of December 30, 1995 No. 225-FZ
About production sharing agreements
Accepted by the State Duma on December 6, 1995
Approved by the Federation Council on December 19, 1995
This Federal Law adopted in development of the legislation of the Russian Federation in the field of subsurface use and investing activities establishes the legal basis of the relations arising in the course of implementation of the Russian and foreign investments in searches, exploration and production of mineral raw materials in the territory of the Russian Federation and also on the continental shelf and (or) within exclusive economic zone of the Russian Federation on the terms of production sharing agreements.
1. This Federal Law governs the relations arising in the course of the conclusion, execution and the termination of production sharing agreements and determines the main legal conditions of such agreements.
2. The relations which are not settled by this Federal Law, including arising in the course of use of the earth and other natural resources and also features of application of this Federal Law taking into account restrictions or prohibitions on the property right to the extracted precious metals, natural gemstones, radioactive raw materials and other metals and products are regulated by the legislation of the Russian Federation on subsoil, other laws and other regulatory legal acts of the Russian Federation.
3. The relations arising in the course of searches, exploration and production of mineral raw materials, the Section of the made products, and also its transportation, processing, storage, conversion, use, realization or the order otherwise are regulated by the production sharing agreement signed according to this Federal Law.
The rights and obligations of the Parties of the production sharing agreement having civil nature are determined according to this Federal Law and the civil legislation of the Russian Federation.
4. If legal acts of the Russian Federation determine other rules, than those which are provided by this Federal Law, in the sphere of regulation of the relations specified in Item 1 of this Article rules of this Federal Law are applied.
1. The production sharing agreement (further - the agreement) is the agreement according to which the Russian Federation provides to the subject of business activity (further - the investor) on paid basis and for certain term exclusive rights on searches, investigation, production of mineral raw materials on the subsoil plot specified in the agreement and on conducting the works connected with it, and the investor shall perform carrying out the specified works at own expense and on the risk. The agreement determines all necessary conditions connected with use of natural resources including conditions and procedure for the Section of the made products between agreement parties according to provisions of this Federal Law.
2. The conditions of use of natural resources established in the agreement shall correspond to the legislation of the Russian Federation.
Right to use by the subsoil plot can be limited, suspended or stopped under the terms of the agreement signed in accordance with the legislation of the Russian Federation.
3. Lists of subsoil plots, right to use by which on the terms of the Section of products it can be granted according to provisions of this Federal Law are established by the Federal Laws.
Drafts of the specified Federal Laws, and also drafts of the Federal Laws on modification and amendments in the specified Federal Laws are introduced in the State Duma of Federal Assembly of the Russian Federation by persons of law of the legislative initiative and are considered by the State Duma of Federal Assembly of the Russian Federation in the presence of the conclusions of the Government of the Russian Federation and decisions of legislative (representative) bodies of subjects of the Russian Federation in which territories the respective subsoil plots are located.
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