On Production Sharing Agreements

Original Language Title: О соглашениях о разделе продукции

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RUSSIAN FEDERATION FEDERAL LAW On Product Section Agreements Adopted by the State Duma on 6 December 1995 Approved by the Federation Council on 19 December 1995 class="ed">(In the edition of federal laws of 07.01.99 grams) N 19-FZ; of 18.06.2001 N 75-FZ; dated 06.06.2003 N 65-FZ; dated 29.06.2004 N 58-FZ; dated 29.12.2004 N 199-FZ; dated 30.12.2008. N 309-FZ; dated 19.05.2010. N 89-FZ; , 19.07.2011 N 248-FZ; dated 29.06.2015 N 205-FZ) This Federal Law, adopted on the development of the Russian Federation's legislation on subsoil use and investment activity, establishes the legal basis for the relations arising from OF THE PRESIDENT OF THE RUSSIAN FEDERATION The terms and conditions of product sharing agreements. Chapter I. GENERAL PROVISIONS Article 1. The relationships governed by this Federal Law 1. This Federal Law regulates relations arising in the process of concluding, enforcing and terminating agreements on the division of products, and defines the basic legal conditions of such agreements. 2. Relationship not resolved by this Federal Act, including those arising from the use of land and other natural resources, and the specific application of this Federal Act, subject to restrictions or prohibitions on the right to The property of precious metals, natural precious stones, radioactive raw materials and other metals and products are regulated by the legislation of the Russian Federation on subsoil, other laws and other normative legal acts of the Russian Federation. THE RUSSIAN FEDERATION 3. The relationships that arise in the process of prospecting, exploration and production of minerals, division of produced goods, as well as its transportation, processing, storage, processing, use, disposal or disposition, are otherwise regulated A section of products concluded under this Federal Act. The rights and obligations of the parties to the agreement on the division of products of a civil nature are determined in accordance with this Federal Law and the civil legislation of the Russian Federation. 4. In the event that the laws of the Russian Federation establish other rules than those provided for in this Federal Act, the regulation of the relations referred to in paragraph 1 of this article shall apply the rules of the present article. Federal law. Article 2. Product section 1. The agreement on the division of products (hereinafter referred to as the agreement) is a treaty under which the Russian Federation provides the subject of entrepreneurial activity (hereinafter referred to as the investor) on a reimbursable basis and for a certain period of time exclusive The right to prospecting, exploration, extraction of minerals from the subsoil under the agreement and the conduct of related works, and the investor undertakes to carry out the said works at his own expense and at his own risk. The Agreement shall establish all necessary conditions relating to the use of the mineral resources, including the conditions and procedure for the division of goods produced between the parties, in accordance with the provisions of this Federal Law. 2. The conditions for the use of the subsoil, as set out in the agreement, shall be in accordance with the legislation of the Russian Federation. The subsoil use may be restricted, suspended or terminated under the terms of an agreement concluded in accordance with the laws of the Russian Federation. (The paragraph in the revision of the Federal Law of 07.01.99) N 19-FZ 3. The lists of subsoil areas subject to the provisions of this Federal Act may be granted under the provisions of this Federal Act by federal law. In the edition of federal laws, of 07.01.99 N 19-FZ; dated 06.06.2003 N 65-FZ) The draft federal laws, as well as the draft federal laws on amendments and additions to these federal laws, are submitted to the State Duma of the Federal Assembly OF THE PRESIDENT OF THE RUSSIAN FEDERATION of the Russian Federation Relevant subsoil areas. (...) (...) N 19-FZ) Subsoil plots are included in the lists of subsoil areas for which there is justification by the Government of the Russian Federation for the inclusion of such subsoil assets in the indicated lists. (The new paragraph is supplemented by the Federal Law of 07.01.99). N 19-FZ)A decision of the legislative (representative) body is required for the indigenous peoples in the area of traditional residence and economic activities of small indigenous peoples OF THE PRESIDENT OF THE RUSSIAN FEDERATION class="doclink " href=" ?docbody= &prevDoc= 102038941&backlink=1 & &nd=102057519 "target="contents" title= " "> July 07.01.99 N 19-F) It is permitted to provide, on a section of products, not more than 30 percent of the discovered and accounted for the state balance of mineral resources. (New paragraph added-Federal law July 07.01.99 N 19-FZ 4. The grounds for inclusion in the lists of subsoil areas of the subsurface is the lack of geological exploration, exploration and mining of other mineral resources OF THE PRESIDENT OF THE RUSSIAN FEDERATION Affirm of the absence of such an opportunity is the holding of an auction for the right to use the subsoil section on different terms than the section