Monitoring of the Federal Legislation dated 19.03.2003

Decision of the Government of the Russian Federation No. 155 of March 14, 2003 on the Endorsement of the List of Positions of the Members of Flight Crews of Air Vessels of Civil Aviation Permitting to Get the Monthly Supplement to the Pension under the Federal Law on Additional Social Support for the Members of Flight Crews of Air Vessels of Civil Aviation and the Rules of Calculation of the Length of Service Permitting to Get the Monthly Supplement to the Pension

The list of positions permitting to get the monthly supplement to the pension now includes individual categories of pilots, navigators, engineers, mechanics, radiomen and other members of the flight crew.
The length of service is calculated proceeding from flight hours. In particular, every 20 flight hours are counted in as one month of the length of service. The document confirming the flights as a member of the flight crews of air vessels of civil aviation and flight hours is the flight book. If the flight book is not available, or information contained in it is not sufficient, the mentioned information may be confirmed by excerpts from orders, certificates and other documents issued by employers according to established procedure.
The Ministry of Labour of the Russian Federation is ordered to provide explanations in coordination with the Pension Fund of the Russian Federation on the use of the list and the Rules.
The Decision is entered into force from February 1, 2003.
The text of the document has not been published officially as of the moment of placing on the site.

Order of the Ministry of Finance of the Russian Federation No. 14n of February 7, 2003 on the Implementation of the Decision of the Government of the Russian Federation No. 817 of November 11, 2002

Endorses the requirements to the guarding regime of the rooms (territories) used for the making and registration of protected printed items, as well as the technical requirements and terms of making of the protected printed items. Specifies that persons engaged in the making of individual types of protected printed items must use as guidance the mentioned requirements, as well as to present to the Ministry of Finance of the Russian Federation reports of the produced blank forms of securities and quarterly reports of the produced in the reported period protected printed items according to the provided form.
Registered in the Ministry of Justice of the Russian Federation on March 17, 2003. Reg. No. 4271.

Direction of the Central Bank of Russia No. 1246-U of February 10, 2003 on the Actions in Cases of Revealed Facts (Signs) of the Forming of the Sources of Own Resources (Capital) (Part Thereof) Using Improper Assets

Makes more specific the procedure of presentation of claims to credit organisations to correct the capital and defines the sequence of actions of the divisions of the Bank of Russia in cases of revealed facts or sings of the forming of the sources of own resources (capital) (part thereof) when investors use improper assets.
The Direction is entered into force 10 days after the day of official publication in the Herald of the Bank of Russia.
Registered in the Ministry of Justice of the Russian Federation on March 17, 2003. Reg. No. 4270.

Regulation of the Central Bank of Russia No. 215-P of February 10, 2003 on the Method of Determination of Own Resources (Capital) of Credit Organisations

Envisages exclusion from the capital estimate of the part of the sources of own resources formed by investors with improper assets. The improper assets are implied to be the property provided to the investor directly or indirectly by the credit organisation itself, as well as the property provided by other persons if the credit organisation assumed the risks of losses pertaining to the provided property.
If in the course of assessment carried out by the Bank of Russia or its territorial institutions the facts of forming of the sources of the main and/or additional capital (part thereof) when investors use improper assets are revealed, the credit organisation gets the demand to exclude these sources from the capital estimate as of the subsequent reporting date after the credit organisation gets this demand.
The Regulation introduces the requirement to use for the purposes of estimation of obligatory normatives of activities of credit organisations the amount of own resources (capital) determined as a result of the assessment carried out by the Bank of Russia, as well as to reflect the mentioned amount of own resources in the reports of credit organisations and bank groups including the published ones.
As compared to the previous Method, the Regulation changes the periods of inclusion in the estimate of own resources (capital) of the amount of surplus of the cost of property available on the balance of the credit organisation at the expense of the reassessment. The mentioned amount may be included in the capital no sooner than once in three years on the basis of the most recent annual accounting report confirmed by an audit organisation (earlier, the surplus cost of the property at the expense of the reassessment was included in the capital estimate no sooner than once a year). The amount of the main capital (earlier, the amount of the total capital) is reduced by the amount of the investments of the credit organisation in the stocks (share of participation) of credit organisations, branches and dependent economic companies. Credit organisations are ordered to asses the quality of own resources (capital) within one month from the day of entry of the Regulation into force and exclude, beginning with the firs t reporting date after expiry of the mentioned term, from the estimate of own resources (capital) the sources (part thereof) formed by investors using improper assets.
The Regulation is entered into force 10 days after the day of official publication in the Herald of the Bank of Russia.
Registered in the Ministry of Justice of the Russian Federation on March 17, 2003. Reg. No. 4269.

Decision of the Managing Board of the Pension Fund of Russia No. 15p of February 3, 2003 on the Endorsement of the Procedure of Appealing of the Insured Persons to Specify the Address of the Place of Residence in Their Individual Personal Accounts in the System of Individual (Personified) Records

Defines the actions of the insured persons and the bodies of the Pension Fund of the Russian Federation to specify the address to be used to send the documents pertaining to the individual personal account in the system of individual (personified) records for the purposes of obligatory pension insurance, in particular, for sending no later than July 1 each year to the insured persons of information on the condition of the special part of their individual personal accounts, results of investing of resources of accumulated pensions and the necessary documents to choose the investment portfolio (management company) or the authorised non-state pension fund. To get the mentioned information, the insured persons apply to specify the address before April 1 of each year. If this time limit is not observed, this information is sent to the insured person to the address available in his individual personal account in the appropriate year. The Decision provides the form of the application. Blank forms of the application of the insured person to specify the address are made by the divisions of the Pension Fund of Russia.
Registered in the Ministry of Justice of the Russian Federation on March 14, 2003. Reg. No. 4267.

