On Currency Regulation And Currency Control

Original Language Title: О валютном регулировании и валютном контроле

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Spspent force-Federal Law of 10.12.2003 N 173-FZ A class="doclink "href=" ?docbody= &prevDoc= 102018858&backlink=1 & &nd=102057391" target="contents "title=" "> from 29.12.98 g. N 192-FZ; N 128-FZ; 31.05.2001 N 72-FZ; of 08.08.2001 N 130-FZ; of 30.12.2001 N 196-FZ; of 31.12.2002 N 187-FZ; of 31.12.2002 N 192-FZ; 2/02/2003 N 28-FZ; 07.07.2003 N 116-FZ; dated 29.06.2004 N 58-FZ) This Law defines the principles of currency transactions in the Russian Federation, the powers and functions of monetary authorities and foreign exchange control, and the rights and obligations of legal and regulatory agencies. Individuals with regard to the possession, use and disposal of foreign exchange values, liability for violation of foreign exchange laws. P a l e l I. GENERAL PROVISIONS Article 1. The basic concepts of Concepts used in this Law are: 1. "Currency of the Russian Federation": (a) in circulation, as well as seized or seized from circulation, but to be exchanged, in the form of banknotes (banknotes) of the Central Bank of the Russian Federation and coins; b) The funds in the accounts in banks and other credit institutions in the Russian Federation; (in) funds in rubles in banks and other credit institutions outside the Russian Federation on the basis of an agreement concluded THE RUSSIAN FEDERATION OF THE PRESIDENT OF THE RUSSIAN FEDERATION 2. "Securities denominated in the currency of the Russian Federation"-payment documents (cheques, promissory notes and other payment documents), issue securities (including stocks and bonds), securities derivatives of emissive securities (including depositary receipts), options giving the right to purchase emissive securities and other debt obligations expressed in the currency of the Russian Federation. (In the wording of the Federal Law of 31 May 2001, N 72-FZ 3. "Foreign currency": (a) banknotes, treasury bills, coins in circulation and being a legal tender in the respective foreign State or group of States, as well as seized or (a) The need for the exchange of information; 4. "Currency values": a) foreign currency; b) securities denominated in foreign currency-payment documents (cheques, promissory notes, and other payment documents), emissive securities (including stocks, bonds), securities derivatives of emissive securities (including depositary receipts), stock options, and foreign currency debt liabilities; (In the wording of Federal Law from 31.05.2001 N 72-FZ in) precious metals-gold, silver, platinum and platinum group metals (palladium, iridium, birthplace, ruthenium and osmium) in any form and condition, excluding jewellery and other household items, and scrap Items; g) natural gems-diamonds, rubies, emeralds, sapphires and alexandritis in raw and processed form, as well as pearls, excluding jewellery and other household items from these stones and scrap of such articles. The Government of the Russian Federation shall determine the order and conditions for the allocation of precious metals and precious stones to jewellery and other household items. 5. "Residents": a) natural persons having permanent residence in the Russian Federation, including temporarily outside the Russian Federation; (b) legal persons established in accordance with the law OF THE PRESIDENT OF THE RUSSIAN FEDERATION g) Diplomatic and other official OF THE PRESIDENT OF THE RUSSIAN FEDERATION 6. "Non-residents": (a) natural persons who have permanent residence outside the Russian Federation, including those temporarily located in the Russian Federation; b) legal persons established in accordance with by foreign law, with a location outside the Russian Federation; in) enterprises and organizations that are not legal persons established in accordance with the law of foreign States, c located outside the Russian Federation; g) OF THE PRESIDENT OF THE RUSSIAN FEDERATION of the "B" and "B" and "B" 7. "Foreign exchange transactions": a) transactions related to the transfer of ownership and other rights to currency values, including transactions involving the use as a means of payment of foreign currency and payment documents in foreign currency; b) import and transfer to the Russian Federation, as well as export and transfer from the Russian Federation of currency values; in) implementation of international money transfers; g) Calculating between residents and non-residents in Russian currency THE RUSSIAN FEDERATION (Amended by Federal Act No. N 192-FZ) 8. Foreign currency transactions and foreign exchange securities are divided into current foreign exchange transactions and capital movements. 