Conclusion of new agreements between shareholders of Ukrainian joint-stock companies and depository institutions

On 12 October 2014, a year will have passed since the Law of Ukraine ‘On the Depository System of Ukraine’ No. 5178-VI entered into force. The law stipulates that all shareholders of Ukrainian joint-stock companies (JSCs) must have a securities account of the depositor (holder of securities) in the relevant Ukrainian depository institution (before the adoption of the law, such person was defined as a ‘custodian’) under the securities account agreement. At the same time, the law prescribes that the holder of the securities that have been dematerialised (converted from documentary form into non-documentary form) must contact the depositary institution specified by the issuer and enter into a securities account agreement with such institution in its own name or transfer rights to securities to its securities account opened with another depositary institution…

Click on the link below to read the rest of the Dentons briefing.

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