MOSCOW, December 28 - RAPSI. Head of the Presidential Council for Civil Society and Human Rights Mikhail Fedotov has delivered to President Dmitry Medvedev a report on the implementation of legislative amendments intended to combat corporate raids, Fedotov told the Russian Legal Information Agency (RAPSI/rapsinews.ru) on Wednesday.
In July 2010 Medvedev approved amendments to criminal laws toughening punishment for corporate raiding. The amendments have introduced criminal responsibility for such raid-related actions as takeover of property, property and non-property rights, and corporate funds.
Entering false data into the shareholders register, willful documents destruction or forgery will also be punishable under criminal law.
Submission of fake documents to executive authorities, intentional misrepresentation of a shareholders' meeting voting results will entail criminal liability as well. The amendments are to make corporate raiders accountable at the initial stage and prevent consequences because the property is hard to return from end purchasers protected by their good faith status.