OREANDA-NEWS. January 22, 2013. The Ministry of Justice of the Russian Federation registered No.436 Order of the Federal Antimonopoly Service (FAS Russia) “On Approving the Administrative Regulations of the Federal Antimonopoly Service for Executing the State Function for Verifying Fulfillment by a Foreign Investor or a Legal or Physical Person Included in a Group of Persons of the Obligations Undertaken in Accordance with Article 12 of No.57-FZ Federal Law “On the Procedures for Foreign investments in the Economic Entities of Strategic Importance for National Defence and State Security” of 29th April 2008” passed on 28th June 2012, reported the press-centre of FAS Russia.

The Regulations are designed to regularize the administrative procedures for the authorized body verifying fulfillment of obligations by a foreign investor, undertaken in accordance with Article 12 No.57-FZ Federal Law, as well as for adopting measures to eliminate the consequences of the violations exposed through such verifications under Article 15 No.57-FZ Federal Law.

“The Government Commission for control over foreign investments can make a decision on approving a particular transaction with participation of a foreign investor provided the investor fulfills certain obligations formalized in an agreement with FAS Russia. In 2012 we concluded seven such agreements.

Obviously, FAS as the authorized body must have a possibility to verify fulfillment of obligations and if necessary apply statutory sanctions”, stated Deputy Head of FAS Andrey Tsyganov.

No.436 FAS Order of 28th June 2012 was published in No.301 issue of “Rossiiskaya Gazeta” newspaper of 28th December 2012 and came into force.

The FAS Order is registered by the Ministry of Justice on 21st December 2012 (Registration No. 26265).

Article 12 of No.57-FZ Federal Law regulated the procedures for the Commission making decisions on preliminary approval of transactions or agreeing upon establishing control when there is an agreement with the petitioner enforcement of particular obligations and the decision is formalized by the authorized body.

Article 15 of No.57-FZ Federal Law indicates legal consequences of failure to comply with No.57-FZ Federal Law.