Monitoring of the Federal Legislation dated 5.05.2004

Decision of the Government of the Russian Federation No. 226 of April 30, 2004 on the Governmental and Interagency Coordination and Consultative Bodies Formed by the Government of the Russian Federation and the Federal Bodies of Executive Power

Coordination and consultative bodies shall be formed on the representation basis. Coordination bodies shall be named commissions or organising committees and be formed to provide for coordinated actions of the interested bodies of executive power when solving a certain range of tasks or to implement particular measures. Consultative bodies shall be named councils and be formed for preliminary processing of issues and prepare suggestions of recommended nature for them.

Decisions adopted by the coordination bodies within their sphere of reference shall be obligatory for all bodies of executive power represented in them.

Decision of the Government of the Russian Federation No. 225 of April 30, 2004 on the Governmental Commission for the Improvement of the Results of Budget Spendings

The Governmental Commission for the Improvement of the Results of Budgets Spendings is a body formed to coordinate the work in preparation by the subjects of budget planning of annual reports on the results and main directions of their activities.

The Commission may request from the federal bodies of executive power and other recipients of the resources of the federal budget begin the subjects of the budget planning information, documents and materials. Decisions of the Commission adopted within its sphere of reference shall be obligatory for all federal bodies of executive power, other recipients of the resources of the federal budget.

Decision of the Federal Commission for Securities Market No. 04-5/ps of February 18, 2004 on the Regulation of Activities of the Management Companies of Joint-Stock Investment Funds and Shared Investment Funds

Endorses the Regulation on the activities of the management companies of joint-stock and shared investment funds defining the requirements to the management of joint-stock investment funds, trust control of the investment reserves of joint-stock investment funds, as well as trust control of the shared investment funds. Management companies are ordered to bring their activities in compliance with the requirements of the Regulation within three months from the day of the entry into force of the Decision.

Defines the rules of handing out, exchange and redemption of investment shares of the shared investment fund, as well as determination of the estimated cost of such shares. Specifies the procedure of registration of the property comprising the investment reserves of the joint-stock investment fund, property comprising the shared investment fund and of storage of documents.

The management company must arrange an internal control over observation by the management company and its employees of the requirements of the laws and other normative legal acts, investment declaration of the joint-stock investment fund, rules of trust control of the shared investment fund, as well as decisions of the general meeting of the owners of investment shares.

Registered in the Ministry of Justice of the Russian Federation on April 27, 2004. Reg. No. 5776.