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GLOSSARY Affiliated persons —individuals and legal entities that are capable to influence on the activity of legal entities and (or) individuals who carry out entrepreneurial activity. For transparency provision in mutual relations between managing subjects when it is clear who influences the policy and determines decisions in this or that organization, the legislation establishes rigid requirements with regards to account and informing participants of a civil flow and state bodies by the legal entity about presence of affiliated persons. For example, affiliated persons of a joint-stock company are obliged to notify in writing the joint-stock company about shares of the company owned by them with indication of number and type during 10 days of the date of shares purchase. When nonpresentation of the mentioned information or untimely presentation of it by the affiliated person to the joint-stock company causes damage, the affiliated person bears responsibility due to the jointstock company in the size of the caused damage. The joint-stock company is obliged to keep account its affiliated persons and to represent reporting about them accoin compliance with requirements of the legislation of the Russian Federation (Article 93 of Law "On Joint-Stock Companies"). Business — commercial (entrepreneurial) activity of the managing subject. Certification of manufacture — action of the third party confirming that the necessary confidence that properly identified manufacture and its conditions are a pledge of stability of characteristics for manufactured product, services, works, fixed by normative documents. 177

Business.support.structure.in.St.Petersburg  

1. STATE AND MUNICIPAL AUTHORITIES IN ST. PETERSBURG In St. Petersburg the system of state authorities was formed which has statutory object...

Business.support.structure.in.St.Petersburg  

1. STATE AND MUNICIPAL AUTHORITIES IN ST. PETERSBURG In St. Petersburg the system of state authorities was formed which has statutory object...

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