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June 26th, 2007
The Bill on Russian Nanotechnology Corporation has been materially revised for the second reading in the State Duma. The greatest change is complete control of the government over the corporation with the starting capital of 130 billion rubles. The government has strengthened its standing in the Supervisory Board of Rosnanotekh and is likely to be entitled to elaborate rules for funding its projects, though the corporation will probably independently supervise their progress.
State Duma's Economic Policy and Entrepreneurship Committee has recommended to the State Duma to pass in the second reading the Bill on Russian Nanotechnology Corporation (Rosnanotekh). When shaped for the second reading, the bill was extended by a new chapter spelling out the state control over Rosnanotekh money and reducing the strength of its Supervisory Board from 14 to eight members.
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