ЗАКОН РОССИЙСКОЙ ФЕДЕРАЦИИ ОБ ИНОСТРАННЫХ ИНВЕСТИЦИЯХ (НА АНГЛИЙСКОМ ЯЗЫКЕ)
Unofficial translation
Prepared by
the American Chamber of Commerce in Russia
THE RUSSIAN FEDERATION
FEDERAL LAW
On Foreign Investment in the Russian Federation
Passed by the State Duma on June 25, 1999 Approved by the Federation Council on July 2, 1999
This Federal Law determines the basic guarantees of foreign investors' rights to the investments, and to the income and profits obtained from such investments, and the terms of business activities of foreign investors in the Russian Federation.
This Federal law is aimed at attracting foreign material and financial resources, advanced engineering and technologies, managerial experience and efficient application thereof in the economy of the Russian Federation, and ensuring that the legal regime of foreign investments is in compliance with the norms of international law and the international practice of investment co-operation.
Article 1. Relations Governed by this Federal Law and Application of this Law
1. This Federal Law shall govern relations arising in connection with state guarantees granted by the Government of the Russian Federation to foreign investors in connection with their investments in the Russian Federation.
2. This Federal Law does not govern relations connected with investments of foreign capital in banks and other credit organizations and also in insurance companies, which shall be governed by the laws of Russian Federation on banks and banking activity and the laws of Russian Federation on insurance, respectively.
Also, this Federal Law does not govern relations connected with investments of foreign capital in non-commercial organizations for the specific public purposes of education, charity, science or religion, which shall be governed by the laws of the Russian Federation on non-commercial organizations.
Article 2. Basic Terminology Used in this Federal Law
For the purposes of this Federal Law, the following terms shall have the following meanings:
"foreign investor" shall mean: foreign legal entities, the civil legal capacity of which shall be determined by the laws of the jurisdiction of their incorporation and which have the right to invest on the territory of the Russian Federation under the laws of the jurisdiction of incorporation; a foreign organization which is not a legal entity, the civil legal capacity of which shall be determined by the laws of the jurisdiction of its organization and which has the right to invest on the territory of the Russian Federation under the laws of the jurisdiction of its organization, foreign citizens, the civil legal capacity of whom shall be determined by the laws of the jurisdiction of their citizenship and who have the right to invest on the territory of the Russian Federation under the laws of the jurisdiction of their citizenship;
individuals having no citizenship who permanently reside outside of the Russian Federation, the civil legal capacity of whom shall be determined by the laws of the jurisdiction of their permanent residence and who have the right to invest on the territory of the Russian Federation under the laws of the jurisdiction of their permanent residence; international organizations, which have the right to invest on the territory of the Russian Federation under international treaties to which the Russian Federation is a party; and foreign governments under procedures provided by federal laws.
"Foreign investment" shall mean the investment of foreign capital in objects of business activity on the territory of the Russian Federation in the form of objects of civil rights belonging to a foreign investor, unless such objects are excluded from the turnover or are restricted in the Russian Federation pursuant to federal laws, including money, securities (denominated in foreign currency or in the currency of the Russian Federation), other property, property rights, exclusive rights to the results of intellectual activities (intellectual property) which can be evaluated in a monetary form and services and information.
"Direct foreign investment" shall mean the purchase by a foreign investor of not less than a 10 percent interest in (contribution to) the charter (joint stock) capital of a commercial organization established or undergoing formation in the Russian Federation in accordance with the civil laws of the Russian Federation in the form of a partnership or a company; the investment of capital in fixed production assets of a branch of a foreign legal entity to be established in the Russian Federation; the implementation on the territory of the Russian Federation by a foreign investor of financial leasing (leasing) as a lessor of equipment listed in parts XVI and XVII of the Commodity Classification of the Foreign-Trade Activity of the Commonwealth of Independent States (TEN VED CIS) involving a customs value of 1 million rubles or more.
"Investment project" shall mean the economic feasibility study regarding the volume and terms of a direct foreign investment, including a business plan prepared in accordance with the standards set forth by the laws of the Russian Federation.
"Priority investment project" shall mean an investment project with a total amount of foreign investment of at least 1 billion rubles (or not less than the equivalent amount in the currency of a foreign investor at the rate established by the Central Bank of the Russian Federation as of the effective date of this Federal Law), or the foreign investors' interest (contribution to) in the charter (joint stock) capital of a company with foreign investment is at least 100 million rubles (or not less than the equivalent amount in the currency of a foreign investor at the rate established by the Central Bank of the Russian Federation as of the effective date of this Federal Law), included in the list adopted by the Russian Government.
