Prime Minister Dmitry Medvedev signed a decree about creation of Fund of protection of rights of investors, which will help to complete the construction of problematic homes or refund the money invested by shareholders.
The Prime Minister of Russia Dmitry Medvedev signed a decree about creation of Fund of protection of rights of investors, reports RIA Novosti.
It will hold the mandatory contributions of developers who attract the money of investors. The Fund will help the construction of distressed homes, or to reimburse the shareholders invested money.
According to the document, when making decisions will take into account the degree of readiness of an unfinished house, the amount of the granted money and the time required for the completion of construction, the number of contracts concluded with its shareholders, and the number of residential and non-residential premises, not burdened with rights of third parties.
The government also approved the reimbursement of money to defrauded investors. Payment under contracts of participation in share construction will be made if the contractor is declared bankrupt the Arbitration court, if concerning it openly competitive manufacture and the developer paid mandatory contributions to the compensation Fund. In addition, it is necessary that the meeting of participants of shared construction took the decision to obtain such compensation.
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