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Monitoring of the Federal Legislation dated 29.12.2007

Federal Law No. 287-FZ of November 29, 2007 on the Amendments to the Law of the Russian Federation on the Organisation of Insurance Activities in the Russian Federation and to Some Other Legislative Acts of the Russian Federation

The amendments refine the procedure of regulation of activities, including the licensing, of mutual insurance companies insuring their members only.

Federal Law No. 286-FZ of November 29, 2007 on the Mutual Insurance

The Federal Law is adopted to implement Article 968 of the Civil Code of the Russian Federation ("Mutual Insurance") and defines the status, principles, restrictions and particulars of activities of non-commercial mutual insurance companies, as well as the rights and duties of their participants.
      The Federal Law is entered into force from the day of its official publication, except for the provision on the licensing of activities of mutual insurance entering into force from July 1, 2008.

Federal Law No. 283-FZ of November 29, 2007 on the Amendments to the Federal Law on the Export Control

The amendments are stipulated by the need to adapt some norms of the Federal Law to the new challenges and hazards to the state security in the sphere of foreign trade activities, including the tasks of combating international terrorism.
      The Federal Law is entered into force from January 1, 2008.

Federal Law No. 280-FZ of November 29, 2007 on the Amendments to Article 2.1 of the Federal Law on the Amendments to Part 2 of the Tax Code of the Russian Federation and Some Other Acts of the Legislation of the Russian Federation on Taxes and Fees, As Well As on Invalidation of Individual Acts (Provisions of Acts) of the Legislation of the Russian Federation on Taxes and Fees

To improve the financial standing of agricultural producers, extends the period of application of the zero percent tax rate for the profit tax until January 1, 2009, and tax exemptions for the profit tax from agricultural producers granted as a measures of state support until they switch over to the uniform agricultural tax are extended until December 31, 2015.
      The Federal Law is entered into force from January 1, 2008, however, no sooner than one month from the day of its official publication.

Federal Law No. 277-FZ of November 29, 2007 on the Ratification of the Agreement on the Uniform Procedure of Export Control of the Member-States of the Eurasia Economic Community

The goals of the Agreement signed in Moscow on October 28, 2003 is creation of favourable conditions for an efficient functioning of the single economic and customs market zone, promotion of development of balanced, mutually beneficial trade and scientific and technical ties between the member-states, enhancing of non-proliferation of mass destruction weapons and means of their delivery, as well as protection of national interests and security of the states of the Community.

Federal Law No. 276-FZ of November 29, 2007 on the Suspension of the Conventional Forces in Europe Treaty by the Russian Federation

The Russian Federation suspends the Conventional Forces in Europe Treaty.
      The Federal Law is entered into force from the day of its official publication.

Federal Law No. 321-FZ of December 3, 2007 on the Amendments to Article 36 of the Law of the Russian Federation on the Customs Tariff

Changes the basic period of distribution of the tariff quota for the cases of import of commodities to the customs territory of the Russian Federation.

Federal Law No. 318-FZ of December 1, 2007 on the Amendments to Individual Legislative Acts of the Russian Federation pursuant to the Adoption of the Federal Law on the State Corporation of Nuclear Power Rosatom

The amendments are stipulated by the creation of the state corporation Rosatom empowered with the governmental authority of management of the use of nuclear power, safety of use of nuclear power, implementation of the functions of the state ordering party for the state defence order in the specified sphere of activities, management of the state reserve of the special raw materials, as well as the implementation of the rights of the owner of a number of federal state unitary enterprises and institutions.

Federal Law No. 317-FZ of December 1, 2007 on the State Corporation of Nuclear Power Rosatom

Creates a special corporation uniting the enterprises of the nuclear power industry - the state corporation of nuclear power Rosatom.
      The Federal Law is entered into force from the day of its official publication.

Federal Law No. 315-FZ of December 1, 2007 on the Self-Regulating Organisations

Specifies the legal fundamentals of activities of self-regulating organisations which is a special institute of professional public self-regulation uniting the persons engaged in entrepreneurial or other professional activities.

Federal Law No. 314-FZ of December 1, 2007 on the Amendment to Article 105 of the Air Code of the Russian Federation

Extends the list of transportation documents.

