Windfall tax for major companies to be introduced in Russia

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Daily Monitoring of the Legislation

Monitoring of the Federal Legislation dated 17.06.2002

Federal Law No. 67-FZ of June 12, 2002 on the Main Guarantees of Electoral Rights and the Right to Take Part in the Referendum for the Citizens of the Russian Federation

The new Law contains a large number of norms refining or elaborating the provisions of the earlier Federal Law, the vague and imperfect nature of which was revealed in the course of judicial practice. Refines the terminology of the law, defines in more detail the signs of election propaganda, as well as regulates more completely and consistently the issues pertaining to the preparation and arrangement of referenda in the Russian Federation.
Provides for coordination of the legislative norms pertaining to participation of public associations in elections and referenda pursuant to the adoption of the Federal Law on political parties.
The notion of election association assumes the new meaning. In the course of the federal and regional elections, election associations are implied to be only political parties and their regional divisions, and in the course of elections to the local bodies of government - also other public associations created and registered in the form of a public organization or public movement.
A number of provisions of the Law is aimed to stimulate participation of political parities in the elections of various level. In particular, election associations and election blocks having nominated candidates may enjoy additional paid and free air time, as well as additional paid and free space in publications for the purposes of carrying out their election campaign.
The Law sets forth common rules of application of combined electoral system in the course of elections to the legislative (representative) bodies of state power of the subjects of the Russian Federation.
Persons not being candidates and occupying state and municipal positions are prohibited from using the advantages of their status for the purposes of promoting this or that candidate, election association, election block. In particular, they cannot carry out election propaganda in mass media, act as trustees to candidates, election associations, election blocks and may not act as watchers.
The Law envisages the need to present to the election commission by all candidates information on incomes and their owned property. Incorrectness of information submitted by the candidate may serve as grounds to refuse his registration, revoke the registration of the candidate, list of candidates or to be removed from the list of candidates if the incorrect information is revealed after the registration of the candidate or the list of candidates.
The Federal Law is entered into force 10 days after its official publication and does not apply to legal relations emerging because of the elections and referenda appointed before its entry into force.

Federal Law No. 68-FZ of June 12, 2002 on the Amendments to Articles 16, 17, 24, 45 and 46 of the Law of the Russian Federation on the Pension Support to Persons Having Undergone Military Service, Service in the Bodies of the Ministry of Internal Affairs, Institutions and Bodies of the Criminal Execution System and Their Families

To ensure the equality of rights of some of the categories of veterans for the benefits in pensions, the provisions of the Federal Law are being brought in compliance with the new wording of the Federal Law on the veterans. The Law refines and expands the list of persons included in the veterans of the Great Patriotic War and veterans of combat operations on the territory of the USSR and territories of other states entitled for higher pensions.
The Federal Law is entered into force from January 1, 2002.

Decision of the Government of the Russian Federation No. 409 of June 12, 2002 on the Measures to Provide for the Obligatory Audit

Endorses the Rules of arranging the contest to select audit organizations to carry out obligatory annual audit of organizations with the portion of state property in the registered (common) capital amounting to at least 25%. The contest is arranged on the annual basis and is open-type.
Participation in the contests is permitted for audit organizations having the license for audit activities and meeting the requirements.
Assessment of technical and financial proposals presented by audit organizations is carried out by the contest commission created by the contest organizer and is implemented in two stages. The first stage selects not more than 5 audit organizations having received the greatest number of points being permitted for the second stage. The second stage assesses financial proposals of the selected audit organizations. The winner of the contest is assumed to be the audit organization having collected the greatest number of points according to the contest commission.

Decision of the Government of the Russian Federation No. 407 of June 12, 2002 on the Endorsement of the Rules of Registration of Insurance Contributions Included in the Estimated Pension Capital

Defines the procedure of registration of insurance contributions included in the estimated pension capital of insured persons in the system of obligatory pension insurance. The estimated pension capital is the basis for determination of the amount of the insured part of the labour pension. It is formed out of the common amount of insurance contributions and other resources allocated to finance the insured part of the labour pension and received by the insured person in the Pension Fund of the Russian Federation, as well as the pension rights in the monetary form acquired before January 1, 2002. The registration is vested in the Pension Fund of the Russian Federation.
The amount of the assigned insured part of the labour pension is to be corrected from July 1 of the year following the year when the labour pension was assigned.
The rules are entered into force from January 1, 2002.

Decision of the Government of the Russian Federation No. 408 of June 12, 2002 on the Procedure of Issue of the Pension Book of the Insured Person in the Pension Fund of the Russian Federation

The pension book of the insured person serves to register information on the condition of the special part of the personal account of the insured person in the Pension Fund of the Russian Federation.
The pension book and the extract from the personal account are handed out by the territorial body of the Pension Fund of the Russian Federation against the personal identification document and the insurance certificate of the state pension support. In this case, the insured person submits application of the transfer of the monetary resources to the non-state pension fund in the amount equivalent to the accumulated pension. The book and the extract are certified with the seal of the issuing territorial body of the Fund and are issued within 10 days from the moment of submission of the mentioned documents.

Decision of the Federal Commission for Securities Market No. 13/ps of April 22, 2002 on the Particulars of Registration in the Register System of the Pawn of the Registered Emission Securities and Introduction of Changes to the Register System Pertaining to the Transfer of the Rights for the Registered Emission Securities in Pawn

Defines the particulars of the mechanism of pawning of registered emission securities. Defines more accurately the actions of all interested parties, the terms of use of the securities in pawn and the right for income from them. Lists additional terms of the pawn and defines the actions of the recorder if such terms are not available. Also reflects the issues of the rights cession procedure for the securities in pawn and procedure of their transfer in subsequent pawn. Defines the mechanism of the transfer of the rights of ownership for these securities in case of a deal if the claims of the pawnee are being satisfied out of court.
Registered in the Ministry of Justice of the Russian Federation on June 10, 2002. Reg. No. 3509.

Order of the Ministry of Taxation of the Russian Federation No. BG-3-07/241 of May 6, 2002 on the Implementation by the Ministry of Taxation of the Russian Federation of the Function of Licensing of Production and Distribution of Ethyl Alcohol, Alcoholic and Alcohol-Containing Products

Sets froth the uniform procedure of organization of work of the Ministry of Taxation of the Russian Federation in the implementation of the licensing of activities in the sphere of production and distribution of ethyl alcohol, alcoholic and alcohol-containing products. The Ministry of Taxation of the Russian Federation adopts decisions on the issue, refusal to issue, prolongation, redrawing, suspension, renewal, revocation of the licenses, issue of the temporary permission for the right of storage and sale of the residues of ethyl alcohol, alcoholic and alcohol-containing products, changing the licenses being in effect and on lawsuits to revoke the licenses.
The Order provides the forms of documents submitted by legal entities to the tax body at the place of state registration to get the license.

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