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News of the Federal Legislation

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News of the Federal Legislation


There are established the specific features of issue of banking stocks at providing of measures on bankruptcy prevention
2008-11-05 06:00

NEWS OF THE FEDERAL LEGISLATION

There are established the specific features of issue of banking stocks at providing of measures on bankruptcy prevention

The Statute of the Bank of Russia N 325-P of October 29, 2008 (document is in Russian) determines the specific features of issue and registration of banking stocks at providing of measures on bankruptcy prevention by the Bank of Russia and the " Agency on deposits insurance", which are established by the Federal Act "On additional measures for forcing stability of banking system during the period up to December 31, 2011" (document is in Russian).

There is specified that an issue (additional issue) of stocks of a bank being participant of the system of obligatory insurance of natural persons deposits shall be provided in accordance with the Instruction of the Bank of Russia N 128-I "On Rules of issue and registration of securities by credit institutions at the Russian Federation territory" of March 10, 2006 (document is in Russian) and is subject for state registration in the Department of licensing of activity and financial recovery if credit institutions of the Bank of Russia. There is established the list if documents necessary for registration of a stocks issue and period for their submission - the documents shall be submitted not later than working day following after the day of making decision about placing stocks, at that registration of the report about results of the issue shall be made synchronously with registration of this issue.

There is established the procedure for acquisition of an additional issue of stocks by the "Agency on deposits insurance" or an investor. In the case of making decision on increasing of authorized capital size, there is provided that the preemption right on acquisition of stocks of additional issue shall not be applied to bank stockholders.
 
The Statue shall putt into effect upon the day of its official publication in the "News Bulletin of the Bank of Russia" and shall be valid up to December 31, 2011.

There is changed the procedure for the Bank of Russia to make a decision on state registration of credit institutions and issuance of licenses for performance of banking operations
2008-11-05 06:00

NEWS OF THE FEDERAL LEGISLATION

There is changed the procedure for the Bank of Russia to make a decision on state registration of credit institutions and issuance of licenses for performance of banking operations

The Directions of the Bank of Russia N 2110-U and N 2111-U of October 29, 2008 (documents are in Russian) makes amendments to the Instruction of the Bank of Russia N 109-I "On the procedure for the Bank of Russia to make a decision on state registration of credit institutions and issuance of licenses for performance of banking operations" of January 14, 2004 (document is in Russian) and the Statute of the Bank of Russia N 271-P "On consideration of documents submitted to a territorial institution of the Bank of Russia for making decision about state registration of credit institution, issuance of licenses for performance of banking operations and keeping of databases on credit institutions and their subdivisions" of June 9, 2005 (document is in Russian), which establish the special procedure for state registration of amendments to constitutive documents of a bank under decision of temporary administration adopted in accordance with article 7 of the Federal Act "On additional measures for forcing stability of banking system during the period up to December 31, 2011" (document is in Russian).

In particular amendments adopted in accordance with the decision of the Bank of Russia about decreasing or increasing of banking authorized capital should be signed by authorized person of temporary administration and sealed by the bank. So there shall not be applied a number of special requirements to state registration amendments to charter of credit institution and connected with changing of the size of its authorized capital.
 
The Directions shall putt into effect upon the day of its official publication in the "News Bulletin of the Bank of Russia" and shall be valid up to December 31, 2011.

There are decreased the rates of export customs duties for raw oil and certain categories of goods manufactured from oil
2008-11-05 06:00

NEWS OF THE FEDERAL LEGISLATION

There are decreased the rates of export customs duties for raw oil and certain categories of goods manufactured from oil

The Decree of the Government of the Russian Federation N 802 of October 31, 2008 (document is in Russian) approves the new rates of export customs duties for raw oil and certain categories of goods manufactured from oil exported from the territory of the Russian Federation outside the boarders - participants of agreements about the Customs Union. In particular, the rate of export duty for raw oil (code 2709 00 of the TN VED) is approved in the size of 287,3 USD dollar per ton instead of earlier effecting rate in the size of 372,2 USD dollar per ton. The Decree shall put into effect since November 16, 2008 and shall be applied to legal relations arisen since November 16, 2008.


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