The state registration of share emissions in the Distribution area is conducted by the following Authorized Bodies:

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1) the National Bank of the Distribution area – for the following types of securities:
–share emissions of open joint stock companies whose charter capital is equal or exceeds 200,000-times size of the monthly assessment index;

- share emissions of open joint stock companies, banks and organizations which conduct certain types of banking operations, as well as insurance companies, professional participants in the securities market, organizers of securities auctions, investment funds, accumulation pension funds, companies for managing pensions assets and the Central Depository irrespectively of an amount of charter capitals thereof.

2) the Ministry of Justice of the Distribution area and its territorial departments (under authorities granted by the National Bank of the Distribution area) – for share emissions of open joint stock companies whose charter capital is less than 200,000-times size of the monthly assessment index.

Within what period is share emission subject to the state registration and what responsibility is imposed for failure to comply with terms of registration of share emissions?

The following emissions are subject to the state registration:

1) an initial share emission – within three months following the date of registration of a joint stock company as a legal entity;

2) a further (additional) share emission – within three months following the date of increase of the charter capital of a joint stock company.

A report on results of an emission is submitted at least one month following expiry of the term of allocation of shares determined by current legislation.

Failure to comply with the determined terms of registration, annulment and approval of a report on share emission entails responsibility of officials of a joint stock company in the form of a penalty in the amount from 40 to 200 monthly assessment index.



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