9. "Current foreign currency transactions": a) transfers to the Russian Federation and from the Russian Federation of foreign currency to implement settlements without delay of payment for exports and imports of goods (works, services, results) (a) Implementation of the Convention on the Rights of the Child and the International Convention on the Law of the Sea. href=" ?docbody= &prevDoc= 102018858&backlink=1 & &nd=102057391 "target="contents" title= " "> from 29.12.98 g. N 192-FZ) b) receiving and granting of financial loans for a period of no more than 180 days; in) transferring to the Russian Federation and from the Russian Federation interest, dividends and other income on deposits, investments, Credit and other transactions related to the movement of capital; g) transfer of non-commercial character to the Russian Federation and from the Russian Federation, including: Pay Pensions, pensions, alimony, State benefits, overpayments and compensation, and Also payment of compensation for harm caused to employees as a result of accidents or occupational diseases in the performance of their work duties; inheritance payments; payments related to the death of the deceased; compensation to victims of political repressions, members of their families and heirs; of the Russian Federation Representatives of the MFA of the Russian Federation to the constituent entities of the Federation Official representations of the State abroad; payments related to notarial and investigation actions, payments related to litigation and arbitration costs, payment of costs of arbitration and administrative expenses and amount of the State duty paid in connection with the The work of the said actions and the handling of cases in the courts; fees for providing legal aid, including remuneration and compensation for expenses related to the execution of the assignment; (Supplementing Federal Law of 31.12.2002) N 187-F) cash payments based on sentences, decisions and definitions of judicial, investigative and other law enforcement agencies; payments for participation in international congresses, symposia, conferences, sports and cultural events, as well as in other international meetings, exhibitions and fairs, except for investment and other material costs; tuition fees for nationals of one State educational institutions of another State, treatment of citizens of one States in the treatment and prevention establishments of another State; payment of author's remuneration; contributions to international public associations; costs associated with performing artists; Other currency transactions, the list of which is set by the Government of the Russian Federation. (Subparagraph (a) of the Federal Law from 31.05.2001 N 72-FZ) 10. "Foreign exchange transactions involving capital": (a) direct investment, i.e. nesting in the charter capital of the enterprise for the purpose of earning the right to participate in the management of the enterprise; b) portfolio investment, that is, acquisition of securities; in) transfers to payment of property rights to buildings, structures and other property, including land and subsoil thereof, under the law of the country of its location to immovable property, and other real estate rights; g) provisioning and More than 90 days ' delay in exports and imports of goods (works, services, results of intellectual activity); (Revision of Federal Law from 29.12.98 g. N 192-FZ) d) provision and receipt of financial credits for more than 180 days; e) all other currency transactions that are not current foreign exchange transactions. 11. "Authorized banks"-banks and other credit institutions licensed by the Central Bank of the Russian Federation to conduct foreign exchange transactions. 12. "Free convertible currency" is the foreign currency referred to in paragraph 3 of this article, which, without restrictions, shall be exchanged for the currency of another foreign State in the conduct of current foreign exchange transactions. (Augmented-Federal Law , 31.05.2001 N 72-FZ)13. For the purposes of this Law, the timing of payments related to the export of goods shall be calculated on the date of the actual crossing of the exported goods by the customs border of the Russian Federation. (Augmented-Federal Law , 31.05.2001 N 72-FZ P a l e II. CURRENCY OF THE PRESIDENT OF THE RUSSIAN FEDERATION Resident settlements are carried out in the currency of the Russian Federation without restrictions. Calculations between residents and non-residents in the currency of the Russian Federation are carried out in the order established by the Central Bank of the Russian Federation. (Amended by Federal Act No. N 192-FZ) 2. The procedure for the acquisition and use in the Russian Federation of the currency of the Russian Federation by non-residents shall be established by the Central Bank of the Russian Federation in accordance with the laws of the Russian Federation. 3. OF THE PRESIDENT OF THE RUSSIAN FEDERATION The Federation is implemented by residents and non-residents in the manner established by the Central Bank of the Russian Federation in cooperation with the Ministry of Finance of the Russian Federation and the State Customs Committee of the Russian Federation. 4. Transactions in contravention of the provisions of this Act are null and void. The perpetrators of such transactions shall be subject to criminal, administrative and other liability in accordance with the legislation of the Russian Federation. Article 3. Ownership of currency 1. Foreign exchange values in the Russian Federation may be owned by both residents and non-residents. In the Russian Federation, ownership of foreign exchange values is protected by the State, together with ownership of other property. The laws of the Russian Federation determine the types of mandatory payments to the State (taxes, fees, duties and other grant payments) in foreign currency. 