Order of the Ministry of Property Relations of the Russian Federation No. 583-r of February 10, 2003 on the Invalidation of the Order of the Ministry of Property Relations of Russia No. 331-r of August 2, 2000

Pursuant to the invalidation of the Decision of the Government of the Russian Federation No. 81 of January 29, 2000 on the audit checks of the federal state unitary enterprises, invalidates the Order of the Ministry of Property Relations of Russia No. 331-r of August 2, 2000 on the endorsement of the procedure of arrangement of the contest to select authorised audit organisations
Registered in the Ministry of Justice of the Russian Federation on March 14, 2003. Reg. No. 4266.

Decision of the Federal Commission for Securities Market No. 03-2/ps of February 5, 2003 on the Amendments to the Regulation on the System of Qualification Requirements to the Heads, Controllers and Specialists of Organisations Engaged in Professional Activities at Securities Market, to the Heads and Specialists of Organisations Managing Investment Funds, Shared Investment Funds and Non-State Pension Funds, As Well As to the Heads and Specialists of Organisations Carrying Out the Activities of a Specialised Depositary of Investment Funds, Shared Investment Funds and Non-State Pension Funds Endorsed by the Decision of the Federal Commission for Securities Market of Russia No. 27/ps of July 5, 2002 with Amendments Introduced by the Decision of the Federal Commission for Securities Market of Russia No. 42/ps of October 30, 2002

Qualification requirements specified in the mentioned Regulation of the Federal Commission for Securities Market of the Russian Federation apply to the specialists of organisations engaged in brokerage and/or dealers' activities at securities market and rendering to the issuers services in preparation of the prospectus of securities (financial advisors). New requirements are also specified for the mentioned categories.
The Decision lists the requirements to the applicants seeking qualification certificates of the specialist for corporate finances of the Federal Commission for Securities Market.
Registered in the Ministry of Justice of the Russian Federation on March 13, 2003. Reg. No. 4265.

Decision of the Federal Commission for Securities Market No. 03-5/ps of February 5, 2003 on the Amendments to the Procedure of Licensing of the Types of Professional Activities at Securities Market of the Russian Federation Endorsed by the Decision of the Federal Commission for Securities Market No. 10 of August 15, 2000 (with Amendments of March 21, July 18, 2001)

Excludes the provision permitting double-job holding in organization of trade and depositary activities at securities market.
Extends significantly the list of licence requirements and terms obligatory for the applicant and the license holder, as well as the list of the documents submitted by the applicant to the licensing body. Defines the terms necessary to revoke the license at the initiative of the license holder if he submits an application.
Registered in the Ministry of Justice of the Russian Federation on March 13, 2003. Reg. No. 4264.

Regulation of the Central Bank of Russia No. 214-P of January 29, 2003 on the Procedure of Clearing the Payments of Resident Legal Entities with Non-Residents in Foreign-Trade Deals Envisaging the Purchase and Subsequent Sale of Commodities Abroad without Importing to the Customs Territory of the Russian Federation

Operations under the contracts are carried out by the residents without permissions through their accounts opened in authorised banks while observing the multitude of the following conditions:
- operations are carried out according to the cashless procedure using the accounts of the resident in one bank;
- the period between the date of writing off of the monetary resources from the account of the resident and the date of entry of the monetary resources on the account of the resident must not be greater than 180 calendar days from the date of their writing off;
- the amount of the monetary resources received on the account of the resident, including advance or preliminary payment, must no be smaller than the amount of the monetary resources transferred earlier to non-residents under the contract.
The earlier issued permissions envisaging operations observing the mentioned conditions are invalidated from the day of entry into force of the Regulation. The Regulation lists the conditions permitting the bank to refuse to write off monetary resources from the account of the resident.
The Regulation is entered into force 10 days after the day of official publication in the Herald of the Bank of Russia.
Registered in the Ministry of Justice of the Russian Federation on March 13, 2003. Reg. No. 4258.

Direction of the Central Bank of Russia No. 1241-U of January 21, 2003 on the List of Information and Documents Necessary for the State Registration of the Credit Organisation in Cases of Its Liquidation and Procedure of Their Submission to the Bank of Russia

Specifies the list of information and documents necessary for the state registration of the credit organisation in cases of its liquidation, as well as the procedure of their submission to the Bank of Russia.
The Direction is entered into force 10 days after its official publication in the Herald of the Bank of Russia.
Registered in the Ministry of Justice of the Russian Federation on March 13, 2003. Reg. No. 4257.

Order of the Ministry of Finance of the Russian Federation and the Federal Commission for Securities Market Nos. 10n, 03-6/pz of January 29, 2003 on the Endorsement of the Procedure of Assessment of the Cost of Net Assets of Joint-Stock Companies

The cost of net assets of a joint-stock company is implied to be the value determined by deducing from the amount of assets of the joint-stock company accepted for estimation of the amount of its liabilities accepted for estimation. The Order lists the composition of the assets and liabilities accepted for estimation, provides an estimate of assessment of the cost of net assets of a joint-stock company.
The procedure does not apply to joint-stock companies engaged in insurance and bank activities.
Registered in the Ministry of Justice of the Russian Federation on March 12, 2003. Reg. No. 4252.