Abstract
To regularize the three-body problem, Minlos and Faddeev suggested a modification of zero-range model, which diminishes interaction at the triple-collision point. The analysis reveals that this regularization results in four alternatives depending on the regularization parameter $ \sigma $. Explicitly, Efimov or Thomas effects remain for $ \sigma < \sigma_c $, the additional boundary conditions of two types should be imposed at the triple-collision point for $ \sigma_c \le \sigma < \sigma_e $ and $ \sigma_e < \sigma < \sigma_r $, and the problem is regularized for $ \sigma \ge \sigma_r $. Critical values $ \sigma_c < \sigma_e < \sigma_r $ separating different alternatives are determined both for a two-component three-body system and for three identical bosons.
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