Rus News Journal

Agreement GKAP and the Russian Federal Property Fund

Mutually advantageous cooperation

past week the Antimonopoly committee has directed instructions to the territorial agencies, ordering to enter into agreements with regional branches of the Russian fund of federal property, taking for a basis agreement GKAP and the Russian Federal Property Fund, signed two months ago. The first results of realisation of the agreement About an order of interaction of the Russian fund of federal property and the State committee of the Russian Federation on an antimonopoly policy and support of new economic structures in the course of privatisation have caused satisfaction of both departments. Vice-president GKAP Vadim Belov has noticed that good working contact, especially in sphere of operative information interchange is come into.

After entering in the middle of last year additions and changes in the law About a competition and restriction of monopolistically activity in the commodity markets antimonopoly law observance at carrying out of large transactions on state ownership privatisation began to deliver essential inconveniences as to sellers, and buyers of this property. The law ordered to the potential buyer (in that case if it occupies more than 35 % of the market of the certain goods or balance cost of its property exceeds 100 thousand minimum salaries) to obtain preliminary permit GKAP to participation in competition or auction. However, only in the event that it was intends to get a package exceeding 20 % from total number of voting actions. The same order extended and on the property acquisition, which cost exceeds 10 % of balance cost of the basic industrial means and non-material actives of sold object. For buyers, balance which cost of property exceeds 50 thousand The minimum salaries, the law provides the coordination of the transaction with Antimonopoly committee within 15 days from the moment of its conclusion.
such order, however, not quite suited antimonopoly bodies as quite often new proprietors did not hasten to inform them on contract signing. In such cases the Antimonopoly committee has been compelled to protest the concluded contracts through court, being got involved in bulky legal proceedings. Did not arrange this mechanism and the seller of the state property, the Russian Federal Property Fund as money and time, necessary on the conclusion of transactions, appeared spent in vain.
however and the preliminary coordination with Antimonopoly committee of privatisation transactions caused numerous complaints from potential buyers. The matter is that antimonopoly bodies quite often had not time to authorise for the month which has been taken away for preparation for participation in competition. Besides, if GKAP did not resolve property purchase, to potential investors does not remain to time for a choice of other scheme of participation in privatisation. To co-ordinate a policy at carrying out of large transactions, and the agreement " has been entered into; About an order of interaction of the Russian fund of federal property and the State committee of the Russian Federation on an antimonopoly policy and support of new economic structures in the course of privatisation .
in this agreement position that GKAP and the Russian Federal Property Fund obligations which are not specified in the operating federal legislation incur is Basic. For example, the Russian Federal Property Fund is obliged to inform independently now Antimonopoly committee on forthcoming sales of the share holdings exceeding 20 % from total number of voting actions, as well as about the property realisation which cost exceeds 10 % of balance cost of the basic industrial means and non-material actives of sold objects. In turn, the Antimonopoly committee should carry out the coordination with winners falling under action of antimonopoly regulation of competitions (auctions) in a prime order - within 20 days from the moment of granting by the applicant of the list of the necessary information established by committee.
except the interdepartmental obligations of the Russian Federal Property Fund established by the agreement should carry out defined to the policy and by preparation for tendering. The report of information placed by the Russian Federal Property Fund about carrying out of competitions (auctions) on the right of acquisition of the property entering into sphere of regulation of the antimonopoly law, should contain requirements about observance of this legislation, including the requirement about the preliminary coordination of the transaction with Antimonopoly committee. At the conclusion of the contract of purchase and sale the Fund of federal property is obliged to include in the contract position about performance by the buyer of the requirements exposed by antimonopoly bodies at delivery of the consent to acquisition of property.
this procedure will simplify process of cancellation of transactions of privatisation at the initiative of antimonopoly bodies. To fund the entered into agreement should provide at least necessary volume of the information (the operative data about inclusion in the register of the subjects having a share in the market more of 35 %), having lowered risk of cancellation of the perfect Russian Federal Property Fund of transactions. And that the agreement does not remain on a paper, awarding of workers of Antimonopoly committee and its territorial administrations from the means received by Fund of federal property from privatisation is provided. And it, despite the minimum percent, very big money for the sake of which it is necessary to be on friendly terms departments.

NATALIA - SAMOILOV