Windfall tax for major companies to be introduced in Russia

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Monitoring of the Federal Legislation dated 11.10.2002

Federal law No. 122-FZ of October 9, 2002 On Amending the RSFSR Law On the Competition and Restriction of Monopoly Activities In Commodity Markets

The changes and amendments comprise as follows:
- the strengthening of state control over agreements and coordinated activities of business entities imposing restrictions on the competition;
- the alteration of amounts of aggregate assets in the performance of anti-monopoly control over economic concentration;
- the elaboration of provisions aimed at curbing unfair competition in the introduction in the commercial turnover of means of individualization of legal entities, goods, work and services.
In particular, it forbids business entities operating in the single commodity market (the market of interchangeable commodities) to enter into other agreements or undertake coordinated activities which have resulted or may result in the prevention, restriction, elimination of competition and the impairment of interests of other business entities.
To curb the unfair competition associated with the registration of trade marks (service marks) it introduces norms making it possible to declare activities of the trade mark owner associated with its registration and/or its use to be an act of unfair competition and submit, on that basis, decisions to the federal patent agency for examining the legitimacy of registration of a means of individualization of products (execution of work, provision of services).
It introduces a preliminary state control to be exercised by anti-monopoly bodies over the conclusion between business entities of anti-competitive agreements, especially those seeking to pursue an anti-competitive pricing policy and also to put up obstacles to the entry of competitors into the market.
The Federal law shall take effect as from its official publication.

Decision of the Government of the Russian Federation No. 748 of October 4, 2002 On the Invalidation of Decision of the Government of the Russian Federation No. 216 of April 4, 2002

It invalidates Decision of the Government of the Russian Federation prescribing the procedure for fixing an ultimate ceiling of fluctuations of the market price of work (services) involved in the mastering of natural resources associated with the geological investigation of the sub-soils, prospecting for mineral resources, conduct of operations of a preliminary nature. At present, as is provided under Article 261 of the Tax Code of the Russian Federation, the expenses of acquisition of work (services), geological and other information from third persons, including from state power bodies and also the costs of independent performance of operations involved in the mastering of natural resources shall, for purposes of taxation, be taken in the amount of actually sustained expenses.

Decision of the Government of the Russian Federation No. 747 of October 4, 2002 On Amending Decision of the Government of the Russian Federation No. 1008 of September 4, 1999

It forbids to import into the territory of the Russian Federation alcoholic products, tobacco and tobacco products infringing the relevant marking. The sale of excise stamps to carry out the marking of to-be-imported products shall be effected with due regard for the pre-set terms and restrictions as regards their turnover in the territory of the Russian Federation.

Order of the State Customs Committee of the Russian Federation No. 883 of August 22, 2002 On the Endorsement of Regulations On the Use of Means of Protection of Documents Required For Customs Purposes and of Customs Means of Identification of Goods Shifted By Motor Vehicles Under Customs Control

The customs bodies shall be entitled to use, as a means of protection of documents required for customs purposes and as customs means of identification of goods, as follows:
- imprints of seals and stamps affixed on documents used in customs clearance and customs control;
- special labels;
- special protective devices;
- placing documents required for customs purposes into cargo departments of transport vehicles.
The Order shall take effect upon the expiration of thirty days after its official publication.
Registered with the Ministry of Justice of the Russian Federation in October 7, 2002.
Registration No. 3838.

Directive of the Central Bank of Russia No. 1186-U of August 14, 2002 On the Payment of the Charter Capital of Credit Institutions By Using the Funds of Budgets of All Levels, State Extra-Budgetary Funds, Free Pecuniary Resources and Other Objects of Ownership Being Under the Competence of State Power Bodies and Bodies of Local Self-Administration

It establishes a procedure for payment of the charter capital of credit institutions by using the funds of budgets of all levels, state extra-budgetary funds, free pecuniary resources and other objects of ownership being under the competence of state power bodies and bodies of local self-administration.
The Directive shall take effect upon the expiration of 10 days after its official publication in the Bulletin of the Bank of Russia.
Registered with the Ministry of Justice of the Russian Federation in October 7, 2002. Registration No. 3837.

Order of the Ministry of Finance of the Russian Federation No. 74n of July 31, 2002 On the Organization of the Contest To Identify an Agent, Depositary and Trader Servicing the Market of Government Savings Bonds

The organizer of an open contest to identify an agent, depositary and trader servicing the market of government savings bonds is the Ministry of Finance of the Russian Federation.
The Order defines the requirements to participants in the contest and procedure for submission of documents for the contest. In particular, it establishes that participants in the contest may not include organizations which are affiliated persons in relation to the contest organizer and officials of the contest organizer incorporated as members of the contest board.
Registered with the Ministry of Justice of the Russian Federation in October 3, 2002.
Registration No. 3834.

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