Joint-stock company is an economic association (commercial structure) that is registered and operates according to certain rules, and its authorized capital is distributed over a certain number of shares. The main task is the formation of capital for conducting certain business activities.

Joint-stock company(JSC), or rather its activities are regulated by the Civil Code of the Russian Federation, the Arbitration Code of Russia, the Law of the Russian Federation "On Joint Stock Companies" and other acts and laws.

The history of the emergence of a joint stock company as a structure

It is believed that the emergence of joint stock companies, as a form, began in the 15th century, with the formation of the Bank of Genoa St. George. It was with him that the era of such formations began. The task of the newly created institution was to service government loans. At the same time, its founders were the maons - the formation of creditors who lent money to the state, and the latter paid them with the right to receive part of the profit from the treasury.
Many of the principles of the Bank of Genoa coincided with the current features of the joint-stock company:

- capital of a financial institution divided into several main parts, which were distinguished by free circulation and alienation;
- bank management- a meeting of participants who gathered annually to make important decisions. Moreover, each proposal was put up for voting. main feature is that officials financial institutions were not eligible to participate in the meeting. The executive body was the Council of Protectors, which consisted of 32 members;
- bank members received interest payments on their shares. At the same time, the amount of dividends directly depended on the level of the bank's profitability.

Since the beginning of the 16th century, new markets have been actively opening in Europe, the growth of trade volumes has been accelerating, and industry has been developing. The old forms of communities (guilds, maritime partnerships) could no longer protect the rights of participants in the transaction and new economic needs. This is how colonial companies appeared in Holland, England and France. In fact, the colonial states began to attract funds from outside for the further development of the land.

1602 year- formation of the East India Company. Its essence is the unification of already existing organizations in Holland. Each company had its own shares of participation, therefore, the number of representatives in the governing bodies also differed. Over time, the shares of each of the participants were called "shares" - documents confirming the right to own part of the share. But massive speculation in stocks has forced the government to enact several tough restrictions on the abuse of company capital.

Almost simultaneously with the structure described above, the English version of the East India Company emerged. Its feature is an annual meeting of participants to resolve key issues by voting. Only those participants who owned capital more than the percentage set by the charter had a vote. Leadership was entrusted to the council, which consisted of 15 members elected by the assembly.

In the 18th century after several failed attempts to create his own bank, John Law succeeded. Subsequently, it was he who became one of the active participants in the creation of the West India Company. Several years later, other French organizations joined it. In fact, a powerful monopoly was formed on the market, which provided a stable flow of income to the treasury and the economic growth... But this could not last forever. Low dividends prompted a massive sale of shares in the newly formed structure. The rate of securities fell, and then collapsed altogether. This caused serious damage to the country's economy.

In 1843 the first JSC law appeared in Germany. From the beginning of the 1860s, the number of such societies was several dozen. Later (in 1870, 1884), new laws were developed concerning joint-stock companies.

In the years 1856-1857 In England, the first legislative acts appeared, which obliged newly registered communities to go through the registration procedure, have their own charter, indicate the goals of their activities, and so on. At the same time, the formed companies were allowed to issue only registered shares.

In 1862 all the acts and norms of England concerning the joint-stock company were collected in one law. In the future, it no longer changed, but only supplemented with new items.
The rest of the countries (including the United States) used the experience they had already gained when creating joint-stock companies.

The essence of a joint stock company

A joint stock company is a legal entity, an organization of several market participants. The peculiarity of the structure is as follows:

- JSC members have limited liability, which does not exceed the amount of their "infusion" into the authorized capital of the company;

The joint-stock company bears full responsibility to its shareholders in terms of fulfilling obligations (including the timely payment of dividends);

The entire amount of the authorized capital is equally divided by the number of issued shares of the JSC. In this case, the shareholders of the joint-stock company act as holders, and not its founders;

The formation of the authorized capital takes place at the expense of the participants' investments. In this case, the contributions made go to the full disposal of the newly created structure;

The JSC works without time limits, unless the opposite conditions are spelled out in the charter of the newly created structure;

The joint-stock company has the right to carry out any types of activities that are not prohibited by law. At the same time, in some areas a JSC can operate only on the basis of a license obtained;

The newly created organization is obliged to publish an annual report, accounts of losses and income, balance sheet and other data that are provided for by law (all these issues are considered in Article 92 of the Federal Law “On Joint Stock Companies);

AO gets the right to organize representative offices, branches, subsidiaries, and so on. At the same time, you can open your branches even outside the state.

