If you pay for shares, you will become a shareholder of a joint stock company. part yet? If not, what conditions need to be met?

If you have paid for shares, have you become a shareholder of the company? If not, what conditions need to be met?

Pursuant to the provisions of Clauses 6 and 7, Article 127 of the 2020 Enterprise Law as follows:

Share transfer

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6. Individuals and organizations receiving shares in the cases specified in this Article only become shareholders of the company from the moment their information specified in Clause 2, Article 122 of this Law is fully recorded in the shareholder register.

7. The company must register a change of shareholder in the shareholder register at the request of the relevant shareholder within 24 hours of receiving the request according to the provisions of the company’s Charter.

At the same time, based on the provisions of Clause 2, Article 122 of the 2020 Enterprise Law:

Shareholder registration book

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2. The shareholder registration book must include the following main contents:

a) Name and address of the company’s headquarters;

b) Total number of shares authorized to be offered for sale, types of shares authorized to be offered for sale and number of shares authorized to be offered for each type;

c) Total number of shares sold of each type and value of equity capital contribution;

d) Full name, contact address, nationality, legal document number of individual for individual shareholders; name, business code or legal document number of the organization, head office address for institutional shareholders;

đ) Number of shares of each type of each shareholder, date of share registration.

According to the above regulations, the buyer only becomes a shareholder (owner of shares) in a joint stock company from the moment the information mentioned in Clause 2, Article 122 Law DoaIndustry 2020 The above is fully recorded in the shareholder book.

If you have paid the money in the transfer contract but have not updated the information in the shareholder book, you are not a shareholder or do not own shares of the company.

When is a joint stock company obliged to update shareholder changes in the shareholder register?

Article 122 of the Law on Enterprises 2020 stipulates the shareholder registration book as follows:

Shareholder registration book

1. Joint stock companies must establish and maintain a shareholder registration book from the time they are granted the Business Registration Certificate. The shareholder register can be a paper document or an electronic data set that records information about share ownership of company shareholders.

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3. The shareholder register is kept at the company’s headquarters or other organizations with the function of keeping the shareholder register. Shareholders have the right to check, look up, extract and copy the names and contact addresses of company shareholders in the shareholder register.

4. In case shareholders change their contact address, they must promptly notify the company to update the shareholder register. The company is not responsible for not being able to contact shareholders due to not being notified of changes in shareholders’ contact addresses.

5. The company must promptly update changes in shareholders in the shareholder register at the request of relevant shareholders according to the provisions of the company’s charter.

According to this regulation, a joint stock company will have to promptly update shareholder changes in the shareholder register at the request of the relevant shareholder according to the provisions of the company’s Charter.

What obligations do shareholders of a joint stock company have?

Shareholders of a joint stock company have the obligations specified in Article 119 of the Law on Enterprises 2020, specifically including:

– Pay in full and on time for the number of shares committed to purchase.

– Do not withdraw capital contributed by common shares from the company in any form, except in the case of the company or another person buying back the shares.

+ In case a shareholder withdraws part or all of the contributed share capital contrary to the provisions of this Clause, that shareholder and people with related interests in the company must be jointly responsible for the debts and other property obligations of the company within the value of the withdrawn shares and the damages caused.

– Comply with the Company Charter and internal management regulations of the company.

– Comply with resolutions and decisions of the General Meeting of Shareholders and the Board of Directors.

– Confidentiality of information provided by the company according to the provisions of the company’s Charter and the law; Only use the information provided to exercise and protect your legitimate rights and interests; It is strictly forbidden to distribute, copy or send information provided by the company to other organizations or individuals.

– Other obligations according to the provisions of this Law and the company’s Charter.