Windfall tax for major companies to be introduced in Russia

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Daily Monitoring of the Legislation

Monitoring of the Federal Legislation dated 19.11.2002

Decree of the President of the Russian Federation No. 1325 of November 14, 2002 on the Endorsement of the Regulation on the Procedure of Consideration of Issues of Citizenship of the Russian Federation

Sets forth the procedure of consideration of applications in issues of citizenship of the Russian Federation, adoption, execution and revocation of decisions in the mentioned issues, as well as provides the forms of applications and the list of necessary documents pertaining to particular circumstances of acquiring of the citizenship of the Russian Federation and expatriation.
The Decree is entered into force from the day of its official publication.

Decree of the President of the Russian Federation No. 1318 of November 14, 2002 on the Endorsement of the Regulation on the Commission of the President of the Russian Federation for Issues of Citizenship and Its Composition

The Commission is an advisory and consultative body operating under the auspices of the President of the Russian Federation and ensuring implementation of the constitutional power of the head of the state in issues of citizenship of the Russian Federation and granting of political asylum. The Decree lists the main tasks and functions of the Commission, its rights, duties, procedure of forming and decision taking.
The Decree is entered into force from the day of its official publication.

Decision of the Government of the Russian Federation No. 829 of November 15, 2002 on the Amendments to the Financial Terms of Exchange of the Commercial Debt of the Former USSR Endorsed by the Decision of the Government of the Russian Federation No. 931 of December 29, 2001 on the Regulation of the Commercial Debt of the Former USSR to Foreign Commercial Creditors

Changes the procedure of calculation of the interest rate for obligations in the commercial debt of the former USSR to foreign commercial creditors, in particular, percent rates for overdue interest under conditional restructured credits and conditional interest-bearing bonds.
The Ministry of Finance of the Russian Federation is empowered with the right to amend the financial terms (procedure of determination of the amounts of the main debt under obligations in commercial credits documented with bankbills and promissory notes, the rounding of the regulated amounts, procedure of fixing of conversion rates for individual currencies etc.) without essential changes.

Decision of the Government of the Russian Federation No. 823 of November 14, 2002 on the Procedure of Endorsement of the Lists of Positions and Works Occupied or Carried Out by Employees Hired by the Employer under the Written Contracts of Full Personal or Collective (Team) Material Responsibility, As Well As the Typical Forms of Contracts of Full Material Responsibility

The mentioned lists and typical forms must be worked out and endorsed before January 1, 2003 by the Ministry of Labour of the Russian Federation.

Direction of the Central Bank of Russia No. 1204-U of November 4, 2002 on the Invalidation of Item 3 of the Regulation of the Bank of Russia No. 437 of April 23, 1997 on the Particulars of Registration of Credit Organizations with Foreign Investments and on the Procedure of Obtaining of the Preliminary Permission of the Bank of Russia to Augment the Registered Capital of the Registered Credit Organization at the Expense of Resources of Non-Residents

Invalidates the provision stating that before adoption of the appropriate federal law, the quota of participation of foreign capital in the bank system of the Russian Federation specified by the Board of Directors of the Bank of Russia is applied.
The Direction is entered into force 10 days after the day of its publication in the Herald of the Bank of Russia.

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