What are closed joint stock companies now called. What is the difference between a public joint stock company and an OJSC? Public Joint Stock Company: An Overview of the Term

Before starting his own business, a potential entrepreneur should understand the existing forms of ownership and determine what suits his company. Next, we will analyze the form of ownership of the PJSC, which appeared relatively recently. PAO - what is it? How to arrange documents? Read about all this in the article.

In a nutshell

PAO - what is it? Public Joint Stock Company - a new classification of economic activities. Its key differences are the openness and transparency of investment processes, the entry of an unlimited number of co-owners and strict regulations of internal corporate processes. This form of activity is preferred by the largest russian organizations.

In detail

PAO - what is it? The very concept of the public joint stock company appeared in civil law relatively recently, more precisely in the fall of 2014. It means a form of organization of a public enterprise where co-owners can alienate the shares that are their property. With the emergence of PJSC, many large Russian organizations re-registered, for example, PJSC "Bank Otkrytie".

Key differences:

• unlimited number of co-owners;
• free placement and circulation of shares on the securities market;
• the right not to deposit money into the authorized capital before registration and opening an account.

PAO - what is it? The term "public" means that the disclosure of information about this type of activity must be complete, as opposed to non-public. This ensures the transparency of the company, which makes the investment process more attractive.

Examples of PJSCs in Russia

• Otkritie Bank PJSC.
• PJSC "Moscow United Electric Grid Company".
• Branch of Sberbank PJSC.
• PJSC "MDM Bank".
• Branch of PJSC "MOESK" and others.

Public or non-public activity

Speaking in simple words, a public joint-stock company is the former OJSC, and the non-public one is in the past CJSC, but this is an overly simplified definition. Consider what rules are used in the new classification of concepts in relation to companies with different legal status:

• Characteristic feature of PJSC is an open list potential owners of shares, while a non-public joint-stock company cannot sell its own shares at public auctions.
• According to the law, a PJSC must have a clear gradation of issues that relate to the area of \u200b\u200bresponsibility of members of the board of directors and are determined for discussion at a meeting of shareholders. Non-public activities are more independent. Here the collegial governing body can be changed to an individual one, as well as other reforms in the work of governing bodies can be carried out.

• All resolutions adopted at the general meeting, as well as the position of the PJSC participants, must be confirmed by representatives of the registrar organization. NAO can resolve this issue with a notary.
• In a non-public joint-stock company, it is possible to include in the charter or corporate agreement a clause stating that when selling shares preemptive right the buyout is available from the current shareholders and only then from other interested parties. In PJSC this is unacceptable.
• All corporate agreements entered into in PJSCs must go through a disclosure process, while in NAO it is enough to notify of the conclusion of the agreement, the contents of which may be confidential.

All actions for the redemption and circulation of securities provided for by Federal Law No. 208, Ch. 9 are not applicable to non-public joint stock companies.

PAO. Opening a legal entity

The registration process and entering data on PJSC in state Register carried out in accordance with the legislation of the Russian Federation. Feature of this legal entity lies in the fact that when registering it, it is not required to provide the Charter of the company, the action takes place on the basis of the constituent agreement. The criteria of this document are regulated by article 52 of the Civil Code of the Russian Federation. And also for the formation of a PJSC, joint capital is required, the maximum and minimum limits of which are not spelled out.

List of documents for registration:

• A photocopy of the memorandum of association, certified by a notary.
• Agreement confirming the right to use the legal address.
• Photocopies of TIN and passports of all shareholders.
• Payment order or check confirming payment of the state fee and other registration costs.

Writing a statement does not stand out in any way. All samples are presented for review on the official portal of the Federal Tax Service of Russia. The main requirements are that the application must be completed manually in block letters or on a computer without errors, typos and corrections. And the attached documents must be drawn up in accordance with the established standards, otherwise registration will be refused.

Important! The entire set of documents must be numbered and laced up.