Federal Law No. 310-FZ of December 1, 2007 on the Organisation of the XXII Winter Olympic Games and the XI Winter Paralympic Games of 2014 in the City of Sochi, Development of the City of Sochi As a Mountain Resort and on the Amendments to Individual Legislative Acts of the Russian Federation

Regulates relations pertaining to the organisation of the XXII Winter Olympic Games and the XI Winter Paralympic Games of 2014, as well as the development of the city of Sochi as a mountain resort.
      The Federal Law is entered into force from the day of its official publication, except for individual provisions where other time limits for the entry into force are specified.

Federal Law No. 307-FZ of December 1, 2007 on the Amendments to Individual Legislative Acts of the Russian Federation Permitting Associations of Employers to Take Part in the Development and Implementation of the State Policy in the Sphere of Professional Education

The Federal Law is expected to provide for participation of associations of employers as the main consumers of specialists trained in the system of professional education in the development and implementation of the state policy in the sphere of professional education.

Federal Law No. 303-FZ of December 1, 2007 on the Invalidation of Individual Provisions of Legislative Acts of the Russian Federation

The procedure of opening of accounts of the debtor credit organisation in foreign currencies in the course of bankruptcy proceedings is being brought in compliance with the Federal Law on the protection of competition.

Federal Law No. 302-FZ of December 1, 2007 on the Amendments to Article 8 of the Federal Law on the State Regulation of Production and Circulation of Ethyl Alcohol, Alcoholic and Alcohol-Containing Products

The amendments optimise the volume and content of information contained in the Joint State Automatic Information System of registration of the volume of production and circulation of ethyl alcohol, alcoholic and alcohol-containing products.
      The Federal Law is entered into force from January 1, 2008.

Federal Law No. 301-FZ of December 1, 2007 on the Amendment to Article 2 of the Federal Law on the Amendments to the Federal Law on the State Regulation of Production and Circulation of Ethyl Alcohol, Alcoholic and Alcohol-Containing Products and on Invalidation of Individual Provisions of the Federal Law on the Amendments to the Federal Law on the State Regulation of Production and Circulation of Ethyl Alcohol, Alcoholic and Alcohol-Containing Products

Shifts from January 1, 2008 to January 1, 2009 the time limit for the entry into force of the provisions specifying that production of ethyl alcohol involving draff is permitted only on condition of its full processing or utilisation at purification facilities.

Federal Law No. 300-FZ of December 1, 2007 on the Amendments to the Federal Law on Non-Commercial Organisations

Communities of small native peoples of the Russian Federation are included in non-commercial organisations.

Federal Law No. 298-FZ of December 1, 2007 on the Ratification of the Convention between the Government of the Russian Federation and the Government of the Greek Republic on Avoidance of Double Taxation and Prevention of Avoidance of Payment of Taxes for the Tax on Incomes and the Tax on Capital

Ratifies the Convention between the Government of the Russian Federation and the Government of the Greek Republic on avoidance of double taxation and prevention of avoidance of payment of taxes for the incomes and capital taxes signed in Moscow on June 26, 2000.

Federal Law No. 297-FZ of December 1, 2007 on the Ratification of the Agreement between the Government of the Russian Federation and the Government of the Republic of Cuba on the Settlement of the Debt of the Republic of Cuba to the Russian Federation under the Credits Earlier Granted by the Russian Federation

The ratified Agreement settles the problems of the debts of the Republic of Cuba under the credits provided by the Russian Federation under the Agreement between the Government of the Russian Federation and the Government of the Republic of Cuba on the economic and scientific and technical cooperation in 1993-1996 and the Protocol between the Government of the Russian Federation and the Government of the Republic of Cuba on the procedure of financing of works of construction of the nuclear power station of Huragua in the transient period before adoption of the final decisions on the object.

Federal Law No. 295-FZ of December 1, 2007 on the Amendment to Article 10 of the Law of the Russian Federation on Subsoil Resources

Differentiates the limiting period of geological investigation of subsoil resources depending on the territory and climatic particulars of individual parts of subsoil resources.