of the products, in accordance with the law of the Russian Federation " O Subsoil (in the wording of Federal Act No. 27-FZ of 3 March 1995) and the recognition of the auction due to the absence of participants. In case the subsoil user, to which the subsurface area was granted under other conditions than the division of products, will express the desire to conclude a product division agreement for the subsoil area, the auction provided for Paragraph 2 of this paragraph may only be held after the decision on the early termination of the right to use the subsoil area upon application of the non-user. In this case, the terms and conditions of the auction of the second paragraph of this paragraph and the terms of the auction for the conclusion of the agreement referred to in article 6, paragraph 1, of this Federal Act, shall be agreed upon by the non-user. provides compensation for the cost of the old non-user. The user is required to submit a report on the valuation of the property complex, which is intrinsically linked to the exercise of the right to use subsoil use, prior to the date of the auction An independent assessor carrying out its activities in accordance with the laws of the Russian Federation and a draft treaty on the sale of the property complex in general or part thereof. In case of disagreement with the applicant for participation in the auction, with the assessment of the property complex, inherent in the exercise of the right to use the subsoil, and (or) other terms of the contract of sale The property complex, in general, or parts thereof, of the final terms of the said contract shall be established by the courts. In case of confirmation of the lack of geological exploration, exploration and production of mineral resources on the terms of subsoil use, which do not provide for the conclusion of an agreement, subsoil can be included in the list of sites The following conditions may be granted by the Government of the Russian Federation: if the development of this subsurface area can ensure the retention of workers area for the forming organization, and the termination of development This section of the subsoil will lead to negative social consequences; if the development of this subsoil area is necessary for the involvement of mineral resources located on the continental shelf of the Russian Federation The Federation and the regions of the Far North and similar localities are located in areas where human settlements, transport and other infrastructure are lacking; of high-cost technologies for the extraction of hard-to-time, significant the amount of mineral resources in difficult mining and geological conditions. (New paragraph 4 complemented by Federal Law from 07.01.99 g. N 19-FZ; as amended by Federal Law of 06.06.2003 N 65 FZ)5. (Deleted-Federal Law of 06.06.2003) N 65 FZ) (New paragraph 5: Federal Law of 07.01.99) N 19-FZ 6. Within the limits of the powers established by the Constitution of the Russian Federation and federal laws, the constituent entities of the Russian Federation Legislative regulation of their participation in productionrelated agreements in the use of subsoil assets in their territories.(Paragraph 4 should be considered as paragraph 6 of the federal law from 07/01/99 N 19-FZ) 7. Agreements concluded prior to the entry into force of this Federal Act shall be enforceable according to certain conditions. However, the provisions of this Federal Act apply to the said agreements insofar as its application does not contravene the terms of such agreements and does not limit the rights acquired and exercised by investors in accordance with these agreements. Paragraph 5 should be considered as paragraph 7 of the Federal Law of 07.01.99. N 19-FZ) Article 3. Parties to the agreement 1. Parties to the agreement (hereinafter referred to as the Russian Federation), on whose behalf the Government of the Russian Federation or its authorized bodies are in the agreement; class="ed"> (In the version of the Federal Law of 29.12.2004) N 199-FZ ) investors-legal persons and created on the basis of a joint activity agreement and not having the status of a legal entity of the association of legal entities engaged in the investment of their own, loan or borrowed Assets (property and (or) property rights) in prospecting, exploration and production of minerals and subsoil users under the terms of the agreement. (In the wording of Federal Law of 06.06.2003) N 65 FZ) 2. In the event that an association of legal entities does not act as an investor in an agreement, the members of such association shall have joint and several rights and shall be jointly and severally liable. Article 4. Use of subsoil subsoil under section products 1. The right to use subsoil sections under the terms of the product is given to the investor on the basis of an agreement concluded in accordance with this Federal Law. 2. Subsoil section shall be available for use to the investor in accordance with the terms of the agreement. The license for the use of subsoil subsoil, which certifies the right to use the subsurface area specified in the agreement, shall be issued to the investor in accordance with the procedure established by the legislation of the Russian Federation on subsoil, 30 days from the date of the signing of the agreement. The licence shall be issued for the duration of the agreement and shall be subject to renewal or rearrangement or cease to have effect in accordance with the terms of the agreement. (In the wording of Federal Law No. N 199-FZ 3. In the event that an investor does not have the status of a legal entity, the licence referred to in paragraph 2 of this article shall be issued by one of the members of such association, with an indication in that licence that This member acts on behalf of this association, as well as all other join participants. Article 5. Term of the agreement 1. The validity of the agreement shall be established by the parties in accordance with the legislation of the Russian Federation acting on the day of the conclusion of the agreement. 