The draft bill establishes criminal responsibility for a number of deeds which generate the legal preconditions for subsequent corporate raiding. In particular, these deeds include tampering with resolutions by general shareholders’ meetings and decisions made by boards of directors of business entities, as well as submitting purposefully misleading information to the Consolidated State Register of Legal Entities or the Register of Securities Holders.
Amendments to the Criminal Code will allow authorities to bring corporate raiders to justice at the early stages of their unlawful activities, thus preventing the consequences thereof.
In light of the severe public hazard posed by corporate raiding and specific complexity of resolving such offences which may involve corrupt officials within state authorities, the bill stipulates that once the Criminal Code is extended with new articles, offences of corporate raiding shall be investigated by the Prosecutor General’s Office Investigative Committee.