On Currency Regulation And Currency Control

Original Language Title: О валютном регулировании и валютном контроле

Read the untranslated law here: http://pravo.gov.ru/proxy/ips/?doc_itself=&infostr=x&backlink=1&fulltext=1&nd=102018858

Expired-the Federal law from 10.12.2003 N 173-FZ z and c o n RUSSIAN FEDERATION on currency regulation and currency control (as amended by the federal laws of 29.12.98 N 192-FZ;
from 05.07.99 N 128-FZ; from 31.05.2001 N 72-FZ;
from 08.08.2001 N 130-FZ; from out N 196-FZ;
from 12/31/2002 N 187-FZ; from 12/31/2002 N 192-FZ;
from 27.02.2003 N 28-FZ; from 07.07.2003 N 116-FZ;
from 06/29/2004 N 58-FZ) this law determines the principles of currency operations in the Russian Federation, the powers and functions of currency regulation and currency control, the rights and obligations of legal entities and natural persons in respect of the ownership, use and management of currency values, responsibility for violation of currency laws.
R a w d e l i. General provisions article 1. Concepts concepts used in this law: 1. "currency of the Russian Federation": a) in circulation, as well as seized or withdrawn from circulation, but to be exchanged, rubles in the form of banknotes (banknotes), Central Bank of the Russian Federation and coins;
b) tools in rouble terms on accounts at banks and other credit institutions in the Russian Federation;
in) in LCY balances in banks and other credit institutions outside of the Russian Federation on the basis of the agreement concluded by the Government of the Russian Federation and the Central Bank of the Russian Federation with the relevant authorities of a foreign State for the use on the territory of the State of the Russian Federation currency as legal tender.
2. "securities denominated in the currency of the Russian Federation-payment documents (cheques, promissory notes and other payment documents), securities (including shares and bonds), securities that derive from securities (including depositary receipts), options, which give the right to acquire issued securities, and other debt liabilities denominated in the currency of the Russian Federation. (As amended by the Federal law of 31.05.2001 N 72-FZ)
3. "foreign currency"): (a) money in the form of banknotes, Treasury bills, coins in circulation that are legal tender in the relevant foreign State or group of States, as well as seized or withdrawn from circulation, but to be exchanged banknotes;
b) funds in monetary units of foreign States and international funds or units.
4. "currency value": a) foreign currency;
b) securities denominated in foreign currency, payment documents (cheques, promissory notes and other payment documents), securities (including shares, bonds), securities that derive from securities (including depositary receipts), options, which give the right to purchase securities, and liabilities denominated in foreign currencies; (As amended by the Federal law of 31.05.2001 N 72-FZ)) precious metals-gold, silver, Platinum and platinum group metals (Palladium, Iridium, rhodium, ruthenium and Osmium) in any form and State except for jewelry and other household products, as well as jewelry scrap;
g) natural precious stones-diamonds, rubies, emeralds, sapphires and Alexandrite in raw and processed forms, as well as pearls, except for jewelry and other household goods of these stones and jewelry scrap.
The procedure and conditions for inclusion of articles of precious metal and natural gemstones to the jewellery and other household products and scrap such products shall be established by the Government of the Russian Federation.
5. "Residents": a) physical persons having permanent residence in the Russian Federation, including temporarily outside the territory of the Russian Federation;
b) legal persons established in accordance with the legislation of the Russian Federation, located in the Russian Federation;
in) companies and organizations are not legal persons established in accordance with the legislation of the Russian Federation, located in the Russian Federation;
g) diplomatic and other official representative offices of the Russian Federation outside the territory of the Russian Federation;
d) outside the territory of the Russian Federation branches and representative offices of residents specified in subparagraphs "b" and "b" of this paragraph.
6. "non-residents"): (a) physical persons having permanent residence outside the Russian Federation, including those temporarily residing in the Russian Federation;
b) legal entities established in accordance with legislation of foreign States located outside of the Russian Federation;
in) companies and organizations are not legal persons established in accordance with the legislation of foreign States located outside of the Russian Federation;
g) located in Russian Federation foreign diplomatic and other official representative offices, as well as international organizations, their branches and representative offices;
d) located in the Russian Federation, branches and representations of non-residents referred to in subparagraphs "b" and "b" of this paragraph.
7. "currency transactions":

