LAW RSFSR

of October 31, 1990

About providing economic basis of sovereignty of RSFSR

For the purpose of protection of economic basis of sovereignty of RSFSR, stabilization and development of the national economy of RSFSR, being guided by the Declaration on the state sovereignty of RSFSR and recognizing the right of the republics which are part of USSR to exclusive ownership, use and the order of the national wealth, the Supreme Council of RSFSR decides:

Article 1. The earth, its subsoil (inventories of diamonds, gold, platinum, precious and semiprecious stones, silver, oil, coal, gas, uranium, rare-earth non-ferrous and ferrous metals and other minerals), airspace, waters, the woods, plant and animal life, other natural and raw material resources located in the territory of RSFSR, resources of the continental shelf and the sea economic zone RSFSR, and also which are formed in the rivers of RSFSR inventories of anadromous species of fish outside sea economic zone art and cultural values are national wealth of the people of RSFSR.

The procedure and conditions of ownership, use and the order of the specified objects are regulated by the legislation of RSFSR and the republics which are part of RSFSR.

The objects of state-owned property located in the territory of RSFSR, including property of the state companies, organizations, organizations of allied subordination, their fixed business and non-productive assets or other all-union funds, the property which is in management of all-union bodies are property of RSFSR.

The state-owned property (parts 1 and 3 of this Article) can be transferred to the control USSR for accomplishment of the functions which are voluntarily delegated to it by RSFSR.

Article 2. The gold stock, diamond and currency funds of the USSR are property of federal republics.

RSFSR recognizes the right to the shares in diamond, currency funds and gold stock of the USSR belonging to them behind other federal republics. The specific size of shares is established on the basis of the agreement with all federal republics.

The procedure for ownership, use and order of the share in the specified funds is established by the Russian Federation in coordination with the republics and regions which are part of RSFSR.

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