Federal Law No. 294-FZ of December 1, 2007 on the Amendments to Articles 4 and 18 of the Law of the Russian Federation on the State Secret

The amendments envisage opportunities of transfer of information comprising the state secret to international organisations.

Federal Law No. 332-FZ of December 4, 2007 on the Amendments to Individual Legislative Acts of the Russian Federation to Improve the Procedure of Use of the Air Space

Pursuant to the creation of the Joint Air and Space Search System, refines the procedure of search and rescue operations for the air vessels, their passengers and crews.

Federal Law No. 331-FZ of December 4, 2007 on the Amendments to the Air Code of the Russian Federation

Enhances insurance protection of passengers of air vessels.

Federal Law No. 330-FZ of December 4, 2007 on the Amendments to the Code of Civil Procedures of the Russian Federation

The amendments improve the procedure of appealing against court rulings.

Federal Law No. 327-FZ of December 4, 2007 on the Amendments to Article 1 of the Federal Law on the Military and Technical Cooperation of the Russian Federation with Foreign States and Article 25.5 of the Federal Law on the Procedure to Exit the Russian Federation and Enter the Russian Federation

The amendments refine the set of notions and the composition of participants of the military and technical cooperation, as well as solve the visa issue for the foreign citizens engaged in the military and technical cooperation.

Federal Law No. 326-FZ of December 4, 2007 on the Amendment to Article 85.1 of the Air Code of the Russian Federation

Introduces a new rule providing for the transfer of personal information on passengers of air vessels to automatic centralised databases in compliance with the legislation on transportation safety.

Federal Law No. 325-FZ of December 4, 2007 on the Amendments to Article 36 of the Federal Law on the Banks and Banking Activities

Introduces a rule permitting to attract monetary resources of natural persons to a newly registered bank or a bank less than two years after the state registration if: the amount of the registered capital of the newly registered bank or an operating bank makes at least EUR 100 millions in the rouble equivalent; the bank observes the duty to disclose information on the persons exerting a significant influence on the decisions taken by the bank's management bodies.

Decision of the Government of the Russian Federation No. 818 of November 30, 2007 on the Amendment to the Decision of the Government of the Russian Federation No. 795 of December 23, 2006 for Sulphur, Raw or Non-Refined

The amendments introduce the zero rate of the export customs duty for the raw or non-refined sulphur (code according to the Foreign Trade Commodity Nomenclature of Russia 2503 00 100 0).

Decision of the Government of the Russian Federation No. 812 of November 26, 2007 on the Endorsement of the Rules of Arranging the Contest to Choose the Specialised Depositary to Conclude the Contract for the Services of a Specialised Depositary to the Federal Body of Executive Power in Charge of the Accumulate Mortgage System of Housing Support for Servicemen and the Rules of Determination of the Aggregate Weighted Value (Rating) of the Specialised Depositary to Conclude the Contract for the Services of a Specialised Depositary to the Federal Body of Executive Power in Charge of the Accumulated Mortgage System of Housing Support for Servicemen

Endorses amendments to the above rules.

Order of the Ministry of Finance of the Russian Federation No. 108n of November 13, 2007 on the Endorsement of the List of States and Territories Providing Tax Exemptions and/or Not Requiring Disclosure of Information on Financial Operations (Off-Shore Zones)

Specifies amendments to the taxation of profits in the form of dividends.

Order of the Federal Customs Service No. 1351 of October 31, 2007 on the Endorsement of the Administrative Regulation of the Federal Customs Service on the Execution of the State Function of Keeping of the State Register of Customs Carriers

Defines the time limits and the sequence of actions (administrative procedures) for the Federal Customs Service of Russia, as well as the procedure of interaction of divisions of the Federal Customs Service of Russia and the regional customs departments in execution of the state function of keeping of the State Register of Customs Carriers.

Order of the Ministry of Economic Development of the Russian Federation No. 401 of November 19, 2007 on the Deflator Coefficient for the Year 2008

In 2008, the deflator coefficient necessary for the calculation of the taxable base for the uniform imputed income tax is fixed in the amount of 1.081. At present, the figure is 1.096.

