Anti-raider amendments to the Russian Criminal and Criminal Procedure Codes.

20.07.2010

Legal Update No. 158.

Goltsblat BLP advises that Federal Law No. 147-FZ of 1 July 2010 “On Amendments to the Criminal Code of the Russian Federation and Article 151 of the Code of Criminal Procedure of the Russian Federation” came into effect on 5 July 2010.

The Federal Law introduced so-called anti-raider amendments into the Russian Criminal and Criminal Procedure Codes.

The Criminal Code now covers the following newly added crimes:

  • article 170.1 on forgery of registers of legal entities or securities owners or a depositary accounting system criminalises submission, for registration or for other purposes, of documents containing deliberately false information about the founders of (participants in) a legal entity, the size and par value of ownership interests in the authorised capital, holders, quantity, par value and class of registered securities, charges on ownership interests and securities and the head of the legal entity with a view to taking control of another person’s property. Deliberate introduction of inaccurate information by obtaining unlawful access to the registers is also punishable. The sanctions envisaged for these offences range from a fine to 7 years’ imprisonment;
  • paragraph 3 of article 185.2 introduces liability for inclusion of inaccurate information in the register of securities owners, deliberate destruction of or tampering with documents subject to mandatory safekeeping that constituted the grounds for making or amending an entry. The sanctions range from a fine to 2 years’ imprisonment;
  • article 185.5 pertains to forgery of resolutions by an entity’s General Meeting or Board Meeting by means of deliberate misrepresentation of voting results or prevention of free exercise of the right of decision using various actions (including coercion). The sanctions range from a fine to 5 years’ imprisonment;
  • article 285.3 discusses intentional introduction by a state official of what is known to be false data into unified state registers and deliberate destruction of or tampering with documents subject to mandatory safekeeping that constituted the grounds for making or amending an entry. The sanctions range from a fine to 6 years’ imprisonment.

According to the amendments introduced into part two of article 151 of the Russian Code of Criminal Procedure, preliminary investigations into criminal cases on offences covered by the above articles are to be conducted by investigators of the Investigative Committee of the Russian prosecuting authorities.

For additional information, please contact:

Anton Sitnikov, Partner,
Head of Corporate/M&A Goltsblat BLP;
T: +7 (495) 287 44 44,
E: info@gblplaw.com.

Anton Rogoza, Partner,
Corporate/M&A
Goltsblat BLP;
T: +7 (495) 287 44 44,
E: info@gblplaw.com.

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