Monitoring of the Federal Legislation dated 25.01.2007

Decree of the President of the Russian Federation No. 54 of January 18, 2007 on Some Issues of Military and Technical Cooperation of the Russian Federation with Foreign States

Introduces a new procedure for the Russian organisations for foreign trade activities pertaining to products of military destination. Earlier, the issue was regulated by the Decree of the President of the Russian Federation No. 1062 of September 10, 2005.

The given activities are carried out through the state mediator - specialised federal state unitary enterprise founded at the Decision of the President of the Russian Federation. Organisations developing and making products of military destination meeting specified requirements and having obtained this right earlier shall carry out the given activities where it pertains to supplies of spare parts, units, instruments, component parts, special, teaching and auxiliary items, technical documentation to the earlier supplied products of military destination; works of certification, benchmarking, prolongation of service life, technical maintenance, repair (including modernisation other than requiring scientific research and design works), utilization and other works of complex servicing of the earlier supplied products of military destination; training foreign specialists to carry out the mentioned works. Other terms may be envisaged in the Decision of the President of the Russian Federation or international treaty of the Russian Federation.

Decisions to grant the right of foreign trade activities pertaining to products of military destination to organisations and to deprive of such right shall be taken by the President of the Russian Federation at the presentation of the Government of the Russian Federation.

The Decree regulates the procedure of termination of contract obligations for the organisations having obtained this right before the entry into force of the Decree.

The Decree envisages an obligatory allocation of resources in the amount of the difference between the price of the contract concluded by Rosoboronexport with a foreign client and the price of the contract of commission concluded between the mentioned enterprise and organisations developing and making products of military destination to finance promising developments of arms and military equipment and increase the volumes of issued products of military destination.

The Decree is entered into force from the day of singing.

Order of the Ministry of Finance of the Russian Federation No. 154n of November 27, 2006 on the Endorsement of the Accounting Regulation "Registration of Assets and Liabilities in Foreign Currencies" (PBU 3/2006)

Specifies the particulars of generation by legal entities (except for credit organisations and budget-supported institutions) in accounting work and accounting reports of information on assets and liabilities in foreign currencies (including those due for coverage in roubles).

The Order is entered into force beginning with accounting reports for the year 2007. The organisations must recalculate into roubles in accounting work as of January 1, 2007 the cost of resources in foreign currencies for payments (including the borrowings) with legal entities and natural persons to be covered in roubles according to the terms of contracts (regardless of the time of their conclusion). Underestimated or overestimated cost of the mentioned resources having emerged as a result of the recalculation are included in undistributed profit (uncovered loss).

Registered in the Ministry of Justice of the Russian Federation on January 17, 2007. Reg. No. 8788.

Order of the Federal Agency for Technical Regulation and Metrology of the Ministry of the Industry and Power Supplies of the Russian Federation and the Ministry of Finance of the Russian Federation No. 3086/311/170n of December 11, 2006 on the Amount of Payment for the Requested Information on the Compliance Certificates Available in the Joint Register of Issued Compliance Certificates

Specifies the amount of payment for the information available in the Joint Register of Issued Compliance Certificates provided to requests, making Rbl 26 for one compliance certificate.

Registered in the Ministry of Justice of the Russian Federation on January 19, 2007. Reg. No. 8821.