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Vladimir Putin signed Federal Law On the Russian Direct Investment Fund.
The Federal Law establishes the legal status, organisational principles, purpose of the creation and activities, procedure for reorganisation and liquidation of the Russian Direct Investment Fund Management Company, as well as the procedure for its operations in the trust management of investment funds, including closed mutual investment fund Russian Direct Investment Fund.
In accordance with this Federal Law the sole shareholder of the company is the Russian Federation.
Government control of this joint-stock company’s operations will be exercised through a special procedure, whereby the CEO and the Supervisory Board members will be appointed by the President of the Russian Federation based on the recommendations of the Prime Minister of the Russian Federation.
June 2, 2016