Windfall tax for major companies to be introduced in Russia

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Monitoring of the Federal Legislation dated 21.08.2002

Decision of the Government of the Russian Federation No. 613 of August 16, 2002 on the Endorsement of the Regulation on the Licensing of Maintenance of Medical Equipment (Except for the Cases When the Mentioned Activities Are Carried Out to Provide for Own Needs of the Legal Entity or Natural Person)

Defines the procedure of licensing of maintenance of medical equipment carried out by legal entities or independent entrepreneurs except for the cases when such activities are carried out to provide for own needs.
The licensing is vested in the Ministry of Industry and Science of the Russian Federation.
The license is granted for 5 years.

Decision of the Government of the Russian Federation No. 612 of August 16, 2002 on the Endorsement of the Regulation on the Licensing of Production of Medical Equipment

Defines the procedure of licensing of production of medical equipment carried out by legal entities and independent entrepreneurs. The licensing is vested in the Ministry of Industry and Science of the Russian Federation.
The license is granted for 5 years.

Decision of the Federal Commission for Securities Market No. 22/ps of July 3, 2002 on the Suspension of Issue, Redemption and Exchange of Investment Shares of the Shared Investment Funds

The managing company of the shared investment fund (hereinafter, SIF) may suspend simultaneously the issue, redemption and exchange of investment shares estimated cost of which cannot be determined because of the force majeure, as well as in cases of transfer of the rights and duties of the person in charge of the keeping of the register of owners of SIF investment shares to another person.
The managing company of the open-type SIF may suspend, for not more than three days, simultaneously the issue, redemption and exchange of investment shares estimated cost of which changed by more than 10% as compared to the previous date of its determination.
The managing company must notify of the adopted decision on the suspension of the issue, redemption and exchange of investment shares of the SIF specialized depositary the person in charge of the keeping of the register of owners of investment shares and agents in charge of the issue and redemption of investment shares.
Registered in the Ministry of Justice of the Russian Federation on August 14, 2002. Reg. No. 3688.

Decision of the Federal Commission for Securities Market No. 23/ps of July 3, 2002 on the Requirements to the Time Limits for Accepting Applications for the Purchase, Redemption and Exchange of Investment Shares of the Shared Investment Funds and Procedure of Paying Out Monetary Compensation at Redemption of Investment Shares of the Closed-Type Shared Investment Fund

Applications for the purchase, redemption and exchange of investment shares of the periodic-redemption SIF after its forming must be accepted within 2 weeks. The accepting of the mentioned applications may start no sooner than two months after expiry of the previous time of accepting of applications.
Applications for redemption of investment shares of the closed-type SIF must be accepted within two weeks from the date of publication of the report of registration of the amendments to the rules of trusteeship control of the closed-type SIF. Applications in the case of the early redemption of investment shares must be accepted within two weeks from the day of expiry of the time of accepting of applications for redemption of investment shares. Applications for the purchase of investment shares of the closed-type SIF because of their growing number must be accepted no later than within two weeks from the day following the day of the publication of the report of the registration of the amendments to the rules of trusteeship control of the closed-type SIF.
Within the time of accepting of applications, they must be accepted every day except for the days-off and non-working holidays.
Monetary compensation at the redemption of the investment shares is paid out by way of its transfer to the bank account indicated in the application for the redemption of these shares or in cash.
Registered in the Ministry of Justice of the Russian Federation on August 14, 2002. Reg. No. 3689.

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