than this value.
  • To extend until July 31, 2023 the rule according to which, if at least three people remain in a JSC as a result of the withdrawal of members from the board of directors, such board of directors retains its powers until the renewal of its composition, even if such composition is considered insufficient in accordance with the Law on JSC, the Articles of Association of the Company and/or the resolution of the general meeting. Resolutions of the board of directors in such a “reduced” composition will be legitimate if they are adopted with the participation of at least half of the remaining members.