LAW OF THE KYRGYZ REPUBLIC

of July 28, 2017 No. 154

About introduction of amendments to the Law of the Kyrgyz Republic "About joint-stock companies"

Accepted by Jogorku Kenesh of the Kyrgyz Republic on June 29, 2017

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:

Article 2 to add 1) with the paragraph the twelfth the following content:

"the independent board member - the board member who is not affiliate of this joint-stock company also was not him within three years preceding its election in the board of directors (except for case of his continuance in office of the independent director of this joint-stock company), is not affiliate in relation to affiliates of this joint-stock company; it is not connected by subordination with officials of this joint-stock company or the organizations - affiliates of this joint-stock company and it was not connected by subordination with these persons within three years preceding its election in the board of directors; is not government employee; is not the shareholder's representative at meetings of bodies of this joint-stock company and was not it within three years preceding its election in the board of directors; does not participate in audit of this joint-stock company as the auditor working as a part of auditing organization and did not participate in such audit within three years preceding its election in the board of directors;";

Item 3 of Article 6 to add 2) with the paragraph the fifth the following content:

"The subsidiary cannot acquire shares of the main society.";

Item 1 of Article 38 to add 3) with subitem 11-1 of the following content:

"11-1) approval of auditing organization and/or auditor of society and amount of fee of the auditor;";

4) in Article 45:

a) in paragraph four of Item 1 of figure "20" to replace with figures "10";

b) in paragraph four of item 4 of figure "20" to replace with figures "10";

The paragraph the twelfth Item 1 of Article 54 to state 5) in the following edition:

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