State Duma passes first draft law on railway reform

On Tuesday, the State Duma /the lower chamber of the Russian parliament/ passed in the third, final reading of the governmental draft law "On rules of control and disposal of railway transport property".

This draft law is the first one out of the governmental package of laws on railway transport reforms, including the total of four draft laws.

The draft law "On rules of control and disposal of railway transport property", which was passed in the third reading, establishes legal and organisational rules of control and disposal of railway transport property.

According to the document, privatisation of the federal railway transport is carried out in compliance with the Russian legislation and takes into consideration the peculiarities envisaged by the current federal legislation.

Privatisation on the federal railway transport forms a single market participant - the "Russian Railways" open joint stock company.

The decision to form a single market participant has been taken by the Russian government. The government is also to approve its regulations.

The single market participant performs the following types of activity: maintenance and exploitation of general railway transport infrastructure; freight, passengers and luggage transportation; extension of locomotive traction services /in passenger and goods traffic/; rolling stock repairs; building of infrastructure objects; research engineering and development activities; social sphere maintenance; other activities, not protected by the Russian legislation.

The stock of the single market participant is owned by the Russian Federation. Sale and other types of alienation as well as mortgaging of federally owned shares belonging to the single market participant can be carried out on the basis of the Russian legislation only.

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Author`s name: Editorial Team