Monitoring of the Federal Legislation dated 30.11.2005

Order of the Ministry of Transport of the Russian Federation No. 127 of October 18, 2005 on the Endorsement of the Regulation on the Particulars of the Working Time and Leisure Time Regime for Tramway and Trolleybus Drivers <br>

Defines the particulars of the working time and leisure time regime for the drivers working under a labour contract in tramways and trolleybuses owned by organisations regardless of organisational and legal forms and proprietary forms, agency affiliation, entrepreneurs engaged in passenger transportation on the territory of the Russian Federation. The endorsed Regulation shall be obligatory when working out working (shift) schedules for drivers. Tramway (trolleybus) time-tables should be prepared while taking account of the norms of the Regulation.

Registered in the Ministry of Justice of the Russian Federation on November 25, 2005. Reg. No. 7200.

Order of the Federal Tax Service No. SAE-3-09/591@ of November 16, 2005 on the Organisation of Work of the Tax Bodies to Exclude a Legal Entity Having Terminated Its Activities from the Joint State Register of Legal Entities <br>

The endorsed procedure shall regulate the work of the tax bodies excluding legal entities having terminated their activities from the Joint State Register of Legal Entities at the decision of the bodies in charge of registration. The cameral check department shall form a list of legal entity taxpayers on the quarterly basis having failed to submit reporting documents within the most recent twelve months. In the presence of information of accounts of these legal entities in the banks, requests shall be sent to the banks on operations on the mentioned accounts within the recent year. If there are no operations on the mentioned accounts, a certificate of the signs of inoperative legal entity is being drawn up for the mentioned legal entity. The mentioned certificate shall be drawn up also in cases of absence of information of the bank accounts of the legal entity with the tax body.

The certificate is sent to the structural division of the tax body at the place of location of the legal entity in charge of the state registration of legal entities.

The Order provides a procedure for taking the decision to exclude the legal entity from the Joint State Register of Legal Entities. If there are no applications within three months form the day of publication of the decision of anticipated exclusion from the inoperative legal entity, creditors and other parties whose rights and legal interests are affected by the exclusion of the inoperative legal entity from the Joint State Register of Legal Entities, the structural division of the tax body shall enter a record of exclusion in the register.

Letter of the Central Bank of Russia No. 141-T of November 24, 2005 on the Inclusion of Securities in the Lombard List of the Bank of Russia <br>

The Lombard List of the Bank of Russia shall include now individual issues of the bonds of the banks Russky Standart and International Moscow Bank.

Letter of the Central Bank of Russia No. 06-33-2/4176 of October 5, 2005 on the Notification of the Election (Dismissal) of Member of the Board of Directors (Supervisory Board) <br>

The Bank of Russia emphasised that any amendments to the Instruction No. 109-I on the procedure for taking the decision by the Bank of Russia on the state registration of credit organisations and issue the license for bank operations envisaging an increased time limit for the notification of the Bank of Russia of the election (dismissal) of the member of the board of directors (supervisory board) of the credit organisation are impossible. The three-day time limits mentioned in the Instruction is in compliance with the time limit specified in the Federal Law on the banks and banking activities. If the credit organisation failed to prepare within this time limit and submit the protocol of the general meeting of stock-holders together with the notification of the election (dismissal) of the member of the board of directors (supervisory board), this may be done later, however, within the time limits specified in the Federal Law on joint-stock companies.

Letter of the Department of Financial Monitoring and Currency Control of the Central Bank of Russia No. 12-1-5/2699 of October 26, 2005 on the Application of the Instruction No. 117-I <br>

Explains the procedure of drawing up of the transaction certificate in the payments in foreign currencies in transactions in the form of a claims cession. Specifies that currency operations between a resident and a non-resident including payments and transfers under a foreign-trade contract are covered by the procedure of drawing up of the transaction certificate specified in the Instruction of the Bank of Russia No. 117-I of June 15, 2004. According to this procedure, the transaction certificate for the contract is closed when the resident submits to the authorised bank where he has drawn up or redrawn the transaction certificate a written application of the closing of the transaction certificate because of the termination of obligations.