"Recoupment period of an investment project" shall mean the period of time from the date of the beginning of the financing of an investment project with direct foreign investment by a commercial organization with foreign investment, a branch of a foreign legal entity or a lessor under a financial lease agreement until the date when the difference between retained net income, with depreciation taken into account, and the amount of investment expenditures, becomes positive.
"Reinvestment" shall mean the direct investment in the objects of business activity on the territory of the Russian Federation of income or profit received by a foreign investor or a commercial organization with foreign investments from the use of foreign investment.
"Cumulative tax burden" shall mean the total amount of money to be paid as import customs fees (excluding customs fees effected by implementation of actions directed towards protecting the economic interests of the Russian Federation in accordance with legislation of the Russian Federation when conducting foreign trade with commodities), and federal taxes (excluding excise tax and value added tax on goods produced on the territory of the Russian Federation), and other obligatory payments to the state off-budget funds (excluding obligatory payments to the Pension Fund) by a foreign investor or a company with foreign investment which implements an investment project using direct foreign investment as of the date of the beginning of the financing of the investment project.
Article 3. Laws Regulating Foreign Investment in the Russian Federation
1. The legal regulation of foreign investments on the territory of the Russian Federation shall be governed by this Federal Law, other federal laws, normative acts of the Russian Federation and international treaties of the Russian Federation.
2. Subjects of the Russian Federation shall have the right to adopt laws and other normative acts governing foreign investments with regard to matters subject to their jurisdiction and the joint jurisdiction of the Russian Federation and its subjects pursuant to this Federal Law and other federal laws.
Article 4. The Legal Regime of the Activities of Foreign Investors and Commercial
Organizations with Foreign Investment
1. The legal regime governing the investment activities of a foreign investor and use of profits obtained from such investments may not be less favorable than the legal regime governing the investment activities and use of profits obtained from such investments established for Russian investors, with the exceptions established by federal laws.
2. Restrictive exemptions for foreign investors may be established by federal laws only to the extent required for the purposes of protecting the constitutional system, public morals and health, the rights and legal interests of individuals and legal entities and the defense and security of the State.
Incentive exemptions in the form of privileges for foreign investors may be established for the benefit of social and economic development of the Russian Federation. The types of such privileges and the procedure of granting thereof shall be established by the laws of the Russian Federation.
3. The branch of a foreign legal entity established in the Russian Federation shall perform certain or all functions, including the functions of a representative office, on behalf of the foreign legal entity which is the founder of such branch (the "head office"), provided that the foreign legal entity is a for-profit entity and is directly liable for its obligations in connection with doing business in the Russian Federation.
4.A subsidiary or a dependent company of a commercial entity with foreign investments shall not be entitled to the legal protection, guarantees and privileges provided by this Federal Law while conducting business activity on the territory of the Russian Federation.
5. A foreign investor or a commercial organization established in the Russian Federation in which a foreign investor (investors) owns (own) at least 10 percent of the charter (joint stock) capital of such organization while reinvesting shall be entitled to the full legal protection, guarantees and privileges provided by this Federal Law.
6. A Russian commercial organization becomes a commercial organization with foreign investments from the date when a foreign investor enters its membership. From this date the commercial organization and the foreign investor shall be entitled to the legal protection, guarantees and privileges provided by this Federal Law.
A commercial organization loses the status of a commercial organization with foreign investments from the date of the foreign investor's retirement from its membership (in case of retirement of all participants of the commercial organization if there are several foreign investors in its membership). From this date this commercial organization and the foreign investor loses the legal protection, guarantees and privileges provided by this Federal Law.
Article 5. Guaranteed Legal Protection of the Activities of Foreign Investors in
the Russian Federation
1. A foreign investor shall have full and unconditional protection of its rights and interests in the Russian Federation which are provided by this Federal Law, other federal laws and normative acts of the Russian Federation and by international treaties of the Russian Federation.
2. Pursuant to the civil laws of the Russian Federation a foreign investor shall have the right to receive compensation for damages inflicted on it as a result of illegal actions (failure to act) of any governmental or local authorities or any officer of such authorities.
