About defrauded real estate investors and electronic vehicles

electronic TCP, defrauded co-investors, the Fund for the Protection of Citizens' Rights

16 October. Prime Minister Dmitry Medvedev signed a decree on the creation of a fund to protect the rights of citizens - participants in shared construction. The Supervisory Board of this fund will be headed by Deputy Prime Minister, Head of the Government Staff Sergei Prikhodko.

The principles of the fund are set out in five documents adopted by the government. The fund is designed to solve the problems of defrauded co-investors. "The very concept of a" deceived shareholder "should disappear," said Prime Minister Dmitry Medvedev. The laws that were adopted before, designed to restore order in the field of shared construction, were not effective enough, admitted Dmitry Medvedev.

"The Fund will help complete the construction or refund the investors' investments if the developer went bankrupt, but at the same time paid mandatory contributions to the compensation fund," Medvedev said.

The fund will be formed at the expense of companies that attract the means of co-investors for the construction of residential buildings of blocked buildings consisting of 3 or more blocks or apartment buildings. The fund will be able to invest the free funds to generate income, which in the future can be used to help defrauded co-investors. The decision to finance unfinished houses will be made depending on the amount required. If the amount does not exceed 500 million rubles, then approval from the board of this fund is enough, if more, then the issue will be brought to the level of the supervisory board.

electronic TCP, defrauded co-investors, the Fund for the Protection of Citizens' Rights

Another option to help co-investors is the payment of a refund in cash. "Payments under agreements for participation in shared construction will be made when the developer is declared bankrupt by the arbitration court, competitive proceedings have been opened against him and the developer has paid mandatory contributions to the compensation fund," Dmitry Medvedev explained.

The solution of the problems of defrauded co-investors will be on the special control of the government, as indicated by the appointment of the compensation fund of the vice-premier, head of the government apparatus Sergei Prikhodko to the post of head of the supervisory board. The supervisory board will include 7 people with a term of office of 3 years.

The procedure for introducing electronic passports of vehicles was also approved. "Now each car will have a history in electronic form from the moment of production or importation into the territory of Russia and up to the moment of disposal," Dmitry Medvedev told correspondents.

Owners of vehicles registration of electronic vehicles will cost 600 rubles. PTA on paper will go down in history. The final transition to the electronic version will take place on July 1, 2018, "Rostekh" reported.

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