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Daily Monitoring of the Legislation

Monitoring of the Federal Legislation dated 7.05.2004

Order of the Government of the Russian Federation No. 608-r of May 7, 2004

In pursuance of Article 116 of the Constitution of the Russian Federation and Article 35 of the Federal Constitutional Law on the Government of the Russian Federation, the Government of the Russian Federation abdicates from their authority in the face of the newly elected President of the Russian Federation.

Instruction of the Central Bank of Russia No. 112-I of March 31, 2004 on the Obligatory Normatives of Credit Organisations Issuing Mortgage Insurance Bonds

Specifies the particulars of calculation and the values of obligatory normatives (N1 and N5), as well as the amount and method of determination of additional obligatory normatives (N17, N18 and N19) of credit organisations issuing mortgage insurance bonds, as well as the particulars of enforcement of their observation by the Bank of Russia.

The minimum permissible numerical value of N1 normative (sufficiency of own resources (capital)) of the issuing credit organisation is fixed in the amount of 14%.

The minimum permissible numerical value of the general liquidity normative (N5) of the issuing credit organisation is fixed in the amount of 20%.

The minimum permissible numerical value of the normative of the minimum ratio of the amount of provided mortgage insurance credits and own resources (capital) (N17) of the issuing credit organisation is fixed in the amount of 10%.

The minimum permissible numerical value of the normative of the minimum ratio of the amount of mortgage insurance and the volume of issue of the mortgage insurance bonds (N18) of the issuing credit organisation is fixed in the amount of 100%.

The maximum permissible numerical value of the normative of the maximum ratio of the total amount of obligations of the issuing credit organisation to creditors possessing priority right to satisfy their claims to the holders of the mortgage insurance bonds and own resources (capital) (N19) of the issuing credit organisation is fixed in the amount of 50%.

The issuing credit organisations must observe the mentioned normatives on the daily basis and present reports of their observation on the monthly basis as of the first of each month, as well as during the month in the framework of the reporting Form 0409135 "Information on Obligatory Normatives".

The Instruction 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 May 5, 2004. Reg. No. 5783.

Order of the Ministry of Taxation of the Russian Federation No. SAE-3-23/287@ of April 14, 2004 on the Amendments to the Instruction on the Filling of the Form of the Tax Estimate (Information) of the Amounts of Incomes Paid out to Foreign Organisations and Collected Taxes

Pursuant to the endorsement of the new form of the tax estimate of the amounts of incomes paid out to foreign organisations and collected taxes, refines its filling procedure. In particular, omits the earlier available provision stating that line "Name of the Foreign Organisation" of the tax estimate must show the name of the foreign organisation receiving the income as indicated in the contract concluded by the tax agent and the foreign organisation.

Registered in the Ministry of Justice of the Russian Federation on May 5, 2004. Reg. No. 5782.

Order of the Ministry of Taxation of the Russian Federation No. SAE-3-23/286@ of April 14, 2004 on the Endorsement of the Form of the Tax Estimate (Information) of the Amounts of Incomes Paid out to Foreign Organisations and Collected Taxes

Endorses the new form of the tax estimate (information) of the amounts of incomes paid out to foreign organisations and collected taxes (KND Form 1151056).

Registered in the Ministry of Justice of the Russian Federation on May 5, 2004. Reg. No. 5781.

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