Constituent agreement

PJSC, the opening of which took place, may have SPD and companies that carry out commercial activities... For the organization and registration of a PJSC, the formation of a constituent agreement is required, the most important points of which are:

• The name of the institution in full or in abbreviated form, the use of abbreviations and foreign words is allowed.
• Full legal address.
• The sequence of conducting activities.
• Contribution amounts, their total amount.
• Equity participation and the size of the contribution for each partner are formed.
• An entry fee payment plan is fixed.
• Liability for non-compliance with the terms of the constituent agreement is determined.

In addition to key provisions, in the agreement:

• the execution of general activities is regulated;
• the rules for organizing the property complex are spelled out;
• the principles of execution of the conditioned activities are established;
• rules for the division of income and expenses have been determined;
• the conditions for the acceptance and secession from the PJSC are prescribed

Step-by-step registration instructions

Due to the fact that most of the processes for registering a legal entity are now optimized, it is possible to issue a certificate in a short period, no more than three days from the date of submission of documents to authorized bodies... To register and receive PJSC details, you need to perform a few simple steps:

• Name. Choosing an original name for the organization.
• Legal address. It is necessary to resolve the issue of buying / renting premises to register a legal address.
• Field of activity. Choosing a business direction and establishing it in the OKVED system.
• Determination of the amount of the authorized capital.
• Protocol on the establishment of PJSC.
• Preparation of a constituent agreement based on the scope of activity.
• Submission of an application for registration of a PJSC.
• Payment of state fees.
• Submission of an application for a simplified tax system (if necessary).
• Transfer of a package of documents to the FMS authorities and receipt of a receipt confirming their acceptance by employees.

Registration cost

In most cases, upon registration new organization the founders do not have free funds, and therefore they are trying to save on everything. The main question for startups is how much it will cost if:

• use the help of specialists;
• act independently.

There are two sides to the same cost saving problem. When contacting professionals, the costs of registration will certainly increase, however, upon concluding an agreement to provide legal services, the company's clients receive a full guarantee of the quality of the services provided. Moreover, in the future such services will be important for a representative company.

Approximate prices:

• An integrated approach - from 8 to 12 thousand rubles.
• The state registration fee is 4 thousand.
• Formation and certification of the constituent agreement - from 300 to 600 rubles.

The luckiest ones are those who have a lawyer among the founders. In this case, you can save on registration and registration, then it remains to pay only the state fee and a small amount for the certification of documents by a notary.

The subject of economic relations, organized on the basis of a voluntary agreement of several persons or organizations.

The capital of the JSC is formed by issuing and selling issued shares. The main goal of the corporation is to maintain economic activity, which aims to obtain maximum profit in the interests of shareholders.

A JSC is a legal entity, the capital of which is made up of contributions from shareholders-shareholders and founders. The shareholders are not liable for the obligations of the JSC, due to which their possible losses are limited only by the value of the securities purchased earlier.

The founders of the corporation are responsible for the performance of the company in the amount of the share contribution made to the statutory fund. The main governing body is general meeting shareholders. Organizational structure AO is difficult, but membership regardless of the share is reliable.

A share is a financial document that confirms the contribution of a shareholder to the authorized capital of the company and gives him the right to:

• receiving part of the profit (dividend);
• participation in enterprise management;
• obtaining a property share if the organization is declared bankrupt or liquidated.

Joint-stock companies are represented by two main types.

• Open joint stock companies (OJSC).
• Closed joint stock companies (CJSC).

Such structures can function in any field of activity: industrial, commercial, intermediary, banking, insurance, etc.

Types of shares in JSC

According to the form of appropriation of income, shares of joint-stock companies can be divided into two types:

• simple;
• privileged.

In the first case, the holders of securities have:

• the right to vote at general shareholders' meetings (one vote \u003d one share. The more securities a shareholder owns, the more significant his vote at meetings);
• the right to receive dividends (part of the profit) in the amount equivalent, the amount of which depends on the result of the corporation's work and is no longer guaranteed by anything.

