OREANDA-NEWS. As was announced earlier, following a decision of the annual general meeting of shareholders of Kazakhstan Stock Exchange (KASE, or Exchange) of May 15, 2015 the revised Charter of the Exchange was approved.

The new edition of the charter is a result of revision of the effective charter by way of merger of all earlier amendments for purposes of updating and bringing into compliance with the legislation of Republic of Kazakhstan on joint-stock companies and securities market, as well as with the practice common on the Exchange.

In the revised charter:

- the term "Exchange Council" was replaced with the term "Board of Directors";

- positions of the first executive of the Exchange and his deputies were changed from "President" to "Chairman of Management Board", from "First Vice-president and Vice-president" to "deputy Chairmen of Management Board";

- the sentence about participation of members of Board of Directors by way of using information and/or telecommunication technologies ensuring simultaneous two-way transmission, processing, conversion and presentation of interactive information at distance in real time (telephone communication, other types of communication) was clarified.

The Exchange charter approved by the decision of the extraordinary general meeting of shareholders of Kazakhstan Stock Exchange (minutes No. 7 of November 27, 2003), was declared invalid as of May 18, 2015.