May 17, 2004

Decision of the Council of Ministers of the Republic of Belarus of May 6, 2004 No. 519 On Some Issues of Activity of Noncommercial Organizations to Develop and Support Small Business Entities establish that such noncommercial organizations created by Oblast and Minsk city executive committees, other legal and natural persons can assist in development and support small business entities in accordance with their founding documents including the support by giving guarantees for credits and loans. The Decision also approves the Regulations on Procedure of Giving by Noncommercial Organizations Guarantees on Credits and Loans Obtained by Small Business Entities.

Decision of the Council of Ministers of the Republic of Belarus of May 10, 2004 No. 539 brings in alterations to the Decision of the Council of Ministers of the Republic of Belarus of June 16, 200 No. 898. The Decision approves new amounts of fees for obligatory insurance of civil liability of owners of vehicles going to the Ukraine, Latvia, Estonia and Moldova and also to the countries newly accepted to the system of Green Card. According to the approved attachment, in particular, the amount of fees for cars with up to 8 passengers seats for a month is 10 euro.

Decision of the National Bank of the Republic of Belarus of April 30, 2004 No. 72 approves the Rules of Conducting Currency Transactions and introduces alterations to the Rules for Opening Accounts for Clients by Banks in the Republic of Belarus. New Rules of Conducting Currency Transactions will enter into force on July 1, 2004.

Decision of the National Bank of the Republic of Belarus of April 30, 2004 No. 70 On Procedure for Notification by Banks and Non-Bank Credit and Financial Organizations of the Currency Control Bodies on Currency Transactions Conducted with Violations of Legislation establishes that banks notify the Committee of State Control of the Republic of Belarus or its territorial bodies about the currency transactions conducted with violation of legislation: at receiving by a client of money under the transaction held with the violation the bank shall notify the Committee of State Control after the money came to the account. The notification is carried out by sending a report form on the currency transaction.