Monitoring of the Federal Legislation dated 31.01.2007

Federal Constitutional Law No. 1-FKZ of January 30, 2007 on the Amendments to Articles 7 and 9 of the Federal Constitutional Law on the Government of the Russian Federation <br>

Introduces a prohibition to assign to the position of the Chairman of the Government of the Russian Federation the persons that have foreign citizenship, residence permit or another document confirming the right of permanent residence of the citizen of the Russian Federation on the territory of a foreign state.

      A similar prohibition is introduced for the positions of the Deputy Chairman of the Government of the Russian Federation and the federal ministers.

      The mentioned amendments are intended to provide for the security of the country and are stipulated by the special status of the members of the Government of the Russian Federation.

      The restriction has been introduced earlier for the members of the Council of the Federation, deputies of the State Duma, members of the Security Council, auditors of the Audit Chamber and a number of other positions.

Federal Law No. 6-FZ of January 30, 2007 on the Amendment to Article 21 of the Federal Law on the Main Guarantees of Electoral Rights and the Right to Participate in the Referendum of Citizens of the Russian Federation <br>

Excludes the requirement of obligatory presence with the member of the Central Election Commission of the Russian Federation of the higher legal education or a scientific degree in the sphere of law.

Federal Law No. 7-FZ of January 30, 2007 on the Renaming of the City of Krasnogvardeyskoy of the Krasnogvardeyskoy Region, Belgorod Province, into the City of Biryuch <br>

The city of Krasnogvardeyskoy regains its historical name of Biryuch founded in 1705 through the decree of Peter the Great.

Federal Law No. 8-FZ of January 30, 2007 on the Invalidation of Individual Provisions of Legislative Acts of the Russian Federation <br>

Invalidates individual provisions of the Federal Law on the status of the member of Council of the Federation and the status of the deputy of the State Duma of the Federal Assembly of the Russian Federation having specified that transport vehicles of the members of the Council of the Federation and the deputies of the State Duma were to be outfitted with special state registration plates.

Direction of the Central Bank of Russia No. 1789-U of January 26, 2007 <br>

From January 29, 2007, the interest rate for the overnight credit is fixed in the amount of 10.5% annual.

Direction of the Central Bank of Russia No. 1790-U of January 26, 2007 on the Partial Invalidation of the Provision of the Bank of Russia No. 437 of April 23, 1997 on the Particulars of Registration of Credit Organisations with Foreign Investments and on the Procedure for the Registered Credit Organisation to Obtain a Preliminary Permission of the Bank of Russia to Increase the Registered Capital at the Expense of Resources of Non-Residents <br>

In the Regulation of the Bank of Russia No. 437 of April 23, 1997, omits all provisions specifying the procedure of obtaining a preliminary permission of the Bank of Russia to increase the registered capital of the registered credit organisation at the expense of resources of non-residents. Also omits the provision specifying that the minimum amount of the registered capital of the created affiliated credit organisation of a foreign bank is determined by the normative acts of the Bank of Russia.
The Direction is entered into force from the day of its official publication in the Herald of the Bank of Russia.

Letter of the Central Bank of Russia No. 8-T of January 29, 2007 on the Inclusion of Securities in the Lombard List of the Bank of Russia <br>

The list of securities forming the Lombard List of the Bank of Russia shall include the bonds of the Republic of Bashkortostan with the state registration number of issue RU25005BAS0 and the bonds of the Republic of Komi of the years of 2004 and 2005 with the state registration numbers of issues RU35007KOM0 and RU35008KOM0.