Monitoring of the Federal Legislation dated 14.09.2005

Decision of the Government of the Russian Federation No. 558 of September 10, 2005 on the Measures to Protect Russian Producers of Three-Phase Asynchronous Electric Motors

Introduces for three years an antidumping duty for the Ukrainian-made three-phase asynchronous AC electric motors with the power rating of at least 0.37 kW and not greater than 7.5 kW, with rotation axis height of 80, 100 and 112 mm, classified under the codes of the Foreign Trade Commodity Nomenclature of Russia 8501 51 900 0 and 8501 52 910 0. The rate of the import duty for electric motors made by OAO Kharkov Electrotechnical Works "Ukrelektromash" amounts to 13.8% of the customs cost and 59.3% for other producers.

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

Decision of the Government of the Russian Federation No. 557 of September 10, 2005 on the Procedure for Granting State Guarantees of the Russian Federation in 2005 for the Borrowings to Implement the Project of Creation of the Russian Regional Airplane

The guarantees are granted to the Russian organisation having won the open contest of 2003 to determine the leading organisation to execute the works under the project. The guarantees shall secure the organisation liabilities for the borrowings in the form of a credit attracted in credit organisations to implement the project, pertaining to redemption of the credit (main debt). The guarantees are provided on gratuitous basis for the whole period of execution of liabilities secured with the guarantee. The Decision defines the terms, forms of granting of the guarantee, as well as the procedure of execution of liabilities under the guarantee.

Decision of the Government of the Russian Federation No. 556 of September 10, 2005 on the Amendments to the Rules of Granting State Guarantees of the Russian Federation for the Borrowings of the Open-Type Joint-Stock Company "Agency for the Mortgage Housing Crediting"

The amendments envisage the right of the Agency for the Mortgage Housing Crediting to attract the loans by placing the bonds secured with guarantees to redeem mortgage securities of Russian issuers, as well as to redeem and cancel the bonds issued by the Agency and secured with guarantees.

The Decision changes the composition and the time limits for the reports submitted by the Agency to the Ministry of Finance of Russia.

Order of the Federal Agency for Tourism No. 86 of July 21, 2005 on the Endorsement of the System of Classification of Hotels and Other Accommodations

The system of classification of hotels and other accommodations is being brought in compliance with international standards. The Order defines the procedure of classification of hotels and other accommodations (procedure including assessment of compliance of hotels and other accommodations with the requirements specified in the system and their certification for the appropriate category). The classification shall be arranged on the voluntary basis.

The system is open for organisations of various organisational and legal forms and independent entrepreneurs rendering accommodation services and accepting and fulfilling its rules.

The Order specifies the requirements to the hotels and other accommodations of various categories, to the suits of various categories and to the activities of participants of the system.

The mark of the category of the hotel and another accommodation is applied on the basis of the certificate obtained after the certification. The certificate is handed out for five years.

Registered in the Ministry of Justice of the Russian Federation on September 9, 2005. Reg. No. 6991.

Letter of the Central Bank of Russia No. 04-25-1/3762 of September 7, 2005 on the Checking of Credit Organisations for Disclosure of Information on the Granted Consumer Credits

When carrying out complex and thematic checks to assess the quality of the debts in loans, observation by credit organisations (their branches) of recommendations must be checked on the standards of disclosing of information on the granted consumer credits conveyed in the Letter of the Federal Antimonopoly Service and the Bank of Russia No. IA/7235 and No. 77-T of May 26, 2005. The failure to observe the mentioned recommendations is registered in the acts of checks of the credit organisations (their branches). The mentioned failure to observe the recommendations may not regarded as violations permitting the Bank of Russia to apply to credit organisations the measures specified in Article 74 of the Federal Law on the Central Bank of the Russian Federation (Bank of Russia).