Source: https://www.scribd.com/document/27666858/57-FZ-Amendments
Timestamp: 2017-03-28 20:08:47
Document Index: 107252875

Matched Legal Cases: ['art 6', 'art 4', 'art 1', 'art 1', 'art 1', 'art 2', 'art 2', 'art 3', 'art 2', 'art 3', 'art 1', 'art 1', 'art 4', 'art 2', 'art 2', 'art 3', 'art 5', 'art 4', 'art 1', 'art 1', 'art 3', 'art 1', 'art 1', 'art 6', 'art 2', 'art 5', 'art 4', 'art 5', 'art 5', 'art 6', 'Art. 2', 'Art. 2']

57 FZ Amendments | Investor
BrowseInterestsStay InformedCareerPersonal GrowthFiction & BiographiesHealth & FitnessLifestyleCultureBrowse byBooksAudiobooksNews & MagazinesSheet MusicBrowse allUploadSign inJoinIntroduced by the Government of the Russian Federation DRAFT RUSSIAN FEDERATION FEDERAL LAW “On Amendments to the FederalLaw “On Foreign Investment in Business Entities Possessing Strategic Significance for National Defense and State Security” Article 1. The Federal Law of April 29, 2008 No. 57-FZ “On Foreign Investment in Business Entities Possessing Strategic Significance for National Defense and State Security” (Collected Laws of the Russian Federation, 2008, No. 18, pg. 1940) is amended as follows: 1) in Article 2: Part 6, after the words “international treaties,” add the words “or in the event of a decision by the Government of the Russian Federation on the establishment (of the acquisition of shares (stock) in a company),”; 2) in Article 4: In part 4 replace the words “or a group of persons with direct or indirect control” with the words “which intend to make a deal, directly [resulting in] control”; 3) in Article 6: In paragraphs 12 and 13 of Part 1 after the words “(cryptological) resources” add the words “, with the exception of the implementation of this activity by banks”; In paragraph 14 of Part 1 after the words “encryption of information” add the words “,with the exception of the implementation of this activity by banks”; 4) in Article 7: To paragraph 3 of Part 1 add the words “, with the exception of transactions to increase the authorized capital, the result of which does not increase the voting shares of the capital managed by a foreign investor;”; 5) in Article 8:
Paragraph 1 of Part 2 shall read as follows: “1) a statement of preliminary approval of the transaction, addressed to the Authorized Body [FAS] and drawn on a form approved by the Authorized Body;” Paragraph 6 of Part 2 shall read as follows: “6) The draft contract(s) or other agreement(s), revealing the contents of the transaction; Part 3 shall read as follows: “3. The structure of the application on the agreement for establishing control should include a statement on the agreement for establishing control, addressed to the Authorized Body and drawn in a form approved by the Authorized Body, and should also include the documents referenced in paragraphs 2 – 5, 7 – 9, and 11 of Part 2 of this article.”; 6) in Article 9: In Part 3, substitute the words “paragraph 5 of Part 1 of Article 7” with the words “paragraph 3 or 5 of Part 1 of Article 7”; Part 4 shall read as follows: “4. If upon considering an application, the Authorized Body finds that, in accordance with Part 2 of Article 2 of this Federal Law, the applicant is not entitled to conduct the transaction, which would entail the establishing of control over a business entity of strategic significance, or finds that the applicant made false representations regarding information on items 1 – 9 and 11 of Part 2 of Article 8 of this Federal Law, the Authorized Body shall, within three working days after the determination of these facts, decide on the return of the application to the applicant with the reasons for the decision and forward a copy of the decision to the Commission.”; 7) in Article 10: Part 3 should read as follows: “3. A period of not more than forty days from the receipt of a request from the Authorized Body, a federal body of executive authority in the field of security shall send the Authorized Body a conclusion on the threat to national defense and state security as a result of the relevant transaction, or as a result of establishing control in accordance with Part 5 of Article 7 of the present Federal Law.”; 8) in Article 11:
Part 4, after the words “from the day of registering the application with the Authorized Body” add the words “, and in the case stipulated by Paragraph 2 of Part 1 of Article 9 of this Federal Law, the date of submission of documents as requested by the Authorized Body”; 9) in Article 12: In paragraph 2 of Part 1, after the words “under state defense order,” add the words “and (or) other state requirements for pre-contract”; Part 3 should read: “3. In the case stipulated by Part 1 of this Article, prior to the preliminary approval of the transaction or agreement establishing control, the Commission shall determine the list of obligations incumbent upon the applicant and shall notify the Authorized Body, which is preparing an agreement with the applicant on the enforcement of these obligations. In this case, an agreement with the applicant on the enforcement of these obligations shall be signed by the Authorized Body and the