RUSSIAN FEDERATION FEDERAL LAW On the restoration and protection of citizens ' savings Russian Federation adopted by the State Duma on February 24, 1995 Approved The Council of the Federation on 1 March 1995 This Federal Law sets out the obligations of the Russian Federation for the restoration and preservation of the value of the monetary savings of citizens of the Russian Federation. C t I am 1. The state guarantees the restoration and preservation of the value of cash savings created by citizens of the Russian Federation by placing money: for deposits in the Savings Bank of the Russian Federation (previously State labour savings offices of the USSR operating on the territory of the Russian Federation; the Russian Republican Bank of Sberbank of the USSR, until 20 June 1991; for deposits in the organization of state insurance OF THE PRESIDENT OF THE RUSSIAN FEDERATION operating in the territory of the Russian Soviet Federative Socialist Republic (RSFSR) on contractual (cumulative) types of personal insurance until 1 January 1992; in government securities (USSR and RSFSR), whose placement was produced in the territory of the RSFSR until 1 January 1992; (hereinafter referred to as the guaranteed savings of citizens). C I am 2. Guaranteed savings of citizens are the public domestic debt of the Russian Federation. C but I am 3. The State internal debt of the Russian Federation on guaranteed savings of citizens is guaranteed by State property in accordance with the Constitution of the Russian Federation and all the assets held by the Government. of the Russian Federation. C t I am 4. The value of the guaranteed savings of citizens is recognized as the purchasing power of the invested funds at the time of their investment. The purchasing power of the cash is calculated on the basis of the cost of a fixed set of basic consumer goods and services, including food, goods and services that provide normal physiological services the existence of a human being. The purchasing power of the USSR's currency in 1990 is considered constant and is determined by the purchasing power of the USSR's currency for guaranteed savings of citizens created before March 1, 1991. C but I am 5. The restoration and preservation of the value of the guaranteed savings of citizens is effected by transferring them to the debt obligations of the Russian Federation, which are government securities. C t I am 6. When the guaranteed savings of citizens are transferred to the Russian Federation's debt obligations, the value of these liabilities is equated with the original value of the money invested in the said savings, taking into account the terms of the contract Cash deposit for the entire deposit period. For guaranteed savings of citizens created after 1 March 1991, the nominal debt of the Russian Federation is determined by changing the purchasing power of the money after that date. C t I am 7. For the unit of par value of the Russian Federation's debt obligation, the debt value expressed in the currency of the Russian Federation is set. The debt value of the unit of the target debt of the Russian Federation (hereafter referred to as the debt value) is determined by the ratio of purchasing power of the currency of the Russian Federation at the current time and The purchasing power of the USSR's currency in 1990. C but I am 8. The Russian Federation's debt liability is expressed in the currency of the Russian Federation in the currency of the Russian Federation, regularly (at least once a month) fixed for the unit par value of the target. OF THE PRESIDENT OF THE RUSSIAN FEDERATION C t I am 9. The priority in servicing the Russian Federation's debt obligations is the objectives defined by the State social and economic development programmes of the Russian Federation. Priority service for the Russian Federation's debt targets is set for use in the following areas: social protection and urgent needs; economic stimulation of production. A portion of the funds provided for in the federal budget for these purposes is to be used for the stated purposes through the servicing of the Russian Federation's debt obligations under the procedure established by the Government. of the Russian Federation. C t I am 10. Russian Federation's debt obligations in the currency of the Russian Federation are made in accordance with the debt value at the time of their request and the terms of the treaty on specific types of debt obligations of the Russian Federation. THE RUSSIAN FEDERATION C t I am 11. The debt obligations of the Russian Federation can serve as a means of payment in all measures of sale (privatization) of state-owned enterprises, shares of state-owned enterprises and owned enterprises The state of shares in privatized enterprises. In carrying out these activities, the Russian Federation's special debt obligations are a legal tender obligation and equate the amount of the currency of the Russian Federation based on The value of the Russian Federation's debt and debt obligations at the time of their use as a means of payment. C t I am 12. Federal laws establish the procedure for the transfer of guaranteed savings of citizens to the Russian Federation's special debt obligations, their types, conditions and forms of service and the procedure for determining the debt value. C t I am 13. OF THE PRESIDENT OF THE RUSSIAN FEDERATION C and I am 14. Invite the President of the Russian Federation to bring his decrees into conformity with this Federal Act. The Government of the Russian Federation shall bring its normative legal acts into conformity with this Federal Law. C t I am 15. This law shall enter into force on the date of its official publication. Article 11 of this Federal Law is enacted from the date of amendment and additions to the RSFSR Act The privatization of state and municipal enterprises in the RSFSR ". Yeltsin Moscow, Kremlin 10 May 1995 N 73-FZ
