Common use of Actions under the Program Clause in Contracts

Actions under the Program. The actions taken by the Borrower, through the Entities, under the Program include the following: The Parliament of RS has enacted a law, satisfactory to the Bank, on targeting of cash benefits mandating the targeting to needs. The Parliament of the Federation has enacted a law, satisfactory to the Bank, with a view to: (a) targeting cash benefits by way of mandating targeting to needs; (b) introducing a coefficient mechanism for all rights-based benefit schemes; and (c) introducing the indexation of all rights-based benefits to inflation instead of wage growth. The Parliament of RS has enacted a law, satisfactory to the Bank, amending the RS Law on the Rights of War Veterans and Families of Deceased Soldiers (Official Gazette No. 55/07) with a view to introducing, as of January 1, 2011, the targeting to means for the following benefits: (a) disabled war veterans with disability level 20% to and including 50%; and (b) all family benefits with the exception of children under age 27 who receive full time education. The Parliament of the Federation has enacted a law, satisfactory to the Bank, amending the Federation Law on Rights of Defenders and their Families (Official Gazette No. 33/04, as amended) with a view to introducing: (a) as of January 1, 2011, the targeting to means for the following benefits: (i) disabled war veterans with disability level 20% to and including 50%; and (ii) all family benefits with the exception of children under age 27 who receive full time education; (b) a coefficient mechanism for rights-based benefit schemes under said Law; and (c) indexation of rights-based benefits under said Law to inflation instead of wage growth. The Parliament of the Federation has enacted a law, satisfactory to the Bank, amending Federation Law on Special Rights of the Holders of Military Decorations (Official Gazette No. 70/05) with a view to introducing: (a) income means testing as of May 1, 2010; (b) a coefficient mechanism for rights-based benefit schemes under said Law; and (c) indexation of rights-based benefits under said Law to inflation instead of wage growth. The Parliament of the Federation has enacted a law, satisfactory to the Bank, repealing the Federation Law on Rights of Demobilized Soldiers and their Families (Official Gazette No. 61/06) and providing that benefits extended to current beneficiaries pursuant to said Law will cease on April 30, 2010. The Parliament of the Federation has enacted a law, satisfactory to the Bank, mandating the carrying out of eligibility audits for right-based veterans’ benefits and including a detailed plan providing for the implementation of said law based on a clear set of priorities for the carrying out of said audits, including, but not limited to, a targeted review of all disabled veterans in the disability category of 60%-80%. The Government of RS has adopted an action plan, in form and substance satisfactory to the Bank, to improve the carrying out of audits of the current status and rights of disabled war veterans, including all disabled war veterans in disability categories 1 to 10 and the families of deceased soldiers.

Actions under the Program. The actions taken by the BorrowerRecipient, through the Entities, under the Program include the following: The Parliament of RS has enacted a law, satisfactory to the BankAssociation, on targeting of cash benefits mandating the targeting to needs. The Parliament of the Federation has enacted a law, satisfactory to the BankAssociation, with a view to: (a) targeting cash benefits by way of mandating targeting to needs; (b) introducing a coefficient mechanism for all rights-based benefit schemes; and (c) introducing the indexation of all rights-based benefits to inflation instead of wage growth. The Parliament of RS has enacted a law, satisfactory to the BankAssociation, amending the RS Law on the Rights of War Veterans and Families of Deceased Soldiers (Official Gazette No. 55/07) with a view to introducing, as of January 1, 2011, the targeting to means for the following benefits: (a) disabled war veterans with disability level 20% to and including 50%; and (b) all family benefits with the exception of children under age 27 who receive full time education. The Parliament of the Federation has enacted a law, satisfactory to the BankAssociation, amending the Federation Law on Rights of Defenders and their Families (Official Gazette No. 33/04, as amended) with a view to introducing: (a) as of January 1, 2011, the targeting to means for the following benefits: (i) disabled war veterans with disability level 20% to and including 50%; and (ii) all family benefits with the exception of children under age 27 who receive full time education; (b) a coefficient mechanism for rights-based benefit schemes under said Law; and (c) indexation of rights-based benefits under said Law to inflation instead of wage growth. The Parliament of the Federation has enacted a law, satisfactory to the BankAssociation, amending Federation Law on Special Rights of the Holders of Military Decorations (Official Gazette No. 70/05) with a view to introducing: (a) income means testing as of May 1, 2010; (b) a coefficient mechanism for rights-based benefit schemes under said Law; and (c) indexation of rights-based benefits under said Law to inflation instead of wage growth. The Parliament of the Federation has enacted a law, satisfactory to the BankAssociation, repealing the Federation Law on Rights of Demobilized Soldiers and their Families (Official Gazette No. 61/06) and providing that benefits extended to current beneficiaries pursuant to said Law will cease on April 30, 2010. The Parliament of the Federation has enacted a law, satisfactory to the BankAssociation, mandating the carrying out of eligibility audits for right-based veterans’ benefits and including a detailed plan providing for the implementation of said law based on a clear set of priorities for the carrying out of said audits, including, but not limited to, a targeted review of all disabled veterans in the disability category of 60%-80%. The Government of RS has adopted an action plan, in form and substance satisfactory to the Bank, to improve the carrying out of audits of the current status and rights of disabled war veterans, including all disabled war veterans in disability categories 1 to 10 and the families of deceased soldiers.