Key Legislative Reforms - new property
and organizational forms cont.
¥Law on Commodity Exchanges and Exchange-Brokered Trade, adopted by Russian Parliament Feb 20, 1992
–Placed these new structures on a legal
foundation
–Guaranteed considerable freedom in areas
of self-management, rules of exchange-brokered
trade and free prices.
–Banned exchanges from any type of
economic activity not specific to them
–Banned from regular trade and middleman
trade activity
–Capital investment only allowed in
organization and development of exchange-brokered
trade and market infrastructure
–Stock purchases and subsidiaries
forbidden
–Banks forbidden from participating in
commodity exchange activities