OREANDA-NEWS. December 09, 2011. The Ministry of Justice registered No.732 FAS Order “On Introducing Changes to No.67 FAS Order of 10th February 2010” that establishes the procedures for the auctions for selling property of Federal State Unitary Enterprises, reported the press-centre of FAS Russia.

No.732 Order was passed by FAS to execute the Decree of the Government of the Russian Federation “On Enforcement of the Decree of the Government of the Russian Federation: “On Enforcement Powers of Federal Executive Bodies for Exercising the Ownership Rights for the Property of Federal State Unitary Enterprises” (No.333, of 6th June 2003).

On 20th June 2011, changes were introduced to Decree of the Government of the Russian Federation, according to which property selling transactions take place only at auctions in accord with the procedures established by the antimonopoly authority.

Under the amendments, auctions for selling the property of Federal State Unitary Enterprises will take place according to the procedures specified for lease contracts. Auction transparency will be secured by a closed list of requirements set by auction organisers for the auction bidders, and for the documents that must be filed, as well as by a closed list of the grounds for refusals to take part in the auctions. Also placing information about auctions on the official site - torgi.gov.ru – becomes mandatory.

“Organising the auctions for sale and lease according to the standard procedures will positively affect business climate, because for investors it is important to have simple and unified rules, especially in relations with the state”, emphasises the Head of FAS Department for Control over Housing and Utility Services, Construction and Natural Resources, Mr. Rachik Petrosyan.