Article 6. Guarantees of Availability to Foreign Investors of Various Forms of
Investment in the Russian Federation
A foreign investor may make investments in the Russian Federation in any form not prohibited by the laws of the Russian Federation.
The valuation of capital invested in the charter (joint-stock) capital of a commercial organization with foreign investments shall be made in accordance with the laws of the Russian Federation.
The valuation of capital investments shall be made in the currency of the Russian Federation.
Article 7. Guarantees of Recognition of Transfer of Rights and Obligations
of a Foreign Investor to any Other Person
1. Pursuant to a contract, a foreign investor has the right, and pursuant to a law or a court decision the foreign investor is obliged, to transfer its rights (claims) and obligations (to convert the debts) to any other person in accordance with the civil legislation of the Russian Federation.
2. In the event a foreign government or an authorized governmental agency makes a payment for the benefit of a foreign investor under a guarantee (contract of insurance) granted to such foreign investor with regard to the investments made by it in the Russian Federation, and such rights (claims) of the foreign investor for such investments should be transferred to such foreign government or such authorized governmental agency, such transfer of rights (assignment) shall be deemed to be legal in the Russian Federation.
Article 8. Guarantees of Compensation in the Event of Nationalization and
Requisition of the Property of a Foreign Investor or a Commercial
Organization with Foreign Investment
1. The property of a foreign investor or an organization with foreign investments shall not be subject to forced seizure, including nationalization and requisition, except in the instances and on the grounds established by the federal laws or treaties of the Russian Federation.
2. In the event of a requisition, a foreign investor or a commercial organization with foreign investments shall be compensated for the value of the seized property. After the circumstances in connection with which a requisition occurred cease to exist, a foreign investor or a commercial organization with foreign investments shall have the right to demand the return of the remaining property through the court system, but in so doing that, the investor must then return the received compensation amount, taking into account the property's depreciation.
When the property of a foreign investor or a commercial organization with foreign investments is nationalized, such investor or the organization shall be compensated for the value of the property and other damages. Disputes regarding such damages shall be settled in accordance with Article 10 hereof.
Article 9. Guarantees to Foreign Investors and Companies with Foreign Investment Against Unfavorable Changes in the Legislation of the Russian Federation
1. If new federal laws or other normative acts of the Russian Federation come into force which change the rate of import custom duties (excluding customs fees effected by implementation of actions directed towards protecting the economic interests of the Russian Federation in accordance with legislation of the Russian Federation when conducting foreign trade with commodities) and federal taxes (excluding excise tax and value added tax on goods produced on the territory of the Russian Federation) and obligatory payments to the state off-budget funds (excluding obligatory payments to the Pension Fund), or if existing federal laws and other normative acts are amended, the effect of which is to increase the cumulative tax burden on the activity aimed at implementation of priority investment projects conducted by a foreign investor or a company with foreign investment, or to establish a regime of prohibitions and restrictions regarding foreign investments in the Russian Federation, in comparison with the cumulative tax burden or the regime existing pursuant to federal laws and other normative acts of the Russian Federation on the date of the beginning of the funding of a priority investment project using foreign investment, then these newly adopted federal laws and other normative acts of Russian Federation or amendments shall not be applied during the period of time established by Section 2 of this Article to a foreign investor implementing, or a company with foreign investment implementing, priority investment projects with foreign investment on the condition that commodities are imported to the customs territory of the Russian Federation by a foreign investor or a company with foreign investment for the purpose of implementing the priority investment projects.
The provisions of the first paragraph of this Section 1 are applied to a company with foreign investment if the foreign investors' interest, interests (contribution) constitute more than 25% of the charter (joint stock) capital of such company, and to a company with foreign investment, implementing a priority investment project regardless of the foreign investors' interest, interests (contribution) to the charter (joint stock) capital of such company.
2. The stability of the terms and regime established in Section 1 of this Article for a foreign investor implementing an investment project is guaranteed during the recoupment period, but for no more than 7 years from the date of the beginning of funding of the investment project by foreign investment. The differentiation of the recoupment periods for different types of investment projects shall be determined in accordance with rules established by the Government of the Russian Federation.