Decision of the Government of the Russian Federation No. 815 of November 29, 2007 on the Amendments to Some Acts of the Government of the Russian Federation on Multiple Communication Services

Adjusts the procedure of providing multiple communication services and the rules of state regulation of tariff rates for the mentioned services.

Order of the Federal Service for Financial Markets No. 07-99/pz-n of September 20, 2007 on the Endorsement of the Administrative Regulation on the Execution by the Federal Service for Financial Markets of the State Function of Coordination of Codes of Professional Ethics of Brokers, Management Companies, Specialised Depositaries and Non-State Pension Funds

Regulates execution by the Federal Service for Financial Markets of the state function of coordination of codes of professional ethics of brokers, management companies, specialised depositaries and non-state pension funds.

Direction of the Central Bank of Russia No. 1918-U of November 26, 2007 on the Adjustment of Individual Acts of the Bank of Russia and Non-Application on the Territory of the Russian Federation of Individual Acts of the State Bank of the USSR

From January 1, 2008, a new Regulation of the Central Bank of Russia is entered into force to define uniform legal and methodology fundamentals of accounting work obligatory for execution by all credit organisations on the territory of the Russian Federation.

Order of the Federal Service for Financial Markets No. 07-106/pz-n of October 25, 2007 on the Public Council of Participants of the Financial Market of the Federal Service for Financial Markets

Endorses the Regulation defining the sphere of reference, procedure of forming and activities of the Public Council.

Federal Law No. 336-FZ of December 6, 2007 on the Amendments to Articles 7 and 11 of the Federal Law on the Securities Market

Depositaries created in the form of a non-commercial partnership are permitted to reorganise themselves into joint-stock companies.

Federal Law No. 335-FZ of December 6, 2007 on the Amendments to Article 188 of the Criminal Code of the Russian Federation and Article 151 of the Code of Criminal Procedures of the Russian Federation

Adjusts some provisions of the Code of Criminal Procedures of the Russian Federation empowering the bodies of control of circulation of narcotic drugs and psychotropic substances with authority of investigation of crimes associated with smuggling of analogues of narcotic drugs and psychotropic substances, as well as the tools and equipment used for production of narcotic drugs and psychotropic substances.

Federal Law No. 333-FZ of December 6, 2007 on the Amendments to the Federal Law on Fishing and Conservation of Aquatic Biological Resources and to Individual Legislative Acts of the Russian Federation

The Federal Law includes a number of new provisions and legal norms in the sphere of fishing enhancing the state regulation of activities of the fishery complex of the Russian Federation, defining the procedure and principles of distribution of quotas of the catch of aquatic biological resources among the users and creating conditions for combating poaching by economic methods.

Decision of the Government of the Russian Federation No. 841 of December 4, 2007 on the Cost of Living in Per Capita Figures and for the Main Socio-Demographic Groups of Population for the Whole of the Russian Federation (by Quarters) for the Period from 2005 through the II Quarter of 2007

Fixes the cost of living for the mentioned period.

Federal Law No. 334-FZ of December 6, 2007 on the Amendments to the Federal Law on Investment Funds and to Individual Legislative Acts of the Russian Federation

Improves state control over activities of joint-stock investment funds, management companies, specialised depositaries and non-state pension funds.

Decision of the Government of the Russian Federation No. 844 of December 6, 2007 on the Amendments to the Customs Tariff of the Russian Federation for Individual Types of Civil Aircraft

The rate of the import customs duty for civil aircraft with the number of seats greater than 300 (code according to the Foreign Trade Commodity Nomenclature of Russia 8802 40 000 5) is reduced for 9 months from 20% to 0% of the customs cost per plane.

Decision of the Government of the Russian Federation No. 831 of December 1, 2007 on the Endorsement of the Rules of Working out of the List of Products of Military Destination Permitted for Transfer to Foreign Ordering Parties and the Rules of Working out of the List of States Permitted for Transfer of Products of Military Destination Mentioned in the List of Products of Military Destination Permitted for Transfer to Foreign Ordering Parties

Introduces a new procedure of working out of the list of products of military destination permitted for transfer to foreign ordering parties and the list of states where the transfer of the mentioned products is permitted.

