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PUBLIC CORPORATION IS A NEW ORGANISATIONAL FORM OF LEGAL ENTITIES IN THE RUSSIAN LEGISLATION

Abstract

On October 2, 2016 the Federal Law of 3 July 2016, №236-FZ "On public corporations in the Russian Federation and on amendments to certain legislative acts of the Russian Federation" came into force This law regulates the establishment and activities of new organizational-legal forms of legal entities for the Russian legislation- public corporations. Legal entities with similar legal status have been established in a number of foreign countries. The reason for the creation of public corporations was the inefficiency of state-owned corporations. The state required the creation of a new form of legal entity that can be entrusted with the solution of a number of strategic objectives in the field of economics. Public corporation is a unitary non-profit organization created by the Russian Federation in the prescribed manner with the authority of a public law nature and operating in the interests of the state and society. Public corporations are established on the basis of the Federal act or of the decree of the President of the Russian Federation, acting on the basis of the decision on the establishment of the company or of the Charter. The law establishes some rules that are common to all public corporations. There is the possibility to directly influence on the activities of public corporations on the part of the President. Public corporations are not liable for obligations of the Russian Federation and the Russian Federation is not liable for the obligations of public corporations. The property is formed mainly due to the contribution of the Russian Federation. There is a possibility to invest temporarily free funds. The Government of the Russian Federation establishes the investment procedure. Public corporations are required to adopt a development strategy that should include targets and expected results of operations. The law establishes the order of conducting and submitting financial statements for public corporations. In general, as the organizational-legal form of legal entities, public corporation is a complex legal formation, the creation of which is due to several reasons of legal and non-legal nature. Public corporations have a significant difference from government-owned corporations. That aspect is also discussed in this article.

About the Authors

Y. A. Tarasov
Southwest State University
Russian Federation


G. C. Ignatenko
Southwest State University
Russian Federation


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Review

For citations:


Tarasov Y.A., Ignatenko G.C. PUBLIC CORPORATION IS A NEW ORGANISATIONAL FORM OF LEGAL ENTITIES IN THE RUSSIAN LEGISLATION. Proceedings of the Southwest State University. 2016;(6):255-260. (In Russ.)

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ISSN 2223-1560 (Print)
ISSN 2686-6757 (Online)