Russia's Civil Code reshuffle meets business interests
GELENDZHIK, June 27 - RAPSI. Public and business community's opinions were thoroughly analyzed and taken into consideration while preparing the restated Civil Code for the second reading in parliament, lawmaker Alexander Remezkov said.
Specifically, restrictions on taking part in corporate voting have been lifted and contesting resolutions adopted by shareholders' meetings on the grounds of “violation of participant equality” or “non-free voting” banned.
On April 27, the State Duma adopted in the first reading blanket amendments to the Civil Code proposed by the president, which are designed to improve economic well-being in the country.
The amendments concern civil law fundamentals.
On Monday, the committee passed a resolution on the first part of the amendments and suggested endorsing 150 and turning down 350. More than 2,000 amendments were put forward.
The committee's head Pavel Krasheninnikov said the draft law will be reviewed in the second reading no earlier than in the fall and will be adopted in February or March.
He added that the restated Civil Code “will have a variety of new instruments for developers, a new model of business relations and improve the investment climate in general.”