Monitoring of the Federal Legislation dated 11.02.2004

Decision of the Government of the Russian Federation No. 61 of February 7, 2004 on the Rates of Import Customs Duties for Fifth-Wheel Tractors and Motor Transport Vehicles

The rate of the import customs duty for fifth-wheel tractors and motor transport vehicles fixed in the amount of 5% of the customs cost shall be applied from January 15, 2004 on the permanent basis.

Decision of the Government of the Russian Federation No. 56 of February 6, 2004 on the General Rules of Preparation, Organisation and Holding of the Meetings of Creditors and Sessions of Committees of Creditors by the Bankruptcy Commissioners

The bankruptcy commissioner shall present for consideration by the meeting of creditors materials on the financial standing, debtor bankruptcy procedures and other materials permitting to adopt decisions on the issues of the agenda. The protocol of the meeting of creditors is drawn up in duplicate and is signed by the bankruptcy commissioner. One copy of the protocol is sent by the bankruptcy commissioner to the court within 5 days from the date of the meeting of creditors. If the meeting of creditors is arranged by the person demanding its convocation, the protocol of the meeting of creditors is drawn up in triplicate, with the first copy being sent to the court, the second - to the bankruptcy commissioner no later than within 5 days from the date of the meeting of creditors, and the third copy preserved with the person having arranged the meeting.

Decision of the Government of the Russian Federation No. 55 of February 6, 2004 on the Endorsement of the Rules of Handing over of Accumulated Pensions Financing the Accumulated Part of the Labour Pension from One Non-State Pension Fund to Another Non-State Pension Fund or from a Non-State Pension Fund to the Pension Fund of the Russian Federation and Determination of Their Cost

Defines the rules of handing over of accumulated pensions financing the accumulated part of the labour pension from one non-state pension fund to another non-state pension fund or from the fund to the Pension Fund of the Russian Federation, procedure of determination of their cost, as well as the procedure of notification of the insured of the available reasons of transfer of accumulated pensions.

When handing over the accumulated pensions, the fund shall be obliged to hand out (send by mail) to the insured an excerpt of the condition of his pension account certified with the signature of the official in charge and the seal indicating the amount to be transferred, as well as to take measures to secure the accumulated pensions due for transfer.

Order of the Ministry of Taxation of the Russian Federation No. VG-3-22/77@ of January 8, 2004 on the Endorsement of the Form of the Application of the Registration of the Object (Objects) of Taxation for the Gambling Tax

Endorses Form 29-1 "Application for the Registration of the Object (Objects) of Taxation for the Gambling Tax". The taxpayer must register in the tax body at the place of his registration as a taxpayer each object of taxation no later than two working days in advance of the date of installation of each object of taxation.

Registered in the Ministry of Justice of the Russian Federation on February 6, 2004. Reg. No. 5533.

Order of the Ministry of Agriculture of the Russian Federation No. 40 of January 22, 2004 on the Endorsement of the List of Free Services Provided by the State Plant Quarantine Service of the Russian Federation

The list includes 18 services provided by the State Plant Quarantine Service of the Russian Federation free of charge. In particular, the mentioned Service shall define free of charge the quarantine phytosanitary condition of the products subject to quarantine measures in the luggage and belongings of passengers, in postal dispatches and shall draw up phytosanitary documentation. Besides, it shall provide free advice on the issues of revealing of quarantine objects and measures to combat them, the rules and norms of ensuring plant quarantine at import, export, production, transportation, use, storage, sale of the products subject to quarantine measures.

Registered in the Ministry of Justice of the Russian Federation on February 6, 2004. Reg. No. 5530.

Instruction of the Central Bank of Russia No. 110-I of January 16, 2004 on the Obligatory Normatives for the Banks

Changes significantly the requirements to obligatory normatives for the banks specified in the Instruction of the Bank of Russia No. 1 of October 1, 1997 on the procedure of regulation of activities of banks.

The new Instruction does not contain now seven obligatory normatives: obligatory normatives of the maximum risk per one creditor (depositor) (Normative N8), maximum credit risk per one stock holder (participant) (Normative N9), maximum risk per one insider (Normative N10), maximum amount of attracted monetary deposits of the population (Normative N11), maximum bank obligations to non-resident banks and non-resident financial organisations (Normative N11.1), use of the bank own resources (capital) to purchase stocks (shares) of a single legal entity (Normative N12.1), risk of own bill liabilities (Normative N13) and liquidity of operations with precious metals (Normative N14).

