Federal Law No. 123-FZ of 1997 "On privatisation of state property and basic principles of privatisation of municipal property". Country/Territory Russian Federation Document type Legislation Date 1997 Source FAO, FAOLEX Subject Land & soil Keyword Public land Vested rights/existing rights Urban land Protected area Cultural heritage Geographical area Arctic, Asia and the Pacific, Black Sea, Caspian Sea, CIS (Commonwealth of Independent States), Eastern Europe, Europe, Europe and Central Asia, North Pacific, North-West Pacific Entry into force notes Entry into force from the date of its official publication. Abstract This Law establishes organizational and legal bases for the transformation of property relations through privatisation of state and municipal property for the purpose of increasing efficiency of national economy and its social orientation, improving balance of payment of the Russian Federation, carrying out protectionism as regards national commodity producers. The document consists of III Sections that contain 31 Articles. Section I lays down the general provisions. Section II regards the modalities and methods of carrying out privatisation of state and municipal property. Section III lays down the conclusive provisions. Article 3 specifies that the provisions of this Law don't apply to privatisation of land, privatisation of natural resources, privatisation of cultural heritage and protected areas. Article 4 specifies that state property is classified in the program of privatisation as : 1). Property prohibited for privatisation ; 2). Property assigned to the state until further notice of the cessation of such assignation; 3). Property destined for privatisation with the ban on participation of foreign physical and juridical persons ; 4). Property destined for privatisation in accordance with the decrees and orders of the Government ; 5). Property destined for privatisation in accordance with the decisions of a Federal Executive Body. Full text Russian