Windfall tax for major companies to be introduced in Russia
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Monitoring of the Federal Legislation dated 5.05.2006
Federal Law No. 60-FZ of May 3, 2006 on the Amendments to the Federal Law on the Banks and Banking Activities and the Federal Law on the Central Bank of the Russian Federation (Bank of Russia)
The Federal Law on the banks and banking activities is extended to include new norms specifying the minimum amount of own resources (capital) for banks in the amount of EUR 5 mn rouble equivalent and for non-bank credit organisations - EUR 500,000 and their responsibility for the reduction of this minimum amount.
Besides, amendments are introduced in Articles 62 and 63 of the Federal Law on the Central Bank of the Russian Federation (Bank of Russia) pertaining to the revocation of the right of the Bank of Russia to fix the amount of own resources (capital) for operating credit organisations as a prerequisite for creation of their affiliated organisations (branches, representations) on the territory of a foreign state.
The given norms are introduced from January 1, 2007. The banks possessing as of January 1, 2007 own resources (capital) in the amount below EUR 5 mn rouble equivalent may continue their activities on condition that the amount of their own resources (capital) will not reduce as compared to the level of this date.
The Federal Law is entered into force from January 1, 2007.
Besides, amendments are introduced in Articles 62 and 63 of the Federal Law on the Central Bank of the Russian Federation (Bank of Russia) pertaining to the revocation of the right of the Bank of Russia to fix the amount of own resources (capital) for operating credit organisations as a prerequisite for creation of their affiliated organisations (branches, representations) on the territory of a foreign state.
The given norms are introduced from January 1, 2007. The banks possessing as of January 1, 2007 own resources (capital) in the amount below EUR 5 mn rouble equivalent may continue their activities on condition that the amount of their own resources (capital) will not reduce as compared to the level of this date.
The Federal Law is entered into force from January 1, 2007.
Decision of the Government of the Russian Federation No. 266 of May 2, 2006 on the Amendments to the Rules of Calculation of the Periods of Work Permitting an Early Assignment of the Labour Old-Age Pension in Compliance with Articles 27 and 28 of the Federal Law on Labour Pensions in the Russian Federation
The amendments extend the list of the types of works specified in the rules where the periods of work are summed up in cases of an early assignment of the labour pension to citizens. The list includes the periods of work as rescue workers in professional rescue services and formations of the Ministry of Emergency Situations of Russia; works with convicts as employees of institutions of execution of punishments in the form of imprisonment; works in positions of the State Fire Service (fire fighting and rescue services) of the Ministry of Emergency Situations of Russia.
The mentioned amendments adjust the procedure of summing up of the periods of work permitting to get an early labour pension. Thus, the periods of work in the regions of the Far North and localities of similar status must be summed up with the periods of work included in the list. Besides, the periods of works in the underground without any restrictions must be added to the periods of work in heavy conditions. Earlier, such types of works were summed up only for men after 55 years of age and women after 50 years of age if they had worked in heavy conditions for at least 12 years and 6 months and 10 years respectively and had the insured length of service at least 25 and 20 years respectively.
The procedure of calculation of the periods of work on a rotational basis in the regions of the Far North and localities of similar status that was earlier applied for an early assignment of labour pensions to men after 55 and women after 50, if they had worked for at least 15 calendar years in the regions of the Far North or at least 20 calendar years in localities of similar status and have the insured length of service at least 25 and 20 years respectively, shall apply also to one more category of workers. This is women after 50 years of age having born two or more children if they have the insured length of service at least 20 years and have worked for at least 12 calendar years in the regions of the Far North or at least 17 calendar years in localities of the similar status (on a rotational basis).
In addition to the above, the rules are extended to include the provisions on the particulars of calculation of the length of service on the water transport, as well as the periods of underground work. The amendments introduce a rule requiring to include in the length of work permitting an early assignment of the labour old-age pension the time of the paid forced absenteeism in cases of illegal dismissal or transfer to another job followed by subsequent restoration at the previous place of work permitting an early assignment of the labour old-age pension.
The mentioned amendments adjust the procedure of summing up of the periods of work permitting to get an early labour pension. Thus, the periods of work in the regions of the Far North and localities of similar status must be summed up with the periods of work included in the list. Besides, the periods of works in the underground without any restrictions must be added to the periods of work in heavy conditions. Earlier, such types of works were summed up only for men after 55 years of age and women after 50 years of age if they had worked in heavy conditions for at least 12 years and 6 months and 10 years respectively and had the insured length of service at least 25 and 20 years respectively.