a) operations associated with the transfer of ownership and other rights in currency values, including operations related to use as a means of payment in foreign currency and payment documents in foreign currency;
b) importation and forwarding to the Russian Federation, as well as export and shipping from the Russian Federation currency values;
in carrying out international money transfers);
g) calculations between residents and non-residents in the currency of the Russian Federation. (Supplemented by federal law from 29.12.98 g. N 192-FZ) 8. Operations with foreign currency and foreign currency securities are classified in current currency transactions and foreign exchange transactions involving the movement of capital.
9. "current currency transactions": a) transfers to the Russian Federation from the Russian Federation and foreign currency for payments without the delay of payment for export and import of goods (work, services, results of intellectual activity), as well as for payments related to the crediting of export-import operations for a period not exceeding 90 days; (As amended by the Federal law of 29.12.98 N 192-FZ) b) obtaining and providing financial loans for a period of not more than 180 days;
in) transfers in the Russian Federation and the Russian Federation interest, dividends or other income on deposits, investments, loans and other transactions related to capital movement;
g non-commercial nature) translations in the Russian Federation and the Russian Federation, including: payment of salaries, stipends, pensions, alimony, government benefits, surcharges and compensations, as well as payments to reimburse for damage caused to employees as a result of accidents or occupational diseases in the performance of their duties;
costs related to the secondment of workers abroad;
payments in connection with the adoption of the inheritance;
payments associated with the burial of the deceased;
the payment of monetary compensation to victims of political repression, their families and heirs;
payment for acquisition and construction outside the territory of the Russian Federation buildings for the needs of diplomatic missions, consular posts and the permanent missions of the Russian Federation to the international interstate (intergovernmental) organizations;
means for the maintenance of diplomatic and other official representative offices of the State abroad;
payments related to notarial and investigative actions, payments related to judicial and arbitral costs, payments for reimbursement of arbitration and administrative bodies, as well as the amount of the State fee paid in connection with the work of these actions and cases in the courts;

the fee for the provision of legal aid counsel, including the payment of remuneration and expenses related to the execution of the order; (Supplemented by federal law from 31.12.2002 N 187-FZ) cash payments based on sentences, decisions and judicial definitions, 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 expenses for investments and other material costs;
tuition fees for nationals of the State in educational institutions of another State, the treatment of citizens of one State in the treatment-and-prophylactic institutions of another State;
payment of royalties;
contributions to international public associations;
costs associated with touring artists;
other currency transactions, a list of which is established by the Government of the Russian Federation.
(As amended by the Federal law of 31.05.2001 N 72-FZ) 10. "Currency operations related to movement of capital": a) direct investments, i.e. investment in authorized capital of the enterprise with a view to generating income and obtain rights to participate in the management of the enterprise;
b) portfolio investment, that is, the acquisition of securities;
payment transfers) ownership of the buildings, facilities and other property, including land and underground resources, classified according to the legislation of the country where the immovable property and other property rights;
g) giving and receiving payment deferral for a period exceeding 90 days for export and import of goods (work, services, results of intellectual activity); (As amended by the Federal law of 29.12.98 N 192-FZ) d) giving and receiving credits for a period exceeding 180 days;
(e)) all other currency transactions that are not current.
11. "authorized banks" banks and other credit institutions, licensed the Central Bank of the Russian Federation to conduct foreign exchange transactions.
12. "freely convertible currency"-foreign currency specified in paragraph 3 of this article, which, without limitation, exchanged for currency of another foreign State in carrying out current currency operations. (Supplemented by federal law from 31.05.2001 N 72-FZ)

