LAW OF THE KYRGYZ REPUBLIC

of October 5, 2011 No. 162

About modification of the Law of the Kyrgyz Republic "About joint-stock companies"

Accepted by Jogorku Kenesh of the Kyrgyz Republic on September 8, 2011

Article 1. Bring in the Law of the Kyrgyz Republic "About joint-stock companies" (Sheets of Jogorku Kenesh of the Kyrgyz Republic, 2003, No. 6, the Art. 240) the following change:

state Article 39 in the following edition:

"Article 39. Decision of general shareholder meeting

1. Except as specified, established by the legislation of the Kyrgyz Republic, voting power at general shareholder meeting on the questions put to the vote have:

shareholders are owners of common shares of society;

shareholders are preferred shareholders of society in the cases provided by this Law.

Vote at general shareholder meeting is performed by the principle "one share - one voice", except as specified carrying out cumulative vote.

2. Decisions on the questions listed in subitems 1-8 of Item 1 of article 38 of this Law are accepted by the majority at least than two thirds of voices of total number of voting shares of society. Counting of votes at general shareholder meeting on the question put to the vote which voting power in case of the decision shareholders - owners of common and preferred shares of society have is performed according to all voting shares jointly.

3. The decision on the questions specified in subitems 2, 5-7, 10, of 12, of 15, of the 20th Item 1 of article 38 of this Law is accepted by general shareholder meeting only according to the proposal of the board of directors of society if other is not established by the charter of society.

4. The decision on the questions specified in subitems 9-18 of Item 1 of article 38 of this Law is accepted by general shareholder meeting the majority at least than two thirds of voices of shareholders - owners of the voting shares which are taking part in shareholder meeting.

5. The decision of general shareholder meeting on the questions listed in subitems 19-20, 22 of Item 1 of article 38 of this Law is accepted by a simple majority vote shareholders - owners of the voting shares of society participating in meeting.

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