Joint-stock companies can independently dispose of their capital due to the fact that shareholders do not have the right to demand from the company the return of the deposited amount money... If the company does not pay dividends or, instead of cash, the owners of the securities receive new shares, the shareholders cannot collect money in court or declare the company bankrupt. Each of the shareholders is a co-owner of the capital of the JSC. Each of them voluntarily took responsibility for possible risks, which are associated with losses of the company or its bankruptcy. By decision of the meeting of shareholders, the corporation has the right to distribute only a part of the profit, leaving the unallocated share at its disposal.

Holders of preferred shares cannot vote during shareholders' meetings, but this type of securities gives them the right to receive a guaranteed income, regardless of what results the company has achieved as a result of work. In the event of bankruptcy of the company, the owners of preferred shares receive the right of priority payment of the par value of the securities.

Joint-stock companies keep an accounting book (register) in which data on holders of registered shares are recorded without fail. Registration is required not only upon first receipt, but also upon subsequent resale of securities. This allows you to create a kind of insurance against the purchase of a controlling stake (more than 51% of all issued shares) by people whose financial investments are of dubious origin. Bearer shares are admitted to free circulation on the stock market.

We all used to think that business is a closed sphere, and you can get into it if you have profitable idea, finance and partners. Buying shares for a long time in Russia was not considered a profitable investment, since there was no trading in securities as such. But since 2015, after the transfer of shares to non-documentary form, the situation on the stock market has changed for the better. Stocks have become a liquid commodity.

Entrepreneurs were also interested in the innovations; they received another tool for attracting investments in their business. But, of course, you can use it only if you organize your enterprise in the form of a public joint stock company (PJSC).

What is a public joint stock company?

Public Joint Stock Company (abbreviation - PJSC) is the name of the organizational and legal form of a business community. On english language this term translates as public corporation. In addition to PJSC, there are also LLCs, JSCs, general partnerships, production cooperatives etc.

PJSC is a commercial enterprise, the authorized capital of which is divided into parts-shares, and these shares are freely traded on the stock market. What follows from this definition?

• PJSC - a legal entity whose purpose is to obtain commercial profit (there are no non-commercial PJSCs);
• you can engage in any kind of economic activity and make profit from it (trading in your own shares cannot be the main direction of a PJSC);
• PJSC puts up for public auction the right to participate in its authorized capital, recognizes the buyer as its participant, gives managerial powers and pays him a part of the profit;
• the company cannot choose its shareholders, and anyone who wants to buy shares put up on the stock market.

Distinctive features of JSC and LLC:

The procedure for the creation and functioning of public joint stock companies is enshrined in the Federal Law-208 “On Joint Stock Companies”. This law provides for the following procedure:

• founders sign an agreement on the creation of a PJSC, where they indicate the name of the future legal entity, the size of the authorized capital (at least 100,000 rubles), the number of common and preferred shares, the procedure for assessing the contributions of each founder, etc .;
• by an agreement on the creation of a PJSC, the founders distribute among themselves the primary block of shares (the actual payment of the par value of 50% of the block must be made within 3 months from the moment of state registration of the PJSC, the full buyback - within a year);
• the protocol on the creation of the company and the Charter are drawn up and signed;
• PJSC is registered with the Federal Tax Service and the Social Insurance Fund;
• a bank account is opened;
• the first issue is registered at the Central Bank and an agreement is concluded with an official registrar who will keep the register of shareholders.

Important: since 2014, the abbreviation OJSC, which stands for open joint stock company, has not been used in Russia.

The charter

The only document of title of a public joint stock company is its Charter. It is developed for each PJSC and is individual in nature, although it should also reflect the mandatory conditions.

• name and legal address;
• list of activities;
• authorized capital and data on shares (quantity, nominal value types, etc.);
• rights of holders of common and preferred shares;
• the procedure for convening a general meeting of shareholders;
• executive bodies PJSC, their competence.

