New rules for entering into transactions in Russia
Starting from January 01, 2017 the procedure for concluding
major and interested party transactions in joint-stock companies
and limited liability companies has changed substantially. These
changes have been introduced by the Federal Law No.343-FZ dated
July 03, 2016. It should be noted that transactions involving
limited liability companies and joint-stock companies are regulated
in a slightly different manner. Please find below the general
overview of the key changes.
Major transactions
A transaction is considered a 'major transaction' of a
company if it is outside the scope of its normal economic
activities. In determining whether a particular transaction can be
characterized in this way, it is not determinative that similar
transactions have previously been carried out by the relevant
company. A number of transactions that may otherwise be considered
major transactions are specifically excluded from the