13. For the purposes of this Act, payment dates count when making settlements related to the export of goods is carried out from the date of the actual exported goods crossing the customs border of the Russian Federation. (Supplemented by federal law from 31.05.2001 N 72-FZ) r and w d e l II. CURRENCY REGULATION Article 2. Protection of the currency of the Russian Federation 1. Calculations are carried out between residents in the currency of the Russian Federation without restriction.
Payments between residents and non-residents in the currency of the Russian Federation shall be made in accordance with the procedure set out by the Central Bank of the Russian Federation. (Supplemented by federal law from 29.12.98 N 192-FZ)
2. The procedure for the acquisition and the use of currency in the Russian Federation 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. Removal and shipping from the Russian Federation Russian Federation currency and securities denominated in the currency of the Russian Federation, as well as the importation and forwarding to the Russian Federation the Russian Federation currency and securities denominated in the currency of the Russian Federation, are carried out by residents and non-residents in order to be determined by the Central Bank of the Russian Federation, together with the Ministry of Finance of the Russian Federation and the State Customs Committee of the Russian Federation.
4. Transactions entered into in violation of the provisions of this law are null and void. Perpetrators of such transactions incur criminal, administrative and other responsibility in accordance with the legislation of the Russian Federation.
Article 3. Ownership of valuables 1. Currency values in the Russian Federation can be owned by both residents and non-residents.
In the Russian Federation, the ownership of the currency value protected by the State along with ownership of other property.
Types of obligatory payments (taxes, charges, duties and other non-repayable payments) in foreign currency will be governed by the laws of the Russian Federation.
2. the order of transactions with precious metals, natural precious stones and pearls in the Russian Federation shall be determined by the Government of the Russian Federation.
Article 4. The internal currency market of the Russian Federation 1. Residents have the right to buy foreign currency on the internal currency market of the Russian Federation in the manner and for the purposes defined by the Central Bank of the Russian Federation.
2. Purchase and sale of foreign currency in the Russian Federation shall be made through authorized banks in the order established by the Central Bank of the Russian Federation.
Sale of foreign currency may be carried out directly between the authorized banks, as well as through currency exchanges operating in the manner and under the conditions set by the Central Bank of the Russian Federation.
Purchase and sale of foreign currencies without going through authorized banks shall not be permitted.
3. prisoners in violation of the provisions of paragraphs 1 and 2 of this article, the sale of foreign currency are invalid.
4. the Central Bank of the Russian Federation in order to regulate the internal currency market of the Russian Federation may establish course deviation limit purchases of foreign currency from its sale, as well as to carry out operations on purchase and sale of foreign currency.
Article 5. Resident account in foreign currency 1. Residents can maintain accounts in foreign currency in authorised banks.
Foreign currency obtained by enterprises (organizations)-residents is subject to compulsory admission to their accounts in the authorized banks, unless otherwise stipulated by the Central Bank of the Russian Federation.
Foreign exchange earnings from exports of goods and services and the results of intellectual activity in the amount necessary for the performance of the obligations of residents on loan agreements with non-residents, which are agents of the Governments of the Member States of the Organization for economic cooperation and development, can enrol resident, obtained the permission of the Central Bank of the Russian Federation, to the accounts of residents or third persons in banks outside the territory of the Russian Federation. While residents are exempt from obligatory sale of foreign currency from the export of goods, work, services and the results of intellectual activity within the amount necessary for the performance of the obligations of residents specified loan agreements. (Supplemented by federal law from 31.12.2002 N 192-FZ) these funds in foreign currency are credited to the accounts of residents or third persons in banks outside the territory of the Russian Federation, should be used for the purpose of fulfilling the residents of its obligations under the third subparagraph of this paragraph, or transferred to accounts of residents, open them in the authorized banks. (Supplemented by federal law from 31.12.2002 N 192-FZ)

2. Residents may have foreign currency accounts in banks outside the Russian Federation, in the cases and under the conditions set by the Central Bank of the Russian Federation.

Residents can maintain accounts in foreign currency that is not freely convertible currency in banks outside the territory of the Russian Federation for settlement under contracts of international construction contract entered into with the subcontractors who perform certain types of work (services), calculations related to purchase of the necessary for the execution of these contracts of goods, and settlements with seconded by citizens of the Russian Federation carried out in accordance with those treaties. Residents are required to inform the tax authorities of the place of its account on opening the accounts on the basis of the above mentioned contracts and monthly report prior to the tax authorities on the movement of funds in these accounts with application of bank statements on such accounts. (Supplemented by federal law from 31.05.2001 N 72-FZ) for the purposes of this Act, foreign exchange, is not a freely convertible currency, refers to foreign currency referred to in paragraph 3 of article 1 of this law, which is not exchanged without restrictions on currency of another foreign State in carrying out current currency operations. (Supplemented by federal law from 31.05.2001 N 72-FZ) Allocation of foreign currency to foreign currency is not freely convertible currency, as well as determining the opening referred to in the second subparagraph of this paragraph, accounts and providing information on these accounts are carried out by the Central Bank of the Russian Federation. (Supplemented by federal law from 31.05.2001 N 72-FZ)

