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Daily Monitoring of the Legislation

Monitoring of the Federal Legislation dated 13.07.2006

Direction of the Central Bank of Russia No. 1693-U of June 6, 2006 on the Amendments to the Regulation of the Bank of Russia No. 230-P of June 4, 2003 on the Reorganisation of Credit Organisations in the Form of a Merger and Incorporation <br>

In view of the changes in the procedure of registration of credit organisations and licensing of bank activities, introduces appropriate changes in submitted documents in the cases of reorganisation in the form of a merger and incorporation of credit organisations.

In case of a merger, the documents are sent to the territorial institution of the Bank of Russia envisaged in the normative act of the Bank of Russia regulating the procedure of registration of credit organisations and licensing of bank activities and a request for the license for bank operations.

In case of incorporation, if the credit organisation requests a new license for bank operations, one copy of the request of the credit organisation for the new license for bank operations is submitted to the territorial institution of the Bank of Russia addressed to the head of the Bank of Russia besides the documents envisaged in the normative act of the Bank of Russia.

The Direction omits the provision requiring the document of payment of the state duty for the license for bank operations.

The Direction is entered into force 10 days after the day of its official publication in the Herald of the Bank of Russia.

Registered in the Ministry of Justice of the Russian Federation on July 4, 2006. Reg. No. 8022.

Order of the Ministry of Economic Development of the Russian Federation No. 144 of May 29, 2006 on the Rules of Organisation and Carrying out of the Contest Among Editorial Boards of Printed Mass Media to Determine the Official Source to Publish Information Envisaged in the Federal Law on Insolvency (Bankruptcy) and on the Prototype Contract on the Procedure and Terms of Publication by the Official Source of Information Envisaged in the Federal Law on Insolvency (Bankruptcy) <br>

Endorses the rules of organisation and carrying out of the contest among editorial boards of printed mass media to determine the official sources to publish information envisaged in the Federal Law on insolvency (bankruptcy) defining the procedure of organisation and carrying out of the open contest to determine the official source for the cases of bankruptcy and bankruptcy proceedings among editorial boards of printed mass media.

The rules shall specify the duties of the contest organiser, the list of information to be contained in the notification of the contest, content of the contest documentation, as well as the requirements to the printed mass media organisations whose editorial boards are permitted to participate in the contest.

The winner of the contest will be the one having proposed the lowest price of publication of the official information in roubles per square centimetre while observing all requirements to the circulation of the publication, periods, time limits of publication, territory of dissemination of the publication. If the prices suggested by the contest participants are the same, the winner is recognised to be the one with the larger circulation. If the price of publication of official information and the circulation of the publication indicated in the requests of the contest participants are the same, the winner of the contest is recognised to be the one whose request was submitted to the contest organiser earlier.

The Order also endorses the prototype contract on the procedure and terms of publication by the official source of information envisaged in the Federal Law on insolvency (bankruptcy).

Registered in the Ministry of Justice of the Russian Federation on July 4, 2006. Reg. No. 8020.

Letter of the Central Bank of Russia No. 92-T of July 4, 2006 on the Rouble Equivalents of the Figures Envisaged in the Direction of the Bank of Russia No. 1346-U of December 1, 2003 <br>

For the III quarter of 2006, the Bank of Russia specifies new rouble equivalents of the minimum amount of the registered capital for created credit organisations, amount of own resources (capital) for operating credit organisations as a prerequisite for creation of their branches on the territory of a foreign state, amount of own resources (capital) for non-bank credit organisations requesting the status of a bank.

The rouble equivalent of the registered capital for created banks, regardless of the share of participation of foreign capital in them, as of the day of submission of documents to the territorial institution of the Bank of Russia must be at least Rbl 169,879,500 (in the II quarter, the equivalent amounted to at least Rbl 167,367,000). For created non-bank credit organisations as of the day of submission of documents - at least Rbl 16,987,950 (in the II quarter - at least Rbl 16,736,700).

The rouble equivalent of own resources (capital) for operating credit organisations requesting the general license for bank operations as of the first of the month preceding the day of submission of documents to the territorial institution of the Bank of Russia must be at least Rbl 169,879,500 (in the II quarter - at least Rbl 167,367,000). For non-bank credit organisations requesting the status of a bank as of the first of the month preceding the day of submission of documents to the territorial institution of the Bank of Russia - at least Rbl 169,879,500 (in the II quarter - at least Rbl 167,367,000).

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