Windfall tax for major companies to be introduced in Russia

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Daily Monitoring of the Legislation

Monitoring of the Federal Legislation dated 23.08.2006

Order of the Government of the Russian Federation No. 1082-r of August 4, 2006 <br>

Endorses the concept of the federal targeted program "Development of the Judicial System of Russia" for the years 2007-2011 adopted in execution of the messages of the President to the Federal Assembly.

The main tasks of the program are providing for the openness and transparency of the judicial system, improvement of confidence in the judicial system, in particular, through improvement of efficiency and quality of processing of cases, creation of necessary conditions for implementation of justice, providing for its affordability, independence of judges, improvement of the level of execution of judicial acts.

To solve the mentioned tasks, it is suggested to introduce information technologies in the work of the judicial system, create reception rooms in all regional courts of general jurisdiction, thus providing for affordability of the judicial system for the citizens, reducing waiting lines in the courts, providing opportunities to submit applications and get information during the whole of the working day, reducing contacts of judges with the parties before the case is processed, excluding conditions for corruption.

To optimise the load for judges, it is suggested to rearrange the jurisdiction of cases between the justices of the peace and the courts of general jurisdiction of the regional level, to define in the courts of arbitration the categories of cases where the cassation and enforcement appealing is not permitted, in other categories of cases, to exclude opportunities of appealing against decisions of the first instance court according to cassation procedure without preliminary appellate. An extra-judicial procedure of solving of disputes will also be introduced.

To provide for independence and objective judgement of court rulings, exclude opportunities of corruption, it is suggested to introduce a prohibition for participation in the cases of lawyers being spouses, close relatives or connections of the judge within the jurisdiction of the court. The judges will be obliged to declare their incomes, property and liabilities including the joint property of spouses.

New buildings will be put in operation to house the courts, monetary resources will be allocated to provide housing to judges and employees of the judicial system.

To speed up execution of judicial acts, it is suggested to create a joint information system of the courts and the Federal Bailiff Service.

The state coordinator of the program is the Ministry of Economic Development of Russia, the state orderers are the Constitutional Court of the Russian Federation, Supreme Court of the Russian Federation, Higher Arbitration Court of the Russian Federation, Judicial Department of the Supreme Court of the Russian Federation, Ministry of Justice of Russia, Federal Bailiff Service of Russia and the Ministry of Economic Development of Russia.

The limiting (forecasted) volume of financing of the program at the expense of resources of the federal budget makes Rbl 48,465.3 million.

Direction of the Central Bank of Russia No. 1700-U of July 4, 2006 on the Invalidation of Individual Normative Acts of the Bank of Russia <br>

From the day of entry into force of the Regulation of the Central Bank of Russia No. 290-P of July 4, 2006, invalidates the Regulation of the Bank of Russia No. 27-P of April 29, 1998 and the Direction of the Bank of Russia No. 222-U of April 29, 1998 defining the procedure of granting permissions of the Bank of Russia to authorised Russian banks to participate in the registered capital of credit organisations abroad.

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

Decision of the Management Board of the State Corporation "Deposit Insurance Agency" of August 10, 2006 (Protocol 47) on the Amendments to the Recommendations on the Procedure of Informing of Depositors by the Banks on Issues of Insurance of Deposits Endorsed by the Decision of the Management Board of the State Corporation "Deposit Insurance Agency" of June 30, 2005 (Protocol 48) <br>

The amendments are stipulated by the entry into force of the Federal Law No. 150-FZ of July 27, 2006 having introduced a stepwise (regressive) scale of reimbursement for the deposits envisaging a full reimbursement within Rbl 100,000 and a partial one when the amount is greater (90%, however, not greater than Rbl 190,000).

Telegram of the Federal Customs Service No. TF-1821 of July 31, 2006 <br>

Pursuant to the entry into force of the Federal Law No. 117-FZ of July 18, 2006 on the export of gas, envisaging the licensing of the exclusive right for export of gas, the customs registration of the exported gas from July 31, 2006 produced in all types of deposits of the hydrocarbon raw materials and transported in gaseous and liquefied condition (codes of the Foreign Trade Commodity Nomenclature of Russia 2709 00, 2711, 2901) shall be arranged in the presence of the license for the exclusive right for export of gas issued by the Ministry of Economic Development of Russia.

The requirements of the mentioned Federal Law do not apply to the export of gas produced under production-sharing agreements concluded before July 31, 2006.

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