New amendments to the legislation will strengthen the rights of equity holders

01.08.2020

Amendments to the federal legislation regulating shared construction and mortgage mechanisms that have entered into force will strengthen the protection of home buyers, said Anastasia Pyatova, chairman of Moskomstroyinvest.

“In accordance with these innovations, developers who attract the money of equity holders are required to disclose the project documentation, including all changes made to it. Now a single deadline has been set for any changes to the project declaration”, – she explained.

In particular, a requirement was added to the previous standards for the developer to indicate in the design declaration information on the limit parameters of permitted construction, on the general contractor, the deadline for transferring the object to participants in shared construction, SNILS and TIN individuals who are part of the group with the developer.

The law also establishes the possibility of access by law enforcement agencies and the prosecutor’s office to information necessary for the conduct of supervisory activities.

These measures, according to the authorities, will prevent the appearance of new deceived equity holders.

Source: RIA Novosti

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