RESOLUTION OF THE PLENUM OF THE SUPREME COURT OF THE RUSSIAN FEDERATION AND PLENUM OF THE SUPREME ARBITRATION COURT OF THE RUSSIAN FEDERATION

of February 5, 1998 No. 4/2

About application of Item 3 of article 94 of the Federal law "About Joint-stock Companies"

For the purpose of ensuring uniform application by courts and Arbitration Courts (further - courts) Item 3 of article 94 of the Federal law "About Joint-stock Companies" * (in edition of the Federal Law adopted by the State Duma on May 17, 1996) the Plenum of the Supreme Court of the Russian Federation and the Plenum of the Supreme Arbitration Court of the Russian Federation decide to make to courts the following explanations.

According to Item 3 of article 94 of the Law constituent documents of the joint-stock companies created before enforcement of the called Law were subject to reduction in compliance with it till July 1, 1997. The constituent documents of joint-stock companies which are not brought into accord with the Law before the specified date are considered as invalid. Proceeding from it courts in case of the dispute resolution need to mean the following.

1. The joint-stock company created before introduction of the Law in action in case of not reduction till July 1, 1997 of the constituent documents in compliance with the provisions of the law can be liquidated by a court decision based on Item 2 of Article 61 of the Civil code of the Russian Federation upon the demand of state body or local government body which is granted the right to presentation of such requirement (Item 3 of article 61 of the Code).

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