• Corporate Secretary

    September 19, 2011

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    Posted in: General

    And in fact, both cases have their attractive sides. With self-administered, the register is always "at hand", and any operation in the registry can be performed directly on the location of the company, the analytical information available to management of the issuer at any time, and the safe in which to store documents that make up the system of keeping the registry, creates a feeling of security and reliability. But, as practice shows, in a separate registry of increasing the likelihood of violations that create the ground for conflict of interests within society, and loss of property rights investors. Still fresh in the memory raider attack, supported by a fake registry, "double" the registry, or simply force the withdrawal of the registry from the most reliable, metal enclosure. For this reason, many stock Society, by law, have the right to register themselves, prefer to use the services of specialists and passed the registry for storing specialized registrar. However, a considerable number of societies, sure of Security of your storage and the skills of their employees, has continued to register yourself at your own risk. The situation changed with the release of the Order of the Federal Financial Markets Service dated December 27, 2007 07-113/pz-n, which establishes the Additional requirements to issuers engaged in self-maintaining a register of holders of securities. In accordance with the order, the responsibility for maintenance and storage of the register is assigned only to the person performing the functions of individual executive body (which usually is the CEO of company), and can not be assigned to other persons or other bodies of the issuer. In other words, if conflict situations, "fault" error in the registry system can not be passed on to the employee (or group of employees) who are in the state of the issuer and which maintains the register. In independent, so-called "manual" of the registry, this work was entrusted to a specially appointed Corporate Secretary, or, more often – legal department (company lawyer), or even when the absence of a state attorney, accountant society.

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