3. In exceptional cases, in connection with the implementation by a foreign investor or a company with foreign investment of a priority investment project which involves manufacturing, transportation or creation of any other infrastructure and the amount of the foreign investment is at least 1 billion rubles (or not less than the equivalent amount in the currency of a foreign investor at the rate established by the Central Bank of the Russian Federation as of the effective date of this Federal Law), and the recoupment period of the said project is longer than 7 years, the Government of Russian Federation shall take a decision in favor of this investor or a company with foreign investment on the prolongation of the terms and regimes provided by Section 1 of the Article.
4. The provisions of Section 1 of this Article shall not be applicable to changes and amendments made in the laws of the Russian Federation or to newly adopted federal laws and other normative acts of the Russian Federation with respect to the protection of the constitutional system, public morals and health, the rights and legal interests of other persons and the defense and the security of the State.
5. The Government of the Russian Federation shall:
establish criteria for evaluating those changes that are unfavorable for a foreign investor or a company with foreign investment in connection with changes in import customs duties, federal taxes and obligatory payments to the state off-budget funds or of the regime of prohibitions and restrictions applicable to the implementation of foreign investment on the territory of the Russia Federation;
adopt the manner of registration of the priority investment projects by the federal executive agency provided by Article 24 herein.
Execute control over the fulfillment by a foreign investor and a company with foreign investment of their obligations subject to realization of the priority investment projects within terms provided by Sections 2 and 3 of the present Article.
In the event a foreign investor or a company with foreign investment is in breach of obligations provided by the first paragraph of this Section, such foreign investor or company with foreign investment shall be deprived of the remissions granted to them in accordance with this Article 9. The monetary amounts which were not paid because of the use of those remissions are to be refunded in the manner provided by the legislation of the Russian Federation.
Article 10. Guarantee of Proper Settlement of Disputes Related to Investment and
Business Activities of Foreign Investors in the Russian Federation
Any dispute involving a foreign investor and related to the investment and business activities of such investor in the Russian Federation shall be settled in compliance with the international treaties of the Russian Federation and federal laws in a court, an arbitration court or international arbitration (arbitration tribunal).
Article 11. Guaranteed Use of Profits and Other Legally Obtained Moneys in the
Russian Federation and Transfer Thereof Outside of the Russian
Federation
A foreign investor, after paying all taxes and charges pursuant to the laws of the Russian Federation, shall have right to use its income and profits for reinvestment in the Russian Federation in compliance with the provisions of Section 2 of Article 4 hereof, or to apply it for any other purposes which are not in conflict with the laws of the Russian Federation, and to transfer outside of the Russian Federation without limitation such income and profits and other foreign currency legally received in connection with its prior investments, including:
income from investments in the form of profits, dividends, interest or any other income;
moneys received under contractual or any other obligations of any commercial organization with foreign investments or any foreign legal entity having its branch in the Russian Federation,
moneys received by a foreign investor in connection with the liquidation of a commercial organization with foreign investments or a branch of a foreign legal entity, or the disposal of investment assets, property rights and exclusive intellectual property rights;
compensation provided for in Article 8 hereof.
Article 12. Guaranteed Right of a Foreign Investor to Export from Russia Property
and Information in Documentary Form and as Computer Data which were
Imported Originally into Russia as Foreign Investment
A foreign investor who originally imported into Russia property or information in documentary form or as computer data shall have right to export from Russia this property and information without any limitations (without quotas, licensing, and other means of non-tariff regulation).
Article 13. Guaranteed Right of a Foreign Investor to Purchase Securities
A foreign investor shall have the right to purchase shares of stock and other securities of Russian commercial organizations and government securities pursuant to the laws of Russian Federation on securities.
Article 14. Guaranteed Participation of Foreign Investors in Privatization
A foreign investor may participate in the privatization of objects owned by the State and municipal authorities through the acquisition of ownership rights for such State or municipal property or an interest, interests in (a contribution to) the charter (joint stock) capital of the organization undergoing privatization on the conditions and in the order which is established by the laws of the Russian Federation on privatization of State and municipal property.
Article 15. Guarantee of Granting to Foreign Investors of Rights to Land Plots, Other
Natural Resources, Buildings, Construction and Other Real Assets
A foreign investor may acquire the rights to land plots, other natural resources, buildings, construction and other real assets pursuant to the laws of the Russian Federation and the laws of the subjects of the Russian Federation.
A commercial organization with foreign investment may acquire the right to lease a land plot at a tender (auction, contest), unless laws of the Russian Federation provide otherwise.
