Monitoring of the Federal Legislation dated 4.12.2001

Federal Law No. 158-FZ of November 29, 2001 on the Amendments to Article 228 of Part 2 of the Tax Code of the Russian Federation

Changes insignificantly Article 228 of the Tax Code of the Russian Federation specifying the particulars of calculation of the income tax for natural persons obtained from sale of owned property.
The Federal Law is entered into force from January 1, 2002, however, no earlier than one month after the day of its official publication.

Federal Law No. 156-FZ of November 29, 2001 on Investment Funds

Introduces uniform standards of regulation of relations in the sphere of collective investments and eliminates a number of obstacles for deployment of free monetary resources at organized capital markets.
Specifies the particulars of creation and legal status of joint-stock companies in investment sphere, the licensing of activities of joint-stock investment funds, their liquidation and other issues.
Regulates the issues of creation and operation of shared investment funds, in particular, specifies requirements to managing companies, specialized depositaries, assessors, agents deploying and buying investment shares, investment share deployment prospectuses, rules of shared investment funds, procedure of their registration, investment declaration.
Defines the procedure of deployment and buying of investment shares of shared investment funds, calculation of the cost of investment shares. Also specifies the procedure of calculation of the cost of net assets of investment funds, requirements to the composition of assets, disclosure of information on the activities of investment funds and managing companies, as well as the authority of the state body regulating the securities market in the sphere of activities of professional participants of the system of collective investments.
The Federal Law is entered into force from the day of its official publication. The text of the Federal Law is published in Rossiyskaya Gazeta on December 4, 2001, No. 238.

Decision of the State Duma of the Federal Assembly No. 2172-III GD of November 30, 2001 on the Amnesty for the Underaged and Women

Lists the persons to be dismissed within six months from the day of official publication of the Decision, in particular, the following categories of convicts sentenced to up to six years of imprisonment inclusive having not served the terms earlier in colonies or corrective institutions: convicted for the crimes committed at the age of 16 to 18 years; women with underage children, expecting mothers and other. Lists the cases of crimes committed before the Decision and processed by the bodies of inquest, bodies of preliminary investigation and courts that must be terminated.
The text of the Decision is published in Parlamentskaya Gazeta on December 1, 2001, No. 227.

Decision of the State Duma of the Federal Assembly No. 2173-III GD of November 30, 2001 on the Procedure of Application of the Decision of the State Duma of the Russian Federation on the Amnesty for the Underaged and Women

Lists the bodies in charge of the implementation of the act of amnesty. Specifies the particulars of application of the mentioned act for various categories of those pertaining.
The Decision is entered into force from the day of its official publication. The text of the Decision is published in Parlamentskaya Gazeta on December 1, 2001, No. 227.

Decision of the Government of the Russian Federation No. 834 of November 30, 2001 on the Endorsement of the Rate of Export Customs Duty for Mustard Seeds Exported from the Territory of the Russian Federation outside the Member-States of the Customs Union Agreements

Endorses the rate of export customs duty for mustard seeds (code according to the Foreign Trade Commodity Nomenclature 1207 50) amounting to 10% of the customs cost, however, not less than euro 25 per 1,000 kg. Earlier, mustard seeds were exported free.
The Decision is entered into force one month after the day of its official publication.

Decision of the Government of the Russian Federation No. 830 of November 30, 2001 on the Commodity Nomenclature Used in Foreign Trade Activities and the Customs Tariff of the Russian Federation

Endorses the new Customs Tariff of the Russian Federation - consolidated rates of import customs duties. The rates of duties will be reported additionally after publication in the special issue of Rossiyskaya Gazeta.
The Decision is entered into force from January 1, 2002.

Order of the Ministry of Finance of the Russian Federation No. 93n of November 27, 2001 on the Invalidation of Some of the Acts Issued by the State Insurance Enforcement of the Russian Federation and the Federal Service of Russia for Enforcement of Insurance Activities

Pursuant to the adoption of the new Chart of Accounts introduced from January 1, 2002, invalidates a number of normative acts from the same time. Among them are the Orders of the Federal Service of Russia for Enforcement of Insurance Activities No. 02-02/13 of July 25, 1994 on the endorsement of the Regulation on accounting work and reporting in medical insurance organizations and No. 02-02/21 of October 31, 1994 on the endorsement of the amendments to the chart of accounts of financial and economic activities of insurance organizations and the instruction for its application.