3. the procedure for opening and maintaining accounts by authorized banks resident in foreign currency sets the Central Bank of the Russian Federation.
Article 6. Currency operations in the Russian Federation 1. Current currency transactions are carried out by residents without restriction.
2. Currency operations related to movement of capital carried out by residents in the order established by the Central Bank of the Russian Federation.
Without limitation, the following transactions: (supplemented by federal law from 31.05.2001 N 72-FZ) settlements for exports of goods listed in sections XVI, XVII, XIX of the nomenclature of commodities in foreign-economic activity of the Russian Federation, provided that the maturity of the foreign exchange earnings from the sale of those goods for export will not exceed three years from the date of the actual crossing these goods the customs border of the Russian Federation; (Supplemented by federal law from 31.05.2001 N 72-FZ) calculations for produced residents outside the territory of the Russian Federation for construction and contract work for which payment terms in accordance with the terms of the contracts exceeds 90 days, provided that the period of repayment of foreign-currency earnings for construction and contracting work will not exceed five years from the date of conclusion of such a treaty; (Supplemented by federal law from 31.05.2001 N 72-FZ) calculations of contributions and payments, insurance and reinsurance, performed during the validity period of the contract, provided that the duration of the Treaty will not exceed five years from the date of its conclusion; (Supplemented by federal law from 31.05.2001 N 72-FZ) transfers individual resident in foreign currency in the Russian Federation and from the Russian Federation to an amount not exceeding 75 thousand dollars carried out by the United States during the calendar year for the purpose of acquiring individual resident rights for securities denominated in a foreign currency, or in order to implement the individual resident owned the rights to these securities. These transfers are carried out by a natural person resident in the authorized bank account, how to open and conduct which shall be determined by the legislation of the Russian Federation. When translating individual resident in foreign currency for the purchase of rights to securities denominated in a foreign currency, this person and an authorized bank, through which has been committed by the specified translation are obliged within 10 working days from the date of such transfer notify on transfer tax authority at the place of posting made this translation of the physical person-resident, with bank statements for the specified account. (Supplemented by federal law from 31.05.2001 N 72-FZ) Order providing and receiving residents of payment deferral for a period exceeding 90 days for export and import of goods (work, services, results of intellectual activity), with the exception of currency transactions referred to in paragraphs third, fourth and fifth of this paragraph shall be determined by the Government of the Russian Federation by agreement with the Central Bank of the Russian Federation. (Supplemented by federal law from 29.12.98 N 192-FZ; as amended by Federal Act of 31.05.2001 N 72-FZ)
3. Residents have the right, without limitation, transfer, import and send the currency value in the Russian Federation subject to customs regulations.
The order of compulsory transfer, importation and sent to the Russian Federation, foreign currency and securities in foreign currency, belonging to the residents, establishes the Central Bank of the Russian Federation.

