Monitoring of the Federal Legislation dated 12.03.2004

Federal Law No. 12-FZ of March 11, 2004 on the Amendments to Article 5 of the Federal Law on the Amendments to the Criminal Code of the Russian Federation and Article 10 of the Federal Law on the Bringing of the Code of Criminal Procedures of the Russian Federation and Other Legislative Acts in Compliance with the Federal Law on the Amendments to the Criminal Code of the Russian Federation

Prolongs the time limits for the entry into force of the new wordings of three articles of the Criminal Code of the Russian Federation pertaining to illegal purchase, storage, transportation, production, processing of narcotic substances, psychotropic substances and their analogues, as well as their illegal production, sale or sending and violation of the rules of their circulation.

The Federal Law is entered into force from the day of its official publication.

The text of the Federal Law is published in Rossiyskaya Gazeta on March 12, 2004. No. 50.

Decision of the Federal Commission for Securities Market No. 03-54/ps of December 26, 2003 on the Endorsement of the Regulation on the Activities in Organisation of Trade at Securities Market

Defines the requirements to activities in organisation of trade at securities market applying to all professional participants of the securities market engaged in activities in organisation of trade in the Russian Federation, including the stock exchanges. A legal entity engaged in activities of a stock exchange may not combine the mentioned activities with other types of activities except for the activities of the currency exchange, commodity exchange (activities in organisation of exchange trade), clearing activities pertaining to clearing operations with securities and investment shares of the shared investment funds, activities in dissemination of information, publishing activities, as well as activities in property leasing.

Lists the license requirements and the terms obligatory for the stock exchanges. Lists the documents submitted by the stock exchange to the licensing body.

Specifies that a clearing organisation engaged in clearing operations for the deals concluded at the stock exchange may use centralised clearing exclusively. Defines the particulars of the registration of the clearing participants and its clients by the clearing organisation. Also defines the clearing particulars of time deals. The clearing centre engaged in time deal clearing may not combine it with other clearing deals with securities.

Trade organisers (including the stock exchanges) and clearing organisations are ordered to bring their activities in compliance with the requirements of the Decision before July 1, 2004.

Securities included in quotation lists as of the moment of entry into force of the Decision must be removed from the appropriate lists after January 2005 if their issuers do not meet the requirements of the endorsed Decision on the activities in organisation of trade at securities market.

The Decision is entered into force 15 days after the day of its official publication with exceptions.

Registered in the Ministry of Justice of the Russian Federation on March 4, 2004. Reg. No. 5610.

Letter of the Ministry of Finance of the Russian Federation, Ministry of Taxation of the Russian Federation, Central Bank of Russia and the Federal Fund of Obligatory Medical Insurance Nos. 12-03-14, BG-15-10/133, 1389-U, 785/50-1/i of March 1, 2004 on the Non-Application of the Joint Letter of the Ministry of Finance of the Russian Federation No. 12-3-4 of December 31, 1997, State Tax Service of the Russian Federation No. AP-6-7/926 of December 31, 1997, Central Bank of the Russian Federation No. 128-U of December 31, 1997, Federal Fund of Obligatory Medical Insurance No. 5226/51 of December 19, 1997 on the Amendments to the Directions Defining the Procedure of Registration and Collection of Insurance Contributions to the State Non-Budgetary Funds of Obligatory Medical Insurance

The mentioned Letter does not apply pursuant to the entry into force of the Direction of the Bank of Russia No. 1222-U of December 16, 2002 on the numbering procedure for the personal accounts opened on the Balance Accounts 40403 "Federal Fund of Obligatory Medical Insurance" and 40404 "Territorial Funds of Obligatory Medical Insurance".

Letter of the Ministry of Public Health of the Russian Federation No. 2510/1860-04-32 of March 1, 2004 on the Tax Exemptions for the Services in Medical Treatment

The social tax exemption in the amount paid for the medical treatment is granted to the taxpayer if the treatment was provided in a medical institution possessing an appropriate license for the medical activities, as well as if the taxpayer presents the documents confirming his actual expenses for the treatment including the certificates of payment for the medical services for submission to the tax bodies of the Russian Federation.