Windfall tax for major companies to be introduced in Russia

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Daily Monitoring of the Legislation

Monitoring of the Federal Legislation dated 22.03.2005

Decision of the Constitutional Court of the Russian Federation No. 4-P of March 22, 2005 on the Case of Constitutionality of a Number of Provisions of the Code of Criminal Procedures of the Russian Federation Regulating the Procedure and Time Limits of Application of Detention As a Preventive Punishment at the Stages of Criminal Proceedings Following Preliminary Investigation and Sending the Case to Court Pursuant to Appeals of a Number of Citizens

The Constitutional Court of the Russian Federation recognised as complying with the Constitution of the Russian Federation Part 10 of Article 108, Parts 10 and 11 of Article 109 and Part 1 of Article 255 of the Code of Criminal Procedures of the Russian Federation permitting the court to examine at its own initiative the issue of application of detention to the accused as a preventive punishment, since the provisions contained in them do not permit the court to take decision on the mentioned issue without investigating the evidence presented by the prosecution and the defence confirming the presence or absence of the grounds to apply the given preventive punishment.

Article 227, Article 228, Part 2 of Article 229 of the Code of Criminal Procedures of the Russian Federation and Part 2 and Part 3 of Article 255, Article 410 and Article 411 of this Code normatively connected with them are also recognised as not contradicting the Constitution of the Russian Federation, since the provisions contained in them do not permit to detain the accused without a court ruling after the case is sent to the court by the prosecutor or the higher court.

The Decision confirms the constitutionality of Part 1 and Part 2 of Article 110, Part 3 of Article 255, Part 7 of Article 410, Part 1 of Article 411 of the Code of Criminal Procedures of the Russian Federation, since the provisions contained in them do not permit for an arbitrary, uncontrolled by the court prolongation of the period of detention of the accused and do not exempt the court from the duty to process the case within reasonable time limits.

Article 227, Part 2 of Article 228, Part 2 and Part 3 of Article 231, Article 477 (Appendix 15) of the Code of Criminal Procedures of the Russian Federation, where it specifies the procedure of taking the decision on the preventive punishment by the judge during preparation for the court session, are recognised as not contradicting the Constitution of the Russian Federation. The provisions contained in them suggest providing to the accused the right to participate in the examination of the issue of application of detention as a preventive punishment by the court, prolongation of the period of detention or leaving the given preventive punishment unchanged.

The Decision is entered into force immediately after annunciation.

Decision of the Government of the Russian Federation No. 139 of March 18, 2005 on the Endorsement of the Rules of Carrying out of the Annual Audit Check of Accounting Work and Financial (Accounting) Reports Pertaining to Generation and Investing of Resources of Accumulated Pensions, As Well As Financing of Payments at the Expense of Resources of Accumulated Pensions

The goal of the audit check is the forming of opinion on compliance with the requirements of the legislation of the Russian Federation of the procedure of keeping by the specialised depositary and the management companies of accounting work and reports pertaining to generation and investing of resources of accumulated pensions and financing of payments at the expense of resources of accumulated pensions.

The audit check shall be arranged separately for operations under each contract for the services of the specialised depositary concluded with management companies providing trust control of resources of accumulated pensions, as well as the Pension Fund of Russia.

The audit statements (beginning with financial (accounting) reports for the year 2004) shall be submitted by the specialised depositary and the management companies to the Federal Service for Financial Markets within 90 days after the end of the year and shall be published in mass media together with reports of resources of accumulated pensions and financial results of their investing.

Order of the Ministry of Justice of the Russian Federation No. 16 of March 4, 2005 on the Endorsement of the Rules of Entry of Records of the Rights for the Enterprise As a Property Complex and Transactions with It in the Joint State Register of the Rights for Immovable Property and Transactions with It and of Interaction between the Federal Registration Service and Its Territorial Bodies

Specifies the procedure of entry of records on the rights for the enterprise as a property complex and transactions with it in the Joint State Register of the Rights for Immovable Property and Transactions with It, as well as the procedure of interaction of the Federal Registration Service and its territorial bodies.

The state registration of the rights, restrictions (encumbrances) of the rights for the enterprise and transactions with it shall be vested in the Federal Registration Service. The rights for the land plots and other objects of immovable property comprising the enterprise, their restrictions (encumbrances), transactions with the given objects of immovable property must be registered by the territorial bodies of the Federal Registration Service at the place of location of the given objects.

The Order provides the form of the report of acceptance of application for the state registration of the right, restriction (encumbrance) of the right for the enterprise, transactions with it.

Registered in the Ministry of Justice of the Russian Federation on March 17, 2005. Reg. No. 6404.

Information of the Central Bank of Russia of March 21, 2005 on the Change of the Structure of the Bicurrency Basket - an Operational Benchmark for the Rates Policy of the Bank of Russia

Increases the share of euro from 0.1 to 0.2 in the bicurrency basket from March 15, 2005. The increase of the share of euro in the bicurrency basket is aimed at the further equalisation of the intraday volatility of the rouble rate to the US dollar and other foreign currencies significant for the Russian Federation and took into account adaptation of the participants of the internal currency market to the new conditions of rate forming.

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