The Instruction reduces the values of obligatory normatives: momentary liquidity (N2) from 20% to 15% and the current liquidity (N3) - from 70% to 50%.

Changes the method of estimation of the normative of sufficiency of own resources (N1). Credit requirements to the banks of the "group of developing countries" are classified according to risk groups depending on the time of placing of the monetary resources (risk group III for up to 90 calendar days, risk group IV for over 90 calendar days). Risk group IV includes credits and deposits (including those in precious metals) and other resources placed in the resident banks of the Russian Federation for up to 30 days. The given risk group has the risk coefficient figure of 50% (earlier, 70%).

The estimate of Normative N6 "Maximum Risk per One Borrower or Group of Interconnected Borrowers" besides credits provided by the bank to the borrower includes also securities of the sales and investment portfolios issued by the borrower (contractor) if they are not excluded from the capital estimate.

The Instruction specifies that estimation of obligatory normatives is carried out by the banks on the daily basis as of the end of the operative day. Territorial institutions of the Bank of Russia may request information on observation of obligatory normatives from the banks within the month. The Instruction introduces the requirement to the banks to inform the territorial institutions (together with the monthly reports) of available facts of violation of obligatory normatives during the month.

The Bank of Russia may apply measure of intervention to the banks in cases of failure to observe the obligatory normatives for the total of six and more operative days within any 30 operative days in succession.

The Instruction is entered into force from April 1, 2004.

Registered in the Ministry of Justice of the Russian Federation on February 6, 2004. Reg. No. 5529.

Direction of the Central Bank of Russia No. 1383-U of February 3, 2004 on the Procedure of Handing out and Supplies of Money for Numismatic Purposes by the Bank of Russia

Specifies the procedure of handing out by the Bank of Russia to resident credit organisations and supplies to non-resident credit organisations of money for sale at the numismatic market. The numismatic money is handed out at the sales prices of the Bank of Russia including actual expenses for production, nominal cost of coins of non-precious metals, actual expenses for the making of the souvenir package for the sets of coins, delivery expenses, as well as taxes, fees and other obligatory payments envisaged in the legislation of the Russian Federation.

The Direction is entered into force 10 days after the day of its official publication in the Herald of the Bank of Russia.

Operative Direction of the Central Bank of Russia No. 16-T of February 3, 2004 on the Recommendations on the Content and Organisation of the Web Sites of Credit Organisations in the Internet

In view of the changing of the composition of the published reports of credit organisations and bank/consolidated groups, conveys the new recommendations on the creation and organisation of representations of credit organisations in the Internet.

Thus, a credit organisation is recommended to place on the site information of accounting and financial reports for the two most recent years according to the forms provided in the Direction of the Bank of Russia No. 1270-U of April 14, 2003.

Official Report of the Deposit Insurance Agency of February 6, 2004.

The rate of insurance contributions of the banks in the Obligatory Deposit Insurance Fund is fixed in the amount of 0.15% of the estimate base for the estimated period (calendar quarter of the year).

Decision of the Higher Arbitration Court of the Russian Federation No. 12358/03 of November 19, 2003

The applicant challenged the explanation provided by the Ministry of Taxation of Russia in Item 9 of the Methodology Recommendations on the application of Chapter 26.2 "Simplified System of Taxation" of the Tax Code of the Russian Federation endorsed by the Order of the Ministry of Taxation of Russia No. BG-3-22/706 of December 10, 2002. According to the applicant, the available judicial practice does not permit the municipal unitary enterprises to calculate and pay the taxes according to the simplified system of taxation.

The Higher Arbitration Court came to the conclusion that the challenged norm does not comply with the Tax Code of the Russian Federation, since as compared to the earlier available Federal Law No. 222-FZ of December 29, 1995 on the simplified system of taxation, registration and reporting of small businesses, Chapter 26.2 of the Tax Code of the Russian Federation does not contain any mention of the fact that the simplified system of taxation is applied only to small businesses.

