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The RF State Duma will restrict foreign participation in the charter capital of Russian banks to 50%.
DATE: November 16, 2015 | AUTHOR: atlawyers
The RF State Duma will restrict foreign participation in the charter capital of Russian banks to 50%. As follows from the Bill, in case of exceeding the quota the RF Central Bank will be authorized to refuse in registration and issuance of banking licenses, to prohibit increase in the charter capital by way of foreign investments, etc. These rules shall not apply in certain cases, particularly in relation to foreign investments placed before 01.01.2007 or placed with banks, which have a state share in the amount of more than 50%. Up to the present the quotas have not been established.
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