Monitoring of the Federal Legislation dated 29.05.2007

Federal Law No. 84-FZ of May 17, 2007 on the Amendments to Articles 5 and 23 of the Federal Law on the Special Economic Zone in the Kaliningrad Province and on the Amendments to Some of the Legislative Acts of the Russian Federation, Article 89 of Part 1 of the Tax Code of the Russian Federation and Articles 288.1 and 385.1 of the Tax Code of the Russian Federation

According to the amendments, the resident must be excluded from the Joint Register of Residents of the Special Economic Zone in the Kaliningrad Province if the record stating that the legal entity is in the process of liquidation is entered in the Register, rather than in the case of liquidation of the legal entity.
      The Federal Law is entered into force one month after the day of its official publication except for the changes in the Tax Code. The mentioned amendments are entered into force one month after the day of official publication of the Federal Law and no sooner than the 1st of the subsequent tax period for the appropriate tax.

Decision of the Government of the Russian Federation No. 320 of May 26, 2007 on the Exemption from Customs Duties and Taxes of Vessels Temporarily Imported to the Customs Territory of the Russian Federation for Storage of Exported Oil Products

The vessels used as storage devices for the export of oil products (Heading 8901 of the Foreign Trade Commodity Nomenclature of Russia) and owned by foreign entities on condition of their use in Russian ports open for international transportation are temporarily imported to the customs territory of the Russian Federation while being fully exempted from customs duties and taxes for 1 year.
      The Decision applies to legal relations emerging from May 1, 2007.

Decision of the Government of the Russian Federation No. 318 of May 24, 2007 on the State Forestry Register

The State Forestry Register is a summary of documented information on the forests, their use, protection, reproduction, on forestry farms and parks.

Decision of the Government of the Russian Federation No. 313 of May 24, 2007 on the Amendments to the Regulation on the Ministry of Natural Resources of the Russian Federation

The sphere of reference of the Ministry of Natural Resources of Russia is being brought in compliance with the new Forestry Code.

Order of the Federal Service for Financial Markets No. 07-44/pz-n of April 12, 2007 on the Amendments to the Regulation on the Information to Be Disclosed by Issuers of Emission Securities Endorsed by the Order of the Federal Service for Financial Markets of Russia No. 06-117/pz-n of October 10, 2006

In view of the introduction of a new type of security – Russian depositary receipt – introduces appropriate amendments to the Regulation on the information to be disclosed by issuers of emission securities.
      Registered in the Ministry of Justice of the Russian Federation on May 23, 2007. Reg. No. 9540.

Order of the Ministry of Economic Development of the Russian Federation No. 147 of April 26, 2007 on the Administrative Regulation for the Federal Agency of Cadastre of Objects of Immovable Property to Render the State Service of Providing Information on the Objects of Capital Construction to Interested Parties

Specifies the sequence of actions for the Federal Agency of Cadastre of Objects of Immovable Property and its territorial bodies when they render the state service of providing information on the objects of capital construction to the interested parties (applicants).
      The Regulation is entered into force on the stepwise basis: beginning with July 1, 2007 and later with the periods of one year (from July 1, 2008, from July 1, 2009) on the territory of individual subjects of the Russian Federation and from July 1, 2010 – on the territory of the Russian Federation.
      Registered in the Ministry of Justice of the Russian Federation on May 23, 2007. Reg. No. 9530.

Order of the Federal Tax Service No. MM-3-10/187@ of April 2, 2007 on the Endorsement of the Form of the Decision on the Adjustment of Payment and Its Filling Procedure

If the taxpayer reveals an error in the order for the transfer of the tax that did not imply a failure to transfer the tax to the budget system of the Russian Federation to the appropriate account of the Federal Treasury, the taxpayer may appeal to adjust the grounds, type and affiliation of the tax, the tax period or the payer status.
      Registered in the Ministry of Justice of the Russian Federation on May 23, 2007. Reg. No. 9528.