applicant, whereby the applicant undertakes to ensure compliance with these obligations, and which defines the conditions for compliance with the obligations by the applicant, and the responsibility of the applicant for violating the obligations under the present Federal Law. This agreement shall be carried out in a period of not more than thirty days from the date of notification by the Commission to the Authorized Body on these commitments. A foreign investor or group of legal or natural persons has the right to send to the Authorized Body a request to extend the term of such an agreement, but not more than 14 days. Conclusion of an agreement must precede the decision on preliminary approval of the transaction or on approval of the establishment of control. The model form of such an agreement specifying a list of its essential terms and conditions shall be established by the Authorized Body. An agreement or refusal to assume all or part of these obligations must be signed by the applicant and Authorized Body, and sent to the Commission.”; 10) in Article 13 Part 1 shall read as follows: “1. The Authorized Body has the right: − to seek documents, explanations in written and oral form, information – including commercial, administrative, and other legally protected secrets – necessary to the Authorized Body for the implementation of its functions in the manner prescribed by federal legislation; − to provide an explanation on the procedures for the preliminary approval of transactions, on approvals for the establishment of control, on the submission and review of applications and notices, and in situations specified by Part 6 of Article 8 of this Federal Law;
− to provide in the prescribed manner a conclusion on the presence or absence of control by a foreign investor over a business entity of strategic significance; − to prosecute, in the prescribed manner, individuals and legal entities for violating the requirements of this Federal Law; − to compile and analyze the practice of the present Federal Law; − to apply to a court with a statement of claim, including in situations provided for in Article 15 of this Federal Law”; 11) in Article 15: Part 2 shall read as follows: “2. The court shall determine the consequences of a void transaction in accordance with the civil law. The court shall issue a decision depriving a foreign investor of the right to vote at the general meeting of shareholders (participants) of a business entity of strategic significance in the following situations: (i) if a transaction, which results in a foreign investor establishing control over a business entity of strategic significance, is completed without meeting the requirements of this Federal Law and it is impossible to void the transaction; or (ii) in cases where a foreign investor has not submitted an application on the establishment of control within the prescribed time period in accordance with Part 5 of Article 7 of this Federal Law. In the case that a foreign investor is deprived of the right to vote at the general meeting of shareholders (participants) of a business entity of strategic importance, and the votes of the foreign investor shall not be counted in the determination of a quorum or the tallying of votes at such a general meeting.”; Part 4 shall read as follows: “4. The failure of a foreign investor to comply with the obligations assumed in accordance with Article 12 of this Federal Law, upon the application of the Authorized Body in court, shall entail the deprivation of the foreign investor of the right to vote at a general meeting of shareholders (participants) of a business entity of strategic significance, and the votes belonging to the foreign investor will not be counted in the determination of a quorum or the tallying of votes at such a general meeting.”; Part 5 shall read as follows: “5. If a foreign investor, which has established control over a business entity of strategic significance in accordance with Part 5 of Article 7 of this Federal Law, receives a denial from the Authorized Body on the establishment of control, it must dispose of its shares within three months of receiving the denial from the Authorized Body, so that their remaining shares (stock) of such a business entity does not provide the foreign investor control over the business entity. The failure of a foreign investor to comply with this requirement, upon the application of the Authorized Body in court, shall entail the deprivation of the foreign investor of the right to vote at a general meeting of shareholders (participants) of a business entity of strategic significance, and the votes belonging to the foreign investor will not be counted in the determination of a quorum or the tallying of votes at such a general meeting.”;
Complete Part 6 as follows: “6. Violation of this Federal Law by legal or physical persons shall entail liability in accordance with the laws of the Russian Federation.” Article 2. This Federal Law shall enter into force 30 days after its official publication. President Russian Federation
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