2. The procedure for dealing with precious metals, natural precious stones, as well as pearls in the Russian Federation shall be established by the Government of the Russian Federation. Article 4. The domestic currency market of the Russian Federation 1. The residents have the right to buy foreign currency on the domestic currency market of the Russian Federation in order and for the purposes determined by the Central Bank of the Russian Federation. 2. The purchase and sale of foreign currency in the Russian Federation shall be made through authorized banks in a procedure established by the Central Bank of the Russian Federation. Transactions of foreign currency may be sold directly between authorized banks, as well as through exchange exchanges operating in the same manner and under conditions established by the Central Bank of the Russian Federation. The purchase and sale of foreign currency by authorized banks are not permitted. 3. Inmates in violation of paragraphs 1 and 2 of this article of the sale of foreign currency shall be null and void. 4. The Central Bank of the Russian Federation, in order to regulate the domestic currency market of the Russian Federation, may set a limit on the exchange rate of the foreign currency from the course of its sale, as well as to conduct purchases and sales of foreign currency. Article 5. Foreign currency resident accounts 1. Residents may have foreign currency accounts in authorized banks. Foreign currency received by enterprises (organizations)-residents shall be required to be credited to their accounts in authorized banks, unless otherwise established by the Central Bank of the Russian Federation. Exchange revenue from exports of goods, works, services and results of intellectual activity in the amount necessary to fulfill the obligations of residents under loan agreements with non-resident organizations by agents of the Governments of the member States of the Organization for Economic Cooperation and Development, may be admitted to the accounts of residents or third persons in banks by the residents who have obtained the relevant authorization from the Central Bank of the Russian Federation THE RUSSIAN FEDERATION In addition, residents are exempt from the mandatory sale of foreign currency earnings from the export of goods, works, services and results of intellectual activity within the amount necessary for the performance of the obligations of the residents under the credit card. Agreements. (Supplementing Federal Law of 31.12.2002) N 192-FZ) These foreign currency funds credited to the accounts of residents or third persons in banks outside the territory of the Russian Federation should be used for the purposes of the residents ' fulfilment of their own The obligations set out in the third paragraph of this paragraph or transferred to the currency accounts of residents opened by them in authorized banks. (Augmented-Federal Law of 31.12.2002) N 192-FZ 2. Residents may hold foreign currency accounts in banks outside the Russian Federation in cases and under conditions set by the Central Bank of the Russian Federation. Residents may hold accounts in foreign currency, not a freely convertible currency, in banks outside the Russian Federation for the purposes of international construction contracts, Detainee with subcontractors who perform certain types of work (services), calculations relating to the procurement of goods required for the performance of specified contracts, and calculations with the secondment of specialists from the Russian Federation under these treaties. Residents are required to notify the tax authorities at their place of opening of the accounts on the basis of the above agreements and report to the specified tax authorities on a monthly basis on the movement of funds in these accounts with the application Bank statements on such accounts. (Augmented-Federal Law , 31.05.2001 N 72-FZ) For the purpose of this Law, foreign currency, not a freely convertible currency, is defined as the foreign currency referred to in article 1, paragraph 3, of this Law, which does not exchange without restrictions on the foreign currency of another foreign State in the conduct of current foreign exchange transactions. (Augmented-Federal Law , 31.05.2001 N 72-FZ) Allocations of foreign currency to foreign currency other than a freely convertible currency, as well as determining the manner in which the accounts are opened in the second paragraph of this paragraph and provide information about these The accounts are maintained by the Central Bank of the Russian Federation. (Augmented-Federal Law , 31.05.2001 N 72-FZ 3. The Central Bank of the Russian Federation establishes the procedure for opening and maintaining accounts of residents in foreign currency. Article 6. Foreign exchange operations in the Russian Federation 1. Current foreign exchange transactions are carried out by residents without restrictions. 