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Monitoring of the Federal Legislation dated 29.11.2006
Decision of the Government of the Russian Federation No. 710 of November 22, 2006 on the Amendments to the Rules of Keeping of the Joint State Register of Rights for Immovable Property and Transactions with It
The amendments improve the procedure of registration, including a fuller protection of civil rights and legal interests of participants of the market of immovable property in compliance with the actual legislation.
In particular, the amendments take account of the procedure of entry of records in pursuance of the Federal Law No. 93-FZ of June 30, 2006 on the amendments to some of the legislative acts of the Russian Federation on the simplified procedure of registration of rights of citizens for individual objects of immovable property permitting notaries to act as applicants for the state registration of the right when they certify the transaction or another notary action.
Amendments are introduced in the procedure of entry of records at the registration of rights for objects forming part of the common property in an apartment house in compliance with provisions of the new Housing Code having excluded provisions on condominiums and included provisions on apartment houses.
Pursuant to the requirements of the Federal Law No. 214-FZ of December 30, 2004 on participation in shared construction of apartment houses and other objects of immovable property and on the amendments to some of the legislative acts of the Russian Federation, the rules are extended to include the norms pertaining to registration of rights for objects of shared construction.
The Decision refines the procedure of drawing up of the list of sections of the register including the additional sheets. Takes account of the interests of holders of rights in the presence of encumbrances pertaining to the emerged proprietary right. Special notes are used to enter records of incapacitated citizens, family members living together with the owner of the dwelling space, family members under guardianship or the underage having found themselves without parental support.
The Decision envisages the procedure of keeping of records for registration of the right of economic management or operative control for the state- or municipally-owned immovable property in cases of absence in the Joint State Register of Rights of the appropriate record of registration of the proprietary right, as well as the procedure of keeping of records pertaining to objects of unfinished construction, objects with different number of storeys, complicated objects, and for the registration of the right of common shared property for the land plot out of lands of agricultural destination.
The Decision also takes account of the procedure of entry of records for the registration of the rights for immovable property forming part of the shared investment fund, as well as the particulars of entry of records for the registration of the pledging of immovable property to secure the claims forming the mortgage coverage where the share in the common property is certified with the mortgage certificate of participation.
The rules are extended to include provisions pertaining to endorsement of records entered in the register by the recorder. Each record is certified with the signature of the recorder indicating his name and initials and the round seal rather than simply the signature of the recorder and the seal, as well as the date when the record is entered. When certifying the registration of rights and transactions, the records in the registration stamp on the documents are certified not only with the signature of the recorder as before, but also with the round seal.
In particular, the amendments take account of the procedure of entry of records in pursuance of the Federal Law No. 93-FZ of June 30, 2006 on the amendments to some of the legislative acts of the Russian Federation on the simplified procedure of registration of rights of citizens for individual objects of immovable property permitting notaries to act as applicants for the state registration of the right when they certify the transaction or another notary action.
Amendments are introduced in the procedure of entry of records at the registration of rights for objects forming part of the common property in an apartment house in compliance with provisions of the new Housing Code having excluded provisions on condominiums and included provisions on apartment houses.
Pursuant to the requirements of the Federal Law No. 214-FZ of December 30, 2004 on participation in shared construction of apartment houses and other objects of immovable property and on the amendments to some of the legislative acts of the Russian Federation, the rules are extended to include the norms pertaining to registration of rights for objects of shared construction.
The Decision refines the procedure of drawing up of the list of sections of the register including the additional sheets. Takes account of the interests of holders of rights in the presence of encumbrances pertaining to the emerged proprietary right. Special notes are used to enter records of incapacitated citizens, family members living together with the owner of the dwelling space, family members under guardianship or the underage having found themselves without parental support.
The Decision envisages the procedure of keeping of records for registration of the right of economic management or operative control for the state- or municipally-owned immovable property in cases of absence in the Joint State Register of Rights of the appropriate record of registration of the proprietary right, as well as the procedure of keeping of records pertaining to objects of unfinished construction, objects with different number of storeys, complicated objects, and for the registration of the right of common shared property for the land plot out of lands of agricultural destination.
The Decision also takes account of the procedure of entry of records for the registration of the rights for immovable property forming part of the shared investment fund, as well as the particulars of entry of records for the registration of the pledging of immovable property to secure the claims forming the mortgage coverage where the share in the common property is certified with the mortgage certificate of participation.
The rules are extended to include provisions pertaining to endorsement of records entered in the register by the recorder. Each record is certified with the signature of the recorder indicating his name and initials and the round seal rather than simply the signature of the recorder and the seal, as well as the date when the record is entered. When certifying the registration of rights and transactions, the records in the registration stamp on the documents are certified not only with the signature of the recorder as before, but also with the round seal.
