Originally from Russia and the Republics Legal Materials - Second Series
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The present Statute shall establish the procedure for the preparation and entry into force of official explanations of the Bank of Russia with regard to questions of the application of federal laws, other normative legal acts, and also normative acts of the Bank of Russia.
1. General Provisions
1.1. Official explanations of the Bank of Russia with regard to questions of the application of federal laws and other normative legal acts (except normative acts of the Bank of Russia) shall be acts of interpretation of law and may be applied by the Bank of Russia only if this is expressly provided for by federal laws for instances of interpretation of federal laws and of other normative legal acts for instances of interpretation of the said normative legal acts.
1.2. Official explanations of the Bank of Russia with regard to questions of the application of normative acts of the Bank of Russia shall be acts of interpretation of normative acts of the Bank of Russia and shall be adopted in instances of the necessity to fill a gap of legal regulation with regard to the subject-matter of a normative act of the Bank of Russia.
1.3. Official explanations of the Bank of Russia may not establish norms of law, may not relate to normative acts of the Bank of Russia, and shall not require registration in the Ministry of Justice of the Russian Federation in the procedure provided by Article 6 of the Federal Law “On the Central Bank of the Russian Federation (Bank of Russia)” and Statute of the Bank of Russia “On the Procedure for the Preparation and Entry into Force of Normative Acts of the Bank of Russia” of 15 September 19997, No. 519, for normative acts of the Bank of Russia.
William E. Butler, Emeritus Professor of Comparative Law in the University of London, attached to University College London, is the John Edward Fowler Distinguished Professor of Law at the Dickinson School of Law, Pennsylvania State University, and Founder and Director of The Vinogradoff Institute.
An authority on the legal systems of Russia and former Soviet nations, he is the author, co-author, editor or translator of more than 3,500 books and articles on Russian, Soviet, Kazakhstan, Ukrainian, Uzbekistan, and other Commonwealth of Independent States legal systems. He has acted as Counsel to the EBRD, European Union, World Bank, United Nations, and Department for International Development of the United Kingdom on individual law reform projects.
The recipient of numerous honors for his service to Russian and international law, Professor Butler is Academician of the National Academy of Sciences of Ukraine and the Russian Academy of Natural Sciences, Associate of the International Academy of Comparative Law, and Member of the Russian Academy of Legal Sciences. He has been elected to his fourth term as a member of the Russian International Court of Commercial Arbitration. In 2003 Professor Butler was awarded the G. I. Tunkin Medal by the Russian International Law Association.