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The amendments to the Civil Code of the Russian Federation (the “Civil Code”) concerning corporate law, which entered into force on 1 September 2014, form the most significant development since the shaping of modern corporate law in Russia. The legislator’s rationale behind the reform of corporate law is to create a more favourable and democratic environment for businesses, while at the same time taking into account the rights and interests of creditors, participants/shareholders and the companies themselves. New legislative mechanisms are also designed to increase the attractiveness of Russian joint ventures for foreign investors.