The new rules for obtaining clearance for share transactions with foreign parties connected with "unfriendly" countries
The new minutes of the meeting of the Governmental Sub-Commission No. 171/5 was published on 12 July 2023 establishing new rules for obtaining clearance for transactions with shares (participatory interests) in Russian companies if carried out with a party to such a transaction that is deemed as “unfriendly” person.
The BIRCH LEGAL experts talk about the new rules to be enforced as well as the old rules that are still in effect.Open PDF
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On 17 January 2023, the President signed Decree No. 16 “On an interim procedure for the governing bodies of certain Russian companies to adopt resolutions.”
On 30 December 2022, Sub-Commission of the Government Commission on control of foreign investments in Russia established new rules for clearances.
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On 29 November 2022 as a follow-up to amendments introduced in July of 2022 to the Federal Law “On Personal Data”, Roskomnadzor published clarifications.
On 19 September 2022, following the directive given by Presidential Decree No. 618, the Government of the Russian Federation adopted amendments to the Resolution of 6 March 2022 No. 295.