LAW OF THE KYRGYZ REPUBLIC

of April 13, 2012 No. 39

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

Accepted by Jogorku Kenesh of the Kyrgyz Republic on March 2, 2012

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 changes and amendments:

1. Paragraphs the fourth, the seventh and the thirteenth Article 2 to recognize invalid.

2. In item 4 of Article 6 of the word "the authorized state body of the Kyrgyz Republic regulating the security market" shall be replaced with words "the legislation of the Kyrgyz Republic".

3. In paragraph eight of Item 3 of Article 27 of the word "regulatory legal acts of authorized state body on regulation of the security market" shall be replaced with words "the legislation of the Kyrgyz Republic".

4. To state paragraph two of Item 1 of Article 28 in the following edition:

"Society has the right to begin placement of the shares issued by it only after registration of their release. The means received from the personal offer of shares are stored on accumulation account. The money which arrived during sale of publicly offered securities (except for bonds), is stored on the bank account of the broker, performing underwriting service, or depositary of the broker before recognition of public offer of securities by authorized state body on regulation of the security market taken place or cancelled. Before the termination of term of subscription and registration of the report on share issue results according to the legislation of the Kyrgyz Republic on securities use of the means which arrived during their placement is forbidden to society.".

5. In Article 33:

state Item 7 in the following edition:

"7. The holders of the register performing maintaining the shareholder register of the issuer shall open information on shareholders, nominee holders of shares of society and other data according to the legislation of the Kyrgyz Republic.";

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