2. The agreement on the initiative of the investor, as well as the fulfilment of its commitments, is extended for a period of sufficient time to complete the economically viable mining and to ensure rational use and the subsoil. In so doing, the terms and conditions of such an extension are determined by the agreement. When extending the agreement, the license for subsoil use specified in article 4, paragraph 2, of this Federal Law is subject to the renewal of the agreement by the bodies which issued the licence. Chapter II: CONCLUSION AND IMPLEMENTATION OF AGREEMENTS Article 6. The order of the agreement 1. The agreement may be concluded with the winner of the auction, conducted in accordance with the procedure established by the legislation of the Russian Federation and agreed by the parties, but not later than one year from the date of the establishment of the commission referred to in paragraph 3 of this article. The auction winner is the winner of the auction, offering the highest price for the right to conclude an agreement. (...) (...) N 65-FZ) Auction conditions should provide for the participation of Russian legal entities in the implementation of agreements in shares determined by the Government of the Russian Federation. (The new paragraph is supplemented by the Federal Law of 07.01.99). N 19-FZ; as amended by Federal Law of 06.06.2003 N 65-FZ; Federal Law of 29.12.2004 N 199-FZ )In respect of subsoil areas located in the territories of indigenous peoples ' traditional residence and economic activities, the terms of the auction shall be subject to payment Relevant compensation for violation of the regime of traditional natural resource use. (The new paragraph is supplemented by the Federal Law of 07.01.99). N 19-FZ; as amended by Federal Law of 06.06.2003 N 65-FZ) Initial auction conditions are developed on the basis of feasibility studies commissioned by the public authorities responsible for tenders or auctions. Act of 7 July 1999 19-FZ; in the wording of Federal Law of 06.06.2003 N 65 FZ) Agreements are concluded on the basis of the provisions established by the legislation of the Russian Federation. Agreements relating to the use of subsoil areas located on the continental shelf of the Russian Federation and (or) within the exclusive economic zone of the Russian Federation, as well as modifications and additions to those agreements, are approved by separate federal laws. (...) (...) N 65 FZ 2.(Deleted-Federal Law of 06.06.2003) N 65-FZ) 3. The development of conditions for subsoil use, preparation of the draft agreement and negotiation with the investor for each subsoil use is carried out by a commission established in accordance with the procedure established for the establishment of inter-institutional coordination and OF THE PRESIDENT OF THE RUSSIAN FEDERATION The commission shall be set up not later than six months from the date of the announcement of the results of the auction. (...) (...) N 65-FZ; dated 29.06.2004 N 58-FZ) The commission is composed of representatives of the federal executive authorities, including representatives of the federal government of the State Subsoil Fund (or) OF THE PRESIDENT OF THE RUSSIAN FEDERATION In cases where the subsurface areas are located on the territory of the traditional residence and the economic activities of small indigenous peoples, the commission shall be composed of representatives of the Federal OF THE PRESIDENT OF THE RUSSIAN FEDERATION If necessary, the work of the commission shall be organized by the production and scientific organizations, as well as by experts and consultants. Funding of work related to the development of the terms of the auction, feasibility study and preparation of the draft agreement is carried out at the expense of the funds received from the implementation of the agreement. (...) (...) N 65 FZ) (Paragraph in the wording of Federal Law of 07.01.99) N 19-FZ 4. The signing of the agreement by the State is carried out by the Government of the Russian Federation. (In the wording of the Federal Law 29 December 2004 N 199-FZ) (Paragraph of -2 lost power-Federal Law of 29.12.2004) N 199-FZ) (Paragraph 3 is lost due to Federal Act No. N 199-FZ) 5. The signing of the agreement between the parties to the negotiations agreed upon by the parties shall be concluded between the authorized representatives of the parties to the negotiations, as a result of which all the necessary conditions of the agreement, which were not mandatory, should be agreed upon. Auction conditions. The terms of the agreement must not contradict the obligatory conditions of the auction. (...) (...) N 65 FZ) 6. The decision on the signing of the agreement by the State is made by the Government of the Russian Federation. (In the wording of Federal Law dated June 29, 2004. N 199-FZ) Article 7. Work conditions 1. The work and activities of the agreement (hereinafter referred to as the agreement) shall be carried out in accordance with the programmes, projects, plans and estimates approved in the manner determined by the agreement. 