OREANDA-NEWS. May 15, 2014. The Arbitration Court of the Primorie region pronounced legitimacy of the Federal Antimonopoly Service (FAS Russia) to impose an administrative fine upon “ROLIZ” Ltd. – 500,000 RUB for failure to file a petition provided for by the law on foreign investments in the Russian Federation (No.57-FZ Federal Law).

FAS held “ROLIZ” Ltd. administratively liable for committing an administrative violation under Part 1 Article 19.8.2 of the Code on Administrative Violation, on 20th December 2013. “ROLIZ” Ltd. is mainly involved in fishing in the high seas and inland sea waters.

“The Federal Antimonopoly Service is the authorized body for control over foreign investments in the Russian Federation. Therefore, failure to file petitions to FAS required by the law on foreign investments, or filing petitions with knowingly incorrect data or with breaching the procedures, the deadlines for filing petitions, constitute violations. In this case, legal entities can be fined 500,000 RUB – 1 million RUB”, commented the Head of FAS Department for Control over Foreign Investments, Armen Khanyan.

“ROLIZ” Ltd. was fined 500,000 RUB. The company disagreed with FAS determination and filed a lawsuit to the Arbitration Court of the Primorie region. The Court, however, supported FAS and dismissed the claim.