Order of the Federal Service for Financial Markets No. 06-117/pz-n of October 10, 2006 on the Endorsement of the Regulation on the Information Disclosed by Issuers of Emission Securities
Regulates the composition, procedure and time limits of obligatory disclosing of information by the joint-stock company, disclosing of information at the stages of issue of emission securities, disclosing of information in the form of prospectus of securities, quarterly report of the issuer of securities and the reports of significant facts pertaining to financial and economic activities of the issuer, as well as specifies the requirements to the procedure of disclosing by issuers of other information of execution of issuer obligations and implementation of rights for the placed securities.
The Regulation applies to all issuers, including the foreign ones and international financial organisations whose securities are placed and/or are in circulation in the Russian Federation, except for the Central Bank of the Russian Federation and issuers of state and municipal securities.
Innovations include another procedure and time limits for publication of information at the stages of issue of securities. Thus, publication of information in the printed source remains obligatory at the stage of the state registration of the issue (additional issue) of securities. At the stage of decision taking to place, endorsement of the decision on the issue (additional issue), the information is published in the newsreel no later than 1 days after, and on the Internet page no later than 2 days after (earlier, 3 days after).
The Order also specifies the procedure of disclosing of information at the stages of issue of exchange-traded bonds, disclosing of information if there appears a stock-holder possessing at least 5% of ordinary stocks, as well as of any change when the share of ordinary stocks owned by a stock-holder becomes greater or lower than 5%, 10%, 15%, 20%, 25%, 30%, 50% or 75% of the placed ordinary stocks of the issuer.
The Order invalidates the Regulation on the information disclosed by issuers of emission securities endorsed by the Order of the Federal Service for Financial Markets of Russia No. 05-5/pz-n of March 16, 2005 and the Orders of the Federal Service for Financial Markets having amended it.
Registered in the Ministry of Justice of the Russian Federation on November 27, 2006. Reg. No. 8532.
The Regulation applies to all issuers, including the foreign ones and international financial organisations whose securities are placed and/or are in circulation in the Russian Federation, except for the Central Bank of the Russian Federation and issuers of state and municipal securities.
Innovations include another procedure and time limits for publication of information at the stages of issue of securities. Thus, publication of information in the printed source remains obligatory at the stage of the state registration of the issue (additional issue) of securities. At the stage of decision taking to place, endorsement of the decision on the issue (additional issue), the information is published in the newsreel no later than 1 days after, and on the Internet page no later than 2 days after (earlier, 3 days after).
The Order also specifies the procedure of disclosing of information at the stages of issue of exchange-traded bonds, disclosing of information if there appears a stock-holder possessing at least 5% of ordinary stocks, as well as of any change when the share of ordinary stocks owned by a stock-holder becomes greater or lower than 5%, 10%, 15%, 20%, 25%, 30%, 50% or 75% of the placed ordinary stocks of the issuer.
The Order invalidates the Regulation on the information disclosed by issuers of emission securities endorsed by the Order of the Federal Service for Financial Markets of Russia No. 05-5/pz-n of March 16, 2005 and the Orders of the Federal Service for Financial Markets having amended it.
Registered in the Ministry of Justice of the Russian Federation on November 27, 2006. Reg. No. 8532.
Letter of the Department of the Tax and Customs Tariff Policy of the Ministry of Finance of the Russian Federation No. 03-05-01-05/254 of November 17, 206
In the determination of the taxable base for the incomes tax from natural persons, the taxpayer is entitled for the property tax exemption in the amounts received during the tax period from the sale of dwelling homes, flats, land plots and shares in the mentioned property possessed by the taxpayer for less than 3 years, however, not greater than Rbl 1,000,000 on the whole. In this case privatised rooms in communal flats may be qualified as dwelling space the sale of which is covered by the tax exemption.
The Tax Code does not contain any restrictions pertaining to the repeated granting of the tax exemption for the sale of property that belonged to the taxpayer.
In the determination of the taxable base, the taxpayer is also entitled for the property tax exemption in the amount spent for the new construction or purchase of a dwelling home on the territory of the Russian Federation, flat or share (shares) in them. The list of objects covered by the mentioned exemption is closed and the rooms in a communal flat are not included in it.
According to the amendments to the Tax Code, from January 1, 2007, the rooms are included in the list of objects of immovable property the sale or purchase of which is covered by the property tax exemption. The appropriate provision will apply to transactions of purchase of dwelling space where expenses are made after January 1, 2007.
The Tax Code does not contain any restrictions pertaining to the repeated granting of the tax exemption for the sale of property that belonged to the taxpayer.
In the determination of the taxable base, the taxpayer is also entitled for the property tax exemption in the amount spent for the new construction or purchase of a dwelling home on the territory of the Russian Federation, flat or share (shares) in them. The list of objects covered by the mentioned exemption is closed and the rooms in a communal flat are not included in it.
According to the amendments to the Tax Code, from January 1, 2007, the rooms are included in the list of objects of immovable property the sale or purchase of which is covered by the property tax exemption. The appropriate provision will apply to transactions of purchase of dwelling space where expenses are made after January 1, 2007.
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