AO UniCredit Bank
Tue, 03/01/2017
Amendments to the Law on Joint Stock Companies will clarify the list of interested party transactions exempted from approval
Starting from 1 January 2017, amendments to the Federal Law on Joint Stock Companies will come into force and will clarify which interested party transactions will not be subject to approval.
The Central Bank of Russia (CBR) has defined the transaction size limits, below which such transactions will not be considered to be interested party transactions, namely:
- transactions with property of not more than 0.1% of the face value of the assets on the last reporting date
- the amounts of such transactions shall additionally not exceed the limit values, established by CBR as follows:
- for companies with face value of its assets of less than RUB 25 billion, the limit value is set at RUB 20 million
- for companies with face value of its assets between RUB 25 billion and 100 billion, the limit value will be RUB 50 million
- for companies with face value of its assets of above RUB 100 billion, the limit value amounts to RUB 100 million
Yuliya Shibukova
Relationship Manager
GSS Russia
yuliya.shibukova@unicredit.ru