Monitoring of the Federal Legislation dated 15.12.2005

Decision of the Government of the Russian Federation No. 758 of December 13, 2005 on the Endorsement of the Regulation on the Supervisory Board of the Special Economic Zone

The supervisory board is created to coordinate activities of the federal and regional bodies of executive power, executive body of a municipal formation, economic subjects for the purpose of development of the special economic zone, control over execution of the agreement on the creation of the special economic zone, spending of budget resources allocated for the development of the territory, as well as for examination and processing of perspective plans of development of the special economic zone.

Decision of the Government of the Russian Federation No. 755 of December 9, 2005 on the Amendments to the Decision of the Government of the Russian Federation No. 249 of April 22, 2005

Resources of the federal budget envisaged in 2005 for the state support of small businesses shall be granted by the Ministry of Economic Development of Russia on the contest basis to the budgets of the subjects of the Russian Federation in the form of subventions for the development of the system of crediting and leasing relations in the sphere of small businesses. The subventions, in particular, are allocated to subsidise part of expenses of small businesses pertaining to the reward paid out under the bank guarantee of the credit organisation providing for execution of obligations under the credits attracted in the banks in 2005 for up to 5 years.

The Decision lists the terms of granting of subventions and the documents necessary to get it. Specifies the particulars of granting of subventions for the development of leasing relations in the sphere of small businesses.

Decision of the Government of the Russian Federation No. 754 of December 9, 2005 on the Endorsement of the Rates of Import Customs Duties for Individual Types of Equipment for Production of Items of Cellulose

The rates of the import customs duties for individual types of equipment for making paper and pulp items earlier introduced by the Decision of the Government of the Russian Federation No. 202 of April 7, 2005 for 9 months shall be preserved on unlimited basis.

The Decision is entered into force from February 12, 2006.

Decision of the Government of the Russian Federation No. 738 of December 7, 2005 on the Procedure of Forming of the Source of Resources to Pay for the Services to Form a Technological Reserve of Power Producing Capacities and Finance Power Producing Objects to Prevent a Deficit of Electric Power

Defines the procedure and terms of attracting investments for the period until 2010 to build new power stations, as well as additional power producing plants on existing power stations, necessary for the forming of a perspective technological reserve of power producing capacities in the presence of forecasted deficit of electric power in the Joint Power-Supply System of Russia and technologically isolated territorial power-supply systems, as well as the mechanisms of return of resources to investors invested by them in creation (construction) of power generating objects.

Construction of each generating object shall be a separate investment project. Selection of investment projects shall be arranged through open contests permitted for participation to any Russian and foreign subjects of entrepreneurial activities.

Organisation of contests of investment projects is vested in the Federal Agency of Power Supplies.

Investment project selected as a result of the contest shall be implemented on the basis of the contract concluded by the executor of the appropriate investment project with the contest organiser and the system operator.

Return of invested resources shall be arranged through payments for the services for the forming of the perspective technological reserve.

The rules do not exclude opportunities of use of other methods of financing of construction of power producing objects and attracting investments for it and do not apply to relations pertaining to the forming and deployment of the operative and strategic technological reserves of capacities.

The Decision amends the fundamentals of price forming in electric and thermal power supplies in the Russian Federation and rules of gas supplies in the Russian Federation. The amendments specify the procedure of determination of the tariff rate for electric power produced by the power producing object put into operation in the framework of the forming of the perspective technological reserve, as well as specifies the particulars of gas supplies to persons rendering services in the forming of the perspective technological reserve of power producing capacities.

Letter of the Central Bank of Russia No. 145-T of December 6, 2005 on the List of Organisations

The list of organisations whose promissory notes (claims rights under credit contracts) may be accepted as a security under the credits of the Bank of Russia, as well as organisations that may act as guarantors for the promissory notes (claims rights under credit contracts) accepted as a security for the credits of the Bank of Russia, shall include oil company Rosneft.

Letter of the Central Bank of Russia No. 144-T of December 5, 2005 on the Annual Accounting Report of Credit Organisations for the Year 2005

When drawing up the annual accounting report for the year 2005, credit organisations must keep in mind that the incoming residues as of January 1, 2005 of the annual accounting balance report as of January 1, 2006 must be in correspondence with the outgoing residues of Column 14 of the summary sheet of turnovers of events after the reporting date for the year 2004. Columns 5-10 of the annual accounting balance report as of January 1, 2006 shall be filled out regardless of the events pertaining to the year 2004 after the reporting date.