State corporation
July, 29 2021

A state corporation is a non-profit organization that does not have a membership, established by the Russian Federation on the basis of a property contribution and created to carry out social, managerial or other socially useful functions (clause 1, article 7.1 of the Federal Law of 12.01.1996 N 7-FZ «On non-profit organizations «).

State corporations are created to perform various functions. The activities of each state corporation are regulated by a separate federal law.

Currently operating public corporations:

· Deposit Insurance Agency (Federal Law No. 177-FZ dated December 23, 2003 «On Insurance of Individual Deposits in Banks of the Russian Federation»);

· VEB.RF (Federal Law No. 82-FZ of May 17, 2007 «On the State Development Corporation VEB.RF»);

· Rusnano (Federal Law of July 19, 2007 No. 139-FZ «On the Russian Corporation of Nanotechnologies»);

· Fund for Assistance to Reform of Housing and Utilities Sector (Federal Law No. 185-FZ of July 21, 2007 «On the Fund for Assistance to Reform of Housing and Utilities Sector»);

· Rostech (Federal Law No. 270-FZ of November 23, 2007 «On the State Corporation» Russian Technologies»);

· Rosatom (Federal Law No. 317-FZ of December 1, 2007 «On the State Atomic Energy Corporation» Rosatom»);

· Roskosmos (Federal Law of 13.07.2015 N 215-FZ «On the State Corporation for Space Activities» Roscosmos»).

Considering the dual legal nature of the state corporation, federal laws determine not only the goals of the corporation, but also its functions. When analyzing the specific norms of laws on public corporations, it is difficult to draw a clear distinction between the goals and functions of a corporation.

State corporations accumulate significant material and financial resources. The problem of increasing the efficiency of the use of these funds, their multiplication is an important state task.

The largest joint stock companies with state participation (companies with state participation) also play an important role in the development of the Russian economy. Some of these companies have a dominant market position, which requires special government regulation.



Alexander Mishchenko

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