2. Foreign exchange transactions related to the movement of capital are carried out by residents in the order established by the Central Bank of the Russian Federation. However, the following currency transactions are performed without restrictions: (Augmented-Federal Law 31.05.2001) N 72-FZ) calculations for the export of goods referred to in sections XVI, XVII, XIX. These goods will not be exported for more than three years from the date of the actual crossing of these goods by the customs border of the Russian Federation; (Amended-Federal Act of 31 May 2001). N 72-FZ) Calculations for the construction and contract work performed by residents outside the Russian Federation, the terms of payment for which, in accordance with the terms of the contracts, exceed 90 days, provided that the return of foreign exchange earnings for construction and contract works will not exceed five years from the date of the conclusion of such a contract; (Augmented-Federal Law from 31.05.2001 N 72-FZ) calculations relating to contributions and insurance and reinsurance payments carried out during the period of validity of the relevant treaty, provided that the period of validity of the contract does not exceed five years The date of his detention; (Augmented-Federal Act , 31.05.2001) N 72-FZ) Transfers by a resident foreign currency to the Russian Federation and from the Russian Federation up to a sum not exceeding $75,000 carried out during the calendar year for acquisition A natural person is a resident of the rights to securities denominated in a foreign currency or for the purpose of the exercise by a natural person of the rights of the said securities. These transfers are carried out by a natural person-a resident through an authorized bank account, the procedure for opening and maintenance of which is determined by the legislation of the Russian Federation. When a resident foreign currency is transferred to a foreign currency, the designated person and the authorized bank through which the transfer was made must have 10 workers days from the date of such transfer, to notify the transfer to the tax authority of the place of account of the physical person resident, attaching bank statements to the account. (Augmented-Federal Law , 31.05.2001 N 72-FZ) The procedure for granting and receiving a deferred payment to residents for more than 90 days for the export and import of goods (works, services, results of intellectual activity), excluding The foreign exchange transactions referred to in paragraphs 3, 4 and 5 of this paragraph shall be determined by the Government of the Russian Federation in consultation with the Central Bank of the Russian Federation. (Augmented-Federal Law of 29.12.98) N 192-FZ; in the wording of Federal Law of 31 May 2001 N 72-FZ 3. Residents have the right to transfer, import and transfer currency values to the Russian Federation without restrictions. The Central Bank of the Russian Federation sets out the procedure for the mandatory transfer, import and transfer of foreign currency and securities in foreign currency to the Russian Federation. The Government of the Russian Federation determines the procedure for mandatory import and transfer to the Russian Federation of precious metals, natural precious stones, as well as pearls belonging to residents. 4. Residents have the right to sell foreign currency for the currency of the Russian Federation on the domestic currency market of the Russian Federation in the manner provided for in article 4 of this Law. 5. The mandatory sale of foreign currency earnings from the export of goods (works, services, results of intellectual activity) is carried out in the amount fixed by the Central Bank of the Russian Federation, but not more than 30 per cent of the amount of foreign exchange earnings. The obligatory sale of foreign currency earnings from the export of goods (works, services, results of intellectual activity) is carried out through authorized banks at the market exchange rate of foreign currencies against the currency of the Russian Federation on the internal currency. The foreign exchange market of the Russian Federation shall not later than seven calendar days from the date of receipt of the said foreign currency proceeds in accordance with the procedure established by the Central Bank of the Russian Federation. (In the wording of the Federal Law of 07.07.2003 N 116-FZ) Mandatory sale of foreign currency earnings of residents from exports of goods (works, services, results of intellectual activity) established by this paragraph, as well as exemption The mandatory sale of foreign currency earnings from the export of goods (works, services, results of intellectual activity) is established by this Law. The President of the Russian Federation sets the procedure for the mandatory sale of foreign currency earnings on the domestic foreign currency market by the President of the Russian Federation. of the Act of 8 August 2001. N 130-FZ 6. The physical persons-residents have the right to transfer, remove and forward from the Russian Federation the previously transferred, imported or forwarded currency values (excluding foreign currency) within the limits specified in the Russian Federation. The customs declaration or other document confirming their transfer, import or transfer to the Russian Federation, in accordance with the procedure established by the Central Bank of the Russian Federation in cooperation with the State Customs Committee of the Russian Federation. Natural persons-residents