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On Introducing Changes And Additions Into The Law Of The Russian Federation "on Currency Regulation And Currency Control"

Original Language Title: О внесении изменений и дополнений в Закон Российской Федерации "О валютном регулировании и валютном контроле"

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Spspent force-Federal Law of 10.12.2003 N 173-FZ RUSSIAN FEDERATION FEDERAL LAW On Amendments and Additions to the Law of the Russian Federation on Foreign Exchange Control and Currency Control Adopted by the State Duma on 18 April 2001 Approved by the Federation Council on 16 May 2001 Article 1. Russian Federation Act of 9 October 1992 No. 3615 -I on currency regulation and currency control (Bulletin of Congress of People's Deputies of the Russian Federation and the Supreme Soviet of the Russian Federation, 1992, 2542; Legislative Assembly of the Russian Federation, 1999, No. 1; N 28, est. 3461) the following changes and additions: 1. In article 1: , paragraph 2, amend to read: " 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. "; paragraph 4, subparagraph (b), should read: b) securities denominated in foreign currency-payment vouchers (cheques, promissory notes and other payment documents), issue securities (including stocks, bonds), securities derivatives (including depositary receipts), stock options, and debt securities Obligations expressed in foreign currency; "; , paragraph 9, subparagraph 9, amend to read: " (g) Non-commercial transfers to the Russian Federation and from the Russian Federation, including: Wages, scholarships, pensions, alimony, State benefits, overpayments, and Compensation, as well as compensation for injury caused to employees as a result of accidents or occupational diseases in the performance of their work duties; workers abroad; payment for succession; payments related to the death of the deceased; payments of monetary compensation to victims of political repressions, members of their families and heirs; Payment for purchase and construction outside the territory of the Russian Federation Representatives of the MFA of the Russian Federation to the constituent entities of the Federation Diplomatic and other official representations of the State abroad; payments related to notarial and investigative actions, payments related to litigation and arbitration costs, payment of expenses to arbitration and administrative authorities, as well as the amount of the State duty, paid in connection with the work of the said actions and the handling of cases in court; the payment of funds on the basis of sentences, decisions and rulings of judicial, investigative and other law enforcement agencies; 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; for the training of nationals of one State in educational institutions of another State, treatment of the citizens of one State in the treatment and prevention establishments of another State; the payment of the authors ' fees; contributions to international public associations; touring artists; other currency transactions, set by the Government of the Russian Federation. "; to supplement paragraphs 12 and 13 as follows: " 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. 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 customs border of the Russian Federation by the exported goods. ". 2. Article 5, paragraph 2, should be supplemented with the following paragraphs: " Residents may hold accounts in foreign currency other than a freely convertible currency in banks outside the territory of the Russian Federation for settlement of contracts International construction contracted with subcontractors performing individual work (services), calculations relating to the procurement of goods required for the performance of specified contracts, and calculations with the secondment of nationals OF THE PRESIDENT OF THE RUSSIAN FEDERATION 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. For the purposes of this Law, foreign currency, which is not a freely convertible currency, is the foreign currency referred to in paragraph 3 of Article 1 of this Law, which does not exchange without restrictions on the currency of the other of a foreign State in the conduct of current foreign exchange transactions. Assignment of foreign currency to foreign currency other than a freely convertible currency, as well as the determination of the opening of the accounts in the second paragraph of this paragraph and the provision of information on these accounts are implemented by the Central Bank of the Russian Federation. ". 3. In article 6, paragraph 2: add a new paragraph to the second reading: "Without restrictions, the following currency transactions shall be carried out:"; after the new paragraph, second paragraph, to add the third to sixth paragraphs The following table of contents: " calculations for the export of goods referred to in sections XVI, XVII, XIX. of the foreign economic activity of the Russian Federation, provided that the period of return of foreign currency proceeds from the sale of these goods for export will not exceed three years from the date of actual crossing. OF THE PRESIDENT OF THE RUSSIAN FEDERATION over 90 days, provided that the return of foreign currency earnings for the construction and contract works would not exceed five years from the date of the contract; the calculation of insurance contributions and payments; and in accordance with the relevant provisions of the of the Agreement, provided that the period of validity of the said contract does not exceed five years from the date of its conclusion; Translate the physical person-resident of the foreign currency to the Russian Federation and from the Russian Federation to the amount not exceeding $75,000 carried out during a calendar year for the acquisition of securities denominated in a foreign currency by a resident individual, or for the purpose of the exercise by the resident of the He is entitled to 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 of the transfer by the place of account of the resident physical person, attaching bank statements to the account. "; second count seventh and after the words " (work, services, (a) "Supplement the words" with the exception of currency transactions specified in paragraphs 3, 4 and 5 of this paragraph, ". 4. Add Article 6-1 as follows: " Article 6-1. Issued a residence permit 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 on which the residence permit is issued by the resident, the foreign exchange authority shall issue a permit to the resident or give a motivated refusal to grant such permission. ". 5. Article 11 should read as follows: " Article 11. Exchange controls and currency controls 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 is engaged in cooperation with other foreign exchange controls within their competence and ensures the interaction of authorized banks as agents of foreign exchange control. ". 6. Article 14, paragraph 4, should read: " 4. The penalties provided for in this article are determined by the decision of the relevant organs of currency control, including the decision rendered on the basis of the representation of the agents of foreign exchange control, the physical persons in the courts, and c Legal persons in accordance with the procedure established by the Administrative Offences Code of the RSFSR. The Ordinance on the Application of Sanctions for Violations of Foreign Currency Law can be appealed against by the person against whom it is adjudicating. A complaint against the application of sanctions for violation of foreign exchange laws and regulation to eliminate the violation of foreign exchange laws may be filed within 10 days from the date of service of the said regulations and precepts. and should be considered by the competent authorities within 10 days from the date of its receipt. The appeal of the said order or order shall suspend them from the date on which the complaint is made. The amounts to be paid shall be paid not later than 30 days from the date of the entry into force of the order for the violation of foreign currency law, and in the case of an appeal against the said order-not later than 15 days from The day before this complaint was dismissed. In case of non-appeal of the sanction for violation of currency laws and failure to pay claimed amounts for violation of currency laws voluntarily within the prescribed time limits. shall be made without judicial procedure. ". Article 2. To instruct the Government of the Russian Federation within two months from the date of the entry into force of this Federal Act to bring its normative legal acts into conformity with A true federal law. To instruct the Central Bank of the Russian Federation within two months of the entry into force of this Federal Act to bring its regulations into conformity with this Federal Act. To charge the Central Bank of the Russian Federation within one month from the date of the entry into force of this Federal Act to establish an exhaustive list of foreign states and their currencies in which residents can open accounts in in accordance with article 1, paragraph 2, of this Federal Act. Article 3. The law enters into force 30 days after its official publication. President of the Russian Federation Vladimir Putin Moscow, Kremlin 31 May 2001 N 72-FZ