Types of joint stock companies

Today, there are two main types of such organizations:

1. Open joint stock companies (OJSC)- these are formations in which shareholders have the right to alienate (sell) shares without agreement with other shareholders. At the same time, the JSC itself can distribute the issued shares freely, without any restrictions. The total number of shareholders and founders of the JSC is not limited. If the state acts as the founder of the company (municipal formation, subject Russian Federation), then such a company can only be open - JSC. The only exceptions are small structures that are formed on the basis of privatized companies.

TO distinctive features JSC can be attributed:

The number of participants is unlimited;
- the amount of the authorized capital - from 1000 minimum salaries and above;
- shares are distributed by open subscription;
- securities can be bought and sold freely (without prior approval);
- education undertakes to issue and publish a report, loss accounts, profitability accounts, balance sheet every year.

2. Closed joint stock companies (CJSC)- these are formations where the issued shares can be distributed only within the formation (among the founders or a strictly defined circle of people). At the same time, open subscription for CJSC is prohibited. In closed joint stock companies, shareholders have the right to be the first to buy securities.

The distinctive features of CJSC include:

The number of participants should not exceed fifty people;
- the amount of the authorized capital should not exceed 100 minimum salaries determined at the legislative level;
- the issued shares are distributed only among the founders (options for placement among other persons are also possible, but only after agreement);
- current shareholders have the right to be the first to buy shares of the CJSC;
- a closed society may not publish any reports at the end of each year.

Differences of a joint stock company

Modern AOs differ significantly from the following entities:

1. From business partnerships. JSC is a pooling of capital of several participants, and HT is a pooling of capital of participants and a group of persons who implement joint projects within one association. In addition, at HT, participants take full responsibility for the obligations of education. AO does not provide for such responsibility.

2. From limited liability companies (LLC). Common features LLC and JSC - the total capital of the participants, which is formed thanks to their investments in the common business. But a joint stock company has several characteristic features:
- the minimum amount of the authorized capital for a JSC is set at the legislative level (as well as the number of participants). For LLCs, this value is a "ceiling";

- all members of the joint-stock company get their hands on shares that can be disposed of at their own discretion (sell or buy on the stock market). In a simple community, the authorized capital is divided into simple contributions;
- the procedure for inclusion and exclusion from LLC (JSC) is different;
- each shareholder of the joint-stock company has equal rights and obligations regarding the work of the structure. In a simple society, each participant can have their own obligations.
- the management structure of a JSC is much more complicated than that of an LLC.

3. From production cooperatives. Here it is worth highlighting the following features:

- the participants of the cooperative are responsible for the obligations of the cooperative (that is, general responsibility). In JSC, each participant is responsible within the limits of his contribution;
- members of the cooperative may be excluded for non-fulfillment of obligations or violation of norms. In a JSC, no one has the right to deprive a participant of shares under any circumstances;
- a cooperative assumes the formation of a community of people and their investments, and a joint-stock company is simply a pooling of investments.

Creation of a joint stock company

To organize your joint stock company, you need to go through several stages:

1. Economically justify the future structure. That is, first you need to form an idea of ​​the future formation. All members of society must clearly understand the tasks assigned to them, development prospects, potential profitability, and so on. Special attention should be given to the following issues:

Is AO better shape for the chosen line of business. Here you need to take into account that joint stock companies are better suited for large business;
- is it possible to get necessary funds in other ways (for example, get a loan from a bank). Here you need to take into account the financial feasibility, potential benefits;
- to determine the required amount of capital.

