Monitoring of the Federal Legislation dated 7.11.2005

Federal Law No. 137-FZ of November 4, 2005 on the Amendments to Some of the Legislative Acts of the Russian Federation and Invalidation of Certain Provisions of the Legislative Acts of the Russian Federation in View of Implementation of the Measures of Improvement of Administrative Procedures of Regulation of Disputes

Amendments introduced to the Tax Code and the Federal Law on obligatory pension insurance in the Russian Federation are known as revoking from January 1, 2006 presumption of innocence of taxpayers. The tax bodies shall get the right of direct debiting of minor fines (up to Rbl 5,000 from independent entrepreneurs, Rbl 50,000 from organisations) from debtor accounts without the court ruling.

The mentioned changes will permit to lift the load from and optimise the work of the judicial system of the Russian Federation owing to partial abandoning of procedures and rules whereby the bodies of public power could implement much of their authority only through the court, while administrative procedures could be used to implement it.

The earlier submitted and not processed by the arbitration court as of the day of entry into force of the Federal Law requests for collection of obligatory payments and amounts of fines falling under the Federal Law must be processed in compliance with the Code of Administrative Procedures of the Russian Federation.

The Federal Law is entered into force from January 1, 2006, however, no sooner than one month after the day of its official publication.

Federal Law No. 136-FZ of November 3, 2005 on the Ratification of the Consular Convention between the Russian Federation and Romania

Ratifies the Consular Convention singed in Moscow on July 4, 2003. The Convention specifies general provisions pertaining to consular relations between the two countries, defines the priorities, privileges and immunities of the consular institutions, staff consular officials and other employees of the consular institution, as well as the regime applied to honoured consular officials and the consular institutions headed by them.

Federal Law No. 135-FZ of November 3, 2005 on the Ratification of the Consular Convention between the Russian Federation and the Kingdom of Belgium

Ratifies the Consular Convention signed in Moscow on December 22, 2004. The convention specifies the procedure of opening of a consular institution, appointment of consular officials, defines their rights, privileges and immunities, consular functions and other issues of bilateral consular relations.

Federal Law No. 134-FZ of November 3, 2005 on the Ratification of the Consular Convention between the Russian Federation and the Republic of Macedonia

Ratifies the Consular Convention signed in Moscow on January 14, 2003. The convention is aimed at enhancing the contractual and legal basis of bilateral consular relations.

Order of the Ministry of Finance of the Russian Federation No. 132-n of October 25, 2005 on the Creation of the Interagency Commission for the Combating of Legalisation (Laundering) of Incomes Obtained in a Criminal Way and Financing of Terrorism

The Interagency Commission shall be a permanent coordinating body formed to provide for coordinated actions of interested federal bodies of executive power and the Bank of Russia in the sphere of combating of legalisation (laundering) of incomes obtained in a criminal way and financing of terrorism.

The Commission shall implement broad functions, in particular, prepare information, analytic, methodology materials and forecasts for the purpose of current monitoring of efficiency of countermeasures against legalisation (laundering) of incomes obtained in a criminal way and financing of terrorism.

The Chairman of the Commission ex officio is the head of the Federal Service for Financial Monitoring. Authority of the Chairman of the Commission, Executive Secretary and members of the Commission is defined.

Registered in the Ministry of Justice of the Russian Federation on November 2, 2005. Reg. No. 7136.

Direction of the Central Bank of Russia No. 1624-U of October 4, 2005 on the Amendments to the Instruction of the Bank of Russia No. 109-I of January 14, 2004 on the Procedure of Adoption of the Decision of the State Registration of Credit Organisations by the Bank of Russia and Issue of Licenses for Bank Operations

Refines the list of documents submitted by the credit organisation for its state registration and obtaining the license for bank operations pertaining to guards, fire safety and other alarm devices and the level of technical outfit of rooms for operations with values. Envisages submission of a number of additional documents if the cash of the credit organisation is insured for the amount of the minimum permissible residue of cash in the cash department. In the cases of such insurance of cash and coordination with the insurance organisation of the requirements to the technical strength of the rooms for operations with values, there is not need for the territorial institution of the Bank of Russia to control during their checks compliance of the technical strength of such rooms with the requirements specified in Appendix 1 to the Regulation of the Bank of Russia No. 199-P.

Credit and cash offices may carry out individual types of operations with foreign currencies in cash and checks as specified for exchange offices.

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

Registered in the Ministry of Justice of the Russian Federation on November 1, 2005. Reg. No. 7127.