Russian business law: the essentials. Отсутствует

Lomonosov Moscow State University, PhD candidate, LL. B. 2012.

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Doctor of Legal Sciences, Acting Deputy Director of ILCL, Head of the ILCL Civil Legislation and Process Department.

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From 1921 to 1991.

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Article 10, 11 of the USSR Constitution of 1977.

8

The Putin Curve, Wall St. J. Online, Nov. 26, 2002, http://www.wsj.com/articles/SB1038271514450758308.

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Russia is among the seven largest economies in the world (РФ вошла в «семёрку» крупнейших экономик мира), VZGLYAD (ВЗГЛЯД), Feb. 8, 2008, http://vz.ru/news/2008/2/8/143489.html.

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World Bank Believed In Russia (Всемирный банк поверил в Россию), RBK (РБК), March 24, 2010, http://top.rbc.ru/economics/24/03/2010/383833.shtml.

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Net capital outflow from Russia in 2014 amounted to $151.5 billion (Чистый отток капитала из России в 2014 году составил $151,5 млрд.), RBK(РБК), Jan. 16, 2015, http://top.rbc.ru/finances/16/01/2015/54b96c5e9a7947490508d8d2.

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"On Measures on Further Development of Legal Science and Improvement of Legal Education in the Country."

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Eu. P. Gubin, P. G. Lakhno, I. V. Savelyeva were also members of the department.

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See, for example, I. V. Ershova, G. D. Otnykova, Russian Business Law, 2011.

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Lomonosov Moscow State University, PhD candidate, LL. B. 2014.

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Please see below for a more detailed on the correlation between federal and regional acts.

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Legal Directory Systems "Consultant Plus" and «Garant» may be used for searching for the texts in Russian of the legal acts of the Russian Federation. The database of these systems is available on the official websites as well: http://www.consultant.ru/online/ and http://www.garant.ru/.

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Besides Russia, as of today it also includes Belarus, Kazakhsatan, Armenia and Kyrgyzstan.

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By the way, some legal acts of the USSR are still in force in Russia today (to the extent to which they do not contradict to the active Russian legislation).

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In Russia, there is no uniform approach on how to name the components of the articles of legal acts. Usually the largest components of the articles are called “clauses, sections, or parts.” Thus in the CC of the RF and the Tax Code of the RF, larger components are called "sections," (each «section» corresponds to one federal law, which in total forms these codes).

Sections/parts or clauses of the articles of legal acts can be divided into sub-clauses and paragraphs. Meanwhile, the parts of the articles can also be divided into clauses (that is, both the whole article and the «part» of the article can also be divided into "clauses"). Additionally, many secondary legal acts are divided into clauses, and articles therein are missing.

In order to define how the concrete element of the article is correctly named, it is necessary to find (in the same legal act), references to an element of an article of the same level (see, for example, Clause 2 of Article 3 of the CC of the RF).

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Additionally, this type of an act of the President of Russia as an assignment/order has recently been widely adopted. The orders of the President do not contain norms obligatory for legal entities and citizens. These documents contain provisions obligatory for subordinate governmental authorities reflecting, as a rule, the most accurate directions of the development of the legislation and the state policy in general. An understanding of some orders of the President of Russia can be useful for entrepreneurs.

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The Supreme Court of Arbitration of the RF, which previously headed the system of arbitration courts, became part of the Supreme Court of the RF. For details, please, see Chapter on Litigation, Arbitration and Other Means of Legal Protection.

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The Plenum of the Supreme Court of the RF is a part of the Supreme Court of the RF.

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Lomonosov Moscow State University, PhD candidate, LL. B. 2014.

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See Section 3.3 of the present chapter for the classification of legal entities.

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See section 5.2 for more information about state corporations and state companies.

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See section 1.B.b of the present chapter for the right of a non-profit organization to generate profit from its activities.

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Commercial organization can be created for certain purposes which are listed in its charter. In such an event, it will have a limited legal capacity.

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State and municipal unitary enterprises are given an exception to this rule.

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As mentioned above, the CC of the RF does not contain any indication to which type of enterprises the advocates formations being legal entities, shall be referred to.

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The FTS of Russia No. 46 of the city of Moscow is located at the address: 125373, Moscow, Walking Passage, household 3, building 2.

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Economic companies have charter capital, and economic partnerships have share capital. Everything written in the present chapter on charter capital applies to the joint capital as well.

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It is possible to receive information on legal entity from official source on the site of the FTS of Russia at: http://egrul.nalog.ru/

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For example, a public JSC, is obliged to disclose the annual report, annual financial statements, announcement of the shareholders’ general meeting, and other information. A non-public JSC is obliged to do so only if the number of its participant exceeds 50. Furthermore, shareholders of a non-public JSC may have the privilege of stock acquisition, as well as have the ability (if it is provided by a charter) to prohibit the alienation of the stock to a third party. Public JSC shareholders may not have such rights. There are also other differences between public and non-public JSCs.

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A corporate contract concluded by LLC participants is called "a contract on the implementation of the shareholders’ rights". A similar contract signed by JSC shareholders is called "a joint stock agreement".

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For more information about the minimum amount of an LLC Charter Capital, see chapter 4.1.2.1.C.

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See chapter 4.1.2.1.C for the minimum amount of JSC charter capital.

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The general partnership should not be confused with the simple partnership, which is not a legal entity.

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The words «peasant» and «farm» are synonym in this entitlement.

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In this case, both the Russian Federation and its subjects are considered as a state.

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In the section on corporations, we consider advocacy formations that are legal entities.

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Legal analyst, Consultant Plus; Lomonosov Moscow State University, LL. B. 2013.

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See Federal law No. 42-FZ, dated March 8, 2015, “On Amending Part One of the Civil Code of the Russian Federation,” // “ConsultantPlus” Legal Directory System

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See Decision No. 16, dated March 14, 2014, of the Plenum of the Supreme Arbitration Court of the RF, "On the Freedom of Contract and Its Limits," // “ConsultantPlus” Legal Directory System.

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See Informative letter No. 165 of the Presidium of the Supreme Court of Arbitration of the RF, dated February 25, 2014, “On the Overview of the Judicial Practice