Analytics Publications

20
March
2017

Legislation update for the end of 2016 / early 2017

The legislative changes covered in our latest review concern various sectors of the Russian economy and branches of law. A raft of important changes to the Russian Tax Code have entered into force: new regulations for property developers and the terms and conditions of forward funding agreements have been introduced; a new procedure for approval of major transactions and related-party transactions has been established; the concept of subsidiary liability for company liabilities has been extended beyond bankruptcy cases; a law on the recovery of damages in favour of creditors has been passed; penalties for personal data law breaches have increased — in particular, seven new administrative offence elements have been added to the Russian Code of Administrative Offences. In addition, a number of significant draft laws are currently being reviewed by the State Duma, including regulations governing the legal status of audiovisual services (online film streaming sites), aimed at safeguarding information security in Russia, and amendments to procurement legislation.

Alexander Sitnikov, Managing partner
Business of Russia
24
March
2016

Overview of changes in legislation during October-December 2015

In this review of legislation, we will tell you about the key changes in the “fourth antimonopoly package”, which entered into force on 5 January 2016, and which will largely contribute to the liberalization of antimonopoly regulations, and are intended to focus the work of the antimonopoly authorities on violations that really affect the state of competition. The newly adopted law, which aims to strengthen the payment discipline of energy consumers, and increasing responsibility in case of violations of the set energy consumption limits; It provides for “an irrevocable bank guarantee" as a mechanism for fulfilment of obligations on payment of the cost of energy consumed; stricter administrative responsibility for cases of unauthorized connection to electric, heat, oil and gas networks. Federal Law dated 30.12.2015 No. 459-FZ specifies requirements for cultural heritage objects, ensuring the safety and permanence of historic buildings within their historic settlements. The Russian Government introduced a bill aimed at improving the security of participants in shared construction projects, and transparency for activities of developers.

Alexander Sitnikov, Managing partner
Business of Russia

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