Restrictions and measures of state support for business: the digest for 28 October – 10 November 2024

DRAFT LAWS

The number of specific features of corporate management in subsidiaries of economically significant companies may grow

The draft federal law

Public discussions are now taking place.

It has been proposed to add to Federal Law No. 470-FZ dated 4 August 2023 “On the specifics of regulating corporate relationships within business entities that are classified as economically significant companies” article 12.2 on regulating the interaction of a foreign holding company (FHC) and a significant subsidiary of an economically significant company.

In particular, it has been specified that:

• a significant subsidiary is understood to be a Russian company that independently meets the criteria of an economically significant company (see articles 2(1)(1) and 2(1)(2) of Law No. 470-FZ);
• indirect members of a subsidiary of an economically significant company, its single-member executive body or a member of the board of directors / supervisory board, or an authorised federal executive authority, may, with recourse to a court, suspend the corporate rights of a FHC with respect to its subsidiary if the rights of the same FHC have been suspended with respect to the economically significant company.
• indirect members of a subsidiary of an economically significant company may state that they receive dividends directly from the economically significant company circumventing the FHC (conditions apply).
  
  

Some anti-crisis measures may be extended

The Russian Government’s draft decree

Public discussions are now taking place.

It has been proposed to adjust special aspects of permission-based activity in Russia (see the Russian Government’s Decree No. 353 dated 12 March 2022). For instance, it has been proposed to extend for 2025 the right of dedicated federal executive authorities to issue anti-crisis decisions with respect to individual permission-based regimes, as well as types of activities that are subject to licensing (paragraph 4 of Resolution No. 353).

LEGISLATION

The list of goods for parallel import has been updated

The Russian Ministry of Industry and Trade’s Order No. 4611 dated 8 October 2024

Comes into effect on 8 May 2025.

The list of goods has been updated that are permitted for parallel import (Order No. 2701 of the Russian Ministry of Industry and Trade dated 21 July 2023). The amendments affected the following items, among other: spare parts for cars; ferrous metal products; telephones; monitors and projectors.