OREANDA-NEWS. June 20, 2011. The Federal Antimonopoly Service (FAS Russia) fined “NESK-Elektroseti” OJSC (Krasnodar Region) 200,000 Rubles for breaching the procedures for filing petitions on approving transactions.

“NESK-Elektroseti” OJSC is a holder of natural monopoly. Under the Law “On Natural Monopoly” such companies must complete transactions upon a preliminary approval by the antimonopoly authority. It is established that “NESK-Elektroseti” OJSC completed two transactions for leasing fixed assets of “Armavirenergoinvest” OJSC to “NESK-Elektroseti” OJSC without obtaining such approvals.

Article 19.8 of the Code of the Russian Federation on Administrative Violations establishes liability for violating the procedures and deadlines for filing petitions and notifications (statements) established by the law of the Russian Federation on natural monopolies.

The total fine is 200,000 Rubles (100,000 Rubles for each violation).

Reference:
Under Clause 2 Article 7 of the Law on Natural Monopolies, regulators of natural monopolies control:

– any transactions, as a result of which a holder of natural monopoly acquires the right of ownership for fixed assets and the right of using fixed assets that are not intended for production (sale) of goods that are subject to regulation under this Federal Law, if the balance-sheet value of such fixed assets exceeds 10 % of the equity value of a holder of natural monopoly according to the latest approved balance sheet;

– sale, lease or other transactions, as a result of which an economic entity acquires the right of ownership or possession and (or) using a part of fixed assets of a holder of natural monopoly intended for production (sale) of the goods that are subject to regulation under this Federal Law, if the balance-sheet value of such fixed assets exceeds 10 % of the equity value of a holder of natural monopoly according to the latest approved balance sheet.

Under Clause 3 Article 7 of the Law on Natural Monopolies, to exercise actions specified in Clause 2 of this Article, a holder of natural monopoly must file a petition for approving such actions to a relevant regulator of natural monopolies and report information necessary to make a decision.