Order of the Ministry of Public Health and Social Development of the Russian Federation No. 607 of September 17, 2007 on the List of Occupations (Positions) and Jobs Permitting the Foreign Citizen or Stateless Person Staying (Living) Temporarily in the Russian Federation in Cases Specified by the Government of the Russian Federation to Be Employed outside the Subject of the Russian Federation Having Issued the Permission for Employment (Temporary Residence)

Defines the list of occupations (positions) and jobs permitting a foreign citizen or stateless person staying or living temporarily in the Russian Federation to be employed outside the subject of the Russian Federation having issued the permission for employment or temporary residence.

Order of the Federal Tax Service No. MM-3-05/645@ of November 22, 2997 on the Endorsement of the Form of the Certificate of the Amounts of the Uniform Social Tax Paid for the Expired Tax Period by the Board of Lawyers, Lawyer Office or Legal Advice Company for the Lawyer

Specifies the form of the above certificate.

Order of the Ministry of Finance of the Russian Federation No. 113n of November 21, 2007 on the Amendment to the Order of the Ministry of Finance of the Russian Federation No. 136n of November 7, 2006 on the Endorsement of the Form of the Tax Declaration for the Value Added Tax and Its Filling Procedure

Refines the list of codes of operations used to fill the tax declaration for the value added tax.

Regulation of the Central Bank of Russia No. 313-P of November 14, 2007 on the Procedure of Calculation of the Amount of Market Risk by Credit Organisations

Endorses the Regulation defining the procedure of calculation of the amount of market risk by credit organisations.

Decision of the Government of the Russian Federation No. 845 of December 6, 2007 on the Amendments to the Decisions of the Government of the Russian Federation No. 481 of September 17, 2004 and No. 514 of October 2, 2004

Brings in compliance with the new part of the Civil Code of the Russian Federation the Decisions of the Government of the Russian Federation on the list of the federal bodies of executive power authorised to issue the statement attached to the request for the registration and granting the right of use of the name of the place of origin of the commodity and the request for the right of use of already registered place of origin of the commodity and on the federal bodies of executive power authorised to process the patent request for the invention containing information comprising the state secret.

Decision of the Government of the Russian Federation No. 813 of November 29, 2007 on the Amendments to the Decision of the Government of the Russian Federation No. 679 of November 11, 2005

Provides a new wording of the main requirements to the working out and endorsement by the federal bodies of executive power of administrative regulations on the execution of the state functions (providing state services).

Decision of the Central Election Commission of the Russian Federation No. 72/591-5 of December 8, 2007 on to the Results of Elections of Deputies of the State Duma of the Federal Assembly of the Russian Federation of the Fifth Convocation.

Elections of deputies of the State Duma of the Federal Assembly of the Russian Federation of the fifth convocation are recognised as accomplished and valid.

Order of the Ministry of Economic Development of the Russian Federation No. 304 of September 7, 2007 on the Endorsement of the Norms of Natural Loss of Foodstuffs in the Trade and Public Catering Sphere

Specifies the norms of natural loss of foodstuffs in the trade and public catering sphere.

Direction of the Central Bank of Russia No. 1907-U of November 14, 2007 on the Amendments to the Regulation of the Bank of Russia No. 283-P of March 20, 2006 on the Procedure of Forming of Reserves for Possible Losses by Credit Organisations

From January 1, 2008, the lack of quotations for the earlier quoted securities will be taken into account instead of the lack of the market cost of the earlier quoted securities.

Order of the Ministry of Agriculture of the Russian Federation No. 597 of November 29, 2007 on the Procedure of Granting of Subsidies in 2007 from the Federal Budget to the Budgets of the Subjects of the Russian Federation to Reimburse the Damage Incurred on Agricultural Producers Arising from the Perish of Agricultural Crops and Plantations of Perennial Fruits because of the Abnormal Hydrometeorology Conditions in 2007

The subsidies are allocated for partial reimbursement of the damage incurred on agricultural producers (except for the citizens engaged in auxiliary farming and agricultural consumer cooperatives).

Decree of the President of the Russian Federation No. 1665 of December 12, 2007 on the First Session of the State Duma of the Federal Assembly of the Russian Federation of the Fifth Convocation

The first session of the State Duma of the Federal Assembly of the Russian Federation of the fifth convocation is assigned on December 24, 2007 at midday.

