Notifications No Longer Required for Certain Economic Concentration Transactions in Russia

September 25, 2013

Despite having been amended twenty times to date, Federal Law No. 135-FZ: "On Protection of Competition" dated July 26, 2006 (the "Competition Law"), passed in July 2006 with the aim of effectively regulating monopolistic activity and eliminating unfair competition, still contains a number of excessive administrative barriers that confuse and sometimes unnecessarily burden companies operating in the Russian market. In its continuing effort to clarify and streamline the Competition Law, the State Duma (the lower House of Parliament) is now considering Draft Law No. 199585-6 on "Amending the Federal Law on Competition" (the "Draft Law"), which was introduced at the end of last year and just recently passed its first reading. The Draft Law would ease the burdensome requirement of notifying the anti-monopoly authorities within 45 days following the execution of certain transactions that result in an economic concentration, including M&A transactions.

Read "Notifications No Longer Required for Certain Economic Concentration Transactions in Russia"