Monitoring of the Federal Legislation dated 13.05.2004

Decision of the Government of the Russian Federation No. 233 of May 11, 2004 on the Non-Application of the Rate of the Export Customs Duty for Laminar Wood and Other Items of Wood

The rate of the export customs duty for wood and items of it, charcoal (codes according to the Foreign-Trade Commodity Nomenclature 4402 00 000 0 - 4421) endorsed by the Decision of the Government of the Russian Federation No. 1364 of December 9, 1999 shall not apply to laminar wood (code according to the Foreign-Trade Commodity Nomenclature 4418 90 100 0) and other items of wood (code according to the Foreign-Trade Commodity Nomenclature 4421 90 980 0).

The Decision is entered into force one month after the day of its official publication.

Decision of the Government of the Russian Federation No. 230 of May 6, 2004 on the Redemption in 2004 from the Holder Citizens of the Russian Federation of Available with Them State Treasury Bonds of the USSR and Certificates of the Savings Bank of the USSR Having Been Placed on the Territory of the Russian Federation before January 1, 1992.

Redemption from the holder citizens of the Russian Federation of the bonds and certificates shall be arranged to their desire through the Savings Bank of the Russian Federation. The amount of resources to be paid out under the bonds and certificates shall be determined proceeding from the nominal cost of the security (in the roubles of the USSR), compensation in the amount of 40% of the nominal cost of the mentioned security and the income for this security. The income will be paid out in the amount of 10% annual of the nominal cost of the appropriate security (including 40% compensation) for each year following the year of the end of the time of circulation specified in the terms of issue to the year 2003 inclusive.

Direction of the Central Bank of Russia No. 1413-U of March 30, 2004 on the Invalidation of the Acts of the Bank of Russia

Pursuant to the adoption of the Instruction of the Bank of Russia No. 111-I of March 30, 2004, invalidates the Preamble, Chapters I, II and V, Appendices 1 and 2 of the Instruction of the Bank of Russia No. 7 of June 29, 1992 on the procedure of obligatory sale by the enterprises, associations, organisations of the part of the currency receipts through authorised banks and of carrying out of operations at the internal currency market of the Russian Federation.

The Direction is entered into force from June 18, 2004.

Direction of the Central Bank of Russia No. 1406-U of March 26, 2004 on the Adjustment of Individual Acts of the Bank of Russia

Pursuant to the adoption of the Regulation of the Bank of Russia No. 254-P of March 26, 2004, invalidates the Instruction of the Bank of Russia No. 62a of June 30, 1997 on the procedure of building and use of the reserve for possible losses in loans (with amendments).