The Ministry of Commerce urges the unlisted joint stock companies and the limited liability companies to hold Distance General Assemblies online. The Ministry announces that the deadline for holding the general assemblies for limited liability companies has been extended for two months this year, so that the time limit now is six months from the end of the fiscal year, instead of four months.
This comes within the Ministry’s efforts, and all government agencies, to facilitate the business of the private sector, and for taking all preventive measures to prevent the spread of the covid-19.
The Ministry explained that using modern technology for holding the General Assemblies will help and enable the shareholders or partners to participate in the deliberations of the assemblies and take part in voting about the relevant decisions.
The Ministry aims to enable the shareholders and the partners to review and to have an idea about the business results of their companies, as well as the relevant annual reports, besides participating actively in decision-making. This would contribute to the development and sustainability of these economic entities.