Article 16. Customs Benefits of Foreign Investors
Customs benefits are granted to foreign investors and commercial organizations with foreign investments which conduct a priority investment project in accordance with the customs legislation of the Russian Federation and the legislation of the Russian Federation on taxes and duties.
Article 17. Benefits and Guarantees Granted to Foreign Investors by Subjects of the
Russian Federation and Local Authorities
Subjects of the Russian Federation and local government bodies may, within their authority, grant benefits and guarantees to a foreign investor, and finance and otherwise support the investment project being implemented by a foreign investor, to the extent of the budget of such subjects of the Russian Federation, local budgets and out-of-budget funds.
Article 18. Anti-Monopoly Laws of the Russian Federation and Fair Competition
Compliance by Foreign Investors
Foreign investors shall comply with the anti-monopoly laws of the Russian Federation and shall not engage in unfair competition and restrictive business practices including, but not limited to, incorporation of a commercial organization with foreign investments or a branch of a foreign legal entity on the territory of the Russian Federation for the purposes of manufacturing a commodity in high demand and subsequently liquidating that organization or branch for the purpose of promoting a similar commodity manufactured abroad, as well as promoting a commodity by means of entering into a bad-faith agreement on prices or allocation of markets or by participating in a tender (auction or contest).
Article 19. Property Insurance Obtained by a Commercial Organization with Foreign
Investment or a Head Office of a Branch of a Foreign Legal Entity
Property insurance against loss (destruction), shortage or damage caused to the property, civil liability insurance and business risk insurance may be obtained by a commercial organization with foreign investments at its own discretion and by a branch of a foreign legal entity at the discretion of the head office, unless the laws of the Russian Federation provide otherwise.
Article 20. Establishment and Liquidation of a Commercial Organization with Foreign
Investment
1. A commercial organization with foreign investment shall be established and liquidated pursuant to the Civil Code of the Russian Federation and other federal laws with the exceptions which may be established by federal laws in accordance with Paragraph 2 of Article 4 hereof.
2. A legal entity which is a commercial organization with foreign investments must be registered with the Ministry of Justice within one month from the day the following documents are submitted:
the charter of the commercial organization with foreign investments and the foundation agreement (in the event when it is required by civil laws of the Russian Federation);
a certificate of good standing from the jurisdiction of incorporation of the foreign investor or its equivalent confirming the legal status of the foreign investor;
a letter from the foreign investor's bank confirming its solvency; and
confirmation of payment of the registration fee.
A commercial organization with foreign investments may be denied registration in the interests of protecting the constitutional system, public morals and health, the rights and the legal interests of other persons and the defense and the security of the State.
A refusal to register a commercial organization with foreign investments may be appealed by a foreign investor in a court proceeding.
Article 21. Establishment and Liquidation of a Branch of a Foreign Legal Entity
A branch of a foreign legal entity shall be established for the purposes of performing in the Russian Federation activities similar to those performed by the head office outside of the Russian Federation, and shall be liquidated on the basis of a resolution of the foreign legal entity.
State supervision over the establishment, activity and liquidation of a branch is conducted by the means of its accreditation in the manner established by the Government of the Russian Federation
The federal executive body specified in Article 24 hereof implements accreditation of a branch of a foreign legal entity.
The branch of a foreign legal entity may be denied registration in the interests of protecting the constitutional system, public morals and health, the rights and the legal interests of other persons and the defense and the security of the State.
Article 22. Requirements to the By-Laws of a Branch of a Foreign Legal Entity
1. The foreign legal entity shall file with the federal executive authority specified in Article 24 hereof the by-laws of a branch of a foreign legal entity and other documents, the list and requirements to the contents of which shall be approved by the Government of the Russian Federation subject to Sections 2 and 3 of this Article.
2. The by-laws of a branch of a foreign legal entity shall contain the name of the branch and its foreign legal entity, the legal form of the foreign legal entity, the location of the branch in the Russian Federation and the legal address of the foreign legal entity, the objectives and types of business of the branch, the composition, scope and term of investments in the fixed assets of the branch, and the order of management of the branch. The by-laws of a branch of a foreign legal entity may include other information reflecting the specific business of a branch of a foreign legal entity in the Russian Federation which shall not conflict with the laws of the Russian Federation.
