Russia’s State Duma adopts bill on regulatory sandbox
MOSCOW, July 22 (RAPSI) – The lower house of Russia’s Parliament has approved in the third and final reading a bill envisaging the possibility of introduction of experimental legal regimes, the so-called regulatory sandboxes in the digital innovations sphere.
The essence of such regimes, according to a statement of the State Duma, is the removal of a number of legal restrictions so as to aid those engaged in development and application of digital innovations to try these regimes in their practices and decide if and to what extent the new regimes are useful.
Originally, it has been envisaged that the new law is to be applied in medicine, pharma industries, transport, including unmanned vehicles, e-education, online education techniques, financial market, e-trade, industry, construction, state and municipal services. However, by the time of the second reading of the bill it was decided not to limit the spheres, where the new regulations were to be introduced.
State authorities and local governments, as well as corporations or self-employed entrepreneurs intending to meet respective requirements are to have the right to initiate the introduction of such a regime, the document reads.
According to the bill, experimental legal frameworks are allowed to be introduced if the following conditions are fully met:
General regulations concerning relations in the sphere of digital innovations contain requirements, rules, prohibitions, restrictions preventing of making significantly more difficult to introduce digital innovations;
There are in place technological capabilities permitting to use digital innovations immediately, or after certain technical, technological, organizational, or other preparations;
Experimental legal regime is to achieve the goals it was established for;
Initiative on the introduction of an experimental legal framework contains meaningful assessment of risks associated with the regulations it puts into effect.
The duration of experimental legal regimes is to be limited to three years; however, it may be prolonged, if necessary.
The new law is to be put into effect 180 days after the date it is officially published.