FAS representatives explained the key aspects of control over foreign investments

Experts described in detail the practice and specifics of the investment law at a workshop held by a branch of FAS Centre for Education and Methodics (Moscow)

Deputy Head of FAS Department for Control over Foreign Investments, Natalia Yelnikova, described in detail legal relations regulated by No. 57-FZ Federal Law “On the Procedure for Investment in Economic Entities of Strategic Importance for National Defence and State Security” of 29 April 2008, and some insights into the concepts of the law, and systemic interpretation of the main provisions. The points made by Ms. Yelnikova caused lot of questions from the audience, and the examples from FAS practices formed the basis for a discussion involving other FAS staff, and participating lawyers and consultants. Overall, it was mentioned that foreign investors do pursue bona fide conduct and tend to observe the existing restrictions and procedures.

The workshop analyzed precedent cases under the frame of control over foreign investments, and specific cases of applying No. 57-FZ Federal Law in such sectors as aviation, metallurgy, and subsoil use. Preliminary transaction approvals and the procedure of considering petitions filed by foreign investors were also covered. At the end of the workshop there was a general discussion on the best practices and recommendations in terms of control over foreign investments.

Natalia Yelnikova pointed out: “Opinions and comments of shareholders, top executives and specialists of foreign companies, and everybody related to the enforcement practices of the law, are important for FAS, in order to form the necessary basis to improve the law on foreign investments”.