3. Investments in the fixed production assets of a branch of a foreign legal entity shall be evaluated by the foreign legal entity on the basis of domestic or world market prices. Investments shall be evaluated in the lawful currency of the Russian Federation. The value of the investments in fixed assets of a branch of a foreign legal entity shall be included in the by-laws of such branch.
4. A branch of a foreign legal entity shall have right to conduct entrepreneurial activity on the territory of the Russian Federation from the date of its accreditation.
A branch of a foreign legal entity shall discontinue entrepreneurial activity on the territory of the Russian Federation when its accreditation is withdrawn.
Article 23. Governmental Policy in the Sphere of Foreign Investment
Pursuant to the Federal Constitutional Law "On the Government of the Russian Federation", the Government of the Russian Federation shall develop and implement the governmental policy with regard to international investment co-operation.
The Government of the Russian Federation shall:
determine the expediency of prohibitions and restrictions with regard to foreign investments in the Russian Federation and draft laws on the lists of such prohibitions and restrictions;
determine the measures for control of the activities of foreign investors in the Russian Federation;
make the lists of priority investment projects referred to in Article 2 hereof;
develop federal programs aimed at raising foreign investment and ensure the implementation of such programs;
attract investment loans from international financial institutions and foreign governments for the purposes of the Development Budget of the Russian Federation and the federal investment projects;
co-ordinate with the subjects of the Russian Federation the matters related to international investment co-operation;
supervise the preparation and execution of investment agreements with foreign investors for large-scale investment projects;
supervise the preparation and execution of international treaties of the Russian Federation with regard to the encouragement and mutual protection of investments.
Article 24. Co-ordination of the Regulatory Activities of the Federal Executive
Authorities and the Executive Authorities of the Divisions of the Russian
Federation with Regard to Foreign Investments
The Government of the Russian Federation shall appoint a federal executive agency as responsible for co-ordination of the direct foreign investments attracting in the economy of the Russian Federation.
Article 25. Invalidation of Previous Laws of the Russian Federation and Certain
Provisions Thereof in Connection with the Adoption of this Federal Law
In connection with the adoption of this Federal Law,
the Law of the R.S.F.S.R. "On Foreign Investments in the R.S.F.S.R." (The News of the Congress of People's Deputies of the R.S.F.S.R. and the Supreme Soviet of the R.S.F.S.R., 1991, #29, Page 1008);
the Decree of the Supreme Soviet of the R.S.F.S.R. "On Enacting the Law of the R.S.F.S.R. "On Foreign Investments in the R.S.F.S.R." (The News of the Congress of People's Deputies of the R.S.F.S.R. and the Supreme Soviet of the R.S.F.S.R., 1991, #29, Page 1009);
Article 6 of the Federal Law "On Amendments and Supplements to the Laws of the Russian Federation in Connection with the Adoption of the Laws of the Russian Federation "On Standardization", "On Ensuring Unified Measurements", "On Certification of Products and Services" (The Laws of the Russian Federation, 1995, #26, Page 2397);
Section 4, Article 1 of the Federal Law "On Amendments and Supplements to the Laws and Other Legal Acts of the Russian Federation in Connection with the Adoption of the Federal Constitutional Law "On Arbitration Courts in the Russian Federation" and the Code of Arbitration Procedure of the Russian Federation" (The Laws of the Russian Federation, 1997, #47, Page 5341)
shall be deemed invalid.
Article 26. Bringing the Legislation of the Russian Federation into Conformity with
this Federal Law
1. To propose to the President of the Russian Federation and the Government of the Russian Federation to bring their normative acts into conformity with this Federal Law.
2. The Government of the Russian Federation shall file with the State Duma of the Federal Assembly of the Russian Federation in a manner established by legislation proposals on amendments to the legislation of the Russian Federation resulting from the present Federal Law.
Article 27. Bringing the By-Laws of Branches of Foreign Legal Entities Registered in
the Russian Federation in Conformity with this Federal Law
Foreign legal entities, the branches of which were registered in the Russian Federation before the effective date hereof shall:
bring the by-laws of their branches into compliance with the requirements hereof within 6 months following the effective date hereof;
effect accreditation of their branches within one year following the effective date hereof.
Article 28. Effective Date of this Federal Law
This Federal Law shall take effect as of the date of its official publication.
President
of the Russian Federation
B.Yeltsin
Moscow, Kremlin
July 9, 1999
N 160-FZ
