Publichnoye Akzionernoye Obschtschestvo

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Publitschnoje Akzionernoje Obschtschestwo ( Russian Публичное акционерное общество , German: public joint-stock company ) abbreviated PAO ( Russian ПАО ) is a legal form in Russia . It is next to the Nepublitschnoje Akzionernoje Obschestvo one of two forms of organization of a joint stock company under Russian law. The legal basis is provided by the Russian Civil Code in Articles 96 to 104 and the Federal Law on Joint Stock Companies of December 26, 1995.

Until the amendment by the federal law N99-F3 of May 5, 2014, all PAOs had the legal form of Otkrytoje Akzionernoje Obschtschestvo , abbreviated as ОАО ( public joint-stock company ) until September 1, 2014 . From this reference date onwards, all previous OAOs that correspond to the two main characteristics of a PAO will also be treated as such. These main features are:

  • free trading in the company's shares on a stock exchange or the freely accessible opportunity to acquire the company's shares
  • open circle of a practically unlimited number of shareholders

In principle, liability is limited to the assets of the stock corporation. However, if the insolvency of the stock corporation is caused by the action or failure of the shareholders or other persons who are authorized to act on behalf of the company and the company's assets are not sufficient to service the company's debts, they can also ( natural ) persons are held accountable. The capital stock for registration of an open joint stock company is 100,000 rubles .

The English names and abbreviations Public Joint-Stock Company ( PJSC ) and Open Joint-Stock Company ( OJSC ) are also common for the two legal forms .

Individual evidence

  1. ^ Federal Law on Public Companies. Retrieved November 5, 2017 (Russian).
  2. ↑ Russian Civil Code Art. 96 ff. Accessed on November 5, 2017 (Russian).
  3. ↑ Federal Law of May 5, 2014 N99-F3 "On the introduction of amendments to the 4th chapter of the first part of the Civil Code of the Russian Federation and on the recognition of individual legal provisions of the Russian Federation as expired. May 5, 2014, Retrieved November 5, 2017 (Russian).
  4. ↑ Witalija Fontschikowa: disappearance of OAO and SAO from September 1: How do you get the social contract in line. Regforum.ru, July 1, 2014, accessed November 6, 2017 (Russian).
  5. ↑ Article 3: Company liability. Federal Law on Public Companies, accessed November 5, 2017 (Russian).
  6. ↑ Article 26: Minimum share capital. Federal Law on Public Companies, accessed November 5, 2017 (Russian).