2. The agreement is implemented in compliance with the requirements of the Russian legislation, as well as compliance with the established standards (norms, rules) for safe operation, protection of mineral resources, environment and health Population. The agreement provides for the investor's obligations to: (as amended by the Federal Law of 30 December 2008). N 309-FZ) Provision of priority to Russian legal persons to participate in the work of the agreement as contractors, suppliers, carriers or otherwise under treaties (contracts) with investors; (In the wording of the Federal Law of 07.01.99) N 19-FZ) attracting employees of the Russian Federation, whose number should be at least 80% of the staff involved, attracting foreign workers and specialists Only at the initial stages of the agreement or in the absence of workers and specialists of the Russian Federation of the respective qualifications; (New paragraph added-Federal law July 07.01.99 N 19-FZ )Acquisition of necessary for geological study, mining, transportation and processing of mineral resources, technical equipment and materials of Russian origin in At least 70 per cent of the total value of acquired (including lease, lease and other grounds) in each calendar year for the performance of the agreement of equipment, equipment and materials, acquisition costs Compensatory and compensatory benefits for the investor production. For the purposes of this Federal Act, equipment, equipment and materials are considered to be of Russian origin provided that they are made by Russian legal entities and (or) citizens of the Russian Federation in the territory of the Russian Federation. OF THE PRESIDENT OF THE RUSSIAN FEDERATION The federal law of 7 January 1999 was amended. 19-FZ; in the wording of the Federal Law of 6 June 2003 N 65-FZ) 19-FZ; deleted-Federal Law of 06.06.2003 N65 FZ Measures to prevent the harmful effects of these activities on the environment and to eliminate the consequences of such influence; (In the wording of Federal Law dated 30.12.2008 N 309-F) liability insurance for damages in the event of accidents resulting in harmful effects on the environment; (In the wording of Federal Law dated 30.12.2008 N 309 F) liquidation of all installations, installations and other equipment upon completion of the agreement, as well as the clean-up of the contamination of the territory on which the agreement was conducted. Parties should stipulate in the agreement the condition that at least 70 per cent of the technology equipment in value terms for the extraction, transportation and processing of mineral resources (if any) "The agreement is to be purchased and/or used by the investor to perform the work on the agreement must be of Russian origin." This provision does not apply to the use of trunk pipelines, construction and acquisition of which are not covered by the agreement. (...) (...) N 65 FZ) Parties should stipulate in agreements the condition that not less than a certain part of the technology equipment for the extraction and processing of mineral resources (if provided for by the agreement), The investor shall be purchased in the territory of the Russian Federation. (...) (...) N 75-FZ) Provisions of this article that contradict the principles of the World Trade Organization, if the Russian Federation joins the World Trade Organization, lose its power or should be brought into line with these principles in accordance with the terms and conditions stipulated in the documents of the World Trade Organization and the agreement on the accession of the Russian Federation to the World Trade Organization. (The paragraph is supplemented by the Federal Law of 06.06.2003). N 65-FZ) 3. The investor is obliged to take measures under the legislation of the Russian Federation in the facilities located in the areas of traditional residence and economic activities of small indigenous peoples. Protection of the native habitat and traditional way of life of small indigenous minorities, as well as the payment of appropriate compensation in the cases and in accordance with the procedure established by the Government of the Russian Federation. (...) (...) N 19-FZ) 4. The organization of work on the agreement, including the maintenance of accounting and reporting in accordance with the provisions of Article 14 of this Federal Law, is carried out by the investor or by the investor's order by the operator of the agreement. As such an operator whose subject matter should be limited to the organization of the works, may be created by the investor for such purposes in the territory of the Russian Federation, branches or legal entities or involved For these purposes, legal entities, as well as foreign legal entities carrying out activities in the territory of the Russian Federation. At the same time, the investor is responsible to the state for the actions of the operator of the agreement as for his own actions. (...) (...) 