Monitoring of the Federal Legislation dated 9.07.2008

Decision of the Government of the Russian Federation No. 481 of June 26, 2008 on the Endorsement of the Rules for the Customs Bodies to Carry out Individual Actions Pertaining to Transport Control in the Points of Transfer through the State Border of the Russian Federation

Transport control includes the checking of the transport vehicles, as well as permissions and other documents envisaged in international treaties of the Russian Federation in the sphere of international road transport.

Decision of the Presidium of the Higher Arbitration Court of the Russian Federation No. 3245/08 of June 3, 2008

The Presidium of the Higher Arbitration Court of the Russian Federation agreed with the courts having recognised as illegal the tax body default evident in the failure to return VAT amounts to the taxpayer.

Letter of the Central Bank of Russia No. 77-T of July 1, 2008 on the Rouble Equivalents of the Figures Envisaged in the Direction of the Bank of Russia No. 1755-U of December 11, 2006

Specifies the rouble equivalents of the registered capital for banks for the III quarter of 2008.

Letter of the Central Bank of Russia No. 80-T of July 4, 2008 on the Enhancing of Control over Individual Operations of Natural Persons and Legal Entities with Promissory Notes

To combat legalisation (laundering) of criminal incomes, credit organisations are recommended to send information to the authorised body on operations of transfer of monetary resources in favour of non-residents in the course of execution by the Russian credit organisations of obligations under promissory notes where the first holders were Russian legal entities.

Letter of the Federal Service for Financial Markets No. 08-VM-03/13364 of June 24, 2008 on the Purchase of Securities of the Open-Type Joint-Stock Company on the Basis of a Mandatory Offer

The person having purchased more than 30%, 50% or 75% of the total amount of ordinary or preferred stocks of an open-type company must send to the holders of the rest of the stocks a public offer to purchase such securities with them.