The procedure of calculation of the periods of work on a rotational basis in the regions of the Far North and localities of similar status that was earlier applied for an early assignment of labour pensions to men after 55 and women after 50, if they had worked for at least 15 calendar years in the regions of the Far North or at least 20 calendar years in localities of similar status and have the insured length of service at least 25 and 20 years respectively, shall apply also to one more category of workers. This is women after 50 years of age having born two or more children if they have the insured length of service at least 20 years and have worked for at least 12 calendar years in the regions of the Far North or at least 17 calendar years in localities of the similar status (on a rotational basis).
In addition to the above, the rules are extended to include the provisions on the particulars of calculation of the length of service on the water transport, as well as the periods of underground work. The amendments introduce a rule requiring to include in the length of work permitting an early assignment of the labour old-age pension the time of the paid forced absenteeism in cases of illegal dismissal or transfer to another job followed by subsequent restoration at the previous place of work permitting an early assignment of the labour old-age pension.
Letter of the Central Bank of Russia No. 45-T of March 31, 2006 on the Explanations on Individual Issues of Application of the Regulation of the Bank of Russia No. 227-P of May 14, 2003 on the Procedure for Keeping Records and Submission of Information on Affiliated Persons of Credit Organisations
Explains individual issues of application of the procedure of keeping records and submission of information on affiliated persons of credit organisations endorsed by the Regulation of the Bank of Russia No. 227-P of May 14, 2003.
Natural persons holding stocks of the legal entity are included in the list of affiliated persons of the credit organisation regardless of the active capacity. If the mentioned natural persons are legally incompetent, affiliated persons of the credit organisation shall also include their trustees. When entering information on the trustee in Form 0409051 "List of Affiliated Persons of the Credit Organisation", Column 10 is used to show codes A2 and/or A3. If the reason of trustee or his ward affiliation is the appurtenance to the group of persons where the credit organisation belongs (code A2), the nature of their interrelation should show in Columns 6, 7 of Form 0409052 relations type "3" and code GL9 (if the trustee is the ward's relative), in other cases, relations type is "5" with code GL2.
The natural persons "fulfilling labour duties in the legal entity" are natural persons having concluded a labour contract with the employer legal entity. Meanwhile, Form 0409051 and Form 0409052 are used to enter only those natural persons having concluded a labour contract with the employer legal entity who may influence significantly activities of the legal entity.
The date when affiliation of the newly elected member of the board of directors of the credit organisation occurs is the initial date of his election as indicated in the protocol of the general meeting of participants of the credit organisation. The date when affiliation of the members of the management bodies of the reorganised credit organisation occurs is determined on the basis of documents certifying the election (appointment) to appropriate positions in the newly formed legal entity.
Credit organisations shall submit reports to the Bank of Russia on affiliated persons as soon as information (including the amendments) is entered in the list of affiliated persons. Responsibility for the transfer of confidential information to the Bank of Russia rests with credit organisations. Territorial institutions of the Bank of Russia may not demand from credit organisations posting appropriate marks on the reports containing passport information of natural persons (Form 0409051). Reports drawn up to Form 0409052 does not contain confidential information.
Natural persons holding stocks of the legal entity are included in the list of affiliated persons of the credit organisation regardless of the active capacity. If the mentioned natural persons are legally incompetent, affiliated persons of the credit organisation shall also include their trustees. When entering information on the trustee in Form 0409051 "List of Affiliated Persons of the Credit Organisation", Column 10 is used to show codes A2 and/or A3. If the reason of trustee or his ward affiliation is the appurtenance to the group of persons where the credit organisation belongs (code A2), the nature of their interrelation should show in Columns 6, 7 of Form 0409052 relations type "3" and code GL9 (if the trustee is the ward's relative), in other cases, relations type is "5" with code GL2.
The natural persons "fulfilling labour duties in the legal entity" are natural persons having concluded a labour contract with the employer legal entity. Meanwhile, Form 0409051 and Form 0409052 are used to enter only those natural persons having concluded a labour contract with the employer legal entity who may influence significantly activities of the legal entity.
The date when affiliation of the newly elected member of the board of directors of the credit organisation occurs is the initial date of his election as indicated in the protocol of the general meeting of participants of the credit organisation. The date when affiliation of the members of the management bodies of the reorganised credit organisation occurs is determined on the basis of documents certifying the election (appointment) to appropriate positions in the newly formed legal entity.
Credit organisations shall submit reports to the Bank of Russia on affiliated persons as soon as information (including the amendments) is entered in the list of affiliated persons. Responsibility for the transfer of confidential information to the Bank of Russia rests with credit organisations. Territorial institutions of the Bank of Russia may not demand from credit organisations posting appropriate marks on the reports containing passport information of natural persons (Form 0409051). Reports drawn up to Form 0409052 does not contain confidential information.
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