Order of the Federal Service of Labour and Employment No. 211 of September 11, 2007 on the Endorsement of the Regulation on the Federal Service of Labour and Employment

Works out internal rules of the Federal Service of Labour and Employment to implement its authority.

Order of the Federal Antimonopoly Service No. 378 of November 14, 2007 on the Endorsement of the Procedure to Qualify the Cases of Manipulation of Prices for Electric Power at the Wholesale Market of Electric Power

Describes the rules for the system administrator, network organisation to identify and stop the cases of manipulation of prices for electric power on the part of the participants of the wholesale market of eclectic power.

Regulation of the Central Bank of Russia No. 312-P of November 12, 2007 on the Procedure for the Bank of Russia to Grant Credits Secured with Assets to Credit Organisations

Changes the requirements to the borrower banks.

Direction of the Central Bank of Russia No. 1948-U of December 7, 2007 on the Amendments to the Direction of the Bank of Russia No. 1376-U of January 16, 2004 on the List, Forms and Procedure of Drawing up and Submission of the Forms of Reports of Credit Organisations to the Central Bank of the Russian Federation

Provides new interpretations for the calculation of figures used to assess financial stability of credit organisations.

Direction of the Central Bank of Russia No. 1906-U of November 14, 2007 on the Amendment to Subitem 1.8.2 of Item 1.8 of the Instruction of the Bank of Russia No. 124-I of July 15, 2005 on the Amounts (Limits) of the Open Foreign Exchange Positions, Method of Their Estimation and Particulars of Enforcement of Their Observation by Credit Organisations

When an options contact is concluded where the basic asset is securities in foreign currencies, their current market cost is determined according to the procedure envisaged for the determination of the current (fair) cost of securities as described in the accounting procedure for investments in securities and operations with securities.

Letter of the Federal Tax Service No. SK-6-09/902@ of November 20, 2007 on the Procedure of Signing of the Application for the Registration of the Russian Organisation in the Tax Body at the Place of Location of Its Separate Division on the Territory of the Russian Federation

The application for the registration of the Russian organisation in the tax body at the place of location of its separate division on the territory of the Russian Federation is signed by the official entitled to act on behalf of this organisation without a proxy.

Letter of the Federal Tax Service No. SK-6-09/887@ of November 15, 2007 on the Information Interaction with the Banks for the Cases of Exchange of Information of the Opening or Closing of the Account, of the Change of Account Details on Paper

From November 17, 2007, information interaction in the cases of exchange of information of the opening or closing of the account, of the change of account details on paper is recommended to the tax bodies only with the banks and bank branches that have a bank identification code (BIK) of the participant of payments on the territory of the Russian Federation.

Decision of the Government of the Russian Federation No. 867 of December 12, 2007 on the General Licenses for the Export of Refined Gold and Silver in Ingots Granted to Credit Organisations

Credit organisations possessing licences of the Central Bank of the Russian Federation for operations with precious metals may get general licenses for the export of refined gold and silver in ingots.

Decision of the Government of the Russian Federation No. 855 of December 12, 2007 on the Interim Rates of Import Customs Duties for Grape Stems and Offshoots

Reduces for 9 months from 15% to 5% of the customs cost the rates of import customs duties for grape stems and offshoots (codes according to the Foreign Trade Commodity Nomenclature of Russia 0602 10 100 0 and 0602 20 100 0).

Order of the Federal Service for Tariff Rates No. 410-t/b of December 4, 2007 on the Amendments to Price List 10-01 "Tariff Rates for Cargo Transportation and the Services of Infrastructure Provided by the Russian Railways"

Introduces a number of new rules for cargo transportation by railways.

Direction of the Central Bank of Russia No. 1912-U of November 15, 2007 on the Amendments to the Regulation of the Bank of Russia No. 198-P of October 7, 2002 on the Procedure of Calculation and Collection of Payment for the Clearing Services of the Bank of Russia

Adjusts the procedure of calculation and collection of payment for the clearing services provided by institutions of the Bank of Russia to their clients.

