Windfall tax for major companies to be introduced in Russia

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Monitoring of the Federal Legislation dated 23.03.2006

Decision of the Government of the Russian Federation No. 151 of March 20, 2006 on the Licensing of Activities of Successors of Joint-Stock Companies of Power Supplies and Electrification and Other Subjects of Natural Monopolies in the Electric Power Industry

Successors created in the course of reorganisation of the Russian open-type joint stock company of power supplies and electrification Joint Power Supply System of Russia, its branches and dependent joint-stock companies, as well as other subjects of natural monopolies in electric power industry in the form of incorporation, separation or isolation shall enjoy the right of carrying out the licensed types of activities on the basis of the earlier issued licenses to the reorganised legal entities. The given right is granted not more than for six months from the day of the state registration of the newly emerging legal entities.

The Decision defines the procedure and time limits of the notification of the licensing bodies of the reorganisation and emerged right of succession.

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