Monitoring of the Federal Legislation dated 2.06.2003

Federal Law No. 63-FZ of May 28, 2003 on the Parts of Mineral Reserves with the Right of Use Being Granted on Product-Sharing Terms (Natalkinskoye Gold Ore Deposit)

Natalkinskoye Gold Ore Deposit located on the territory of the Magadan Province is included in list of the parts of mineral reserves which, beginning with the day of entry into force of the present Federal Law, may become the object of negotiations and agreements on surveys, prospecting and extraction of mineral resources on product-sharing terms.
The Federal Law is entered into force from the day of its official publication.

Budget Message of the President of the Russian Federation to the Federal Assembly of the Russian Federation of May 30, 2003 on the Budget Policy in 2004

Summarises the main results of the budget policy in 2002 and the beginning of 2003. Among the main problems requiring solution are shortcomings of the tax system, complexity of taxation, incomes base of the federal budget being formed at the expense of the extraction and export of raw materials, quality of introduced in the State Duma and adopted tax laws.
Lists the main tasks of the budget policy for the year 2004 and medium-term perspective. One of the directions of the tax policy is the further reduction of the tax burden, first and foremost in the processing industries and in the service sphere, thus suggesting to reduce in 2004 from 20% to 18% the total value added tax rate and in 2005, the effective uniform social tax rate simultaneously with the measures in the sphere of pension, medical and social insurance.
Also provides the directions to increase the efficiency of budget expenses and suggestions to improve interbudget relations.

Decision of the Government of the Russian Federation No. 311 of May 29, 2003 on the Procedure of Registration, Assessment and Disposal of the Property Converted in State Ownership

Defines the procedure of registration, assessment and disposal of converted in the ownership of the Russian Federation confiscated, movable unowned and exacted property, commodities which, when moved across the customs border of the Russian Federation, were declared as refused in favour of the state, and buried treasures.
The handing over of the property converted in state ownership is carried out using the act of acceptance and transfer signed by the authorised person of the state body (organisation) possessing such property and the authorised person of the Russian Federal Property Fund (its division) or appropriate federal body of executive power, or the act of transfer drawn up by the tipstaff.
The Russian Federal Property Fund (its division) shall provide for the handling of the handed over property converted in the state ownership, and if the sale of this property is impossible because of the loss of consumer properties, its utilisation (destruction).

Letter of the Ministry of Finance of the Russian Federation No. 3-11-08/34 of March 21, 2003

Explains the procedure of application of the act of acceptance and transfer of fixed assets in budget-supported institutions. Budget-supported institutions must use OS-1budg document form "Act of Acceptance and Transfer of Fixed Assets in Budget-Supported Institutions" (OKUD code 0504101) instead of the OS-1 document form "Act (Way-Bill) of Acceptance and Transfer of Fixed Assets" (OKUD code 0306001). OS-1budg form is used by budget-supported institutions to register the acceptance of fixed assets from other institutions, organisations and transfer of the objects of fixed assets to other institutions, organisations, as well as to register acceptance (transfer) operations in accounting work in budget-supported institutions. The act is drawn up in two copies, endorsed by the head of the (sender) institutions, organisation and the head of the (recipient) institution, with the first copy remaining in the institution accepting the object of fixed assets on their balance, and the second being handed over to the (se nder) institution, organisation. Since the objects of fixed assets are registered with the budget-supported institutions on operative management terms, the issues of acceptance and transfer of these fixed assets must be coordinated with the owner of the property on whose behalf its territorial bodies act in compliance with the Regulation on the Ministry of Property Relations of the Russian Federation.