Putin signs law on state corporation Roscosmos

Russian President Vladimir Putin has signed a federal law On the State Corporation for Space Activities Roscosmos, the Kremlin press service reported on July 13.

Russian President Vladimir Putin has signed a federal law On the State Corporation for Space Activities Roscosmos, the Kremlin press service reported on July 13.

The law was passed by the State Duma on July 1, 2015 and approved by the Federation Council on July 8, 2015.

The federal law aims to improve the system of management in the sphere of space activities, preserving and developing the scientific and production potential of rocket and space industry organizations for the purpose of strengthening the country\'s defense and ensuring the security of the state.

The federal law determines the goals of the state space corporation Roscosmos (hereinafter referred to as the corporation), including the implementation of state policies and exercising of legal regulation in the sphere of space activities, provision of state services in the sphere of space activities and state property management and international activities aimed at space exploration and use.

The federal law establishes the powers of the president of the Russian Federation and the government of the Russian Federation as regards the corporation, and also determines its management bodies.

To carry out the procedure for the transferral to the corporation of the property contribution of the Russian Federation, the law envisages a transition period, in which it will exercise the rights of owner of the property on behalf of the Russian Federation as regards the relevant state unitary enterprises and federal state establishments.

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