Important: each shareholder has the right to receive from PJSC a certified copy of the current Articles of Association (the cost of issuing a copy should not exceed the cost of paper and copying).

Changes to the Articles of Association are made by decision of the general meeting of shareholders. In the event of an additional issue of shares, amendments related to an increase in the authorized capital may be adopted by the executive body, but this right must be fixed in the Charter itself.

Advice: analysis of the activities of a PJSC should begin with a study of the Charter. Any discrepancy between the activities of the joint stock company and the statutory provisions entails adverse legal consequences.

Shareholder rights

A person receives the rights of a shareholder after purchasing a share and entering information about the purchase in the register of shareholders. After fixing the data, the shareholder can receive an extract from the register.

All shareholder rights can be divided into four categories related to:

• ownership of shares;
• pJSC management;
• part of the profit and property of the company;
• moral rights.

Ownership-based rights include:

• sale opportunity;
• pledge;
• donation;
• inheritance;
• exchange, etc.

The shareholder exercises these rights under ordinary contracts, taking into account the specifics of the Federal Law "On the Securities Market". A shareholder exercises the right to manage PJSC at regular and extraordinary general meetings. Issues that can be resolved by shareholders are determined by the Charter. Here are the main ones:

• change of the Charter;
• election or re-election of executive bodies, members of the audit commission and the auditor;
• the amount and procedure for the payment of dividends;
• approval of annual accounts;
• approval of significant transactions, etc.

Time and procedure for notification of the shareholder about the meeting: 20 days before the meeting by registered mail or by courier mail.

The shareholder is entitled to a percentage of the profits during work of PJSC and for part of the property during the liquidation of the economic community.

Important: if the enterprise has neither profit nor property, then the shareholder cannot demand any payments in his favor.

Personal non-property rights include the right to information and compensation for moral damage caused by the unlawful actions of a PJSC.

Governing bodies

The PJSC has a rather complex structure of executive bodies, each of which is endowed with its own competence, determined by the Charter.

Some of the executive functions are performed by the shareholders meeting:

• reporting approval;
• distribution of profits;
• approval of internal documents of the company, etc.

The general meeting does not resolve current economic issues, does not inspect the work of departments, does not give instructions and orders to individual employees, does not dismiss or hire personnel.

Supervising current economic activities is a task general director and board. These executive bodies are appointed by the board of directors. The Board is engaged in:

• development priority directions the activities of the company;
• organization of accounting;
• management of property and finances;
• conclusion labor contracts and contracts with personnel, etc.

One of the key governing bodies is the board of directors; it is chosen by shareholders for general management of the company. Board of Directors:

• convene an annual and extraordinary meeting of shareholders;
• gives orders to the head of the organization;
• decides on the decrease and increase of the authorized capital, if it is provided for by the Charter;
• approves decisions on additional issue (issue of shares);
• recommends the amount of dividends per share, etc.

Supervision over financial activities of the company is conducted by the audit commission, which is elected by the meeting of shareholders.

Responsibility of participants

Shareholders are responsible to society for the fulfillment of their obligations. The owner of shares is obliged:

• pay for shares;
• observe the confidentiality regime;
• promptly notify the registrar (the person performing the registration of shares) about changes in their data;
• not to allow actions that may harm the property or non-property rights and interests of the PJSC.

Responsibility for non-payment of shares - deprivation of the right to vote at general meetings. If, as a result of a violation of confidentiality rules or in case of untimely notification of the registrar of a change in personal data, a shareholder causes losses to the company, then PJSC may recover material and moral damage in court.

Important: if you (the owner of the shares) are not at the meeting of shareholders, and because of your failure to appear, the work of the entire organization is blocked, then the PJSC may file a claim with you and demand compensation for harm

The responsibility of a shareholder to other business entities entering into relations with the company is determined only by the value of the shares that he owns. If the PJSC fell and it faces bankruptcy, then all that a shareholder can lose is his shares.

