Russian LLCs can hold AGMs by absentee voting
14 October 2020 - On 31 July 2020, the Russian government amended the Federal Law 115-FZ (by way of Federal Law No. 297 of 31 July 2020). These amendments provide more flexibility to Russian LLCs in the light of the current Covid-19 pandemic.
The legislation allows LLCs that have not yet held their annual general meetings (AGMs) in 2020 to approve annual reports and annual balance sheets by absentee voting. Similar regulations for Russian joint stock companies (JSC) have been in force since 18 March 2020 (Federal Law 50-FZ).
Companies should check the LLC charter before organising absentee voting. Despite the new amendments, the charter may prohibit absentee voting.