2. Organization of JSC. At this stage, the following work is carried out:

A memorandum of association is concluded, which specifies the main activities and characteristics of the business. Moreover, the responsibility of each of the participants directly depends on the volume of investments made. The founders cannot oblige the JSC with any operations with third parties, they are prohibited from acting on behalf of the company;

A meeting of founders is held, where the charter of the joint-stock company is adopted by voting, the approval of the property valuation, and issues of the issue of shares are discussed. The governing bodies are also formed by the joint-stock company and are elected at the meeting. The applicant passes if more than ¾ of all participants voted “for”;

The authorized capital is being formed - the minimum amount of funds of the JSC, which, if something happens, will guarantee the protection of the interests of creditors. For a joint-stock company, the amount of the authorized capital must be at least 1000 minimum salaries established by laws at the time of registration of the joint-stock company. From the moment of registration, more than half of the shares must be purchased. The rest will take place throughout the year.

3. Registration of the institution at the level of state structures.

Any joint stock company can be liquidated, that is, it ceases to exist as a legal entity. There are several options for liquidation:

1. Voluntary liquidation. In this case, the relevant decision is made at the meeting of shareholders. In this case, the desire to liquidate the joint-stock company is accepted directly by the participants. The process takes place in the following order:

The meeting decides on liquidation;
- the decision is transferred to the state registration body, which makes the appropriate note. From this moment on, making any changes to the documents of the JSC is prohibited;
- a liquidation commission is appointed. If one of the participants was a representative of the state, then there must be a representative;
- the commission is doing everything possible to identify all creditors and get the current debt;
- the requests of the JSC creditors are satisfied;
- the remaining property is distributed among the shareholders.

2. Forced liquidation of a company and liquidation of a company are similar in nature. In our case, the JSC ceases to exist after a court decision. In fact, the termination of the structure's activities in the general economic format is the will of the market. Reasons for the liquidation of a joint stock company can be as follows:

Carrying out of AO activities that are not spelled out in the license or for which there is no appropriate permission;
- violation of laws when performing work;
- performing activities that are prohibited by law;
- violations during registration and their identification by the court. In this case, the latter must recognize the invalidity of all registration documents;
- bankruptcy of the joint-stock company, which is also recognized in court.

Advantages and disadvantages of a joint stock company

From positive features AO can be distinguished:

The fact of the pooling of capitals is not limited by any limits. A JSC can have any number of investors (even small ones). This feature allows you to quickly collect funds for the implementation of ideas;

When buying a certain number of shares, the future shareholder himself makes a decision on the level of risk that he assumes. Moreover, his risk will be limited solely to the amount of investment. In case of bankruptcy of a JSC, the holder of securities can lose only that part of the funds that he invested no more;

Stability. As a rule, joint stock companies are stable formations. If one of the shareholders leaves the JSC, then the organization continues its activities;

Professional management. Capital management is the function of professional managers, not of each shareholder individually. Thus, you can be sure of a competent capital investment;

The possibility of a refund. Shares can be sold in whole or in part at any time;

Various types of profits. Income can be obtained in different ways - from receiving dividends, selling shares, lending securities, and so on;

Kudos. Today joint stock companies are respected structures, and their members have high social and economic importance;

Availability of capital. AO always has the opportunity to attract additional funds by issuing loans at favorable interest rates or issuing shares.

Cons of a joint stock company:

JSC is an open structure, which requires the annual publication of reports, the disclosure of its profits, and so on. All this is additional information for competitors;

The likelihood of a decrease in control over the flow of shares. The free sale of securities can often lead to dramatic changes in the membership. As a result, control over the joint-stock company may be lost;

Conflict of interests. When managing a company, managers and shareholders may have different views on the further development of the structure. The task of the former is to correctly redistribute income in order to preserve society, and the task of shareholders is to get the greatest profit.

