Senators are considering a bill on a new procedure for managing external business

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The State Duma adopted in the first reading a bill on
the management procedure in foreign companies, where the share of foreign
business is more than 25 percent. It is permissible to introduce external
management only in companies that intend to leave the Russian market.

External administration can be introduced only in
socially significant companies that

• Produce socially significant goods

• Market monopolists

• Companies in single-industry towns

The branch office can initiate the introduction of an
external administration, transfer the project to the Ministry of Economic
Development, which in turn begins the process in the arbitration court. During
the process, an external manager is appointed.

There are two ways to introduce external
administration: by transferring the powers of the director or by selling
shares.

The State Duma emphasizes that the external
administration will be introduced exclusively by a court decision.

For the introduction of external management, the criteria
will be developed by the second reading. The issue of the possibility of
external management in companies with state participation also remains
debatable.



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