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Daily Monitoring of the Legislation

Monitoring of the Federal Legislation dated 25.08.2004

Federal Law No. 121-FZ of August 20, 2004 on the Amendments to the Federal Law on Insolvency (Bankruptcy) of Credit Organisations and Invalidation of Some of the Legislative Acts (Provisions of Legislative Acts) of the Russian Federation

The goal of the amendments is reduction of the risk of insolvency and financial rehabilitation of credit organisations, prevention of deliberate bankruptcy and protection of interests of creditors. The Law institutes, in particular, additional responsibility of the bank management and owners for the actions in anticipated bankruptcy. Besides, the Law vests the functions of the bankruptcy commissioner in cases of bankruptcy of credit organisations attracting resources of natural persons in the special non-commercial organisation - Agency of Insurance of Deposits operating as a state-run corporation.

The Federal Law is entered into force three months after the day of its official publication.

Federal Law No. 120-FZ of August 20, 2004 on the Amendments to the Budget Code of the Russian Federation Pertaining to Regulation of Inter-Budget Relations

Eliminates three levels of the budget system of the Russian Federation, envisages separation of the local budgets into the budgets of two levels (types) - those of municipal regions and residential settlements.

While refining the definitions of a number of principles of the budget system of the Russian Federation, introduces the new principle of equality of the budget rights of the subjects of the Russian Federation, municipal formations by prohibiting specific relations between the bodies of power of various levels in the budget process not complying with the Code.

Specifies uniform principles and mechanisms of granting transfers to budgets of other levels from the federal budget, budgets of the subjects of the Russian Federation and local budgets. Introduces the new chapter regulating the status and functions of the temporary fiscal administration. The temporary fiscal administration may be introduced for up to 1 year by the decision of the court of arbitration if the overdue debt of the subject of the Russian Federation (municipal formation) is greater than 30% of the own incomes of the appropriate budget. Defines the notion and composition of the mentioned debt, as well as specifies the functions and authority of the temporary fiscal administration.

Specifies that cash services for the budgets of all levels of the budget system of the Russian Federation is vested in the Federal Treasury through accounts opened in the Bank of Russia.

The Federal Law is entered into force from January 1, 2005 except for individual provisions.

Federal Law No. 117-FZ of August 20, 2004 on the Accumulation Mortgage System of Housing Support for the Servicemen

The subject of the legal regulation of the Law is relations pertaining to the building, particulars of investing and use of resources of the housing support for the servicemen ensuring state support by accumulating resources of the federal budget and maintaining servicemen solvency for the purposes of mortgage housing crediting.

The Law defines the participants of the accumulation mortgage system, specifies their rights and duties.

Introduces opportunities of purchase of housing by servicemen as property using mortgage crediting tools any time after three years of participation in the accumulation mortgage system without waiting for the end of the service, as well as of choosing of the place of location and the housing space.

Regulates the issues of building of accumulated housing resources, principles of their placing and investing, authority of the Government of the Russian Federation, federal bodies of executive power participating in the accumulation mortgage system, authorised federal body in charge of the functioning of the accumulation mortgage system of housing support for the servicemen.

The Federal Law is entered into force from January 1, 2005.

Decree of the President of the Russian Federation No. 1085 of August 16, 2004 "Issues of the Federal Service of Technical and Export Control"

Specifies that the Federal Service of Technical and Export Control, its territorial bodies and subordinate organisations shall become successors of the State Technical Commission of the President of the Russian Federation, its territorial bodies and subordinate organisations.

The Federal Service of Technical and Export Control is a federal body of executive power in charge of the implementation of the state policy, interagency coordination and interaction, special and control functions in the state security sphere; authorised body in the sphere of countermeasures against technical intelligence services and technical protection of information, as well as the specially authorised body in the sphere of export control; body of protection of the state secret empowered with authority to dispose of information comprising the state secret.

Activities of the Federal Service of Technical and Export Control are supervised by the President of the Russian Federation. The Federal Service of Technical and Export Control is subordinate to the Ministry of Defence of Russia.

The Decree is entered into force from the day of singing.

Decree of the President of the Russian Federation No. 1084 of August 16, 2004 "Issues of the Federal Agency of Special Construction"

The Federal Agency of Special Construction is a federal body of executive power in charge of the organisation of works in the sphere of special construction, highway construction and communication for the interests of state defence and security using the forces of the military engineering and technical units and the military highway construction units of the Federal Agency of Special Construction.

Activities of the Federal Agency of Special Construction of Russia are supervised by the President of the Russian Federation. The Federal Agency of Special Construction is subordinate to the Ministry of Defence of Russia providing for the coordination and control of its activities.

The Decree endorses the structure and composition of the Federal Agency of Special Construction.

The Decree is entered into force from the day of its signing.

Decree of the President of the Russian Federation No. 1083 of August 16, 2004 "Issues of the Federal Service of the Military and Technical Cooperation"

The Federal Service of the Military and Technical Cooperation is a federal body of executive power in charge of control and enforcement in the sphere of the military and technical cooperation of the Russian Federation with foreign states.

Activities of the Federal Service of the Military and Technical Cooperation of Russia are supervised by the President of the Russian Federation. The Federal Service of the Military and Technical Cooperation of Russia is subordinate to the Ministry of Defence of Russia providing for coordination and control of its activities.

The Decree is entered into force from the day of its signing.

Decision of the Government of the Russian Federation No. 424 of August 20, 2004 on the Amendments to Some of the Decisions of the Government of the Russian Federation on the Draft Legislation

Specifies that proposals on the draft legislation of the Government of the Russian Federation may be introduced in the Ministry of Justice of the Russian Federation only by the federal bodies of executive power supervised by the President of the Russian Federation or the Government of the Russian Federation.

The draft statements, amendments and official opinions of the Government of the Russian Federation prepared by the federal bodies of executive power are introduced in the Government of the Russian Federation exclusively by the heads of the federal bodies of executive power or the acting heads together with attached materials received from the subjects possessing the right of legislative initiative or the State Duma of the Federal Assembly of the Russian Federation and the interested federal bodies of executive power.

It is not permitted for the federal bodies of executive power to present the draft laws in the chambers of the Federal Assembly of the Russian Federation and other subjects possessing the right of legislative initiative, as well as to hand over other materials pertaining to legislative activities.

The statements on the draft laws, before they are introduced in the Government of the Russian Federation, are signed by the Minister of Justice of the Russian Federation or his deputies and are sent to the appropriate federal body of executive power within 5 days from the date of receiving of the draft laws as a rule. Depending on the volume and complexity of the draft law, another time limits for preparation of the statement may be specified upon coordination between the Ministry of Justice of the Russian Federation and the appropriate federal body of executive power, which may not be greater than 30 days.

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