OREANDA-NEWS. January 6, 2010. The Government of the Russian Federation passed No.1083 Decree "On Introducing Amendments to Some Acts of Government of the Russian Federation", which changes No.334 and No. 335 Decrees of Government of the Russian Federation of 30th May 2007 ("On Establishing the Size of Assets of Financial Organizations (Except Credit Organizations) for the Purposes of Antimonopoly Control" and "On Establishing the Size of Assets of Credit Organizations for the Purposes of Antimonopoly Control" accordingly.

The decree establishes threshold values exceeding which organizations must notify the antimonopoly authority in accordance with Article 30 of the Federal Law "On Protection of Competition".

The Decrees increases previously established threshold values for preliminary consent for transactions, specified in Articles 27 and 29 of the Federal Law "On Protection of Competition", on acquiring stock (shares) of assets and rights of financial organizations as well as on completing mergers and acquisitions of financial organizations.

When the Decree comes into force, exceeding the following assets of financial organizations will constitute the grounds for notifying the antimonopoly authority in accordance with Clause 6 Part 1 Article 30 of the Federal Law "On Protection of Competition":

1. 2 billion Rubles - for credit organizations;

2. 1 billion Rubles - for leasing companies;

3. 500 million Rubles - for private pension funds, stock exchange and currency exchange;

4. 200 million Rubles - for mutual insurance companies, credit consumer cooperatives;

5. 100 million Rubles - for insurers (except medical insurance companies), insurance brokers, professional participants of securities market, managing companies of investment funds, managing companies of mutual investment funds, managing companies of private pension funds, specialized depositaries of investment funds, specialized depositaries of mutual investment funds, specialized depositaries of private pension funds;

6. 50 million Rubles - for medical insurance companies and pawn broker's shops.

Preliminary consent of the antimonopoly authority for transactions and actions specified in Chapter 7 of the Federal Law "On Protection of Competition" is required when assets of financial organizations exceed the following:

1. 25 billion Rubles - for credit organizations;

2. 3 billion Rubles - for leasing companies;

3. 2 billion Rubles - for private pension funds;

4. 1 billion Rubles - for stock exchanges and currency exchanges;

5. 500 million Rubles - for mutual insurance companies, credit consumer cooperatives;

6. 200 million Rubles - for insurers (except medical insurance companies), insurance brokers, professional participants of securities market, managing companies of investment funds, managing companies of mutual investment funds, managing companies of private pension funds, specialized depositaries of investment funds, specialized depositaries of mutual investment funds, specialized depositaries of private pension funds;

7. 100 million Rubles - for medical insurance companies and pawn broker's shops.

"Increasing the assets threshold, exceeding which credit organizations will require a FAS Russia's consent, proceeds from an economic rationale. Banks' assets are expanding and the Antimonopoly Service is receiving more and more documents for approving transactions with the companies that cannot hold any monopolistic position", said Andrey Kashevarov, Deputy Head of FAS Russia, commenting the Decree of Government of the Russian Federation.