Monitoring of the Federal Legislation dated 15.05.2002

Decision of the Government of the Russian Federation No. 309 of May 13, 2002 on the Endorsement of the Regulation on the Licensing of Activities in the Rendering of Prosthesis and Orthopaedic Aid

Defines the procedure of licensing of production and selling of prosthetic appliances of various designs, orthopaedic appliances, surgical boots and other items; repair and maintenance of these items; diagnostics of the functional defects, condition of the anatomic defects and rehabilitation potential in persons needing prosthetic and orthopaedic aid and other types of activities.
The licensing is vested in the Ministry of Labour of the Russian Federation. The effective period of the license is 5 years. The earlier issued licenses preserve their force until expiry.

Decision of the Government of the Russian Federation No. 308 of May 13, 2002 on the Endorsement of the Regulation on the Licensing of Activities in Public Demonstration of Audio and Visual Pieces of Art if the Mentioned Activities Are Carried Out in a Cinema Hall

Defines the procedure of licensing of activities of legal entities and independent entrepreneurs in public demonstration of audio and visual pieces of art if the mentioned activities are carried out in a cinema hall. The cinema hall is implied to be a special room meeting the requirements of ecological, sanitary and epidemiological, hygienic and fire safety norms and rules outfitted with seats for spectators (listeners) and possessing stationary (mobile) technological equipment for public demonstration of audio and visual pieces of art. The licensing is vested in the bodies of executive power of the subjects of the Russian Federation.
The effective period of the license is 5 years. The earlier issued licenses preserve their force until expiry.

Direction of the Central Bank of Russia No. 1148-U of May 7, 2002 on the Invalidation of the Normative and Other Acts of the Bank of Russia in View of the Termination by the Bank of Russia of the Licensing of and Control over the Professional Activities of Credit Organizations at Securities Market

In view of the termination by the Bank of Russia of the licensing of and control over the professional activities of credit organizations at securities market, invalidates a number of normative acts of the Bank of Russia. In particular, invalidates the Regulation of the Central Bank of Russia No. 1-P of October 23, 1997 on the particulars of the licensing of professional activities of credit organizations at securities market of the Russian Federation.
The Direction is entered into force from the day of its official publication in the Herald of the Bank of Russia.

Direction of the Central Bank of Russia No. 1147-U of May 6, 2002 on the Amendments to the Instruction of the Bank of Russia No. 1 of October 1, 1997 on the Procedure of Regulation of Activities of Banks

The amendments are introduced pursuant to the entering into force of the Directions of the Central Bank of Russia No. 1054-U of November 20, 2001 (from April 1, 2002) and No. 1118-U of March 13, 2002 (from March 20, 2002) Changing the Rules of Accounting Work in Credit Organizations.
The Direction is entered into force from the day of publication in the Herald of the Bank of Russia.

Direction of the Central Bank of Russia No. 1144-U of April 29, 2002 on the Amendments to the Regulation of the Bank of Russia No. 51 of November 4, 1996 on the Obligatory Reserves of the Savings Bank of the Russian Federation Deposited in the Central Bank of the Russian Federation

Provides the new wording for the mentioned Regulation. Sets forth that the normatives of obligatory reserves are specified by the Board of Directors of the Bank of Russia depending on the type of monetary resources attracted by the Savings Bank of the Russian Federation. The normatives of obligatory reserves may not be greater than 20% of the obligations of the Savings Bank of the Russian Federation. Earlier, the normatives of obligatory reserves were fixed in the Regulation.
The Direction is to be published in the Herald of the Bank of Russia and is entered into force from June 1, 2002. The Direction is to be used for regulation of obligatory reserves beginning with June 1, 2002.

Decision of the Federal Commission for Securities Market No. 4/ps of March 21, 2002 on the Requirements to the Amount of Own Resources of the Managing Company of Investment Funds, Shared Investment Funds and Non-State Pension Funds

The minimum amount of own resources of the managing company of investment funds, shared investment funds and non-state pension funds is Rbl 5,000 thousand beginning with October 1, 2002.
According to the Letter of the Ministry of Justice of the Russian Federation No. 07/3375-YuD of April 9, 2002, the present Decision does not need state registration.