The challenged item is recognised as invalid inasmuch as it prevents the switching over of municipal unitary enterprises to the simplified system of taxation proceeding from the meaning attached to it by the tax bodies.

Decision of the Government of the Russian Federation No. 56 of February 6, 2004 on the General Rules of Preparation, Organisation and Holding of the Meetings of Creditors and Sessions of Committees of Creditors by the Bankruptcy Commissioners

The bankruptcy commissioner shall present for consideration by the meeting of creditors materials on the financial standing, debtor bankruptcy procedures and other materials permitting to adopt decisions on the issues of the agenda. The protocol of the meeting of creditors is drawn up in duplicate and is signed by the bankruptcy commissioner. One copy of the protocol is sent by the bankruptcy commissioner to the court within 5 days from the date of the meeting of creditors. If the meeting of creditors is arranged by the person demanding its convocation, the protocol of the meeting of creditors is drawn up in triplicate, with the first copy being sent to the court, the second - to the bankruptcy commissioner no later than within 5 days from the date of the meeting of creditors, and the third copy preserved with the person having arranged the meeting.

Decision of the Government of the Russian Federation No. 55 of February 6, 2004 on the Endorsement of the Rules of Handing over of Accumulated Pensions Financing the Accumulated Part of the Labour Pension from One Non-State Pension Fund to Another Non-State Pension Fund or from a Non-State Pension Fund to the Pension Fund of the Russian Federation and Determination of Their Cost

Defines the rules of handing over of accumulated pensions financing the accumulated part of the labour pension from one non-state pension fund to another non-state pension fund or from the fund to the Pension Fund of the Russian Federation, procedure of determination of their cost, as well as the procedure of notification of the insured of the available reasons of transfer of accumulated pensions.

When handing over the accumulated pensions, the fund shall be obliged to hand out (send by mail) to the insured an excerpt of the condition of his pension account certified with the signature of the official in charge and the seal indicating the amount to be transferred, as well as to take measures to secure the accumulated pensions due for transfer.

Order of the Ministry of Taxation of the Russian Federation No. VG-3-22/77@ of January 8, 2004 on the Endorsement of the Form of the Application of the Registration of the Object (Objects) of Taxation for the Gambling Tax

Endorses Form 29-1 "Application for the Registration of the Object (Objects) of Taxation for the Gambling Tax". The taxpayer must register in the tax body at the place of his registration as a taxpayer each object of taxation no later than two working days in advance of the date of installation of each object of taxation.

Registered in the Ministry of Justice of the Russian Federation on February 6, 2004. Reg. No. 5533.

Order of the Ministry of Agriculture of the Russian Federation No. 40 of January 22, 2004 on the Endorsement of the List of Free Services Provided by the State Plant Quarantine Service of the Russian Federation

The list includes 18 services provided by the State Plant Quarantine Service of the Russian Federation free of charge. In particular, the mentioned Service shall define free of charge the quarantine phytosanitary condition of the products subject to quarantine measures in the luggage and belongings of passengers, in postal dispatches and shall draw up phytosanitary documentation. Besides, it shall provide free advice on the issues of revealing of quarantine objects and measures to combat them, the rules and norms of ensuring plant quarantine at import, export, production, transportation, use, storage, sale of the products subject to quarantine measures.

Registered in the Ministry of Justice of the Russian Federation on February 6, 2004. Reg. No. 5530.

Instruction of the Central Bank of Russia No. 110-I of January 16, 2004 on the Obligatory Normatives for the Banks

Changes significantly the requirements to obligatory normatives for the banks specified in the Instruction of the Bank of Russia No. 1 of October 1, 1997 on the procedure of regulation of activities of banks.

The new Instruction does not contain now seven obligatory normatives: obligatory normatives of the maximum risk per one creditor (depositor) (Normative N8), maximum credit risk per one stock holder (participant) (Normative N9), maximum risk per one insider (Normative N10), maximum amount of attracted monetary deposits of the population (Normative N11), maximum bank obligations to non-resident banks and non-resident financial organisations (Normative N11.1), use of the bank own resources (capital) to purchase stocks (shares) of a single legal entity (Normative N12.1), risk of own bill liabilities (Normative N13) and liquidity of operations with precious metals (Normative N14).