19 FZ 5. Upon completion of certain stages of prospecting and exploration of mineral deposits, the investor is obliged to return the parts of the territory allocated to it in accordance with the terms of the agreement. The size of the returned sites, as well as the procedure, terms and conditions of their return, shall be determined by the agreement. 6. Geological and techno-economic information on facilities subject to the agreement and the extraction of minerals should be submitted to the State examination in accordance with the law of the Russian Federation. 7. In order to coordinate the work on the agreement, the parties must establish a governing committee, which includes an equal number of representatives on each side. The size, rights and obligations of the governing committee, as well as the procedure for its work, shall be determined by agreement. The procedure for the appointment of representatives of the State in the administering committee, their powers and the procedure for the preparation and adoption by the persons concerned of the decisions on behalf of the State shall be established by the Government of the Russian Federation. (In the wording of the federal law of 07.01.99) N 19-FZ; dated 29.12.2004 N 199-FZ) Article 8. Product Section 1. The products are subject to the division between the State and the investor, in accordance with the agreement, which must provide (except as provided for in paragraph 2 of this article) the conditions and order of: The volume of production and its value. The production of the products is recognized as the quantity of mining products and quarrying products, contained in the actual (extracted) minerals (waste, losses) of minerals (breed, liquid and other mixture), the first by the quality of the national standard, the regional standard, the international standard, and in the absence of the specified standards for an individual extracted mineral, the standard of the organization obtained by the investor in the progress of the work on the agreement and the reduced quantity (...) (...) N 248-FZ) The definition of part of produced goods transferred to the investor's property in order to recover its costs for the performance of the agreement (hereinafter referred to as compensation). At the same time, the threshold limit for compensation should not exceed 75 per cent, and 90 per cent of total production on the continental shelf of the Russian Federation. The composition of the costs to be reimbursed to the investor at the expense of compensation is determined by the agreement in accordance with the legislation of the Russian Federation; the section between the State and the investor of the profitable products under which The product is understood to be the product of the agreement, minus part of the product, the value of which is used for the payment of a mineral tax and compensation for the reporting (tax) period; the investor's transfer to the State of compliance with the terms of the agreement of a portion of the manufactured product or its value; investor's receipt of produced products that belong to it under the terms of the agreement. (Paragraph in the wording of the Federal Law of 06.06.2003) N 65-FZ)2. In some cases, the division of produced goods between the State and the investor under the agreement may be in a different order than the one set out in paragraph 1 of this article. The agreement should include conditions and order: the determination of total production and its value; section between the State and the investor of the production or the value equivalent manufactured products and the identification of the share of manufactured goods by the State and the investor. The portions of such a section are determined by the agreement depending on the geological and monetary estimates of the subsoil area, the technical project, the indicators of the feasibility study of the agreement. At the same time, the share of the investor in the produced goods should not exceed 68 percent; (as amended by the Federal Law of 06.06.2003). N 65-FZ) transfer to the State of its own part of the production or its value; receipt by the investor of a portion of the manufactured products belonging to it in accordance with the terms of the agreement. The terms and conditions of the agreement must be specified in the terms of the auction in accordance with the terms and conditions specified. (...) (...) N 65 FZ) 3. The agreement may only provide for one way of section of the products referred to in this article. The Agreement shall not provide for the transition from one method of the section of produce set out in this article to another set out in this article, as well as to the substitution of one method of production of the goods on the other. (Paragraph is amended by the Federal Law of 06.06.2003). N 65-FZ) (Article in the wording of Federal Law No. N 75-FZ) Article 9. The right of the investor to own a manufactured product 1. Some of the products manufactured under the terms of the agreement are owned by the investor. (...) (...) N 75-FZ 2. Mineral raw materials coming under the terms of the agreement to the property of the investor