MOSCOW, February 4, 2004. (RIA Novosti correspondent Viktoria Prikhodko) -- At its plenary session on Wednesday, the State Duma (Lower House) approved amendments to the law "On Joint Stock Companies."
Viktor Pleskachevsky, head of the Duma committee on property, said presenting the document that it was designed to protect the rights of shareholders, including minority ones. "The document grants minority shareholders the right to use cumulative voting to become board members of their company," said the deputy.
In his words, the adoption of the law "will help to increase the capitalisation of Russian joint stock companies and hence to augment their investment attractiveness."
The law will be forwarded for the consideration of the Federation Council (Upper House) and, if approved, sent to the president for signature.
