New Meta* Universe in Russia.The Sequel
It is the sequel of the case we reviewed as of 22 March, related to Meta Platforms Inc.* activity on operation of Facebook* and Instagram* social network in the territory of the Russian Federation.
Currently, a great number of western companies declare the winding-up or suspension of their business activity in Russia. For many counterparties, which render services, perform works, or supply materials and goods to these companies (clients or a buyers), their winding-up inevitably leads to permanent or temporary ceasing of operations in the territory of the Russian Federation and, as a consequence, minimizing the associated costs of the Russian legal entity – at least for the next several months.
The State Duma of the Russian Federation approved a bill (Bill) providing amendments to the legislation on the protection of competition in the first reading.
On July 1, 2021, Federal Law No. 225-FZ of 28.06.2021 "On Amendments to Part One of the Civil Code of the Russian Federation" (the Law) aimed at improving and increasing the effectiveness of holding remote meetings came into force.
In order to tighten up control over online advertising, Federal Law No. 347-FZ of 02.07.2021 "On Amendments to the Federal Law "On Advertising" (the Law) came into force on July 2, 2021.
On 23.06.2021 the Federation Council approved the Law on Convertible Loan. After the law is signed by the President of the Russian Federation, it will enter into force within 10 days.
On 01.09.2021 Federal Law No. 174-FZ dd 11.06.2021 (the Law) enters into force.
To prevent the direct implementation of provisions of the Joint Stock Companies (hereinafter-JSC) legislation in the Charters, draft laws that soften the requirements for Charters were introduced to the State Duma of the Russian Federation.
The Supreme court has amended the regulation of pledges, established by the Supreme Arbitration Court of the Russian Federation earlier. The Decree of the Plenum of the Supreme Court No. 45 "On some issues of dispute resolution connected to pledge" dated 24.12.2020 (hereinafter – DPSC No. 45) derogates the Decree of the Plenum dated 12.07.2012 No. 42 (hereinafter – DPSAC No. 42) and resolves main problems raised in connection with the reform of this institute in 2015.
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