UKRAINE: NSSMC Approves the Procedure for Issuance and Deregistration of Shares Issue

Friday February 18 2022

On 17^th February 2022, The National Securities and Stock Market Commission (NSSMC) approved the regulation on the procedure for shares issuance, registration and deregistration of the shares issue

The NSSMC developed a document taking into account the changes in legislation, made by the Law of Ukraine on Simplification of Investments Attraction and Introduction of New Financial Instruments, and prescribed in the document the following:

• The peculiarities of interaction between the issuer and the Regulator.
• The Procedure for issuing shares at the establishment of a joint stock company and the documents to be submitted for such registration, as well as the report on the results of the issuance.
• The Procedure for issuing shares in case of changes in the size of the authorized capital of a joint stock company.
• The peculiarities of shares issue registration of certain categories of joint-stock companies (joint-stock companies-banks; joint-stock companies created in the process of privatization and corporatization, etc.).
• The Procedure for deregistration of shares issues.
• The Procedure for carrying out a consolidation or shares split.
• The Procedure for cancellation of repurchased shares by the joint stock company, etc.

The Regulation is applied to public and private joint stock companies except UCITS. However, it is not applied to cases of registration of the issue of shares of joint stock companies created in the result of merger, division, separation or transformation, or to which accession is carried out.

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