accordance with the general principles of the Russian Civil Code, the limitation period being set at ten years (section 2). The original wording of section 3 provided:
"The Government of the Russian Federation shall draft, in 1995 - 1997, the State Programme for settlement of the internal debt of the Russian Federation described in section 1, based on the principle of full compensation. The Programme shall provide for redemption terms... convenient for citizens, including, according to their choice: provision of goods designated in... the State bonds issued to agricultural suppliers...; redemption of State commodity bonds at consumer prices prevailing at the time of the redemption...; conversion of the debt into State securities..."
31. On 16 January 1996 the Government adopted Resolution No. 33, by which it annulled Regulation No. 344 and instructed the Ministry of Finance to redeem the State commodity bonds within the amounts allocated for that purpose in the federal budget.
32. On 2 June 2000, section 3 of the Commodity Bonds Act was amended to provide that the procedure for implementation of the State's obligations to holders of the Urozhay-90 bonds would be determined in a special federal law.
33. On 27 December 2000 the Government adopted the State Programme for settlement of the internal debt of the Russian Federation. Paragraph 14 of the Programme provided that the procedure for payments in respect of the Urozhay-90 bonds would be determined in a special federal law.
34. In 2003 the application of section 1 of the Commodity Bonds Act was for the first time suspended in the part concerning the Urozhay-90 bonds. The suspension clause was maintained in the following years (Federal Law No. 176-FZ of 24 December 2002; No. 186-FZ of 23 December 2003; No. 173-FZ of 23 December 2004; No. 189-FZ of 26 December 2005; No. 238-FZ of 19 December 2006; and No. 198-FZ of 24 July 2007).
35. On 19 July 2009 a federal law governing the procedure for the buyout of the Urozhay-90 bonds was adopted (No. 200-FZ - "the Buyout Act"). It established that holders of the bonds would be paid, in the period between 15 December 2009 and 31 December 2010, an amount equivalent to the nominal value of the bonds divided by 1,000 (section 2). The law also amended the Commodity Bonds Act by removing the reference to the Urozhay-90 bonds from section 1 of that Act.
36. On 15 September 2009 the Government issued Resolution No. 749, setting out the detailed procedure for payments in exchange for the production of Urozhay-90 bonds.
37. On 15 December 2000 the Constitutional Court gave a decision on an application lodged by the Parliament of the Sakha (Yakutiya) Republic, which had claimed that the amendments of 2 June 2000 (see above) had indefinitely delayed the implementation of the State's obligations towards the bearers of the Urozhay-90 bonds. The Constitutional Court declared the application inadmissible for the following reasons:
"In its [previous decisions] the Constitutional Court has already determined that a unilateral change in the scope of the State's obligations towards individuals, including the obligation to sell goods in exchange for commodity bonds, is impermissible. This does not exclude, however, the possibility of imposing restrictions on the property rights of individuals - in an established form and within the constitutional limits - in the matter of State obligations, which is compatible with Article 55 § 3 of the Constitution.
In particular, it follows from the case-law of the Constitutional Court... that implementation of the rights and lawful interests of individual citizens or groups of citizens should not excessively and adversely affect the budgetary resources allocated for satisfying the rights and interests of society as a whole. This principle becomes particularly relevant in a situation where budgetary resource
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