How does a public joint-stock company differ from a non-public one?

A non-public joint-stock company is a joint-stock company that does not list its shares for public sale. In civil law, this organizational and legal form uses the abbreviation JSC, which stands for non-public joint-stock company. Abbreviations for NAO - no.

The main differences between JSC and PJSC:

In addition, for JSCs the lower threshold of the authorized capital is at least 10,000 rubles, there are no requirements for the annual publication of financial statements and is limited maximum amount shareholders - 50 entities (individuals and legal entities).

Summing up

The possibilities of a public joint-stock company are interesting both for ordinary citizens who can purchase shares, become co-owners of production assets and receive dividends annually, and for business entities. The latter get a chance to increase equity and successfully promote your trade mark on the market.

In addition, there is an opportunity for development around the growing stock activity. These are consulting, auditing, and brokerage companies that accompany the activities of joint stock companies, create new jobs and contribute to the formation of the national gross product.

Hello! If we talk simple language, a joint-stock company is a legal form that is created with the aim of pooling capital and solving business problems. In this article, we will take a closer look at how PJSC differs from NAO.

AO classification

Until 2014 inclusively, all JSCs were divided into two types: JSC (closed) and JSC (open). In the fall of 2014, the terminology was abolished, and the division into public and non-public societies began to operate. We will dwell on this classification in more detail. It is worth considering that these terms are not equivalent, not only the terms themselves have undergone changes, but also their signs and essence.

Characteristics of public and non-public societies

Public joint stock companies (abbreviated PJSC) create capital at the expense of securities (shares), or by transferring fixed assets to securities... The functioning of such companies, their turnover must fully comply with Federal law "On the securities market" adopted in the Russian Federation.

Also, taking into account all the conditions that the legislator sets, publicity should be mentioned in the title.

Non-public companies include companies with limited liability and joint stock companies (JSC).

Let us consider the comparative characteristics using the table below. It clearly presents important criteria for comparative analysis, although this list is not complete.

Table: Comparative characteristics of PJSC and NAO

Indicators for comparative analysis
Name	The presence of the name in Russian, the mention of publicity is mandatory	Availability of the name in Russian, with the obligatory indication of the form
Minimum allowable size authorized capital		10.000 rub.
Allowable number of shareholders	Minimum 1, maximum not limited by law	Minimum 1, maximum not limited by law
Availability of the right to conduct an open subscription for the placement of shares	There is	Absent
Possibility of public circulation of shares and securities	maybe	Does not have such a right
Presence of a board of directors or supervisory board	Availability is required	Allowed not to create if shareholders are not more than 50

The main features of public joint stock companies are the following:

• The number of shareholders is not limited;
• Free circulation of shares is allowed.

If we talk about the authorized capital, then its size is also determined by federal legislation. The formation of the authorized capital of a PJSC occurs due to the fact that shares are issued for a certain amount of money.

The size of the authorized capital in this case is such a value that can vary, decrease or, conversely, increase. It depends, first of all, on how the shares are redeemed. As can be seen from the above table, the authorized capital is 100,000 rubles.

As practice shows, the control by the inspection bodies is stricter than in other cases. This is explained, first of all, by the fact that all statutory documents say that this company is as open as possible to third parties. That is, it is quite clear that the company's shares can be purchased by citizens. Accordingly, supervisory authorities require maximum transparency and availability of all data.

For more complete information on this issue, it is worth referring to the Civil legislation of the Russian Federation.

Statutory documents

The main document for PJSC is the charter. It, as a rule, reflects all the provisions governing the activities of the organization, and information about openness is also recorded.

All procedures for the issue of shares are detailed in the charter, and there is also information on the calculation and procedure for payment of dividends.

