LEASING COMPANIES TRANSACTIONS WITH MORE THAN 8 BILLION RUB ASSETS WILL BE COORDINATED WITH FAS

26-10-2021 | 10:48

It will allow the authority to monitor economic concentration in the relevant markets

The Government of the Russian Federation has set a threshold value for transactions with leasing companies that require approval from the antimonopoly authority.* Since March 1, 2022 such transactions will be coordinated with the FAS Russia in cases when the assets of leasing companies exceed 8 billion rubles. We are talking about transactions provided for in the Articles 27 and 29 of the Law on Protection of Competition, including mergers and acquisitions of commercial and financial organizations.

It is necessary for the antimonopoly authority to control over the economic concentration in the leasing services market. The adoption of the document, among other things, will prevent the monopolization of the market.

Earlier, purchasers were required to coordinate transactions with the FAS Russia if the value of assets was more than 3 billion rubles. After the "regulatory guillotine"**, there was a need to revise the threshold for approving transactions.

Before setting a threshold of 8 billion rubles, the FAS Russia analyzed the situation on the leasing services market and found out that the measure would not have a negative impact on competition in the relevant market.

 

For reference:

* Decree of the Government of the Russian Federation of  27.09.2021 No. 1621 "On Establishing the Values of Assets of Leasing Companies for the Purpose of Antitrust Control".

** "Regulatory Guillotine" is a tool for large-scale revision and cancellation of regulatory legal acts that negatively affect the overall business climate and regulatory environment.



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