The Instruction reduces the values of obligatory normatives: momentary liquidity (N2) from 20% to 15% and the current liquidity (N3) - from 70% to 50%.

Changes the method of estimation of the normative of sufficiency of own resources (N1). Credit requirements to the banks of the "group of developing countries" are classified according to risk groups depending on the time of placing of the monetary resources (risk group III for up to 90 calendar days, risk group IV for over 90 calendar days). Risk group IV includes credits and deposits (including those in precious metals) and other resources placed in the resident banks of the Russian Federation for up to 30 days. The given risk group has the risk coefficient figure of 50% (earlier, 70%).

The estimate of Normative N6 "Maximum Risk per One Borrower or Group of Interconnected Borrowers" besides credits provided by the bank to the borrower includes also securities of the sales and investment portfolios issued by the borrower (contractor) if they are not excluded from the capital estimate.

The Instruction specifies that estimation of obligatory normatives is carried out by the banks on the daily basis as of the end of the operative day. Territorial institutions of the Bank of Russia may request information on observation of obligatory normatives from the banks within the month. The Instruction introduces the requirement to the banks to inform the territorial institutions (together with the monthly reports) of available facts of violation of obligatory normatives during the month.

The Bank of Russia may apply measure of intervention to the banks in cases of failure to observe the obligatory normatives for the total of six and more operative days within any 30 operative days in succession.

The Instruction is entered into force from April 1, 2004.

Registered in the Ministry of Justice of the Russian Federation on February 6, 2004. Reg. No. 5529.

Direction of the Central Bank of Russia No. 1383-U of February 3, 2004 on the Procedure of Handing out and Supplies of Money for Numismatic Purposes by the Bank of Russia

Specifies the procedure of handing out by the Bank of Russia to resident credit organisations and supplies to non-resident credit organisations of money for sale at the numismatic market. The numismatic money is handed out at the sales prices of the Bank of Russia including actual expenses for production, nominal cost of coins of non-precious metals, actual expenses for the making of the souvenir package for the sets of coins, delivery expenses, as well as taxes, fees and other obligatory payments envisaged in the legislation of the Russian Federation.

The Direction is entered into force 10 days after the day of its official publication in the Herald of the Bank of Russia.

Operative Direction of the Central Bank of Russia No. 16-T of February 3, 2004 on the Recommendations on the Content and Organisation of the Web Sites of Credit Organisations in the Internet

In view of the changing of the composition of the published reports of credit organisations and bank/consolidated groups, conveys the new recommendations on the creation and organisation of representations of credit organisations in the Internet.

Thus, a credit organisation is recommended to place on the site information of accounting and financial reports for the two most recent years according to the forms provided in the Direction of the Bank of Russia No. 1270-U of April 14, 2003.

Official Report of the Deposit Insurance Agency of February 6, 2004.

The rate of insurance contributions of the banks in the Obligatory Deposit Insurance Fund is fixed in the amount of 0.15% of the estimate base for the estimated period (calendar quarter of the year).

Decision of the Higher Arbitration Court of the Russian Federation No. 12358/03 of November 19, 2003

The applicant challenged the explanation provided by the Ministry of Taxation of Russia in Item 9 of the Methodology Recommendations on the application of Chapter 26.2 "Simplified System of Taxation" of the Tax Code of the Russian Federation endorsed by the Order of the Ministry of Taxation of Russia No. BG-3-22/706 of December 10, 2002. According to the applicant, the available judicial practice does not permit the municipal unitary enterprises to calculate and pay the taxes according to the simplified system of taxation.

The Higher Arbitration Court came to the conclusion that the challenged norm does not comply with the Tax Code of the Russian Federation, since as compared to the earlier available Federal Law No. 222-FZ of December 29, 1995 on the simplified system of taxation, registration and reporting of small businesses, Chapter 26.2 of the Tax Code of the Russian Federation does not contain any mention of the fact that the simplified system of taxation is applied only to small businesses.

The challenged item is recognised as invalid inasmuch as it prevents the switching over of municipal unitary enterprises to the simplified system of taxation proceeding from the meaning attached to it by the tax bodies.