Availability of property fund and shares

The property funds of a PJSC are formed, first of all, due to the turnover of the organization's shares. In the same time, net profit, which will be received during the organization's activities, may be included in the property fund. The law does not prohibit this.

PJSC governing bodies

Principal implementing body management activities in PJSC it is a general meeting of shareholders. It usually takes place once a year, initiated by the board of directors. If such a need arises, the meeting can be held at the initiative of the audit commission, or based on the results of the audit.

It often happens that a PJSC issues a large number of its shares on the market, and then the number of shareholders may number more than one hundred people. Collecting them all at the same time in one place is an impossible task.

There are two ways to solve this problem:

• The number of shares whose owners can participate in the meeting is limited;
• Discussions are held remotely using the method of sending out questionnaires.

The meeting of shareholders makes all important decisions on the activities of PJSC, plans measures for the development of the company in the future. The rest of the time, the board of directors fulfills management responsibilities. Let's explain in more detail what kind of control it is.

IN large companies the number of members of the board of directors can be up to 12 people.

Forms of management activity

Formed on the basis of the legislation of European countries. Usually this:

• Meeting of all shareholders;
• Board of Directors;
• General Director in a single person;
• Control and Auditing Commission.

As for the types of activity, it can be any that is not prohibited by the law of our state. There can be only one main activity.

Some types of activities require licensing, which can be passed after the PJSC completes the registration procedure.

The legislation of the Russian Federation prescribes all PJSCs to post the results of the annual accounts on the official websites of the companies. In addition, the results of activities for the year are checked for compliance with reality by auditors.

Currently non-public are JSC (joint stock companies), LLC. The main requirements that legislation imposes on NAO are as follows:

• The minimum authorized capital is 10,000 rubles;
• There is no indication of publicity in the title;
• Shares must not be offered for sale or listed on exchanges.

An important fact: the non-public nature of the organization implies great freedom in the implementation of management activities. Such companies are not required to post information about their activities in public sources, etc.

Statutory documents

The charter is the main document. It contains all the information about the organization, entered property data, and so on. If there are legal problems, this document can be used in court.

Therefore, the charter must be written in such a way that all loopholes and flaws are completely excluded. When the charter is in the drafting stage, you should carefully analyze the regulatory documents, or seek advice from specialists who have experience in developing this type of documentation.

In addition to the charter, an agreement called a corporate agreement can be concluded between the founders. Let us dwell on the analysis of this document in more detail.

A corporate agreement can be called a kind of innovation, in which the following points are prescribed:

• All parties to the agreement must vote in the same way;
• The total price for shares owned by all shareholders is set.

But this agreement implies one clear limitation: shareholders are not obliged to always agree with the position of the governing bodies on any issues. By and large, this is a gentlemen's agreement translated into a legal plane. If the corporate agreement is violated, this is a reason to admit invalid decisions meetings of shareholders.

Note that the members of the NAO can be its founders, who are also its shareholders. This is due to the fact that shares cannot be extended beyond these persons.

The number of shareholders is also limited, it cannot exceed 50 people. If their number is more than 50, the company must be re-registered.

Governing bodies of NAO

In order to manage a non-public joint-stock company, a general meeting of the company's shareholders is held. All decisions made at the meeting are certified by a notary, and they can also be certified by the person who heads the counting commission.

Property of NAO

After an independent assessment, it can be contributed to the authorized capital as an investment.

NAO shares

• Do not apply publicly;
• Public subscription is not possible.

If we talk about the types of activities, then everything is allowed that is not prohibited. That is, if a specific type of activity is not prohibited by the legislation of the Russian Federation, it can be carried out.

In general, the essence of the NAO is that these are societies that simply do not issue shares on the market, they practically existed before the adoption of the new CJSC law, but nevertheless, they are not the same thing.

There is no obligation to post the results of financial statements for the year for NAO. Such data are usually only of interest to shareholders or investors, and in this case they are the founders who already have access to all the necessary information.

