Companies Act

Incorporation of a joint stock company

A joint stock company is a company whose share capital is divided in stocks held by one or more stockholders who are not liable for the company’s obligations, except based on piercing the corporate veil in the cases prescribed by Article 18 of the Companies Act as well as in the case of deletion of…
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Companies Act

Relationship between the joint-stock company and stockholders

According to provisions of the Companies Act relationship between the joint-stock company and stockholders shall be defined with rights and obligations as follows: Right to a dividend Limitations on payments to stockholders Pre-emptive subscription right of the stocks Financial Support of the company in acquiring stocks Withdrawal and cancellation of stocks due to failure to…
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