Amendments to the Civil Code of the Russian Federation Effective From 1 July 2014

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Part I of the Civil Code of the Russian Federation -

A further set of amendments to the Civil Code of the Russian Federation ("Russian Civil Code"), introduced by Federal Law No. 367-FZ On Amendment of the First Part of the Civil Code of the Russian Federation and Recognition of Certain Legislative Acts (and their Provisions) of the Russian Federation Invalid dated 21 December 2013, becomes effective on 1 July 2014 and the old Law on Pledge 1992 becomes inoperative.

The new amendments to the Russian Civil Code will only apply to legal relationships that emerge after 1 July 2014 and, as usual, do not affect rights and obligations that existed before.

Some amendments are aimed at structuring or clarifying the existing provisions, however there are some provisions which have not previously been set out in Russian civil laws.

The principal amendments are covered in this overview below.

Please see full alert below for more information.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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