have the right to forward from the Russian Federation foreign currency in the order established by the Central Bank of the Russian Federation together with the State Customs Committee Russian Federation. (Paragraph in the wording of Federal Law of 27 February 2003) N 28-FZ) 7. The resident physical persons may temporarily export from the Russian Federation, subject to the provisions of paragraph 10 of this article, foreign currency in an amount not exceeding the equivalent of 10,000 (ten thousand) United States dollars. This does not require the submission to the Russian Customs authorities of documents confirming that the foreign currency available in cash was previously transferred, imported or transferred to the Russian Federation or acquired in the Russian Federation. (...) (...) N 28-FZ) 8. In addition to the foreign currency available in paragraph 7 of this article, the resident natural persons shall be entitled, subject to the provisions of paragraph 10 of this article, to export from the Russian Federation the previously imported cash to the Russian Federation. foreign currency, within the amount specified in the customs declaration confirming its importation into the Russian Federation. (Supplementing Federal Law of 27.02.2003) N 28-FZ)9. One-time export from the Russian Federation of foreign currency persons in cash in excess of the equivalent of $10,000 (ten thousand) is not permitted, except as provided for in paragraph 8 of this Regulation. articles. (Supplementing Federal Law of 27.02.2003) N 28-FZ) 10. In the case of the one-time removal from the Russian Federation by resident physical persons of foreign currency in the amount not exceeding the equivalent of $3,000 (three thousand), the foreign currency that is exported is not subject to declaration. OF THE PRESIDENT OF THE RUSSIAN FEDERATION In the case of the one-time removal from the Russian Federation by resident physical persons of foreign currency in excess of the equivalent of $3,000 (three thousand), the foreign currency to be exported is subject to declaration of the Russian Federation by means of a written customs declaration. (Paragraph added-Federal law dated 27.02.2003 N 28-FZ) Article 6-1. Issued permission to a resident 1. Consideration of the issue of the granting of a permit required under currency law to the resident shall be carried out by the exchange controls within their competence within two months from the date of application for the said permit. 2. If the resident does not submit the complete set of documents required under the established procedure, the currency control authority shall, within one month from the date of the resident's submission of the application for authorization, be required to request it Missing documents to be submitted by the resident not later than 10 days from the date of receipt of the request. 3. Not later than two months from the date of the resident's application for a permit, the currency control authority is required to grant the resident permission or a motivated refusal to issue the permit. (Article padded-Federal Law of 31.05.2001 N 72-FZ) Article 7. Non-resident accounts in foreign currency and in the currency of the Russian Federation 1. Non-residents can have accounts in foreign currency and in the currency of the Russian Federation in authorized banks. 2. The Central Bank of the Russian Federation sets the procedure for the opening and maintenance by authorized banks of accounts of non-residents in foreign currency and in the currency of the Russian Federation. Article 8. Foreign exchange transactions of non-residents in the Russian Federation 1. Non-residents have the right to transfer, import and transfer currency values to the Russian Federation without restrictions. 2. Non-residents have the right to sell and buy foreign currency for the currency of the Russian Federation in the procedure set by the Central Bank of the Russian Federation. 3. Non-resident natural persons have the right to transfer, remove and forward from the Russian Federation currency values (excluding foreign currency) transferred, imported or transferred to the Russian Federation, within the limits specified in a customs declaration or another document confirming their transfer, import or transfer to the Russian Federation, in accordance with the procedure established by the Central Bank of the Russian Federation in cooperation with the State Customs Committee of the Russian Federation. Natural persons-non-residents have the right to forward from the Russian Federation foreign currency in the order established by the Central Bank of the Russian Federation in conjunction with the State Customs Service of the Russian Federation. Russian Federation. (Paragraph in the wording of Federal Law of 27 February 2003) N 28-FZ) 4. Non-resident natural persons may temporarily export from the Russian Federation, subject to the provisions of paragraph 7 of this article, foreign currency in an amount not exceeding 10,000 (ten thousand) United States dollars. This does not require the submission to the Russian Customs authorities of documents confirming that the foreign currency available in cash was previously transferred, imported or transferred to the Russian Federation or acquired in the Russian