Article 15. Obligations of the Company's shareholders The Law on Joint-Stock Companies

Home / RLA / Article 15. Obligations of the Company's shareholders The Law on Joint-Stock Companies

1. The company's shareholder is obliged to:

1) pay for the shares;

2) notify the central securities depository and (or) the nominee holder of shares owned by this shareholder within ten business days of changes in the information required to maintain the company's share register system.;

3) not to disclose information about the company or its activities that constitute an official, commercial or other legally protected secret;

4) perform other duties in accordance with this Law and other legislative acts of the Republic of Kazakhstan.

2. The Company, the central securities depository and (or) the nominee holder are not responsible for the consequences of a shareholder's failure to comply with the requirement set out in subparagraph 2) paragraph 1 of this article.

The Law of the Republic of Kazakhstan dated May 13, 2003 No. 415.

This Law defines the legal status, procedure for the establishment, operation, reorganization and liquidation of a joint-stock company; the rights and obligations of shareholders, as well as measures to protect their rights and interests; the competence, procedure for the formation and functioning of the bodies of a joint-stock company; the powers, procedure for the election and responsibility of its officials.

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