Leader of the Russian banking system takes leading positions in the credit rating. In 2018, in terms of key indicators (assets, capital, loan portfolio, profit, deposits of individuals, investments in securities), Sberbank ranks first among banks in the Russian Federation. But what does the name of Sberbank PJSC itself mean, and how is it deciphered?

The bank has made a change in the organizational and legal form

Renaming from OJSC to PJSC Sberbank means a change in the organizational and legal form of a financial organization. The procedure was associated with state requirements and was legally enshrined.

PJSC Sberbank, whose acronym is a public joint-stock company, officially changed the form of ownership on August 4, 2015. This operation must be performed by all JSCs, in accordance with the changes made to the Civil Code of the Russian Federation. There are no boundary dates for the procedure, it all depends on the specific enterprise.

Structure of PJSC Sberbank

Government justifies this need increasing control over all joint-stock companies. In particular, this concerns the mandatory annual audit of the company's accounting department. It is believed that the procedure will minimize or eliminate the risk of "black", double-entry bookkeeping.

Structure of a Public Joint Stock Company

The main difference between PJSCs is that there are no restrictions on the number of shares owned by one citizen.

Other differences between OJSC and PJSC include:

• In the event of bankruptcy, the shareholders of OJSC are liable only in the amount of funds spent on the purchase of shares, they do not risk other means;
• PJSC shareholders are subsidiary liable. In the event of a shortage of the company's property, the shareholders are liable for the obligations, which influence the management of the bank (if the bankruptcy is caused by the actions of the members of the company).

But there are no significant differences between the forms of ownership.

What has changed after changing the name to PJSC?

Abbreviation change indicates greater responsibility towards citizens

This re-registration takes place together with the introduction of amendments to the Charter, therefore, the corresponding clauses have been added to the Bank's Charter, explaining the principles of relationships under the new organizational form, and irrelevant sections have been removed. Two copies of it, the minutes of the meeting of shareholders and a statement of the established form were transferred to the tax service, as prescribed for the procedure. After the official name change, the financial institution has completed the following mandatory actions:

1. Changed printing.
2. Changed the name on the website, on signs, in a post office box.
3. All clients are warned about new form property and the need to enter the correct details when filling out the documents.
4. If necessary or at the request of counterparties, invoices, contracts, agreements are reissued.

Main differences between Public Joint Stock Company and Open Joint Stock Company

After the change in the form of ownership, the bank details changed (OJSC to PJSC), however, INN, BIK, OGRN, correspondent accounts, addresses and telephones remained the same. After the entry into force of the new name, a number of documents (settlement, administrative, accounts) containing the previous name are not taken into account as illegal. The changes do not apply to such situations.

Hello! A legal entity can exist only on the basis of a certain form of ownership. Until September 2014, the legislation of the Russian Federation recognized three options for organizations: LLC, OJSC and CJSC. However, the changes in the Civil Code of the Russian Federation, which occurred on the basis of Federal Law No. 99 dated 05.05.2014, introduced some adjustments. So, if the form of ownership of a legal entity was previously called OJSC, now it is called PJSC, and AO has replaced CJSC. We have already written about.

Since the entry into force of the above law, all legal entities that existed as OJSC can re-register and become a PJSC. The legislator has not established a time frame for such a procedure, so all that is needed is to make the appropriate changes to the charter and contact the tax office.

What is PJSC

Is a public joint stock company. This form of ownership for a legal entity means that the securities issued by the organization can be freely available to everyone, as well as participate in the turnover on the securities market. Moreover, there are no restrictions on the question of how many shares one shareholder can have.

Another distinctive feature of the existence of a PJSC is that the issue of so-called prolonged shares, the nominal price of which was an order of magnitude lower than the others, was canceled. In addition, the activities of the PJSC must become public. This means that meetings of shareholders of companies should become more frequent, and any decisions of theirs are now notarized, audits are carried out more often, with the participation of independent specialists. The results of such checks must be published and made available.

