A draft bill on the notary system and notarial services has been introduced in the State Duma. The draft bill is intended to replace the framework legislation on the notary system which is currently in force and proposes substantial amendments, including the following:
- A new system of liability for damages caused by the actions of notaries and other persons involved in notarial activities will be introduced.
- A new system of compulsory insurance for professional liability risks for notaries has been developed, which provides guarantees for persons who have suffered damages in the form of increased mandatory insurance coverage amounts – in particular, Rb30 million for individual insurance and Rb50 million for collective insurance (up from Rb1.5 million for individual insurance and Rb500,000 per notary for collective insurance).
- The possibility to file a court challenge against documents certified by a notary on the grounds of the notary's violation of the procedure provided under law will be regulated in greater detail (the existing legislation stipulates only the possibility of disputing documents, without specifying the grounds for doing so).
- Notaries will be allowed to collect all necessary documents and information themselves.
For further information on this topic please contact Anna Fufurina or Alexander Titov at Noerr by telephone (+7 495 799 56 96) or email (email@example.com or firstname.lastname@example.org). The Noerr website can be accessed at www.noerr.com.
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