The order of binding import and forwarding to the Russian Federation on precious metals, natural precious stones and pearls, also owned by residents, defines the Government of the Russian Federation.
4. Residents have the right to sell foreign currency for the currency of the Russian Federation on the internal currency market of the Russian Federation in the manner provided for in article 4 of this law.
5. Compulsory sale of foreign currency by residents from the export of goods (work, services, results of intellectual activity) is carried out to the extent prescribed by the Central Bank of the Russian Federation, but not more than 30 per cent of foreign exchange earnings. Compulsory sale of foreign currency by residents from the export of goods (work, services, results of intellectual activity) is carried out through authorized banks at market exchange rates for foreign currencies in the currency of the Russian Federation on the internal currency market of the Russian Federation not later than seven calendar days from the date of receipt of the said foreign currency in accordance with the order established by the Central Bank of the Russian Federation. (As amended by the Federal law on 07.07.2003 N 116-FZ) privileges on the order of compulsory sale of foreign currency by residents from the export of goods (work, services, results of intellectual activity) established by this paragraph, as well as to exempt residents from mandatory sale of foreign exchange earnings from exports of goods (work, services, results of intellectual activity) are established in this law.
The procedure for compulsory sale of residents income foreign currency on the internal currency market of the Russian Federation shall be established by the President of the Russian Federation.
(Paragraph as amended by federal law from 08.08.2001 N 130-FZ)
6. Resident individuals have the right to transfer, export, and transfer of Russian Federation previously translated, imported or uploaded in Russian Federation currency value (with the exception of cash foreign currency) within the limits indicated in the customs declaration or other document confirming their transfer, import or forwarding to the Russian Federation, in the order established by the Central Bank of the Russian Federation in cooperation with the State Customs Committee of the Russian Federation.
Resident individuals have the right to forward from the Russian Federation, foreign currency in cash in the order established by the Central Bank of the Russian Federation in cooperation with the State Customs Committee of the Russian Federation.
(Paragraph as amended by federal law from 27.02.2003 N 28-FZ)
7. Resident individuals can lump out of the Russian Federation, subject to the provisions of paragraph 10 of this article, cash foreign currency in an amount not exceeding the equivalent of 10000 (ten thousand) United States dollars. This does not require the submission to the Customs authorities of the Russian Federation documents confirming that exported cash in foreign currency was previously translated, imported or sent to the Russian Federation or purchased in the Russian Federation. (As amended by federal law from 27.02.2003 N 28-FZ)
8. in addition to the amount of foreign currency in cash referred to in paragraph 7 of this article, resident individuals shall have the right, subject to the provisions of paragraph 10 of this article to export from the Russian Federation previously imported to the Russian Federation cash foreign currency within the amount indicated in the customs declaration, confirming its import into the Russian Federation. (Supplemented by federal law from 27.02.2003 N 28-FZ)
9. A one-time removal of the Russian Federation and natural persons-residents of foreign currency in an amount exceeding the equivalent of 10000 (ten thousand) us dollars, the United States is not permitted, except as provided for in paragraph 8 of this article. (Supplemented by federal law from 27.02.2003 N 28-FZ) 10. When a single exported from the Russian Federation and natural persons-residents of foreign currency in an amount not exceeding the equivalent of 3000 (three thousand) dollars, the United States exported cash in foreign currency shall not be declared to the customs authority of the Russian Federation.
When a single exported from the Russian Federation and natural persons-residents of foreign currency in an amount exceeding the equivalent of 3000 (three thousand) dollars, the United States exported cash in foreign currency shall be declared to the customs authority of the Russian Federation by filing a written customs declaration.
(Para supplemented by federal law from 27.02.2003 N 28-FZ) Article 6-1. Resident permit 1. Consideration of issuing resident permits required under the currency laws, currency control bodies within the limits of their competence, within two months from the date of filing of the application for the specified permission.