Thus, the activities of the PJSC have become strictly regulated. The legislator has not established any specific timeframes during which an OJSC must change to a PJSC, however, legal entities operating on this form of ownership are required to make certain changes to the documentation.

What is LLC

- limited liability company. In other words, it is a form of ownership of a commercial organization created by one or two legal or individuals for the purpose of making a profit. In practice, LLC is more common than PJSC. This circumstance is connected with the fact that the form of ownership in the form of LLC is distinguished by the simplicity of its creation. All that is needed is the decision of the organization, the presence of the charter, the creation of the authorized capital.

It would be useful to note that it is created at the expense of the contributions of the participants in the society and is divided into shares. There is a minimum amount of such capital, which is established by law and is equal to the amount of one hundred times the minimum wage.

All activities of the LLC are strictly regulated by Federal Law No. 14-ФЗ dated 08.02.1998. and the Civil Code of the Russian Federation.

Features of PJSC and LLC

The main features of an LLC include the following points:

1. The founders of this form of ownership form the authorized capital of their enterprise independently;
2. The amount of the authorized capital at which a limited liability company can start its activities should not be lower than the threshold of ten thousand rubles;
3. The number of founders is strictly defined by legislation. So, their number should be at least one, but not more than fifty. In cases where the number of founders exceeds 50, then such an organization will be asked to change the form of ownership;
4. The body authorized to manage the LLC is the board of founders, director, board of directors, supervisory board, etc .;
5. The company's charter is the main constituent document;
6. LLC, like any other organization, has a number of its obligations and is responsible for its property. The risk of members of the organization is equal to the amount of their investment in this company during its formation;
7. A limited liability company is created for the purpose of making a profit, which is distributed among the participants according to their shares. And the results of the activity itself are not subject to publication;

The features of PJSC include:

1. As for the authorized capital for a public joint stock company, there is a rule here: it is not formed immediately when the organization is created, but accumulates gradually as it issues its blocks of shares. Due to this, the amount of the company's capital can reach impressive amounts and amount to hundreds of thousands of rubles;
2. The company's shares are freely placed on the stock markets, and can be bought and sold in any quantity, while the number of the company's shareholders can be unlimited. The number of shareholders will depend only on the volume of issued securities;
3. The formation of the authorized capital of a PJSC is not required when organizing such a form of ownership. Funds can be transferred to the company's account in the course of the turnover of shares;
4. A public joint stock company is obliged to submit an annual report on the results of its activities.

Comparative table of PJSC and LLC

The main differences	OOO
Number of founders	Not less than 1, but not more than 50	Any
The size of the authorized capital	At least 10,000 rubles	At least 100,000 rubles
List of participants	It can be changed only with the obligatory participation of a notary, who certifies the fact of alienation of the participants. The data is entered into. This procedure is expensive.	Shareholders can freely sell their shares. At the same time, information about such transactions is not subject to notarization and is entered only in the register of shareholders of the company.
Information on the composition of the meeting participants	Confirmed by the participants unanimously	Confirmed by a special body by the registrar. The procedure is expensive.
Mandatory actions after registration	Mandatory maintenance of a list of members of the organization, which is distinguished by its simplicity	Without the mandatory registration of shares, all transactions with the company's securities are prohibited. The register of shareholders is constantly kept by the registrar, which requires constant payment
The possibility of increasing the authorized capital	There is. The procedure is distinguished by its simplicity	There is. Only after the registration of the next issue of securities
Publicity	Not required to publish reports	Annual reports must be publicly available
Closing procedure	Complex. May take 3-4 months	Complex. Takes a long time

Pros and cons of PJSC and LLC

As noted earlier, each of these forms of legal entity ownership has its own pros and cons. It is impossible to say with exact certainty which one is better. Because in the case of an LLC it is easier to form the authorized capital, the activity does not require publicity, but this form of ownership does not allow entering the world market in the near future. It will take years to achieve this goal.

When organizing a Public Joint Stock Company, we are already talking about companies that want to acquire not only a solid income, but also an appropriate reputation. It is much easier to attract investors with PJSC.

