Monitoring of the Federal Legislation dated 27.08.2004

Decree of the President of the Russian Federation No. 1103 of August 24, 2004 on the Amendments to the Regulation on the Issue and Circulation of the Housing Certificates Endorsed by the Decree of the President of the Russian Federation No. 1182 of June 10, 1994

Specifies that the housing certificates may be issued in one of the forms envisaged in the Federal Law No. 39-FZ of April 22, 1996 on the securities market. The forms of the housing certificates (personal undocumented, bearer documented) must be defined in the decision of their issue.

Defines the list of obligatory requisites to be contained in the housing certificate issued in the documented form in addition to the obligatory requisites envisaged in the mentioned Federal Law.

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

Direction of the Central Bank of Russia No. 1484-U of August 9, 2004 on the Amendments to the Regulation of the Bank of Russia No. 205-P of December 5, 2002 on the Rules of Accounting Work in Credit Organisations Located on the Territory of the Russian Federation

The amendments pertain mostly to the procedure of registration of the fixed assets, non-material assets, material reserves.

Introduces the notion of the current (replacement) cost of objects of the fixed assets and the period of useful life of objects of fixed assets and non-material assets and explains the procedure of their determination.

The Direction must be published in the Herald of the Bank of Russia and enters into force from January 1, 2005 except for Subitem 1.1.2 of Item 1.1 to be entered into force 10 days after the day of official publication of the given Direction.

Registered in the Ministry of Justice of the Russian Federation on August 24, 2004. Reg. No. 5992.