Monitoring of the Federal Legislation dated 23.12.2002

Ruling of the Constitutional Court of the Russian Federation No. 284-O of December 10, 2002 on the Request of the Government of the Russian Federation on the Constitutionality of the Decision of the Government of the Russian Federation on the Endorsement of the Procedure of Determination of Payment and Its Maximum Amounts for the Pollution of the Natural Environment, Deployment of Waste, Other Types of Harmful Interference and Article 7 of the Federal Law on the Entering into Force of Part 1 of the Tax Code of the Russian Federation

Decision of the Government of the Russian Federation No. 632 of August 28, 1992 endorsing the procedure of determination of the payment for the pollution of the natural environment and other types of harmful interference - since it has been adopted by the Government of the Russian Federation in execution of the authority provided in the Federal Law and envisages collection of non-tax payments - preserves its force and must be applied as not contradicting the Constitution of the Russian Federation.
Earlier, the Decision of the Supreme Court of the Russian Federation No. GKPI 2002-178 of March 28, 2002 recognised the mentioned Decision as illegal (invalid) because it imposed the duty to pay the tax other than the one fixed in the Federal Law.
The Ruling is entered into force from the day of its official publication.

Decision of the Federal Commission for Securities Market No. 44/ps of November 6, 2002 on Additional Requirements to the Procedure of Creation of Shared Investment Funds from the Property of Joint-Stock Companies

Joint-stock companies possessing as of January 1, 1997 the license for activities of investment funds accumulating privatisation checks of citizens may create at the decision of the general meeting of stock-holders shared investment funds out of their property within 3 years from the moment of entering into force of the Law on investment funds (December 3, 2001). The property of one joint-stock company may be used to create one or several shared investment funds.
No later than within one month from the moment of termination of the forming of the shared investment fund, the decision on the liquidation of the joint-stock company must be taken, or the decision on the reduction of the registered capital by purchasing the deployed stocks of the joint-stock company.
Registered in the Ministry of Justice of the Russian Federation on December 18, 2002. Reg. No. 4037.