Order of the Federal Service for Financial Markets No. 07-50/pz-n of April 24, 2007 on the Endorsement of the Normatives of Sufficiency of Own Resources of Professional Participants of the Securities Market, As Well As the Management Companies of Investment Funds, Shared Investment Funds and Non-State Pension Funds

One of the obligatory license requirements and prerequisites is compliance of own resources of professional participants with the normatives of sufficiency specified by the Federal Service for Financial Markets of Russia.
      The Order is entered into force from January 1, 2008.
      Registered in the Ministry of Justice of the Russian Federation on May 22, 2007. Reg. No. 9525.

Direction of the Central Bank of Russia No. 1828-U of May 14, 2007 on the Amendments to the Instruction of the Bank of Russia No. 109-I of January 14, 2004 on the Procedure for the Bank of Russia to Take the Decision on the State Registration of Credit Organisations and Issue of Licenses for Bank Operations

Cash dispensers and terminals intended for acceptance of cash from clients and its storage and owned by the founder of the credit organisation may be included in the registered capital of the credit organisation.
      The Direction is entered into force from 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 May 22, 2007. Reg. No. 9521.

Order of the Ministry of the Industry and Power Supplies of the Russian Federation No. 138 of April 24, 2007 on the Organisation of Work in the Ministry of the Industry and Power Supplies of Russia to Confirm the Designated Use of Imported Equipment for the Paper-and-Pulp Industry

Endorses the procedure defining organisation of work and terms of issue of the confirmation of the designated use of programmable controllers with memory used in the equipment for production of pulp of fibrous cellulose materials or for making or finishing paper or paperboard (code according to the Foreign Trade Commodity Nomenclature 10 910 1) imported by organisations regardless of their organisational and legal form and agency affiliation. According to the Decision of the Government of the Russian Federation No. 718 of November 27, 2006, the mentioned commodities are imported using the zero rate of the customs duty on condition of confirmation of their use for designated purposes by the Ministry of the Industry and Power Supplies of Russia.
      Registered in the Ministry of Justice of the Russian Federation on May 22, 2007. Reg. No. 9518.

Direction of the Central Bank of Russia No. 1820-U of April 24, 2007 on the Amendment to the Direction of the Bank of Russia No. 1542-U of January 13, 2005 on the Particulars of Bank Checks Carried out by the Employees of the State Corporation “Deposit Insurance Agency”

Bank checks pertaining to the volume and structure of obligations of these banks to depositors, payment of insurance contributions, as well as execution of other obligations by the banks specified by the Federal Law on the insurance of the deposits of natural persons in the banks of the Russian Federation shall be carried out by the authorised representatives of the Central Bank of Russia with participation of the employees of the state corporation “Deposit Insurance Agency”.
      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 May 22, 2007. Reg. No. 9512.

Order of the Federal Service for Financial Markets No. 07-49/pz-n of April 23, 2007 on the Amendments to the Order of the Federal Service for Financial Markets No. 06-69/pz-n of June 22, 2006 on the Territorial Bodies of the Federal Service for Financial Markets

A new subject of the Russian Federation is formed as a result of the merger of the Irkutsk Province and the Ust-Ordynsk Buryat Autonomous District from January 1, 2008 – the Irkutsk Province. Appropriate changes are introduced in the Order of the Federal Service for Financial Markets of Russia No. 06-69/pz-n of June 22, 2006 where they pertain to the description of the territory covered by the Regional Division of the Federal Service for Financial Markets in the East-Siberian Region.
      The Order is entered into force from January 1, 2008.
      Registered in the Ministry of Justice of the Russian Federation on May 22, 2007. Reg. No. 9511.

Order of the Federal Service for Financial Monitoring No. 88 of April 13, 2007 on the Endorsement of the Regulation on the Federal Service for Financial Monitoring

The endorsed Regulation on the Federal Service for Financial Monitoring specifies general rules of internal organisation of the service and the procedure of its interaction with the Ministry of Finance of Russia.
      Registered in the Ministry of Justice of the Russian Federation on May 22, 2007. Reg. No. 9509.