2. In the absence of a resident of a full set of documents required in accordance with the prescribed procedures, exchange control authority within one month from the date of filing of the resident the permit application shall ask him missing documents that must be submitted by a resident of no later than 10 days from the date of receipt of the request.
3. Not later than two months from the date of filing of the resident the permit application exchange control authority is obliged to issue a permit to a resident or submit a motivated refusal to grant such permission.
(Article supplemented by federal law from 31.05.2001 N 72-FZ) Article 7. Accounts of non-residents in foreign currency and the currency of the Russian Federation 1. Non-residents may have accounts in foreign currency and the currency of the Russian Federation in the authorized banks.
2. the procedure for opening and maintaining accounts by authorized banks non-residents in foreign currency and the currency of the Russian Federation establishes the Central Bank of the Russian Federation.
Article 8. Currency transactions-residents in the Russian Federation 1. Non-residents shall have the right, without limitation, transfer, import and send the currency value in the Russian Federation subject to customs regulations.
2. Non-residents have the right to buy and sell foreign currency for the currency of the Russian Federation in order to be determined by the Central Bank of the Russian Federation.
3. natural persons-non-residents have the right to transfer, export, and transfer of Russian Federation previously translated, imported or uploaded in Russian Federation currency value (with the exception of cash foreign currency) within the limits indicated in the customs declaration or other document confirming their transfer, import or forwarding to the Russian Federation, in the order 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 cash in the order established by the Central Bank of the Russian Federation in cooperation with the State Customs Committee of the Russian Federation.
(Paragraph as amended by federal law from 27.02.2003 N 28-FZ)
4. natural persons-non-residents may lump out of the Russian Federation, subject to the provisions of paragraph 7 of this article, cash foreign currency in an amount not exceeding the equivalent of 10000 (ten thousand) United States dollars. This does not require the submission to the Customs authorities of the Russian Federation documents confirming that exported cash in foreign currency was previously translated, imported or sent to the Russian Federation or purchased in the Russian Federation. (As amended by federal law from 27.02.2003 N 28-FZ)
5. in addition to the amount of foreign currency in cash referred to in paragraph 4 of this article, natural persons-non-residents are entitled, subject to the provisions of paragraph 7 of this article to export from the Russian Federation previously imported to the Russian Federation cash foreign currency within the amount indicated in the customs declaration, confirming its import into the Russian Federation. (Supplemented by federal law from 27.02.2003 N 28-FZ)
6. A one-time removal of the Russian Federation by natural persons-non-residents of foreign currency in an amount exceeding the equivalent of 10000 (ten thousand) us dollars, the United States is not permitted, except as provided for in paragraph 5 of this article. (Supplemented by federal law from 27.02.2003 N 28-FZ)
7. When a single exported from the Russian Federation to non-resident individuals of cash foreign currency in an amount not exceeding the equivalent of 3000 (three thousand) dollars, the United States exported cash in foreign currency shall not be declared to the customs authority of the Russian Federation.
When a single exported from the Russian Federation to non-resident individuals of cash foreign currency in an amount exceeding the equivalent of 3000 (three thousand) dollars, the United States exported cash in foreign currency shall be declared to the customs authority of the Russian Federation by filing a written customs declaration.
(Para supplemented by federal law from 27.02.2003 N 28-FZ) Article 9. The Central Bank of the Russian Federation as the Monetary Authority 1. The Central Bank of the Russian Federation is the principal monetary authority in the Russian Federation.
2. the Central Bank of the Russian Federation in the framework of this law: (a)) defines the scope of and procedure for treatment in the Russian Federation, foreign currency and securities in foreign currency;
b) publishes regulations binding on the Russian Federation residents and non-residents;
in) carries out all types of currency transactions;
g) sets out rules for the conduct of residents and non-residents in the Russian Federation, foreign currencies and securities in foreign currency, as well as the rules of the non-resident in the Russian Federation the Russian Federation currency operations and securities transactions in the currency of the Russian Federation;

