OREANDA-NEWS. January 10, 2013. The Cabinet of Ministers of Ukraine at its meeting approved the draft Law of Ukraine "On Amendments to Certain Legislative Acts of Ukraine (concerning the improvement of joint stock companies)". This was started by Head of the National Commission on Securities and Stock Market Dmytro Tevelev during a press briefing at the Government House.

"Continuous improvement of corporate governance as the main mechanism for the protection of investors is a key task of the Commission and the Government. With these changes, we are closer to European standards. Thus, we create a favourable investment climate for comfortable investing in the economy of Ukraine", the Head of the National Commission on Securities and Stock Market said.

According to Dmytro Tevelev, this document will address many issues, including - changes to the provision of regular information, improvement of the mechanism of the holding general meeting of shareholders (in particular, the draft law provides the possibility of absentee voting at general meetings of the company). Also among the innovations of the document - regulating the functioning of the Corporate Secretary, mechanisms of transformation of joint stock companies and improve the processing market valuation of securities, including those that are redeemable at the shareholders.

Adoption of the law will improve the level of corporate governance in joint stock companies and make these companies more transparent and open, and as a result - much more attractive to investors

The document envisages changes to the Labour Code of Ukraine, the Commercial Code of Ukraine, the Civil Code of Ukraine, Laws of Ukraine "On State Regulation of Securities Market in Ukraine", "On state registration of legal entities and private individuals - entrepreneurs", "On Securities and Stock market" and "On Joint Stock companies".