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The liability for legal entities and individual entrepreneurs for submission of incorrect information while registration will become more rigorous.

DATE: October 14, 2014 | AUTHOR: atlawyers

02.10.2014  Bill N 613254-6 , under which submission of incorrect information to the state register of legal entities and individual entrepreneurs (company register) authority entails criminal liability – criminal fine, compulsory labor or imprisonment together with criminal fine, was introduced to the State Duma for consideration.

Untimely submission of information to the company register, in its turn, entails administrative liability – criminal fine or prohibition on registration of new legal entities for three years in case of repeated violation of the law.

Current legislation provides for equivalent criminal liability for submission of knowingly false information for certain purposes (art. 170.1 of the RF Criminal Code). Criminal fine as administrative liability is also specified (art. 14.14 of the RF Administrative Offences Code).

Any individual will be able to file with registration authority a claim on incorrectness of the information provided. The registration authority shall send a notification to check such claim. If it does not receive a response, or if the response does not confirm the correctness of information, a record on its incorrectness will be entered to the register.

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