A draft new edition of the Civil Code has been submitted to the project discussion portal. The new edition will come into force from January 1, 2022.
The amendments of the Civil Code are aimed at improving the investment climate and ensuring stable property relations in the economy, creating a legislative basis for the use of information and communication technologies in civil legal relations, the creation of favourable conditions for self-employment and entrepreneurial activity, the liberalization of contractual relations and their compliance with international standards and the strengthening of legal protection of individuals and entities.
In accordance with the new draft of the Civil Code, there will be included concepts such as “option”, “corporate contract”, “conditional deposit (escrow)”, “distribution agreement”, “agency”, “digital rights”, “development rights (superficial)”, “rights of personal use and possession (usufruct)” and others.
Under the draft, legal persons will be divided into legal entities of private law and legal entities of public law. The differences between the two are in the manner in which they are created: legal entities of private law, created on the basis of founding documents; legal entities of public law created by a decision of the President or other State bodies. In addition, individual entrepreneurs are allowed to carry out certain activities without State registration.
The new draft of the Civil Code provides for the following amendments:
- the interpretation of civil legislation;
- the independence of civil rights from political rights. Peremptory norms of civil law;
- performing civic duties;
- protecting the image of the citizen;
- Protection of the privacy of citizens;
- individual self-employment;
- fiduciary duties of bodies and officials of a legal person, etc.
- Right to build (superficial);
- The right to personal benefit (usufruct);
- Contract of sale subject to repurchase;
- Purchase and sale with instalment payment (contract of sale of goods on credit, in instalments) etc.
The draft has been submitted for discussion by the Legal Policy Research Institute of the Ministry of Justice and may be amended, supplemented or rejected.