may be removed from the customs territory of the Russian Federation on terms and in the manner determined by this agreement, without quantitative restrictions export, except as provided by the Federal Law on State Regulation of Foreign Trade Activity. Article 10. Distribution and implementation of the state share of manufactured products 1. The implementation of the State share of produced goods is carried out in accordance with federal laws. The distribution of the value of production, as well as other revenues received by the state as a result of the division of products, between the Russian Federation and the constituent entity of the Russian Federation, in the territory which is allocated to the use of the subsurface area, is carried out in accordance with the procedure established by federal law. Revenues from the implementation of the agreement obtained from subsurface areas of the inland sea, territorial sea and continental shelf of the Russian Federation shall be credited to the federal budget. Federal Law of 29.12.2004 N 199-FZ 2.(Spated out-Federal Law of December 29, 2004) N 199-FZ 3.(Spated out-Federal Law of December 29, 2004) N 199-FZ) Article 11. The right to own property of property (in the wording of the Federal Law of 29.06.2015). N 205-FZ 1. The property, newly created or acquired by the investor and used to perform the work under the agreement is the property of the investor, unless otherwise stipulated in the agreement. The right of ownership of the said property may be taken from the investor to the State from the day when the value of the said property is fully recovered, or from the day of the termination of the agreement, or otherwise agreed upon by the parties on the terms and conditions in the manner provided for in the agreement. At the same time, during the term of the agreement, the investor shall be granted the exclusive right to use such property on a pro bono basis for the operation of the agreement and the investor shall bear the burden of maintaining it. property and the risk of accidental death or accidental damage. If the ownership of the property is transferred to the State, the property is a federal property. OF THE PRESIDENT OF THE RUSSIAN FEDERATION (In the wording of Federal Law No. N 199-FZ 2. (Spconsumed by Federal Law of 29.06.2015) N 205-FZ) Article 11-1. Geological information about subsoil under implementation of agreements 1. The Russian Federation is the holder of the primary geological information about the subsoil and the geological information that has been obtained in the performance of the work on the agreement. 2. The right to own tangible media containing geological information about the subsoil obtained in the performance of the work on the agreement belongs to the Russian Federation. 3. Under the terms of confidentiality provided by the agreement, the investor shall have the right to freely and freely use geological information about the subsoil in order to carry out the work of the agreement. 4. Terms of use of geological information on subsoil obtained during the execution of the work on the agreement are determined by the agreement in accordance with the legislation of the Russian Federation. Law of 29.06.2015 N 205-FZ) Article 12. Transportation, storage and processing minerals 1. The investor has the right of free access on a contractual basis to pipeline facilities, as well as the right to freely use pipelines and other means of transport, storage and processing facilities Mineral raw materials without any discriminatory conditions. 2. The investor in the framework of the agreement is entitled to the construction of facilities for the storage, processing and transportation of mineral raw materials, the ownership of which is determined by the agreement, taking into account the provisions of Article 11 of the present Federal law. Article 13. Taxes and payments in the execution of the agreement 1. The Agreement applies a special procedure for calculating and paying taxes and fees established by the Tax Code of the Russian Federation and other laws of the Russian Federation on taxes and charges. 2. In the execution of the agreement, the investor pays a one-time payment for the use of the subsurface in the event of the events defined in the agreement and the license (bonuses), annual payments for the treaty area and seabed areas paid in the order, In accordance with the legislation of the Russian Federation on the date of the signing of the agreement, the fee for participation in the tender, the fee for issuing the license, regular payments for the use of mineral resources (rentals), compensation of costs of the State in prospecting and exploration for mineral resources, The result of the work being done by the indigenous minorities of the Russian Federation in the areas of their traditional subsistence and economic activities. The amounts of the said payments and the timing of their payment are determined by the terms of the agreement. (...) (...) N 89-FZ) The procedure for determining amounts of compensation for the costs of the State for prospecting and exploration of mineral resources, compensation for damage caused by the agreement of the small indigenous peoples of the Russian Federation The Federation is established by the Government of the Russian