The Federal Law, in accordance with the Russian Federation Civil Code, sets the provisions for the establishment, activity, reorganisation and liquidation of public-private companies and regulates the legal provisions relating to these organisations.
According to the Federal Law, a public-private company is a unitary non-commercial organisation established by the Russian Federation based on federal law or by presidential executive order, having the functions and powers of public-private nature and acting in national and public interests.
The Law makes it possible to establish a public-private company through the reorganisation of state corporations (with the exception of several corporations noted in the Federal Law), state-owned companies or joint stock companies in which the Russian Federation is the sole participant.
Public-private companies can be established to carry out state policy, provide state services, manage state assets, pursue economic modernisation and economic development, perform oversight, management and other functions of public benefit in certain economic sectors and areas, carry out particularly important projects and state programmes, including regional socioeconomic development programmes, and perform other functions of a public-private nature.
Relevant amendments have been made to a number of Russian laws.