The Government will report to the State Duma on the anti-crisis measures adopted | Practical Law

The Government will report to the State Duma on the anti-crisis measures adopted | Practical Law

The Government will report to the State Duma on the anti-crisis measures adopted

The Government will report to the State Duma on the anti-crisis measures adopted

Practical Law UK Legal Update 9-386-3741 (Approx. 2 pages)

The Government will report to the State Duma on the anti-crisis measures adopted

by White & Case LLP
Published on 08 Jul 2009Russian Federation

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Government to submit to the State Duma and the Federation Council quarterly reports on the implementation of measures undertaken in support of the financial market, banking system, labour market, economic sectors and social security.
On 3 June 2009 the President signed Federal Law No. 102-FZ on Government and Central Bank reporting on anti-crisis measures adopted. The Law entered into force on 9 June 2009 and will be in effect until the last report for 2009 is considered by the State Duma.
Under the Law, the Government must submit to the State Duma and the Federation Council quarterly reports on the implementation of measures undertaken in support of the financial market, banking system, labour market, economic sectors and social security. This report must contain information on the volumes and addressees of the state support offered and cover the anti-crisis activities of the Government, Vnesheconombank (VEB), the Deposit Insurance Agency and the Agency for Housing Mortgage Lending.
In addition, the Central Bank must submit to the State Duma quarterly information on its anti-crisis activities.
The first report and information (for the last quarter of 2008 and the first half of 2009) must be submitted before end of July 2009.