d) establishes the procedure for compulsory transfer, importation and sent to the Russian Federation, foreign currency and securities in foreign currency, belonging to residents, as well as cases and conditions for opening resident foreign currency accounts in banks outside the Russian Federation;
e) establishes common rules for issuing licenses to banks and other credit institutions for currency transactions and issue such licences;
f) sets uniform form of accounting, reporting, documentation and statistics of foreign exchange transactions, including authorized banks, as well as the procedure and deadlines for their submission;
w) prepares and publishes statistics on foreign exchange operations of the Russian Federation to accepted international standards;
and) perform other functions provided for in this Act.
R a w d e l III. CURRENCY CONTROL Article 10. The purpose and direction of exchange controls 1. The aim is to ensure compliance with the monetary control of the currency legislation in carrying out foreign exchange operations.
2. The main directions of the monetary control are: a) definition of conformity carried out by foreign exchange transactions to the legislation and the availability of necessary licenses and permissions;
b) verification of compliance with obligations in foreign currency by residents of the State, as well as commitments to sell foreign currency on the internal currency market of the Russian Federation;
in) checking validity of payments in a foreign currency;
g) verifying the completeness and objectivity of accounting and reporting of currency transactions as well as transactions in the currency of the Russian Federation.
Article 11. Bodies of currency control and currency control agents 1. Foreign exchange control is implemented in the Russian Federation the Government of the Russian Federation, bodies of currency control and currency control agents in accordance with the legislation of the Russian Federation.
2. currency control Bodies in the Russian Federation are the Central Bank of the Russian Federation, federal bodies of executive power within the competence established by federal laws, as well as the federal body of executive power, authorized by the Government of the Russian Federation.
3. currency control Agents are authorized banks, reporting to the Central Bank of the Russian Federation, as well as organizations subordinate to the federal authorities, in accordance with the legislation of the Russian Federation.
4. Monitoring Commission of foreign exchange transactions by credit institutions and currency exchanges carries out the Central Bank of the Russian Federation.
5. Monitoring Commission of currency transactions residents and non-residents that are not credit institutions or currency exchanges, within its competence, exercise the federal bodies of executive power are organs of currency control and currency control agents.
6. the Government of the Russian Federation provides a delineation of the roles and interaction of federal bodies of executive power in the sphere of currency control, as well as their interaction with the Central Bank of the Russian Federation.
7. the Central Bank of the Russian Federation cooperates with other foreign exchange control authorities within their competence and interacts with them authorized banks as agents of foreign exchange controls.
(Article in the Editorial Office of the Federal law of 31.05.2001 N 72-FZ) Article 12. The powers of the bodies and agents of currency control 1. Foreign exchange control authorities within their competence, normative acts binding on all residents and non-residents in the Russian Federation.
2. bodies and currency control agents within its competence: a) monitored by the Russian Federation resident and non-resident currency operations of the conformity of these operations, legislation, conditions of licenses and permits, as well as for their compliance with acts of currency control;
b) validation of currency operations for residents and non-residents in the Russian Federation.
3. foreign exchange control Authorities determine the order and form of accounting, reporting and documentation of currency operations for residents and non-residents.
Article 13. The rights and obligations of residents and non-residents 1. Residents and non-residents, carrying out foreign exchange operations in the Russian Federation, as well as non-residents engaged in transactions with foreign currency and securities of the Russian Federation in the currency of the Russian Federation, have the right: a) to familiarize himself with acts of checks carried out by the organs and agents of currency control;
b) appeal against the actions of the agents of foreign exchange controls to the appropriate bodies of the currency control, as well as the actions of foreign exchange controls in the order established by the legislation of the Russian Federation;
in) to other rights established by this law and other legislative acts of the Russian Federation.
2. Residents and non-residents, carrying out foreign exchange operations in the Russian Federation, as well as non-residents engaged in transactions with foreign currency and securities of the Russian Federation in the currency of the Russian Federation shall:

(a)), to the organs and agents of currency control documents and all requested information on the implementation of currency transactions;
b) represent the bodies and agents of currency control explanation in the course of their audits, as well as their results;
in) in case of disagreement with the facts set forth in the Act of inspection made by the organs and agents of foreign exchange controls, provide a written explanation of refusal thereof;
g) maintain records and reporting on their ongoing currency operations, ensuring their keeping at least five years;
d) fulfil the requirements (requirements) exchange control authorities on Elimination of revealed violations;
e) perform other responsibilities established by legislation of the Russian Federation.
Article 14. Liability for violation of foreign exchange legislation 1. Persons guilty of violating currency laws, incur criminal, administrative, civil or other liability in accordance with the legislation of the Russian Federation.
2. repeated violation of foreign exchange legislation, as well as the failure to execute or insufficient execution of requirements of currency control bodies is grounds for suspension of licences and permits issued by the exchange control authorities for residents, including authorized banks, or non-residents, or to deprive them of such licenses and permits.
3. all received by residents, including authorized banks, and non-residents of invalidated this law deals, as well as all wrongfully acquired by the transaction, and not as a result of unlawful acts will be subject to seizure in the State.
(Article in the Edition out federal law N 196-FZ) Article 15. Rights and duties of officials and agents of foreign exchange controls. Appeal of actions of officials of foreign-exchange controls 1. Officials and currency control agents within the competence of these bodies have the right to: a) check all documents related to the exercise of the functions of currency control, receive the necessary explanations, help and information on issues arising from audits, as well as impound documents evidencing violations in the sphere of currency legislation;
b) to suspend operations on the accounts in the authorized banks in the absence of the submission of documents referred to in this article and information;
b) suspend or revoke the resident, including authorized banks, as well as non-resident licences and permits to conduct foreign exchange operations;
g) other rights stipulated by the legislation of the Russian Federation.
2. bodies and currency control agents and their officials are obliged to maintain them has become a well-known currency control functions performed by resident and non-resident commercial secrets.
3. currency control Bodies and their officials in case of inappropriate implementation of their duties could be prosecuted in the manner prescribed by the legislation of the Russian Federation.
The President of the Russian Federation, b. Yeltsin Moscow, House of Soviets of Russia October 9, 1992 N 3615-I