Windfall tax for major companies to be introduced in Russia

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Monitoring of the Federal Legislation dated 7.07.2004

Decision of the Government of the Russian Federation No. 322 of June 30, 2004 on the Endorsement of the Regulation on the Federal Service of Supervision in the Sphere of Protection of Consumer Rights and Human Welfare

The Federal Service of Supervision in the Sphere of Protection of Consumer Rights and Human Welfare is an authorised federal body of executive power in charge of control and supervision in the sphere of sanitary and epidemiological well-being of the population, protection of consumer rights and the consumer market. The Federal Service is supervised by the Ministry of Public Health and Social Development. The Service shall license activities pertaining to the use of infecting agents, as well as activities in the sphere of use of sources of ionising radiation.

Decision of the Government of the Russian Federation No. 321 of June 30, 2004 on the Endorsement of the Regulation on the Ministry of Public Health and Social Development of the Russian Federation

The Ministry of Public Health and Social Development of the Russian Federation is a federal body of executive power in charge of the working out of the state policy and normative-and-legal regulation in the sphere of public health, social development, labour, physical culture, sports, tourism and protection of consumer rights, including organisation of medical prevention work, in particular, infectious diseases and AIDS, medical aid and medical rehabilitation, pharmacy activities, quality, efficiency and safety of medicines, sanitary and epidemiological well-being, living conditions and incomes of the population, demographic policy, medical and sanitary support of the workers of individual industries featuring specially hazardous working conditions, medical and biological assessment of impact on the human body of specially hazardous factors of physical and chemical nature, resort affairs, labour remuneration, pension support, including the non-state pension support, social insurance, labour safety and working conditions, social partnership and labour relations, population employment and unemployment, labour migration, alternative civil service, state civil service (except for the labour remuneration issues), social protection of population including the social protection of the family, women and children.

The Ministry shall coordinate and control activities of supervised by it Federal Service of Supervision in the Sphere of Protection of Consumer Rights and Human Welfare, Federal Service of Supervision in the Sphere of Public Health and Social Development, Federal Service of Labour and Employment, Federal Agency of Public Health and Social Development, Federal Agency of Physical Culture, Sports and Tourism, as well as coordination of activities of the Pension Fund, Social Insurance Fund and the Federal Fund of Obligatory Medical Insurance.

Order of the Ministry of Taxation of the Russian Federation No. SAE-3-21/368@ of June 15, 2004 on the Endorsement of the Form of Information of the Received License (Permission) for the Use of Objects of Water Biological Resources, Amounts of the Fee for the Use of Objects of Water Biological Resources Due for Payment in the Form of a Single and Regular Payments

In pursuance of Chapter 25.1 of the Tax Code of the Russian Federation "Fees for the Use of Objects of Fauna and for the Use of Objects of Water Biological Resources" endorses the form of the information on the received license (permission) for the use of objects of water biological resources, amounts of the fee for the use of objects of water biological resources due for payment in the form of a single and regular payments (KND Form 1110005).

Registered in the Ministry of Justice of the Russian Federation on July 1, 2004. Reg. No. 5886.

Order of the Federal Service of Financial Markets No. 04-22/pz-n of June 29, 2004 on Some Issues of Activities in Organisation of Trade and Clearing Activities at the Securities Market

Specifies the requirements organisers of trade (including the stock exchanges) and clearing organisations are ordered to bring in compliance their activities with before January 1, 2005. Specifies, in particular, that inclusion of securities in quotation lists, as well as the rendering of services assisting transactions with obligations depending on the change of prices for securities or on the change of indices calculated proceeding from the multitude of prices for securities (stock indices), including the transactions envisaging exclusively the duty of the parties to pay depending on the change of prices for securities or the change of stock indices, may be done by the stock exchanges only.

The Order is entered into force from June 30, 2004.

Registered in the Ministry of Justice of the Russian Federation on June 30, 2004. Reg. No. 5882.

