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Unit 3. Company law: mosstroy charter

Reading 1:

NAME AND LOCATION. LEGAL STATUS.

OBJECTS AND ACTIVITIES

OPEN JOINT STOCK COMPANY

MOSSTROY

CHARTER

1. Below there is an extract from the charter of a Russian open joint stock company. Read through the text and match the words and expressions in bold with their Russian equivalents given in task 2 infra. Translate the text into Russian:

Article 1. Name and Location

1.1 The Company’s full corporate name shall be «Открытое акционерное общество «Мосстрой»». The Company’s brief name shall be ОАО «Мосстрой». The Latin transcription shall be OAO “Mosstroy”.

1.2 The Company’s location shall be 104 Tverskaya Street, Moscow 112010, Russian Federation.

Article 2. Legal Status

2.1 The Company shall be a legal entity and own its separate property held in its own balance sheet and may, on its own behalf, acquire and exercise property and non-property rights, perform duties, sue and be sued in courts.

2.2 The Company shall have such civil rights and obligations as may be necessary to engage in any activities not prohibited by federal law.

Certain activities, as determined by federal law, may be undertaken by the Company only subject to the obtaining of a special permit/license.

2.3 The Company shall be deemed existing as a legal entity as from its state registration as required by federal law. The Company is formed for an indefinite period.

2.4 The Company may duly open bank accounts both in and outside the Russian Federation.

2.5 The Company shall be liable for its obligations with all its property.

2.6 The Company shall not be liable for any obligations of its shareholders.

2.7 The Company shall have its seal, stamps and letterheads bearing its name, and its logo (trademark).

2.8 The shareholders shall not be liable for the Company’s obligations and shall bear the risk of losses associated with its activities within the limits of their respective shares’ value. Any shareholder who has not paid up its shares in full shall be jointly and severally liable for the Company’s obligations to the extent of the unpaid portion of their shares’ value.

Article 3. Objects and Activities

3.1 The principal object of the Company is to earn profits.

3.2 The Company shall engage in any activities not prohibited by federal law. Any licensable activities shall be subject to a license.

3.3 The activities of the Company shall be as follows:

- construction of any industrial, agricultural or civil projects, and installation of equipment;

- acting as main contractor;

- acting as customer;

- manufacture and sales of consumer goods;

- wholesale and retail trade;

- establishment of sales outlets (stores, sales trucks, canteens, snack bars);

- organization and provision of maintenance and consulting services;

- provision of marketing and brokerage services;

- art services;

- export/import operations with respect to any agreed range of products, equipment and services as may be needed for customers;

- education services;

3.4 The Company shall ensure the registration and safety of any personnel-related documents and their duly and timely delivery into state custody in the event of its reorganization or liquidation.

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