FAS PROTECTED THE COMPANY RIGHTS FOR CATCHING FISH FOR INVESTMENTS PURPOSES

An investor was unlawfully refused participation in allocating quotas for catching aquatic biological resources

FAS received a complaint from “Park” Ltd. about breaching the procedure for selecting investment projects with further formalizing allocation of quotas for catching aquatic biological resources for investment purposes*.

The complaint of the company regarding action of the Commission for selecting investment projects** was considered under the “fast-track” procedure in accord with Article 18.1 of the Federal Law “On Protection of Competition”. The Commission wrongfully decided that the data about company’s investment projects were inaccurate and refused to formalize and grant quotas.

Deputy Head of FAS Rachik Petrosyan concluded: “The compliant of “Park” Ltd.  was found justified. Within 12 days after receiving, the complaint was verified and a decision was made restoring the company’s rights. The grounds, on which the company’s applications were declined, do not fall under the norms of the existing law in this field. The Commission for selecting investment projects was ordered to reconsider the application of “Park” Ltd. in view of the decision made by the antimonopoly body.

Reference:

* In 2016 a new type of quotas was introduced: quotas for harvesting (catching) aquatic biological resources for the investment purposes. The procedure for allocating such quotas is determined by No. 633 and 648 Decrees of the Government of the Russian Federation.

**

The Commission for selecting investment projectsto build fishing vessels at Russian  dockyards, and (or) companies as asset portfolio, under Article 132 of the Civil Code of the Russian Federation, intended to produce fish and other products and built up in Russia.