Monitoring of the Federal Legislation dated 8.04.2008

Information of the Central Bank of Russia of March 31, 2008 "Answers and Explanations on Some Issues of Application of the Regulation of the Bank of Russia No. 302-P of March 26, 2007 on the Rules of Accounting Work in Credit Organisations Located on the Territory of the Russian Federation and the Letter of the Bank of Russia No. 141-T of September 7, 2007 on the Registration in Accounting Work of Operations of Purchase and Sale of Securities Envisaging Their Subsequent Purchase and Buy out Obligation"

New rules of accounting work in credit organisations located on the territory of the Russian Federation have entered into force from January 1, 2008.

Order of the Federal Service for Financial Markets No. 08-7/pz-n of February 28, 2008 on the Endorsement of the List of Expenses Pertaining to Trust Control of the Property Forming the Assets of the Joint-Stock Investment Fund or the Property Forming the Shared Investment Fund

According to the Federal Law No. 334-FZ of December 6, 2007, the property of the investment fund may be used to cover only individual expenses pertaining to trust control of the property forming the assets of the joint-stock investment fund or the property forming the shared investment fund.