Order of the Ministry of Transport of the Russian Federation No. 150 of October 22, 2007 on the Endorsement of the Rules of Cargo Transportation in Trains Consisting of Locomotives and Cars Owned on the Proprietary Basis or Otherwise by Consignors, Consignees, Other Legal Entities and Natural Persons Other Than the Carriers of the Railway Transport

Specifies the procedure and defines the terms of cargo transportation on the railway transport in trains formed of locomotives and cars owned by consignors, consignees on the proprietary basis or otherwise, including the leased ones, as well as other legal entities or natural persons, except for the carrier.

Direction of the Central Bank of Russia No. 1904-U of November 12, 2007 on the Requirements of the Bank of Russia to the Accounting Figures and Other Information on Organisations Liable under Promissory Notes (Credit Contracts) Granted by Credit Organisations As a Security for the Credits of the Bank of Russia

Specifies the requirements to accounting figures and other information on the organisations that have liabilities under promissory notes (credit contracts).

Decision of the Government of the Russian Federation No. 877 of December 15, 2007 on the Endorsement of the List of Commodities Important for the Internal Market of the Russian Federation and Subject to Temporary Export Restrictions or Prohibitions in Exclusive Cases

According to the Federal Law on the fundamentals of state regulation of foreign trade activities, the Government of the Russian Federation may impose in exclusive cases temporary restrictions or prohibitions for the export of commodities to prevent or reduce a critical shortage at the internal market of the Russian Federation of foodstuffs or other commodities important for the internal market of the Russian Federation.

Decision of the Government of the Russian Federation No. 872 of December 15, 2007 on the Creation and Regulation of Activities of Federal Public Enterprises

Endorses the rules specifying the particulars of creation and regulation of activities of federal public enterprises.

Letter of the Federal Tax Service No. SK-6-11/977@ of December 18, 2007 on the Information Necessary for the Calculation of the Tax on Extraction of Mineral Resources for Oil for November 2007

Provides information used in the calculation of the tax on extraction of mineral resources for oil for November 2007. The rate for oil increased as compared to the previous tax period because of the growth of prices for oil.

Order of the Federal Service for Financial Markets No. 07-108/pz-n of November 13, 2007 on the Endorsement of the Regulation on the Checks of Organisations Where Control and Enforcement Is Vested in the Federal Service for Financial Markets

Adjusts the requirements to the cameral and extraordinary on-site checks.

Direction of the Central Bank of Russia No. 1933-U of November 27, 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

Amends the documentation necessary for the Bank of Russia to take the decision on the state registration of credit organisations and issue of licenses for bank operations.

Decision of the Government of the Russian Federation No. 896 of December 19, 2007 on the Endorsement of the Rules of Building and Keeping of the Register of Economic Subjects with the Share of Market of a Certain Commodity in the Amount Greater Than 35%

Inclusion in the Register of information on the economic subject is done regardless of the place of its state registration at the decision of the Federal Antimonopoly Service of Russia if the economic subject has a share in the amount of more than 35% at the appropriate market of the Russian Federation on the whole.

Order of the Ministry of Finance of the Russian Federation No. 131n of December 14, 2007 on the Amendments to the Procedure of Execution of the Summary Budget List of the Federal Budget for the Year 2007 and Amendments to It Endorsed by the Order of the Ministry of Finance of the Russian Federation No. 163n of December 8, 2006

Adjusts the procedure of introduction of amendments by the chief administrators of budget resources to the summary budget list of the federal budget for the year 2007.

Decision of the Government of the Russian Federation No. 913 of December 21, 2007 on the Interim Rates of Import Customs Duties for Cement and Items of It

Introduces for 9 months the rates of import customs duties for cement and items of it.

Decision of the Government of the Russian Federation No. 898 of December 20, 2007 on the Endorsement of the Rate of Import Customs Duty for Parts and Accessories for Weighing Instruments with the Measuring Accuracy of 0.05 g or Higher

From December 27, 2007, introduces on the permanent basis the zero rate of the import customs duty for parts an accessories for weighing instruments with the measuring accuracy of 0.05 g or higher (code according to the Foreign Trade Commodity Nomenclature of Russia 9016 00 900 0).

