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FAS of Russia cancels notification control for certain transactions

March 2013 - Corporate & Commercial. Legal Developments by Capital Legal Services.

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On March 12, 2013 the State Duma of Russia approved in the first reading the draft law canceling notification control of the FAS of Russia (Federal Antitrust Service) with respect to a range of transactions involving economic concentration.

In particular, amendments to the Federal Law "On protection of competition" cancel notification control for transactions related to creation of a commercial entity as a result of a merger among commercial entities and consolidating with a commercial entity one or several other commercial entities, provided the aggregated asset value or the aggregated sales revenue of the entities for the calendar year preceding the consolidation year exceeds 400 million rubles (appr. EUR 10 mln) according to the latest balance sheets.

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About the author

Irina Akimova holds the position of Associate practicing antitrust law at Capital Legal Services. She focuses on aspects of applying antitrust law on trade and financial markets.

Irina worked at the Federal Antitrust Service of Russia for 8 years. During last two years she headed the division for the insurance market at the Department for Control over Financial Markets at the FAS of Russia. While working at the FAS of Russia, Irina participated in elaborating opinions on draft federal laws and other legislative acts, examining motions and notifications as part of the state control over economical concentration, initiating and examining cases on violations of the antitrust law. Irina also elaborated a number of proposals on developing competition on financial markets.

She is a member of non-commercial partnership Competition Support Association. She graduated from the Moscow Psychology and Sociology University with the degree in law.

About Capital Legal Services

Capital Legal Services, one of the leading Russian full-service law firms, has been well known on the legal services market since 1999. The offices of Capital Legal Services are located in Moscow and St. Petersburg.

The areas of specialization of the firm's attorneys include antitrust law, corporate law, real estate and construction, project financing and public-private partnership, business aviation, litigation and alternative dispute resolution, labor law and intellectual property. The attorneys have unique experience of working and cooperating with authorities and local administrations in Moscow and St. Petersburg, as well as in various Russian regions.

 

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