Windfall tax for major companies to be introduced in Russia

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Monitoring of the Federal Legislation dated 3.07.2003

Federal Law No. 87-FZ of June 30, 2003 on Transportation and Forwarding Activities

Defines the procedure of carrying out of transportation and forwarding activities which is implied to be the rendering of services in organisation of cargo transportation by any types of transport and drawing up of transportation documents, documents for customs purposes and other documents necessary for cargo transportation.
Specifies the rights and duties of the parties of the cargo forwarding contract, procedure of fixing remuneration to forwarders, fixes the principles of responsibility of the parties for the failure to execute of improper execution of the cargo forwarding contract, including the loss, shortage, damage to the cargo, violation of the time limits of the contract execution by the forwarder, as well as the failure to pay remuneration to the forwarder by the client.
The Federal Law is entered into force from the day of its official publication. For the earlier emerging obligations pertaining to forwarding services, the provisions of the Law shall apply to those rights and duties that emerge after its entry into force.

Decision of the Government of the Russian Federation No. 379 of June 30, 2003 on Additional Restrictions on Investment of Resources of Accumulated Pensions in Individual Classes of Assets and Determination of the Maximum Share of Individual Classes of Assets in the Investment Portfolio in Compliance with Articles 26 and 28 of the Federal Law on Investment of Resources to Finance the Accumulated Part of the Labour Pension in the Russian Federation

Lists additional cases of prohibition of investment of resources of the accumulated pension in individual classes of assets. Fixes the maximum share of classes of assets in the investment portfolio.
The shares of assets in the investment portfolio are determined in percent of the cost of the investment portfolio (in roubles) calculated proceeding from the amount of resources on accounts and deposits in credit organisations and the market cost of securities comprising the investment portfolio.

Order of the Ministry of the Railways of the Russian Federation No. 52 of June 25, 2003 on the Endorsement of the List of Cargo Permitted for Transportation by the Railway Transport in Bulk

Lists the names of the cargo and the types of the cars permitted for bulk transportation.
Registered in the Ministry of Justice of the Russian Federation on June 30, 2003. Reg. No. 4848.

Order of the Ministry of the Railways of the Russian Federation No. 51 of June 25, 2003 on the Endorsement of the List of Cargo Permitted for Transportation on the Railway Transport in Open Cars

Lists in alphabetical order the cargo permitted for transportation by the railway transport in open cars.
Registered in the Ministry of Justice of the Russian Federation on June 30, 2003. Reg. No. 4847.

Order of the Ministry of Transport of the Russian Federation No. VR-I/p of April 21, 2003 on the Endorsement of the Safety Rules of Cargo Transportation by Sea

Specifies the general requirements to the loading and unloading of vessels providing for the safety of transportation of the general cargo, including packed hazardous substances, large and heavy cargo that, because of its properties, may create a hazard to people's life and health when transported by sea, cause damage to vessels and transported cargo.
The rules apply to transportation of various single-piece cargo, metals of all kinds, mobile equipment (whether or not self-propelled, wheeled or track-laying), concrete items and structures, containers, cargo in containers, in packs, large and heavy cargo, timber.
Registered in the Ministry of Justice of the Russian Federation on June 27, 2003. Reg. No. 4835.

Decision of the Federal Commission for Securities Market No. 03-26/ps of May 21, 2003 on the Method of Calculation of Own Resources of Professional Participants of the Securities Market

From January 1, 2004 enters into force the new procedure of calculation of own resources of professional participants of the securities market. The estimate of own resources is drawn up on the basis of information of accounting reports of the organisation, information of the residues on accounts as of the date of the estimate, information of internal records of the deals of the professional participant and the documents confirming the cost of the property (liabilities) taken into account in the estimate.
When drawing up the estimate of own resources by the professional participant, additional information is disclosed using the forms envisaged in the Decision.
Registered in the Ministry of Justice of the Russian Federation on June 26, 2003. Reg. No. 4834.

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