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 13.05.2003

Decision of the Government of the Russian Federation No. 265 of May 7, 2003 on the Amendments to the Acts of the Government of the Russian Federation on Issues of Obligatory Insurance of Civil Responsibility of the Owners of Transport Vehicles

The amendments are introduced in a number of acts of the Government of the Russian Federation pertaining to regulation of legal relations in the transport sphere. Thus, traffic rules envisage the duty of the driver of the transport vehicle to carry and present at the demand of the police officer insurance policy of obligatory insurance of civil responsibility.
The transport vehicle must have the special state-approved sing of obligatory insurance of the civil responsibility of its owner.
The Decision is entered into force from July 1, 2003.

Order of the Ministry of Labour of the Russian Federation No. 77 of April 9, 2003 on the Organisation of Works to License the Activities in the Rendering of Prosthetics and Orthopaedic Aid

Defines the functions and authority of the structural divisions of the Ministry of Labour of the Russian Federation and its subordinate organisations, their interaction in the licensing activities, as well as specifies the decision taking procedure in the licensing issues.
The licensing of activities in the rendering of prosthetic and orthopaedic aid is vested in the Commission of the Ministry of Labour of the Russian Federation for Licensing of Activities in the Sphere of Prosthetic and Orthopaedic Aid.

Letter of the Central Bank of Russia No. 68-T of May 5, 2003 on Conjunct Crediting

Lists the measures to be envisaged by credit organisations to restrict the risks emerging in the crediting of conjunct persons. The persons interconnected with the credit organisation are implied to be natural persons and legal entities possessing real opportunities to affect the nature of decisions on crediting and crediting terms taken by the credit organisation, as well as the persons whose decisions may be affected by the credit organisation.
The mentioned measures include provisions to be included in internal documents aimed at minimising the risks in the conjunct crediting deals, in particular, obligatory approval of such deals by the board of directors and prevention of crediting of the persons interconnected with the bank on beneficial (non-market) terms.

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