By definition business companies includes public and non-public organizations carrying out commercial activities in which the authorized capital is a share. The property fund is created from the contributions made by the founders.

Business companies are also classified into public and non-public.

The ability to move from one form to another

The legislation does not prohibit the change of one organizational form to another. For example, it is quite permissible to transform NAO into PAO. What actions need to be taken for this:

• To increase the size of the authorized capital up to 1000 minimum wages;
• Develop documentation that will confirm that the rights of shareholders have changed;
• Conduct an inventory of the property fund;
• Conduct inspections with the involvement of auditors;
• Develop an updated version of the charter and all related documentation;
• Carry out the re-registration procedure;
• Transfer property to a newly formed legal entity. face.

As a result of legislative reforms in corporate law there have been many changes. The usual concepts were replaced by new ones.

Although all the changes took place back in 2014, in some cities you can still find signs with familiar CJSC or LLC. But all new organizations are registered exclusively as public or non-public companies.

Conclusion

The creation and registration of a joint stock company is a process that requires attention and responsibility. Problems of a different nature arise even in the process, so you should not save on your future company, and in case of any doubts, you should contact qualified specialists.

Making the right choice is the first step along a long road to achieving success in, so you need to make a decision carefully, thinking over everything to the smallest detail.

The leader of the Russian banking system occupies a leading position in the credit rating. In 2018, by key indicators (assets, capital, loan portfolio, profit, deposits individuals, investments in securities) PJSC Sberbank ranks first among the banks of the Russian Federation. But what does the name of Sberbank PJSC itself mean, and how does it stand for?

The bank made a change in the organizational and legal form

Renaming from OJSC to PJSC Sberbank means a change in the organizational and legal form of a financial organization. The procedure was associated with government requirements and was legally enshrined.

PJSC Sberbank, whose abbreviation is public joint-stock company, officially changed the form of ownership on August 4, 2015. This operation must be performed by all JSCs, in accordance with the changes introduced to the Civil Code of the Russian Federation. There are no boundary dates for the procedure, it all depends on the specific enterprise.

Structure of PJSC Sberbank

The government justifies this need by increasing control over all JSCs. In particular, this concerns the mandatory annual audit of the company's accounting department. It is believed that the procedure will minimize or eliminate the risk of "black", double-entry bookkeeping.

Structure of a Public Joint Stock Company

The main difference between PJSCs is that there are no restrictions on the number of shares held by one citizen.

Other differences between OJSC and PJSC include:

• In the event of bankruptcy, the shareholders of the JSC are liable only in the amount spent on the purchase of shares, they do not risk other means;
• PJSC shareholders are liable subsidiary. In case of a shortage of the company's property, the shareholders are liable for the obligations, which influence the management of the bank (if the bankruptcy is caused by the actions of the members of the company).

But there are no significant differences between the forms of ownership.

What has changed after changing the name to PJSC?

Changing the acronym indicates greater responsibility towards citizens

This re-registration takes place together with the introduction of amendments to the Charter, therefore, the corresponding clauses were added to the Bank's Charter, explaining the principles of relationships under the new organizational form, and irrelevant sections were removed. Two copies of it, minutes of the meeting of shareholders and a statement established sample were referred to the tax office as prescribed for the procedure. After the official name change, financial institution completed the following mandatory actions:

1. Changed printing.
2. Changed the name on the website, on the signs, in the post office box.
3. All clients have been warned about the new form of ownership and the need to enter the correct details when filling out the documents.
4. If necessary or at the request of counterparties, invoices, contracts, agreements are reissued.

Main differences between a Public Joint Stock Company and an Open Joint Stock Company

After the change in the form of ownership, the bank details were changed (OJSC to PJSC), however, INN, BIK, OGRN, correspondent accounts, addresses and telephones remained the same. After the entry into force of the new name, a number of documents (settlement, administrative, accounts) containing the previous name are not taken into account as illegal. The changes do not apply to such situations.