The Company Law requires shareholders to convene the Shareholders meeting within four months of the end of the fiscal year or before April 30. The decision of the Board of Directors of the company’s shareholders meeting shall be no later than 40 days before the date of such meeting. The decision shall be submitted to the Financial Regulatory Commission and the Mongolian Stock Exchange within three days and it is prohibited by law to make amendments to the meeting protocol after the decision has been made.
The Financial Regulatory Committee shall regulate relations concerning the announcement and convening of shareholders meetings of the joint stock companies in accordance with the “Regulation on the Notice and Supervision of Shareholders”and the timeframe specified in the procedure is shown in the picture. In order to make a decision on shareholders’ meetings, the company’s board of directors must decide on whether the dividend is to be paid and caution for the decision for time being when it will expire.
Therefore, the Financial Regulatory Commission reminds public companies to take timely work in accordance with laws and regulations and submit their meeting materials.
Source: www.frc.mn