Registration of issuing shares

Before to speak of share registration it is necessary to remind that a share is the issued security confirming the rights of its shareholder for getting a part of profits as dividends of a joint-stock company, in order to take part in a management process of the joint-stock company and for having a part of property after liquidation of the company.

So, the issued security is a security which has simultaneously the following signs:

1. it grounds complex of proprietary and non proprietary rights which  have to be certified, granted concessions and realized absolutely following norms and order settled by the  law of Ukraine;
2. it is placed in the way of issuing;
3. it has equal complex and realization term of the rights in one emission without depending on time of security acquisition

Shares can be registered and to bearer. Information about registered shareholders is always accessible to the issuer and is fixed in the list of shareholders. Transition of the rights of shares to bearer is not fixed anywhere: the bearer of security is a shareholder.

Shares can be issued both in documentary and in nondocumentary forms. A documentary form implies delivery to the shareholders’ certificate confirming the rights to one or some shares. In the nondocumentary form the right of a certain amount of shares is noted in the list of shareholders, which is conducted by a specialized independent list keeper or by a joint-stock company in accordance with the settled legislation.

Shares which emission did not pass a registration, are not placed, they are not alienated by an issuer to their first holder. Speaking of a commission on securities of Ukraine is conferred the right to apply in a court about liquidation of an artificial person, violated the requirements of legislation on securities of Ukraine, and on using of the sanctions to the violators settled by the legislation of Ukraine.

Legislative norms

• Registration of issuing shares, placing on establishing of a join-stock company and registration of a report about the results of emission
• Registration of issuing shares, placed on transformation of a join-stock company and LTD.
• Registration of issuing shares (secondary)
• Registration of issuing shares placed by subscription
• Registration of issuing shares in the process of privatization
• Registration of report on the results of issuing (It is registered separately during registration of emission of securities, placed secondary)
• To deny an acass to the  information (It is used during the registration of emission of shares placed by subscription, by join-stock companies and joint-stock companies which registered the prospect of emission)

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