Windfall tax for major companies to be introduced in Russia

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Monitoring of the Federal Legislation dated 26.10.2005

Federal Law No. 133-FZ of October 24, 2005 on the Amendments to the Federal Law on Insolvency (Bankruptcy)

Changes the procedure of endorsement of the bankruptcy commissioner in cases when execution of his duties requires access to information comprising the state secret.

The amendments define the procedure for obtaining information on the form of access to the state secret by the arbitration court necessary for the execution of the authority of the bankruptcy commissioner, as well as the procedure of interaction of the arbitration court, self-regulating organisations of bankruptcy commissioners and the federal body of executive power in charge of security.

The Law refines the grounds permitting the arbitration court to reject the candidate bankruptcy commissioner suggested by the self-regulating organisation, requirements to the debtor application and the list of documents attached to such application.

Decision of the Government of the Russian Federation No. 633 of October 21, 2005 on the Endorsement of the Rules of Compensation to Unemployed Citizens of Material Expenses Pertaining to Employment or Study in Another Locality at the Proposal of the Employment Service

Unemployed citizens shall get compensation for the expenses of travel to the place of work or study and back, moving of property (up to 500 kg), leasing of dwelling space and settlement at the new place in the amount of actually suffered expenses, as well as the daily allowance in the amount of Rbl 100 for each day of travel.

The Decision lists the documents to be submitted to the employment centre to get the compensation.

The compensation will be paid out to the unemployed citizen within one month from the day of submission of the application with all necessary documents through organisations of the federal postal communication or credit organisations.

The Decision lists the cases when the citizens must return the resources paid out as a compensation in full amount.

Decision of the Government of the Russian Federation No. 632 of October 21, 2005 on the Endorsement of the Method of Distribution of Subventions from the Federal Fund of Compensations in 2006 among the Subjects of the Russian Federation to Pay for the Housing and Communal Services for Individual Categories of Citizens, Social Support for the Persons Awarded with the Badges of the Honoured Donor of the USSR and the Honoured Donor of Russia and for the State Registration of the Acts of Civil Status

Provides the rules of determination of the amounts of subventions granted in 2006 from the Federal Fund of Compensations to the subjects of the Russian Federation for the benefits in payment for the housing and communal services to individual categories of citizens having become the victims of radiation exposure, veterans, invalids, honoured donors, as well as for the state registration of the acts of civil status.

Order of the Ministry of Natural Resources of the Russian Federation No. 267 of September 22, 2005 on the Forms and Time Limits for Submission of Reports of the Use of Subsidies for the Capital Repair of Hydrotechnical Structures Owned by the Subjects of the Russian Federation

The form of the report of the use of subsidies for the capital repair of hydrotechnical structures owned by the subjects of the Russian Federation is the one drawn up to the form provided in the Order.

The given report shall be submitted on the monthly basis by the bodies of executive power of the subjects of the Russian Federation to the Federal Agency of Water Resources.

Registered in the Ministry of Justice of the Russian Federation on October 24, 2005. Reg. No. 7113.

Order of the Federal Antimonopoly Service No. 212 of September 23, 2005 on the Endorsement of the Procedure of Determination of the Dominating Status of the Financial Organisation Managing Securities

The status of financial organisations being professional participants of the securities market and engaged in the management of securities is recognised to be dominating when the share at the federal market of securities is greater than 10% and at the regional, greater than 25%. The given provision also applies to the management organisations owned by the same group of persons.

The dominating status is not a violation of the antimonopoly legislation, but serves as grounds for a systematic monitoring of activities of the organisations by the antimonopoly body.

Registered in the Ministry of Justice of the Russian Federation on October 21, 2005. Reg. No. 7111.

Order of the Federal Service for Tariff Rates No. 388-e/l of August 23, 2005 on the Endorsement of the Method of Calculation of Tariff Rates for the Services of Gas Transportation over Arterial Pipelines

Defines the main methods and particulars of calculation of tariff rates for the services of gas transportation over arterial pipelines over the territory of the Russian Federation.

The given tariff rates shall apply in the payments for the services of gas transportation produced on the territory of the Russian Federation and do not apply to transportation over arterial pipelines of organisations owning gas-supply systems of the gas of own production of the mentioned organisations, as well as their affiliated entities.

Provides the procedure of submission of materials for examination in the Federal Service for Tariff Rates of Russia to endorse (revise) the tariff rates.

Registered in the Ministry of Justice of the Russian Federation on October 19, 2005. Reg. No. 7102.

Letter of the Central Bank of Russia No. 129-T of October 19, 2005 on the Inclusion of Securities in the Lombard List of the Bank of Russia

The Lombard List of the Bank of Russia shall include now the bonds of the European Bank of Reconstruction and Development with the state registration number of issue 4-01-00001-L.

Order of the Central Bank of Russia No. OD-591 of October 18, 2005 on the Adjustment Coefficients of the Bank of Russia

When calculating the cost of the backing for the credits of the Bank of Russia, correction of the market cost of the bonds of the city loans of Moscow included in the Lombard List of the Bank of Russia will be made using the factor of 0.9.

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