Windfall tax for major companies to be introduced in Russia

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Monitoring of the Federal Legislation dated 24.06.2011

Decision of the Government of the Russian Federation No. 497 of June 23, 2011 on Amending the Technical Regulations on the Safety of Gas-Distribution and Gas-Consumption Networks

Tightens the fire-safety rules concerning the construction and arrangement of gas networks.

Decision of the Government of the Russian Federation No. 481 of June 20, 2011 on Setting the Rates of Official Salaries of the Personnel of the Investigation Committee of the Russian Federation, for Instance of the Military Investigation Bodies of the Investigation Committee of the Russian Federation, Whose Jobs Require Special (Military) Ranks

The rates of salary are set for the various categories of personnel of the Investigation Committee as percentage of the salary of First Deputy Chairman thereof. Amendment is made to the decision of the Government of the Russian Federation setting the rates of salary of the personnel of the procurator's office of the Russian Federation as percentage of the salary of First Deputy Procurator General of the Russian Federation.

Order of the Federal Financial Markets Service No. 11-23/pz-n of May 24, 2011 on Endorsing the Standard Rates of Sufficiency of the Owner's Equity of Professional Participants in the Securities Market and Also of the Managing Companies of Investment Companies, Unit Investment Trusts and Non-State Pension Funds

Effective July 1, 2011, the standard rates of owner's equity will be raised only for the companies managing investment or non-state pension funds to reach 80,000,000 roubles (60,000,000 at present). Similar rate is set for the specialised depositaries of said funds. The increase in the standard rates planned for the rest of the professional participants in the securities market has been cancelled. For clearing organisations the minimum rate of 80,000,000 roubles is set as applicable until January 1, 2012. Professional participants in the securities market may reduce the rate if they insure liability or if a self-regulating organisation is asking for it. The order comes into force as of July 1, 2011. It does not extend to lending organisations.

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