Decree of the President of the Russian Federation No. 1740 of December 23, 2007 on the Place of Permanent Residence of the Constitutional Court of the Russian Federation

The Constitutional Court of the Russian Federation will move to St.Petersburg between February 1 to May 20, 2008.

Direction of the Central Bank of Russia No. 1951-U of December 17, 2007 on the Amendments to the Regulation of the Bank of Russia No. 255-P of March 29, 2004 on the Obligatory Reserves of Credit Organisations

Pursuant to the entry into force from January 1, 2008 of the new rules of accounting work in credit organisations located on the territory of the Russian Federation, adjusts the composition of reserved obligations of the credit organisation.

Direction of the Central Bank of Russia No. 1940-U of November 28, 2007 on the Amendments to the Regulation of the Bank of Russia No. 215-P of February 10, 2003 on the Method of Determination of Own Resources (Capital) of Credit Organisations

Refines the method of determination of the profits of the current year included in the estimate of the main and additional capital and the procedure of determination of the losses of the current year reducing the main capital.

Order of the Ministry of Finance of the Russian Federation No. 118n of November 27, 2007 on the Amendments to the Order of the Ministry of Finance of the Russian Federation No. 153n of November 27, 2006 on the Endorsement of the Form of the Tax Declaration for Indirect Taxes (Value Added Tax and Excise Duty Taxes) for the Cases of Import of Commodities to the Territory of the Russian Federation from the Territory of the Republic of Belarus and Its Filling Procedure

Pursuant to the invalidation from January 1, 2008 of the norm permitting the taxpayers with the monthly amounts of receipts from sale of commodities (works, services) without VAT not greater than Rbl 2 million during the quarter to pay the value added tax for the expired quarter no later than the 20th of the month following the expired quarter excludes from the procedure the provisions stating that the mentioned norm does not apply to the import of commodities to the territory of Russia from the territory of the Republic of Belarus.

Decision of the Government of the Russian Federation No. 928 of December 24, 2007 on the Procedure to Check the Presence in the Patent Request for an Invention or Useful Model Created in the Russian Federation of Information Comprising the State Secret

The checking applies to the requests submitted to the Federal Service for Intellectual Property, Patens and Trade-Marks by Russian legal entities or citizens of the Russian Federation, including the international patent requests for an invention submitted in compliance with the Patent Cooperation Treaty or submitted through the Federal Service for Intellectual Property, Patens and Trade-Marks in compliance with the Eurasia Patent Convention.

General Agreement between the All-Russia Associations of Trade-Unions, All-Russia Associations of Employers and the Government of the Russian Federation

The General Agreement concluded between all-Russia associations of trade-unions, all-Russia associations of employers and the Government of the Russian Federation specifies the general principles of regulation of social and labour relations and pertinent economic relations at the federal level in 2008-2010 and defines joint actions of the parties to implement them.

Decree of the President of the Russian Federation No. 1745 of December 24, 2007 on the Amendments to the List of Information Included in the State Secret Endorsed by the Decree of the President of the Russian Federation No. 1203 of November 30, 1995

A number of issues in the sphere of reference of the Ministry of Economic Development of Russia pertaining to information included in the state secret are handed over to the Federal Customs Service of Russia.

Decision of the Government of the Russian Federation No. 934 of December 28, 2007 on the Amendment to the Decision of the Government of the Russian Federation No. 660 of October 10, 2007 on the Rate of the Export Customs Duty for Wheat and Maslin

Introduces on the temporary basis a new rate of the export customs duty for wheat and maslin (code according to the Foreign Trade Commodity Nomenclature of Russia 1001).

Order of the Administration of the President of the Russian Federation and the Office of the Government of the Russian Federation No. 1576/954 of December 21, 2007

Provides the full and abbreviated names of the newly created federal bodies of power.

Decision of the Plenum of the Higher Arbitration Court of the Russian Federation No. 64 of December 18, 2007 on Some Issues Pertaining to the Application of the Provisions of the Tax Code of the Russian Federation on the Tax on Extraction of Mineral Resources Where the Taxable Base Is Determined Proceeding from Their Cost

Provides explanations on the most controversial issues.

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