ORDER OF THE GOVERNMENT OF THE RUSSIAN FEDERATION

of November 1, 2023 No. 1835

About approval of Rules of determination of the size and payment of compensation of foreign holding company during suspension of implementation by foreign holding company of corporate laws concerning economically significant organization

According to article 7 of the Federal Law "About Features of Regulation of the Corporate Relations in the Economic Societies Which Are Economically Significant Organizations" Government of the Russian Federation decides:

1. Approve the enclosed Rules of determination of the size and payment of compensation of foreign holding company during suspension of implementation by foreign holding company of corporate laws concerning economically significant organization.

2. This resolution becomes effective from the date of its official publication.

Approved by the Order of the Government of the Russian Federation of November 1, 2023 No. 1835

Rules of determination of the size and payment of compensation of foreign holding company during suspension of implementation by foreign holding company of corporate laws concerning economically significant organization

1. These rules provide procedure for determination of the size and payment of compensation of the foreign holding company paid by economically significant organization during suspension of implementation by foreign holding company of corporate laws concerning economically significant organization (further - compensation).

2. The decision on payment of compensation is made by economically significant organization in case of the appeal of foreign holding company to economically significant organization according to part 15 of article 7 of the Federal Law "About Features of Regulation of the Corporate Relations in the Economic Societies Which Are Economically Significant Organizations" (further - the Federal Law).

Compensation on which the decision on its payment is made is paid before the expiration provided by part 2 of article 8 of the Federal Law. If the requirement about payment of compensation is received by economically significant organization later what in 3 months prior to the termination of the term provided by part 2 of article 8 of the Federal Law, compensation is paid to foreign holding company no later than 3 months from the date of receipt of the specified requirement or no later than the term specified in the arbitration court ruling about prolongation of suspension of implementation by foreign holding company of corporate laws concerning economically significant organization in time depending on what term comes later.

3. For the purposes of calculation of the size the number of shares (share in the authorized capital) of economically significant organization which is subject to compensation payment which were not distributed between persons which entered immediate possession by the corresponding shares (shares in the authorized capital) is determined as difference between the number of the shares (share in the authorized capital) of economically significant organization which are belonging to foreign holding company and passed to economically significant organization according to Item 5 of part 1 of article 6 of the Federal Law, and the number of shares (share in the authorized capital) which were distributed between persons which entered immediate possession by the corresponding shares (shares in the authorized capital). Compensation is paid in the amount of share market value (share in the authorized capital) of economically significant organization which were not distributed between persons which entered immediate possession by the corresponding shares (shares in the authorized capital), determined according to the legislation regulating estimative activities in the Russian Federation as of date of the introduction in legal force of the decision of Arbitration Court on suspension of implementation by foreign holding company of corporate laws concerning economically significant organization.

4. Compensation is paid by money with respect for the features established by the President of the Russian Federation according to the Federal Law "About Corrective Actions (Counteraction) on Unfriendly Actions of the United States of America and Other Foreign States".

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info