Monitoring of the Federal Legislation dated 19.06.2012

Federal Law No. 79-FZ of June 14, 2012 on Amending the Federal Law on the Securities Market and the Federal Law on the Details of Issuance of and Trading in State and Municipal Securities

Improves the procedure for issuing and trading state and municipal securities.

Federal Law No. 78-FZ of June 14, 2012 on Amending Some Legislative Acts of the Russian Federation in Connection with the Adoption of the Federal Law on Compulsory Insurance of the Civil Liability of a Carrier for Harm to the Lives, Health and Property of Passengers and on the Procedure for Compensating for Such Harm Caused When Passengers Are Carried by Metro

The amendments are due to the introduction, effective January 1, 2013, of compulsory insurance of carriers' civil liabilities for causing harm to passengers' lives, health and property. In the case of death of a passenger relatives will get 2 million roubles. All means of transport, save metro and taxi, are covered.

Federal Law No. 77-FZ of June 14, 2012 on Amending Article 84.2 of the Federal Law on Joint-Stock Companies

No public offer will be sent to the holders of minority stakes when the majority interest is transferred from one public-law entity to another.

Federal Law No. 76-FZ of June 14, 2012 on Amending Article 260 of the Civil Procedural Code of the Russian Federation

The reduced term for settling electoral disputes should not infringe on citizens' constitutional rights.

Federal Law No. 74-FZ of June 14, 2012 on Amending the Law of the Russian Federation on Sub-Soil

From 2013 Russia's government will define the procedure whereby harm caused to sub-soil is assessed. Persons at fault will have to compensate voluntarily or in a judicial procedure. Whether the person is held accountable or not, compensation will have to be provided.
Effective January 1, 2013.

Federal Law No. 67-FZ of June 14, 2012 on Compulsory Insurance of the Civil Liability of a Carrier for Causing Harm to the Lives, Health or Property of Passengers and on the Procedure for Compensating for Such Harm Caused When Passengers Are Carried by Metro

Carriers' civil liabilities for harm to passengers will have to be insured from January 1, 2013 in respect of all means of transport, except for metro and taxi, otherwise no carriage is permitted. Compensation rates are set for the various cases relating to accidents, except for force majeure. Rules for carriers and insurers are provided. The new compulsory insurance scheme will replace compulsory "third party insurance" for road carriers as well as air liability insurance. International carriers will not require yet another insurance policy if they have insured their liabilities under international rules, for instance abroad, provided insured risks and indemnity sums are not below the ones specified in this law.
A guaranteed-compensation system is going to be formed. The compulsory insurance is the prerogative of the insurers which are members of a single all-Russia professional association and whose deductions maintain a compensation fund operating as a cushion for cases when an insurer goes bankrupt or looses his licence.
Compensation to metro passengers will be provided by the carrier whose duty will be to pay it out at the rates set by this law.
The law enters into force as of January 1, 2013, save some provisions with other effective dates.

Decree of the President of the Russian Federation No. 851 of June 14, 2012 on the Procedure for Declaring Terrorism Threat Alerts Envisaging the Implementation of Additional Measures for Safeguarding the Security of the Person, Society and State

Colour-coded terrorism threat alarm levels, Blue, Yellow and Red, may be declared for a term of up to 15 days as involving the implementation of various security measures.
Effective as of the date of official publication.

Decision of the Government of the Russian Federation No. 591 of June 14, 2012 on Endorsing Rules for Preparation and Adoption of Acts of the Government of the Russian Federation on Definition of a Purchase and Lists and/or Groups of the Goods, Works and Services about Which Information Is Not Deemed State Secret but May Not Be Placed on an Official Website

Draft acts may be prepared by federal authorities and other bodies, and relevant proposals be filed by state companies, natural monopolies, state corporations, the utility organisations pursuing regulated types of activity, unitary enterprises, business entities with a state (municipal) stake exceeding 50% and affiliates thereof.

Decision of the Government of the Russian Federation No. 584 of June 13, 2012 on Endorsing Regulations on Data Protection in Payment Systems

Data protection provisions govern the elaboration, creation, commissioning and operation of information systems. Operators and agents have to take measures for protecting data from unauthorised access, destruction, modification, copying, dissemination etc. and avoid disclosure, for instance by means of using encoding techniques and facilities. Special data protection units and persons will be appointed and the holders of data protection licences may be recruited.
In force as of July 1, 2012.

Order of the Federal Antimonopoly Service No. 337 of May 25, 2012 on Endorsing the Administrative Rules of the Federal Antimonopoly Service for Provision of the State Service of Considering Notices of Acquisition by a Foreign Investor or a Group Including a Foreign Investor of Five and More Per Cent of Shares (Stakes) in the Charter Capitals of the Business Associations Having Strategic Importance for National Defence and State Security

An application is filed with the antimonopoly service by a foreign investor or by the natural persons and entities included in a group with such investor, this being done in person, by post, via the internet portal dedicated to state services or a multi-function centre. It will be considered within 30 days after being registered.

Direction of the Bank of Russia No. 2824-U of May 31, 2012 on Reporting on the Payment Systems of Payment System Operators

The form of operators' reports is established as well as rules for preparing and filing them. Every quarter an operator being a lending organisation is to file a report with the territorial institution of the Central Bank supervising the activities of its head office. An operator being a non-lending organisations will file its reports with the Bank of Russia's territorial institution in the Russia's region where the operator is registered as a legal entity.
Effective as of July 1, 2012

Letter of the Federal Tax Service No. ED-4-3/9882@ of June 15, 2012

According to this letter the new form and format of a tax return for the purposes of profit tax approved by the Federal Tax Service (Order No. MMV-7-3/174@ of March 22, 2012) due to the modification of the tax legislation envisaging to the formation of a consolidated group of taxpayers will become applicable when a tax return is filed for nine months of the Year 2012, or a tax return is filed for seven months of the Year 2012 for those who calculate monthly advance payments on the basis of profit actually received. As explained earlier, the responsible participants in consolidated groups of taxpayers may start to use the new form while filing a tax return for Quarter 1 of the Year 2012.