However, this form of ownership is not suitable for everyone. The issue of securities, their registration with the appropriate authority is an expensive procedure. Capital investment in PJSC is long-term in nature and implies making a profit in a rather large volume, but after a few years.

We are all accustomed to thinking that business is a closed sphere, and you can get into it if you have a profitable idea, finances and partners. For a long time, the purchase of shares in Russia was not considered a profitable investment, since there was no trading in securities as such. But since 2015, after the transfer of shares to non-documentary form, the situation on the stock market has changed for the better. Stocks have become a liquid commodity.

Entrepreneurs were also interested in the innovations; they received another tool for attracting investment in their business. But, of course, you can use it only if you organize your enterprise in the form of a public joint stock company (PJSC).

What is a public joint stock company?

Public Joint Stock Company (abbreviation - PJSC) is the name of the organizational and legal form of the economic community. On English this term translates as public corporation. In addition to PJSC, there are also LLCs, JSCs, general partnerships, production cooperatives, etc.

PJSC is a commercial enterprise, the authorized capital of which is divided into parts-shares, and these shares are freely traded on the stock market. What follows from this definition?

• PJSC - a legal entity whose purpose is to obtain commercial profit (there are no non-commercial PJSCs);
• you can do any kind economic activity and extract profit from this (trading in own shares cannot be the main direction of a PJSC);
• PJSC puts up for public auction the right to participate in its authorized capital, recognizes the buyer as its participant, gives managerial powers and pays him a part of the profit;
• the company cannot choose its shareholders, and anyone who wants to buy shares put up on the stock market.

Distinctive features of JSC and LLC:

The procedure for the creation and functioning of public joint stock companies is enshrined in the Federal Law-208 "On Joint Stock Companies". This law provides for the following procedure:

• the founders sign an agreement on the creation of a PJSC, where they indicate the name of the future legal entity, the size of the authorized capital (at least 100,000 rubles), the number of common and preferred shares, the procedure for assessing the contributions of each founder, etc .;
• by an agreement on the establishment of a PJSC, the founders distribute among themselves the primary block of shares (the actual payment of the par value of 50% of the block must be made within 3 months from the moment of state registration of the PJSC, the full redemption - within a year);
• the protocol on the establishment of the company and the Articles of Association are drawn up and signed;
• PJSC is registered with the Federal Tax Service and the Social Insurance Fund;
• opening a bank account;
• the first issue is registered at the Central Bank and an agreement is concluded with an official registrar who will keep the register of shareholders.

Important: since 2014, the abbreviation OJSC, which stands for open joint stock company, has not been used in Russia.

The charter

The only document of title of a public joint stock company is its Charter. It is developed for each PJSC and is individual in nature, although it should also reflect the mandatory conditions.

• name and legal address;
• list of activities;
• authorized capital and data on shares (quantity, nominal value types, etc.);
• the rights of owners of common and preferred shares;
• the procedure for convening a general meeting of shareholders;
• PJSC executive bodies, their competence.

Important: each shareholder has the right to receive from PJSC a certified copy of the current Articles of Association (the cost of issuing a copy should not exceed the cost of paper and copying).

Changes to the Articles of Association are made by decision of the general meeting of shareholders. In the event of an additional issue of shares, amendments related to an increase in the authorized capital may be adopted by the executive body, but this right must be fixed in the Charter itself.

Advice: analysis of the activities of a PJSC should begin with a study of the Charter. Any discrepancy between the activities of the joint stock company and the statutory provisions entails unfavorable legal consequences.

Shareholder rights

A person acquires the rights of a shareholder after purchasing a share and entering information about the purchase in the register of shareholders. After fixing the data, the shareholder can receive an extract from the register.

All shareholder rights can be divided into four categories related to:

• ownership of shares;
• PJSC management;
• part of the profit and property of the company;
• moral rights.

Ownership rights include:

• sale opportunity;
• pledge;
• donation;
• inheritance;
• exchange, etc.

