On Dec. 13, RUS GVT issued law on additional housing construction.
RUS GVT published law 464-FZ on amending art 2 and 51 of law on promoting the development and improving the efficiency of management in the housing sector and on amending certain legislative acts of the Russian Federation.
Key Provisions
The law establishes that at least 50% of shares plus one ordinary shares of the unified development institute in the housing sector are owned by of the Russian Federation.
This includes case of acquisition by a single institution of the status of a public JSC in the housing sector in the manner provided for by law on joint stock companies.
The law stipulates that peculiarities of the exercise of rights on behalf of Russia shareholders of a single development institution are determined by RUS GVT.
Besides the law expands the list of tasks and functions of a single institution development in the housing sector, and the requirements for its financial stability.
Effectiveness
The law enters into force on Jul. 1, 2025, except for articles on liquidity which enter into force on Jan. 1, 2026.
