Monitoring of the Federal Legislation dated 16.04.2004

Direction of the Central Bank of Russia No. 1417-U of April 1, 2004 on the Form of the Register of Bank Obligations to Depositors

Specifies the procedure of registration of bank obligations to natural person depositors when the banks attract monetary resources in deposit, the form of the register of the bank obligations to depositors and its building procedure. Bank obligations to depositors, as well as the bank cross-demands to depositors are registered in the currency of the obligation (claim). When concluding the bank deposit contract or bank account contract, the bank must obtain information of the type and details of the personal identification documents of the depositor. The Direction provides the form of the register and the excerpt from it.

At the demand of the Bank of Russia (its territorial division), the bank must provide for the building of the register of obligations as of the particular date within 7 days.

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

Registered in the Ministry of Justice of the Russian Federation on April 13, 2004. Reg. No. 5745.

Order of the State Customs Committee of the Russian Federation No. 390 of March 29, 2004 on the Places of Declaring of White Sugar and Sugar-Containing Products

Lists the customs bodies specified as the places of declaring of individual types of white sugar and sugar-containing products imported from Belarus to recipients in Moscow and the Moscow Province.

The Order is entered into force 90 days after the day of its official publication.

Registered in the Ministry of Justice of the Russian Federation on April 13, 2004. Reg. No. 5744.

Direction of the Central Bank of Russia No. 1365-U of December 30, 2003 on the Particulars of Direct Repurchase Operations Carried out by the Bank of Russia with Credit Organisations

The direct repurchase operations are repurchase deals with blocked backing when the seller of the bonds under the first part of the deals and the buyer of the bonds under the second part of the deal is a credit organisation, and the buyer of the bonds under the first part of the deal and the seller of the bonds under the second part of the deal is the Bank of Russia.

Direct repurchase deals are carried out only with credit organisations having concluded a special agreement with the Bank of Russia, as well as an additional agreement to the contract for correspondent account/subaccount(s) to provide to the Bank of Russia an indisputable right to write off the fine and/or amount of residual obligations. The Direction provides a sample form of the agreement.

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

Registered in the Ministry of Justice of the Russian Federation on April 13, 2004. Reg. No. 5741.

Order of the Ministry of Taxation of the Russian Federation No. BG-3-24/180@ of March 4, 2004 on the Sending of Information on the Opening (Closing) of a Bank Account and the Changing of the Bank Account Number of Legal Entities and Independent Entrepreneurs between the Bank and the Tax Body in the Electronic Form over Telecommunication Channels

From April 1, 2004 introduces the new procedure of sending of information on the opening (closing) of a bank account and the changing of the bank account number between the bank and the tax body in the electronic form over telecommunication channels.

Defines the particulars of organisation of information exchange in the cases of sending of such information.

The procedure applies to the banks submitting information on the opening and closing of a bank account and changing of the bank account number in the electronic form.

Registered in the Ministry of Justice of the Russian Federation on April 13, 2004. Reg. No. 5739.

Regulation on the Procedure of Building and Spending of the Normalised Insurance Reserve of Financial Resources of the Federal Fund of Obligatory Medical Insurance (Endorsed by the Decision of the Management Board of the Federal Fund of Obligatory Medical Insurance No. 11/08 of February 26, 2004)

The normalised insurance reserve of financial resources of the Federal Fund of Obligatory Medical Insurance is created to support financial stability of the system of obligatory medical insurance. The given resources are reserved for the cases of emergency situations of financing of the programs of obligatory medical insurance during the year.

The reserve is built in the amount of 8% of the resources (not more than the monthly amount) intended for the levelling of financial conditions of work of the territorial funds of obligatory medical insurance in the framework of the basic program of obligatory medical insurance. The Regulation lists the cases permitting to spend the resources of the normalised insurance reserve.

Registered in the Ministry of Justice of the Russian Federation on April 13, 2004. Reg. No. 5738.

Decision of the Social Insurance Fund of the Russian Federation No. 31 of March 1, 2004 on the Endorsement of the Average Values of the Main Figures for the Estimation of Discounts and Mark-ups for Insurance Tariff Rates for Obligatory Social Insurance against Industrial Accidents and Occupational Diseases in 2004

Provides three groups of the main figures for each sector (subsector) of the economy: ratio of the amount of insurance support for all of the occurred insured cases to the accrued amount of insurance contributions, number of insured cases per thousand employees, number of days of temporary disability per insured case.