Federation in the places of their traditional residence and economic activities. The procedure for crediting the budgets of different levels of the Russian Federation's budget system is determined by the budgetary legislation of the Russian Federation. Federal Law of 06.06.2003 N65 FZ) Article 14. Accounting and Reporting 1. The accounting of the financial and economic activities of the investor in the performance of the agreement shall be carried out under each separate agreement, and also separately from such accounting in the performance of other activities not related to the agreement. The procedure is determined in accordance with the legislation of the Russian Federation. (...) (...) N 75-FZ; dated 06.06.2003 N 65 FZ) 2. Accounting and reporting in the performance of agreements are maintained in the currency of the Russian Federation (roubles) or in foreign currency. In the event that the accounting is conducted in foreign currency, the accounts provided to the public authorities should contain data, calculated both in the foreign currency accepted and in rubles. At the same time, all the data, calculated in foreign currency, should be converted into rubles at the rate of the Bank of Russia on the day of reporting. Article 15. Bank accounts and foreign currency regulation To work on an agreement the investor should have special bank accounts in rubles and (or) foreign currency in banks in the territory of the Russian Federation and (or) in the territories of foreign States, which are used solely for the purpose of carrying out these activities. (In the wording of Federal Law of 06.06.2003) N 65 FZ) (Paragraphs 2 and 3 are excluded-Federal Law of 06.06.2003) N65 FZ) Article 16. Transfer of rights and obligations under an agreement 1. An investor has the right to transfer, in whole or in part, his rights and obligations under an agreement to any legal person or any citizen (natural person) only with the consent of the State, provided that these persons have sufficient financial and The technical resources and management experience required to carry out the work on the agreement. 2. Transfer of rights and obligations under an agreement shall be in writing by means of a special act which is an integral part of the agreement, in the manner and within the time frame specified by the agreement, and shall be accompanied by an appropriate act. To re-discharge the license for subsoil use within 30 days of the date of signature of the said act. 3. With the consent of the State, the investor may use his or her property and property rights as collateral to secure its obligations under the contracts concluded in connection with the performance of the agreement, subject to compliance with the requirements OF THE PRESIDENT OF THE RUSSIAN FEDERATION Article 17. Stability of the terms of the agreement 1. The terms of the agreement remain valid for the duration of the agreement. Changes to the agreement are permitted only by the consent of the parties as well as at the request of one of the parties in the event of a significant change of circumstances according to Civil Code of the Russian Federation. Changes to the terms of the agreements made by the parties are entered into in the same order as the original agreements. (In the wording of Federal Law of 06.06.2003) N 65 FZ) 2. If, during the period of validity of the agreement, the legislation of the Russian Federation, the legislation of the constituent entities of the Russian Federation and the legal acts of the local self-government bodies will establish norms that will result in deteriorating commercial results. The activities of the investor within the framework of the agreement, the agreement is amended to provide the investor with the commercial results that could be obtained by applying the laws in force at the time of the agreement of the Russian Federation. OF THE PRESIDENT OF THE RUSSIAN FEDERATION the local authorities. The procedure for making such changes is determined by the agreement. The provision to modify the terms of the agreement is not applicable if the laws of the Russian Federation amend the standards (norms, rules) for safe operation, protection of the subsoil, environment and health (a) The Conference of the Parties, (In the wording of Federal Law of 30.12.2008) N 309-FZ) Article 18. State guarantees of investor rights 1. The protection of property and other rights acquired and exercised under the agreement is guaranteed to the investor. 2. The investor is not subject to normative legal acts of the federal executive authorities, as well as the laws and other normative legal acts of the constituent entities of the Russian Federation and the legal acts of the local self-government bodies, if any. The said acts establish restrictions on the rights of the investor acquired and exercised in accordance with the agreement, with the exception of the requirements of the relevant supervisory authorities, which are issued in accordance with the legislation of the Russian Federation. the objectives of safe keeping, the protection of the subsoil, the environment, The health of the population, as well as in order to ensure public and public safety. (In the wording of Federal Law of 30.12.2008) N 309-FZ) Article 19. Control of the execution of the agreement 1. State control over the execution of the agreement is carried out by the federal state authorities in accordance with their competence jointly with the State authorities of the relevant constituent entity of the Russian Federation. 