The shareholder exercises these rights under ordinary contracts, taking into account the specifics of the Federal Law “On the Securities Market”. A shareholder exercises the right to manage PJSC at regular and extraordinary general meetings. Issues that can be resolved by shareholders are determined by the Charter. Here are the main ones:

• change of the Articles of Association;
• election or re-election of executive bodies, members of the audit commission and the auditor;
• the amount and procedure for the payment of dividends;
• approval of annual accounts;
• approval of significant transactions, etc.

The term and procedure for notifying the shareholder of the meeting: 20 days before the meeting by registered mail or courier mail.

The shareholder has the right to a percentage of the profits during the work of the PJSC and to part of the property in the event of the liquidation of the business community.

Important: if the enterprise has neither profit nor property, then the shareholder cannot demand any payments in his favor.

Personal non-property rights include the right to information and compensation for moral damage caused by the unlawful actions of a PJSC.

Governing bodies

The PJSC has a rather complex structure of executive bodies, each of which is endowed with its own competence, determined by the Charter.

Some of the executive functions are performed by the shareholders' meeting:

• reporting approval;
• distribution of profits;
• approval of the company's internal documents, etc.

The general meeting does not resolve current economic issues, does not inspect the work of departments, does not give instructions and orders to individual employees, does not dismiss or hire personnel.

Managing current business activities is the task of the CEO and the board. These executive bodies are appointed by the board of directors. The Board is engaged in:

• development of priority directions of the company's activities;
• organization of accounting;
• management of property and finances;
• the conclusion of employment contracts and contracts with personnel, etc.

One of the key governing bodies is the board of directors; it is chosen by the shareholders for the general management of the company. Board of Directors:

• convene an annual and extraordinary meeting of shareholders;
• gives orders to the head of the organization;
• makes a decision on the decrease and increase of the authorized capital, if it is provided for by the Charter;
• approves decisions on additional issue (issue of shares);
• recommends the amount of dividends per share, etc.

Supervision over financial activities of the company is conducted by the audit commission, which is elected by the meeting of shareholders.

Responsibility of participants

Shareholders are responsible to society for the fulfillment of their obligations. The owner of the shares is obliged:

• pay for shares;
• observe the confidentiality regime;
• promptly notify the registrar (the person performing the registration of shares) about changes in their data;
• not to allow actions that may harm the property or non-property rights and interests of the PJSC.

Responsibility for non-payment of shares - deprivation of the right to vote at general meetings. If, as a result of violation of confidentiality rules or in case of untimely notification of the registrar about the change in personal data, the shareholder causes losses to the company, then PJSC may recover material and moral damage in court.

Important: if you (the owner of the shares) are not at the meeting of shareholders, and because of your failure to appear, the work of the entire organization is blocked, then the PJSC may file a claim with you and demand compensation for harm.

The liability of a shareholder to other business entities entering into relations with the company is determined only by the value of the shares that he owns. If the PJSC fell and it faces bankruptcy, then all that a shareholder can lose is his shares.

How does a public joint-stock company differ from a non-public one?

A non-public joint-stock company is a joint-stock company that does not list its shares for public sale. In civil law, for this organizational and legal form, the abbreviation JSC is used, which stands for non-public joint-stock company. Abbreviations for NAO - no.

The main differences between JSC and PJSC:

In addition, for JSCs the lower threshold of the authorized capital is at least 10,000 rubles, there are no requirements for annual publication financial statements and the maximum number of shareholders is limited - 50 entities (individuals and legal entities).

Summing up

The possibilities of a public joint-stock company are interesting both for ordinary citizens who can purchase shares, become co-owners of production assets and receive dividends annually, and for business entities. The latter get a chance to increase their own capital and successfully promote their brand on the market.

In addition, an opportunity for development has emerged around the growing stock activity. These are consulting, auditing and brokerage companies that accompany the activities of joint-stock companies, create new jobs and contribute to the formation of the national gross product.