Asset Recovery: Register to Include Data about oligarchs and Their Heirs

Regulations for checking the legality of assets' origins are being changed, Orda reports.

The Prosecutor General's Office posted the draft on the "Open NPA" portal.

As the department explained, the regulations are being changed following the law on asset recovery. In particular, it is proposed to include the following:

The register contains information about entities and their affiliates, as well as about the heirs who control the assets.

Now, prosecutors can bring in experts or law enforcement officers if necessary. 

This change may be due to the recent decision to involve Interpol in searching for oligarchs' foreign accounts.

The Asset Recovery Committee also has the right to request information from competent authorities, foreign states, international organizations and affiliated persons,
the explanation says.

The new procedure envisages a new inspection timeframe of no more than 60 days, which can be extended if necessary.

The inspection may be suspended in cases of assignment of expert examinations, receipt of data from abroad or voluntary return of assets,
the document specifies.

The public discussion of the project will last until January 9.

Original Author: Alexandra Mokhireva