Direction of the Central Bank of Russia No. 1469-U of June 30, 2004 on the Invalidation of Individual Normative Acts of the Bank of Russia

Invalidates the Direction of the Bank of Russia No. 1062-U of December 7, 2001 on the procedure of import by the authorised banks to the Russian Federation of the euro currency notes in cash before the euro notes and coins are introduced for circulation in the countries of the European Economic and Currency Union.

The Direction is entered into force 10 days after the day of its official publication in the Herald of the Bank of Russia.

The text of the Direction has been published in the Herald of the Bank of Russia on July 7, 2004, No. 39.

Direction of the Central Bank of Russia, Ministry of Finance of the Russian Federation, State Customs Committee of the Russian Federation No. 1464-U, 55n, 01-10/12 of June 29, 2004 on the Invalidation of the Regulation of the Bank of Russia, Ministry of Finance of Russia and the State Customs Committee of Russia No. 02-29/36, No. 11-05-02 and No. 01-20/10075 of October 6, 1993 (Respectively) on the Procedure of Export and Delivery from the Russian Federation and Import and Delivery to the Russian Federation of the Currency of the Russian Federation

Invalidates the Regulation of the Bank of Russia, Ministry of Finance of Russia and the State Customs Committee of Russia No. 02-29/36, No. 11-05-02 and No. 01-20/10075 of October 6, 1993 on the procedure of export and delivery from the Russian Federation and import and delivery to the Russian Federation of the currency of the Russian Federation.

The Direction is entered into force 10 days after the day of its official publication.

The text of the Direction has been published in the Herald of the Bank of Russia on July 7, 2004, No. 39.

Direction of the Central Bank of Russia, State Customs Committee of the Russian Federation No. 1462-U, 01-10/10 of June 29, 2004 on the Invalidation of Individual Normative Legal Acts

Invalidates the Regulation of the Bank of Russia and the State Customs Committee of Russia No. 13 of April 19, 1993 and No. 01-20/3371 of April 14, 1993 on the procedure of import to the Russian Federation and export from the Russian Federation of foreign currencies and securities in foreign currencies by the authorised banks and the Regulation of the Bank of Russia and the State Customs Committee of Russia No. 324 of September 5, 1996 and No. 01-23/16099 of September 4, 1996 on the procedure of information exchange and submission of documents when importing, exporting and delivering the currency of the Russian Federation.

The Direction is entered into force 10 days after the day of its official publication.

The text of the Direction has been published in the Herald of the Bank of Russia on July 7, 2004, No. 39.

Direction of the Central Bank of Russia, Ministry of Finance of the Russian Federation No. 1460-U, 54n of June 29, 2004 on the Invalidation of Some of the Normative Acts

Invalidates the Letter of the Bank of Russia and the Ministry of Finance of Russia No. 124 of December 7, 1994 and No. 160 of December 6, 1994 on the import to the Russian Federation by the authorised banks of traveller's cheques of foreign issuers and the Letter of the Bank of Russia and the Federal Service of Russia for Currency and Export Control No. 29-T and No. 01-26/183 of January 19, 1999 on the additional measures to enhance control over observation of the procedure of obligatory sale of the export currency receipts received in the Russian Federation.

The Direction is entered into force 10 days after its official publication. The text of the Direction has been published in the Herald of the Bank of Russia No. 39 of July 7, 2004.

Telegram of the Central Bank of Russia No. 75-T of July 2, 2004

Fixes the rouble equivalents of the registered capital for the created banks regardless of the share of participation of foreign capital in them (at least Rbl 176,457,500), for the created non-bank credit organisations (at least Rbl 17,654,750), own resources (capital) for the operating credit organisations requesting the general license for bank operations (at least Rbl 176,457,500) and for non-bank credit organisations requesting the status of a bank (at least Rbl 176,457,500) for the III quarter of 2004.

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