MOSCOW, December 23 (RIA Novosti) - The State Duma, Russia's lower house of parliament, adopted the bill on changes to the law on joint stock companies Friday in the third reading.
The 226 required votes were more than surpassed with 377 deputies voting for the bill and 42 deputies against.
There were no abstentions.
The law looks to enhance shareholders' control of changes in the financial position of the company being reorganized.
The document provides for the possibility of electing a company auditing commission and enables the company's founders to endorse an auditor.
The amendments also enable shareholders to discuss the company's reorganization at a single meeting to reduce the time spent on the matter and avoid problems linked with the procedure of convening and holding such meetings.
In accordance with the amendments, the company's board of directors or supervisory council may decide on the company's participation in other entities, where the company's charter does not refer to executive bodies. This change will not apply to organizations that require a decision by a general meeting of shareholders to participate.
