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Legislative Updates

New amendments to the Federal Law

21.03.2005 - Federal Law dated March 7, 2005 # 13-FZ ?On amendments to the articles 17 and 18 of Law of RSFSR ?On competition and on the restriction of the domination on the merchandise market?

Adopted by the State Duma on the 16th of February, 2005 Approved by the Federation Council on the 25th of February 2005

The amendments provide for the vast increase of the threshold assets value as set forth by the article 17 and 18 of the Law.

In accordance with the introduced amendments, mergers of the commercial legal entities, which have the net book value of the assets exceeding 30 million MROT (previously 2000 thousand MROT), shall be effected after the prior approval of the antimonopoly body.

Where in case of a merger the net book value of the assets exceeds 2 million MROT (previously- 200 thousand and 100 thousand respectively), the founders (members) shall notify the antimonopoly body on the setting-up of the commercial legal entities and also in case of its mergers within 45 days from the date of the state registration.

The prior approval of the antimonopoly body shall be obtained at the shares acquisition of the commercial legal entity?s authorized capital, in case where the net book value of the assets in accordance with the last balance sheet of the purchaser(s) exceeds 30 million (previously 200 thousand) MROT. Where the net book value of the assets exceeds 2 million (previously 100 thousand) MROT, the antimonopoly body shall be also notified hereon.

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