Windfall tax for major companies to be introduced in Russia

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Monitoring of the Federal Legislation dated 29.06.2016

Federal Law No. 223-FZ of June 28, 2016 allowing a medical organisation to apply to court when the legal representative of a minor or incapable individual does not agree to a required medical intervention of vital importance

Decision of the Government of the Russian Federation No. 577 of June 25, 2016 setting out rules -- applicable from November 1, 2016 -- for Russia's government to grant the right to carry out the functions of permanent arbitration institution. On a recommendation of the Council for Improvement of Private Arbitration Litigation under the Ministry of Justice of the Russian Federation this right may be granted to a non-governmental organisation under which a permanent arbitration institution is formed or to a foreign arbitration institution. Regulations on deposition of the rules of a permanent arbitration institution are endorsed.

Direction of the Bank of Russia No. 4052-U of June 27, 2016 raising the standard rates of mandatory reserves for credit institutions from August 1, 2016 to 5% in roubles and 7% in foreign currencies (6% for liabilities owed individuals in a foreign currency), with the averaging factor remaining unchanged

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