Against the backdrop of increasing challenges posed by international integration and the growing need to enhance the effectiveness of corporate governance, corporate governance standards and principles, as well as the legal framework governing boards of directors, have undergone continuous development. Nevertheless, the provisions of the Law on Enterprises governing meetings of the board of directors of joint-stock companies remain inadequate in addressing various issues arising in practice. This inadequacy has, in turn, affected the operation of the general meeting of shareholders, particularly because the board of directors is vested with the statutory authority to convene general meetings of shareholders. Based on an analysis of the applicable legal framework and the potential legal issues arising in practice, including the need for interim mechanisms to address such issues, this article proposes several recommendations for consideration in the process of finalising the draft amendments to the 2025 Law on Enterprises.
