OREANDA-NEWS. August 08, 2011. The Federal Antimonopoly Service (FAS Russia) completed an administrative investigation upon the signs of “Gazprombank” OJSC violating Part 3 Article 19.8 of the Code of the Russian Federation on Administrative Violations, reported the press-centre of FAS Russia.

In October 2010, “Gazprombank” OJSC filed a petition to FAS Russia about acquiring shares of a credit organisation. Information about the company’s group of shares did not include “Gazprom” OJSC.

In course of the investigation FAS revealed certain circumstances showing that the above information about “Gazprombank” OJSC was incorrect.

In particular, FAS discovered that in 2007, following a proposal of the Chairman of the Board of “Gazprom” OJSC, the sole executive body of “Gazprombank” OJSC was elected for the period of five years, which constitutes the grounds for finding that “Gazprom” OJSC and “Gazprombank” OJSC form a group of persons according to Clause 7 Part 1 Article 9 of the Federal Law “On Protection of Competition”.

FAS Russia initiated an administrative case against “Gazprombank” OJSC under Part 3 Article 19.8 of the Code of the Russian Federation on Administrative Violations and drew a Protocol on the administrative violation.

Reference:

Clause 7 Part 1 Article 9 of the Federal Law “On Protection of Competition”:

A group of persons is a group of physical persons and (or) legal entities that meet the following criteria:

An economic entity and a physical person or a legal entity, if following a proposal of this physical person or this legal entity a sole executive body of the economic entity was appointed or elected.

Part 3 Article 19.8 of the Code on Administrative Violations:

Failure to submit petitions, required under the antimonopoly law of the Russian Federation, to the federal antimonopoly body, its regional offices, submitting petitions that knowingly contain incorrect information, as well as breaching the procedures and periods for filing the petitions as established by the antimonopoly law of the Russian Federation, is punishable by an administrative fine – upon citizens – from 1500 to 2500 Rubles, upon officials – from 15,000 to 20,000 Rubles and upon legal entities – from 300,000 to 500,000 Rubles.