Federation. (...) (...) N 28-FZ) 5. In addition to the cash foreign currency referred to in paragraph 4 of this article, non-resident natural persons shall be entitled, subject to the provisions of paragraph 7 of this article, to export from the Russian Federation the previously imported cash to the Russian Federation. foreign currency, within the amount specified in the customs declaration confirming its importation into the Russian Federation. (Supplementing Federal Law of 27.02.2003) N 28-FZ)6. One-time export from the Russian Federation by non-residents of cash foreign currency in an amount exceeding the equivalent of $10,000 (ten thousand) is not permitted, except as provided for in paragraph 5 of this Regulation. articles. (Supplementing Federal Law of 27.02.2003) N 28-FZ) 7. In the case of non-resident physical persons from the Russian Federation in a single currency, foreign currency, in an amount not exceeding $3,000 (three thousand), is not subject to declaration of foreign currency. OF THE PRESIDENT OF THE RUSSIAN FEDERATION In the case of the one-time removal from the Russian Federation by non-resident physical persons of foreign currency in excess of the equivalent of $3,000 (three thousand), the foreign currency being exported is subject to declaration to the customs authority of the Russian Federation by submitting a written customs declaration. (*) target="contents "title=" "> dated 27.02.2003 N 28-FZ) Article 9. The Central Bank of the Russian Federation as a currency regulatory body 1. The Central Bank of the Russian Federation is the main body of monetary regulation in the Russian Federation. 2. The Central Bank of the Russian Federation, within the framework of this Law: (a) defines the sphere and the procedure for the application in the Russian Federation of foreign currency and securities in foreign currency; b) issues regulations, mandatory In the Russian Federation, residents and non-residents; (in) carry out all types of currency transactions; g) sets rules for resident and non-resident foreign exchange transactions in the Russian Federation; securities in foreign currency, as well as rules of conduct by non-residents in the Russian Federation of transactions with the currency of the Russian Federation and securities in the currency of the Russian Federation; d) establishes the order of obligatory translation, import and transfer to the Russian Federation of foreign currency; and securities in foreign currency owned by residents, as well as the conditions and conditions for the opening of foreign currency accounts in banks outside the Russian Federation; e) sets general rules for issuing licenses to banks and others to credit institutions for currency transactions and issues license; ) establishes common forms of recording, reporting, documentation and statistics of currency transactions, including by authorized banks, as well as the order and timing of their performance; z) prepares and publishes currency statistics OF THE PRESIDENT OF THE RUSSIAN FEDERATION P a l e l III. CURRENCY CONTROL Article 10. The purpose and directions of currency control 1. The purpose of currency control is to ensure compliance with currency legislation in the conduct of foreign exchange transactions. 2. The main directions of currency control are: (a) to determine whether foreign exchange transactions are in compliance with the laws in force and to have the licenses and permits required for them; b) to verify compliance The residents of foreign currency obligations to the state, as well as obligations to sell foreign currency on the domestic foreign currency market of the Russian Federation; in) checking the validity of payments in foreign currency; (d) Review of the completeness and objectivity of the recording and reporting of currency transactions; and also on non-resident transactions in the currency of the Russian Federation. Article 11: Exchange controls and agents of currency control 1. Foreign exchange control in the Russian Federation is carried out by the Government of the Russian Federation, foreign exchange controls and foreign exchange control agents in accordance with the legislation of the Russian Federation. 2. The foreign exchange controls in the Russian Federation are the Central Bank of the Russian Federation, the federal executive authorities within the jurisdiction established by federal laws, and the federal executive branch, OF THE PRESIDENT OF THE RUSSIAN FEDERATION 3. The agents of foreign exchange control are authorized banks reporting to the Central Bank of the Russian Federation, as well as organizations reporting to the federal executive authorities, in accordance with the legislation of the Russian Federation. 4. The Central Bank of the Russian Federation is responsible for the control of currency transactions by credit institutions and exchange exchanges. 5. The control of foreign exchange transactions by residents and non-residents, other than credit institutions or exchange offices, shall be exercised within the limits of its competence by the federal executive authorities, the monetary authorities. and agents of foreign exchange control. 