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Daily Monitoring of the Legislation

Monitoring of the Federal Legislation dated 12.05.2006

Decree of the President of the Russian Federation No. 473 of May 11, 2006 "Issues of the Federal Customs Service"

According to the Decree, the Federal Customs Service of the Russian Federation is handed over from the Ministry of Economic Development and Trade of the Russian Federation directly to the Government of the Russian Federation.

The Government of the Russian Federation shall manage the Federal Customs Service directly, including, in particular, assigning to the position and dismissal from it the head of the Federal Customs Service and his deputies.

The functions of the Ministry of Economic Development and Trade of the Russian Federation of working out the state policy and normative and legal regulation in the customs sphere are handed over to the Federal Customs Service of Russia completely.

Appropriate changes are introduced in the Decree of the President of the Russian Federation No. 649 of May 20, 2004 "Issues of the Structure of the Federal Bodies of Executive Power".

The Government of the Russian Federation is ordered to introduce within one month in the State Duma of the Federal Assembly of the Russian Federation the draft federal law on the amendments to legislative acts of the Russian Federation to implement the Decree.

The Decree is entered into force from the day of its official publication.

Order of the Federal Service for Financial Markets No. 06-42/pz-n of April 18, 2006 on the Amendments to the Regulation on the Procedure of Issue by the Federal Service for Financial Markets of the Permission for the Placing and/or Circulation of Emission Securities of Russian Issuers outside the Russian Federation Endorsed by the Order of the Federal Service for Financial Markets of Russia No. 06-5/pz-n of January 12, 2006

The amendments shall create conditions providing for equal rights of investors working at the Russian stock market in the course of circulation of the stocks of Russian joint-stock companies outside the Russian Federation, including those in the form of foreign securities certifying the rights for such stocks.

The amendments envisage that if the holder of stocks of the Russian joint-stock company wants to get the permission for the circulation of his stocks outside the Russian Federation, he must offer them for purchase on the territory of the Russian Federation. Opportunities of purchase of stocks on the territory of the Russian Federation are considered provided if the stocks are offered for purchase at the stock exchange or through a broker rendering sales services to their holder on the basis of a commutative contract concluded with him. Not more than 70% of the total amount of stocks offered for sale may be purchased outside the Russian Federation.

Registered in the Ministry of Justice of the Russian Federation on May 5, 2006. Reg. No. 7784.

Order of the Ministry of Justice of the Russian Federation No. 150 of May 5, 2006 on the Endorsement of the Form of the Certificate of the State Registration of a Non-Commercial Organisation

Since the Decree of the President of the Russian Federation No. 451 of May 2, 2006 empowered the Ministry of Justice of the Russian Federation with authority of the state registration of non-commercial organisations, the Ministry of Justice of Russia endorses the form of the certificate of the state registration of a non-commercial organisation.

The certificate contains the full name of the registered non-commercial organisation, as well as information on the entry of information on the registered organisation in the Joint State Register of Legal Entities and in the agency register of registered non-commercial organisations.

Registered in the Ministry of Justice of the Russian Federation on May 5, 2006. Reg. No. 7781.

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