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 8.12.2003

Ruling of the Constitutional Court of the Russian Federation No. 389-O of October 16, 2003 on the Refusal to Accept for Consideration the Appeal of Citizen V.F.Starokozhev against Violation of His Constitutional Rights by Paragraph 3 of Article 11 of the Patent Law of the Russian Federation

The applicant challenged the norm of the Patent Law of the Russian Federation stating that a scientific investigation or experiment on a patent-protected device containing an invention, useful model or industrial prototype are not regarded as a violation of the exclusive right of the patent holder. According to the applicant, the practice of the courts of general jurisdiction contradicts Article 44 of the Constitution of the Russian Federation on the legal protection of intellectual property since it permits to obtain profit (incomes) by persons carrying out scientific experiments or research on a device containing an invention.
According to the Constitutional Court of the Russian Federation, the challenged norm does not imply economic use of the patent-protected invention by third parties in the course of a scientific experiment on a device containing an invention.

Decision of the Government of the Russian Federation No. 731 of December 4, 2003 on the Validity till January 1, 2006 of the Passports of the Citizen of the USSR of 1974 for Certain Categories of Foreign Citizens and Stateless Persons

Prolongs till January 1, 2006 the validity of the passport of the citizen of the USSR of 1974 serving as a personal identification document for the foreign citizens possessing the citizenship of the USSR, having arrived to the Russian Federation from the former USSR states and registered at the place of residence in the Russian Federation as of July 1, 2002 for permanent living in the Russian Federation.
Besides, the mentioned passports are recognised as valid for stateless persons possessing the citizenship of the USSR and having arrived to the Russian Federation from the former USSR states registered as of November 1, 2002 or having received the temporary residence permission in the Russian Federation for stay, temporary or permanent living in the Russian Federation.

Decision of the Government of the Russian Federation No. 730 of December 2, 2003 on Additional Measures to Arrange the Management of the Resources of Accumulated Pensions

Endorses the typical contract for the services of a specialised depositary for the resources of accumulated pensions of the insured persons failing to enjoy the right of choice of the investment portfolio (management company) or of a non-state pension fund. Also provides the form of the typical contract of trust management of the resources of accumulated pensions concluded between the Pension Fund of Russia and the state management company.
Effective period of the contract of trust management of the resources of accumulated pensions concluded by the Pension Fund of Russia with the Foreign Trade Bank makes 5 years. Till January 1, 2005, the reward paid out to the Foreign Trade Bank under the contact of trust management of the resources of accumulated pensions makes 10% of the incomes obtained from investing the resources of accumulated pensions received by the state management company for the reported year.

Operative Direction of the Central Bank of Russia No. 165-T of November 27, 2003 on the Form of the Agreement on the Execution by the Clearing Centre of the Organised Securities Market of the Functions of the Authorised Clearing Centre of the Organised Securities Market When Clearing Payments in Deposit Transactions Conducted by the Bank of Russia with Credit Organisations Using the Electronic Tender System of the Moscow Interbank Currency Exchange

Provides the form of the agreement suggested for conclusion by a territorial institution of the Bank of Russia at the place of opening of correspondent accounts of clearing centres of the organised securities market (except for the Moscow Territorial Directorate of the Bank of Russia) to the clearing centres of the organised securities market (except for the Clearing Chamber of the Moscow Interbank Currency Exchange).

Operative Direction of the Central Bank of Russia No. 166-T of November 27, 2003 on the Form of the General Deposit Agreement on the Deposit Transactions Conducted in the Currency of the Russian Federation Using the Electronic Tender System of the Moscow Interbank Currency Exchange

Operative Direction of the Central Bank of Russia No. 166-T of November 27, 2003 on the Form of the General Deposit Agreement on the Deposit Transactions Conducted in the Currency of the Russian Federation Using the Electronic Tender System of the Moscow Interbank Currency Exchange

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