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October 2009

Recent legal & business developments in Belarus, October 2009

1. Changes to the procedure of forming and applying prices and tariffs set forth by the Regulation of the Ministry of Economy of the Republic of Belarus No. 141 dated 19th August 2009 finally came into force. Retail prices for the goods shall be formed by way of summing selling (purchasing) prices and additions to prices (margins) which shall be determined with regard to market conditions. This shall not cover the goods specified on the list of socially important products. The state preserves price regulation over 50 commodity items meat, milk, oil, bread and medical goods being among them. Regulation No. 141 also stipulates for certain relaxation of restrictions for importers. They are allowed to form prices with regard to market conditions for all the goods that are imported for subsequent wholesale and retail trade. This does not cover the goods indicated in the “list of 50”, as well as the goods that are sold to legal entities and private entrepreneurs for own production and (or) consumption and for being developed under tilling-based conditions. In this case trade margins applied by importers onto the sum of contractual prices and other expenses (insurance, transport expenses, customs duties, credit interests and etc.).

2. In accordance with the Regulation of the Council of Ministers of the Republic of Belarus No. 1259 that came into force on 1st October 2009 radio frequencies for broadband access to Internet In Belarus can be received via tender procedure. The decision on organizing such a tender can be made by the State Commission on radio frequencies under the Security Council of Belarus.

3. The President of the Republic of Belarus on 13th October 2009 signed Edict No. 499 “On Certain Measures on Improving Antimonopoly Regulations and Developing Competition”. The list of actions subject to be taken by the antimonopoly authority for suppression of activities undertaken by associations of legal entities and state authorities that can result in restriction of competition has been broadened. Antimonopoly authorities have also been granted right to enter into agreements with legal entities possessing dominant position on commodity markets setting conditions for their competition behavior, frames for changing prices and tariffs. Upon concluding such an agreement the company shall be excluded from the list of persons possessing dominant position on commodity market. Antimonopoly authorities also received the right to apply to court with statements of claim asking for nullification of contracts concluded with a breach of legislation causing damage to rights and legal interests to other legal entities and natural persons and resulting in restriction of competition.The Edict comes into force in January 2010.

4. The Regulation of the National Bank Management introducing changes and altering the Rules of conducting currency operations in part of using foreign currency, securities and payment documents in foreign currency within payments between residents as well as with natural persons was published on 7th October and shall come into force in a month. The Regulation defines cases when it is not allowed to use foreign currency, securities and payment documents in foreign currency between residents, grants banks the right to accomplish currency operations between each other. The set of persons that are allowed to use foreign currency and possess proprietary interests or contractual rights when transferring property of a liquidated legal entity has been narrowed to founders, members – natural persons – nonresidents.

5. The Edict of the President of the Republic of Belarus No. 477 “On certain Issues of the Activity of Private Entrepreneurs and Introducing Changes to the Edict of the President of the Republic of Belarus dated 15th April 2009 No. 194” setting simplified mode of exporting goods of domestic manufacture for being sold abroad for private entrepreneurs has come into force on 10th October 2009. The mode shall be valid through 1st July 2010.