UDK: 340.132
Viktoriya An. Nikulina - Russian University of Transport (MIIT), Moscow, Russia
Abstract. The current paper has provided a comprehensive analysis of the legal aspects of control and supervision in joint-stock companies with predominant state participation, using the example of the open joint-stock company “Russian Railways”. The study is based on an examination of the regulatory framework, including the Federal Laws “On Joint-Stock Companies” and “On Railway Transport in the Russian Federation”, decrees of the Government of the Russian Federation, and internal regulatory documents of JSC Russian Railways. There has been considered the multi-level structure of control bodies, including internal governance bodies (the general meeting of shareholders, the board of directors, the audit commission, and internal audit), external audit bodies, and state supervisory bodies (Rostransnadzor, the Accounts Chamber of the Russian Federation, and the Federal Antimonopoly Service of Russia). There have been also analyzed the legal mechanisms for protecting the interests of the state as the primary shareholder, including the requirement to approve major transactions, the preemptive right to acquire shares, and the establishment of limits on remuneration of officials. The conducted analysis has revealed the key legal problems with the control and supervision system at JSC “Russian Railways”, such as duplication of functions among various control bodies, insufficient independence of control bodies from the executive body, lack of effective coordination between internal control bodies and state supervisory bodies, the absence of a unified methodological framework for conducting control activities, and limited access of control bodies to information. There has been proposed a set of recommendations to improve the control and supervision system, including a clear delineation of the competencies of control bodies, to strengthen their independence by establishing criteria for director independence, to develop coordination mechanisms between internal control and state supervisory bodies, to develop uniform methodological recommendations, and define clear limits on access to information. There has been recommended to strengthen the application of international corporate governance standards and OECD recommendations for state-owned enterprise management. The practical significance of the current work is that the proposed recommendations can be used to improve the systems of control and supervision in other state-owned joint-stock companies and to develop regulatory legal acts governing the management of state property. Its theoretical significance is in its contribution to the development of legal science in the field of corporate law and the legal regulation of state-owned enterprises.
Статья целиком →
Transport Law and Security