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President Vladimir Putin signed the Federal Law on Amendments to Article 12 of the Federal Law on the State Regulation of Aviation Development

October 26, 2006

The federal law aims to expand possibilities for foreign capital to participate in aviation organisations involved in the development, manufacturing, testing, repair and (or) reprocessing of aviation equipment. Foreign capital may participate in aviation organisations so long as it accounts for a share of less than 25 percent of the organisation’s charter capital, or by decision of the President of the Russian Federation.

The federal law also states that the directors and management of aviation organisations shall be citizens of the Russian Federation, with exceptions only by decision of the President of the Russian Federation.

October 26, 2006