6. The Government of the Russian Federation ensures the separation of functions and interaction between the federal executive authorities in the field of currency control, as well as their interaction with the Central Bank of the Russian Federation. 7. The Central Bank of the Russian Federation interacts with other foreign exchange control agencies within their competence and ensures the interaction of authorized banks as agents of currency control. (Article in the wording of the Federal Law of July 31, 2001). N 72-FZ) Article 12. Powers of organs and agents of currency control 1. The foreign exchange controls, within their competence, issue regulations that are binding on all residents and non-residents in the Russian Federation. 2. The authorities and agents of currency control within their competence: (a) exercise control over foreign exchange transactions conducted in the Russian Federation by residents and non-residents, for the conformity of these operations with the law and conditions Licenses and permits, as well as their compliance with acts of foreign exchange controls; b) conduct inspections of foreign exchange transactions of residents and non-residents in the Russian Federation. 3. Foreign exchange controls determine the manner and form of accounting, reporting and documentation of foreign currency transactions of residents and non-residents. Article 13. Rights and duties of residents and non-residents 1. Resident and non-resident currency transactions in the Russian Federation, as well as non-residents, carrying out transactions with the currency of the Russian Federation and securities in the currency of the Russian Federation, have the right: a) by inspection bodies and agents of currency control; b) to appeal against the actions of agents of foreign currency control to the relevant foreign exchange control authorities, as well as the actions of the foreign exchange control authorities in accordance with the procedure established by of the Russian Federation; in) other rights; OF THE PRESIDENT OF THE RUSSIAN FEDERATION 2. Resident and non-resident currency transactions in the Russian Federation, as well as non-residents engaged in transactions with the currency of the Russian Federation and securities in the currency of the Russian Federation, are obliged: a) to submit to the authorities and currency control agents, all requested documents and information on currency transactions; b) to provide explanations to the organs and agents of currency control in their audits, as well as on their results; (c) In case of disagreement with the facts as set out in the verification act, by organs and agents of currency control, to provide written explanations of the reasons for refusing to sign the act; g) to maintain records and to report on their foreign exchange transactions, ensuring that they are not less secure 5 years; e) to comply with the requirements (requirements) of the currency control authorities for the elimination of detected breaches; e) to carry out other duties established by the legislation of the Russian Federation. Article 14: Responsibility for currency violation laws 1. Those found guilty of violating foreign currency laws have criminal, administrative, civil and other liability in accordance with the legislation of the Russian Federation. 2. Repeated violations of foreign exchange laws, as well as failure to comply with or miscomply with the regulations of the foreign exchange controls, justify the suspension of licences and permits issued by foreign exchange controls residents, including authorized banks, or non-residents, or to deprive them of such licences and permits. 3. All transactions received by residents, including authorized banks, and non-residents, by force of this Law, as well as all unjustifiable transactions, and as a result of unlawful actions are liable to recovery States. (Article as amended by Federal Law No. N 196-FZ) Article 15. Rights and duties of the officials of the organs and agents of currency control. Appeals against the actions of the officials of the currency control authorities 1. Officials of organs and agents of foreign exchange control within the competence of these bodies have the right: (a) to check all documents relating to their exercise of the currency control functions, obtain the necessary explanations, help and Information on issues arising in the checks, as well as the seizure of documents showing violations in the currency legislation; b) suspend transactions in authorized banks in the event of failure to submit the said in this article of documents and information; in) to suspend Action or to deprive residents, including authorized banks, as well as non-residents, of licences and permits to carry out foreign currency transactions; g) to other rights provided by the legislation of the Russian Federation. 2. The organs and agents of currency control and their officials are obliged to preserve the trade secrets of residents and non-residents, which are known to them in the performance of currency control functions. 3. Foreign exchange controls and their officials, in the event of improper exercise of their duties, may be held liable in accordance with the procedure provided for in the legislation of the Russian Federation. President of the Russian Federation B. Yeltsin , House of Soviet of the Russian Federation 9 October 1992 N 3615 -I