OREANDA-NEWS. July 04, 2011. The Ministry of Justice of the Russian Federation registered No.201 Order of FAS Russia of 23rd March 2011 “On Approving the Form of a Business Plan of a Business Society of Strategic Importance Submitted by a Foreign Investor in Accordance with Clause 10 Part 2 Article 8 of No.57-FZ “On the Procedures for Foreign Investments in Business Entities of Strategic Importance for National Defence and State Security”, reported the press-centre of FAS Russia.

The Order issued by the antimonopoly authority approves a new form, according to which foreign investors that intend to buy Russian strategic companies submit a draft business-plan of a strategic business entity to FAS Russia governed by No.57-FZ Federal Law.

The previous form of business plan was designed in 2008 in the absence of any enforcement practice of No. 57-FZ Federal Law and contained a number of excessive provisions or provisions that require clarification.

To prepare information according to the old business plan, foreign investors had to spend considerable time and efforts as most often, when filing a petition, a petitioner was not a shareholder of the acquired company. Thereupon, foreign investors had a tendency to file petitions to FAS Russia asking to explain the procedures for preparing a draft business plan.

The new form of business plan considerably reduces the scope of required information and, as a consequence, the period for preparing materials for the petition.

A business plan submitted by a foreign investor plays an important regulatory role because it reflects intentions of the foreign investor regarding development of a strategic activity carried out by a company.

When making a decision about preliminary approval of the transaction, the Government Commission for Control over Foreign Investments in the Russian Federation can determine that executing the plan is an obligation of a petitioner.