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13 October 2015 |
State Duma holds parliamentary hearing on application of new PPP lawOn October 12, 2015, the State Duma Property Committee organized parliamentary hearings on the Prospects and Practical Aspects of Applying Federal Law № 224-FZ “On Public-Private Partnership, Municipal-Private Partnership in the Russian Federation and the Amendment of Certain Legislative Acts of the Russian Federation.” Head of PPP and Infrastructure practice at VEGAS LEX, spoke at the meeting. The expert noted the PPP law is bound to benefit the market. She focused on its positive aspects, and cited plans for its further improvement. The participants also discussed the basic provisions of 224-FZ and the potential for their application, the opportunities of attracting private investment to the economy given the existing non-concessional PPP model. The participants repeatedly emphasized that the new law gives the advantage of flexibility in terms of relations between the parties involved. At the same time, the possibility of termination of a partner’s ownership directly required by the law was assessed as being too rigid and uncompromising measure. It was also noted that, if necessary, the federal law “On Public-Private Partnership, Municipal-Private Partnership in the Russian Federation and the Amendment of Certain Legislative Acts of the Russian Federation” will be revised based on its enforcement practice.* *** *Source State Duma website. For more information on VEGAS LEX’s PPP and infrastructure projects, please go here. |