2. The authorized representatives of the authorities referred to in paragraph 1 of this article shall have the right to unimpeded access to the facilities for the operation of the agreement and to the documentation relating to To carry out these activities, solely for the purpose of monitoring the implementation of the agreement. 3. The Government of the Russian Federation shall submit to the State Duma of the Federal Assembly of the Russian Federation, together with the draft federal law on the federal budget for the relevant year, a report on the results of the work on the implementation of the agreements section of the product. This report is sent to the Accounts Chamber of the Russian Federation and is considered by the State Duma of the Federal Assembly of the Russian Federation only upon presentation by the Court of Accounts of the Russian Federation In its opinion. (The paragraph is amended to include the Federal Law of 07.01.99). N 19-FZ) Article 20. The responsibility of the parties to the agreement 1. The parties are responsible for the failure or improper performance of their obligations under the agreement in accordance with the terms of the agreement under the civil law of the Russian Federation. 2. OF THE PRESIDENT OF THE RUSSIAN FEDERATION The obligations under the agreement, as well as the procedure for relations between the federal executive authorities and the executive authorities of the respective constituent entity of the Russian Federation, in the consideration of the investor's claims presented to the State, concerning the performance of their obligations under the agreement by the State shall be established by the treaties referred to in article 10, paragraph 1, of this Federal Act. Article 21. Termination of the agreement 1. The agreement shall expire at the end of the period of its validity or on the agreement of the parties, as well as on other grounds and in accordance with the procedure established by the agreement in accordance with the legislation of the Russian Federation acting on the date of the agreement. The signing of the agreement. Termination of the agreement on the agreement of the parties shall be entered into in the same manner as the original agreement, with the exception of the auction procedure. 2. The Agreement, whose provisions on the method of taxation of an investor under articles 8 and 13 of this Federal Law have not entered into force within one year of the date of the signing of the agreement, shall cease to have effect after one year from the date of its signature, without complying with the conditions set out in paragraph 1 of this article. 3. The subsurface of the subsoil under which the agreement is terminated pursuant to paragraph 2 of this article may be made available for use on the terms of the product only after the auction for the right to use subsoil under other conditions than division of products and the recognition of the auction due to the absence of the participants, and also in compliance with the provisions of Articles 2 and 6 of this Federal Law. Federal Act dated 06.06.2003 N 65 FZ) Article 22. Settlement of disputes Disputes between the State and the investor connected with the execution, termination and invalidity of the agreements are settled in accordance with the terms of the agreement in court, the arbitral tribunal or the arbitral tribunal (including in international arbitration institutions). Article 23. State immunity In agreements concluded with foreign nationals and foreign legal entities, the State' s legislation may provide for a State' s waiver of judicial immunity, immunity in respect of the prior enforcement of a claim and for the enforcement of an arbitral award (s). Chapter III. FINAL PROVISIONS Article 24. The international treaties of the Russian Federation If an international treaty of the Russian Federation establishes rules other than those provided for by this Federal Act, the rules of the international treaty shall apply. Article 25. The entry into force of this Federal Law is effective from the date of its official publication. Article 26. To bring regulatory legal acts into conformity with this Federal Law 1. Invite the President of the Russian Federation, representative and executive bodies of the State authorities of the constituent entities of the Russian Federation, within three months, to bring their normative legal acts into conformity with this Federal Law. 2. The Government of the Russian Federation, the Bank of Russia, within three months, to bring its normative legal acts into compliance with this Federal Law and to submit it to the State Duma of the Federal Assembly of the Russian Federation in accordance with the established procedure. OF THE PRESIDENT OF THE RUSSIAN FEDERATION 3. The Government of the Russian Federation, in the first quarter of 1996, to submit to the State Duma of the Federal Assembly of the Russian Federation a draft federal law on the approval of the list of fields covered by this Federal law. President of the Russian Federation Yeltsin Moscow, Kremlin 30 December 1995 N 225-FZ