Purchase - sale of shares

transactions of purchase and sale of shares are subject to registration. The ownership right under such a transaction arises for the new owner of the shares at the time of registration of the transaction. The transaction of purchase and sale of shares is executed by filling out the form of the established form with the signatures of the parties and the intermediary. Transactions with shares made without the participation of investment intermediaries are made in a simple written form. In this case, the entry of a record of the new owner of the shares is the registration of the transaction. Transactions of purchase and sale of shares with the participation of investment institutions of banks, stock exchanges are not certified by a notary. (This rule does not apply to closed joint-stock companies). The share purchase and sale agreement serves as the basis for making an entry in the register of shareholders about the new owner of the shares. The refusal to make entries in the register of shareholders may be appealed to the audit commission of the joint-stock company, to a court or to an arbitration court. By decision of the audit commission of the court or arbitration court, the holder of the register of shareholders is obliged to make an appropriate entry in the register within 2 days from the date of receipt of the decision. In closed joint-stock companies, by virtue of Art. 97 of the Civil Code of the Russian Federation alienation (purchase and sale) of shares is possible with the consent of other shareholders. Shareholders of a closed joint stock company have the pre-emptive right to acquire shares sold by other shareholders of this company. The charter of a closed joint-stock company may allow the assignment of shares to both other shareholders and third parties, or only to other shareholders.