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Ministry of Justice

Russian Federation

On August 6, 2018 No. 51785

INSTRUCTION OF CENTRAL BANK OF THE RUSSIAN FEDERATION

of July 3, 2018 No. 4848-U

About features of issue and registration of securities of insurance company when implementing by the Bank of Russia of measures for the prevention of bankruptcy of insurance company

This Instruction according to Item 27 of article 184.3-4 of the Federal Law of October 26, 2002 No. 127-FZ "About insolvency (bankruptcy)" (The Russian Federation Code, 2002, No. 43, Art. 4190; 2004, No. 35, Art. 3607; 2005, No. 1, Art. 18, Art. 46; No. 44, Art. 4471; 2006, No. 30, Art. 3292; No. 52, Art. 5497; 2007, No. 7, Art. 834; No. 18, Art. 2117; No. 30, Art. 3754; No. 41, Art. 4845; No. 49, Art. 6079; 2008, No. 30, Art. 3616; No. 49, Art. 5748; 2009, No. 1, Art. 4, Art. 14; No. 18, Art. 2153; No. 29, Art. 3632; No. 51, Art. 6160; No. 52, Art. 6450; 2010, No. 17, Art. 1988; No. 31, Art. 4188, Art. 4196; 2011, No. 1, Art. 41; No. 7, Art. 905; No. 19, Art. 2708; No. 27, Art. 3880; No. 29, Art. 4301; No. 30, Art. 4576; No. 48, Art. 6728; No. 49, Art. 7015, Art. 7024, Art. 7040, Art. 7061, Art. 7068; No. 50, Art. 7351, Art. 7357; 2012, No. 31, Art. 4333; No. 53, Art. 7607, Art. 7619; 2013, No. 23, Art. 2871; No. 26, Art. 3207; No. 27, Art. 3477, Art. 3481; No. 30, Art. 4084; No. 51, Art. 6699; No. 52, Art. 6975, Art. 6984; 2014, No. 11, Art. 1095, Art. 1098; No. 30, Art. 4217; No. 49, Art. 6914; No. 52, Art. 7543; 2015, No. 1, Art. 10, Art. 11, Art. 29, Art. 35; No. 27, Art. 3945, Art. 3958, Art. 3967, Art. 3977; No. 29, Art. 4350, Art. 4355, Art. 4362; 2016, No. 1, Art. 11, Art. 27, Art. 29; No. 23, Art. 3296; No. 26, Art. 3891; No. 27, Art. 4225, Art. 4237, Art. 4293, Art. 4305; 2017, No. 1, Art. 29; No. 18, Art. 2661; No. 25, Art. 3596; No. 31, Art. 4761, Art. 4767, Art. 4815, Art. 4830; No. 48, Art. 7052; 2018, No. 1, Art. 54; No. 11, Art. 1588; No. 18, of the Art. 2557, of the Art. 2563, of the Art. 2576) (further - the Federal Law "About Insolvency (Bankruptcy)") establishes features of issue and registration of securities of insurance company when implementing by the Bank of Russia of measures for the prevention of bankruptcy of insurance company.

Chapter 1. General provisions

1.1. Releases (additional releases) of shares and reports on results of releases (additional releases) of shares of insurance company if such releases (additional releases) are performed according to the plan of participation of the Bank of Russia in implementation of measures for the prevention of bankruptcy of insurance company, are subject to state registration in the Bank of Russia (Department of the corporate relations) (further - registering body) according to the procedure provided by the Provision of the Bank of Russia of August 11, 2014 No. 428-P "About standards of issue of securities, procedure for state registration of release (additional release) of issued securities, state registration of reports on release results (additional release) of issued securities and registration of securities prospectuses" the registered Ministry of Justice of the Russian Federation on September 9, 2014 No. 34005, on November 12, 2015 No. 39691, on May 20, 2016 No. 42184, on November 22, 2016 No. 44386, on August 28, 2017 No. 47988 (further - the Provision of the Bank of Russia No. 428-P), taking into account the features established by this Instruction.

1.2. The decision on share placing of insurance company when implementing by the Bank of Russia of measures for the prevention of bankruptcy of insurance company is made by temporary administration of insurance company which functions are assigned to "Managing Company of Fund of Consolidation of Banking Sector" limited liability company (further - temporary administration).

1.3. The decision on release (additional release) of shares and the report on release results (additional release) of securities represented for state registration of release (additional release) and the report on release results (additional release) of shares of insurance company affirm temporary administration.

Chapter 2. Features of share issue of insurance company in case of reduction of the size of the authorized capital

2.1. In case, stipulated in Item 1 article 184.3-4 of the Federal law "About Insolvency (Bankruptcy)", based on the subitem 8 of item 4 of article 184.3-1 of the Federal law "About Insolvency (Bankruptcy)" and the order of the Bank of Russia on reduction of the size of the authorized capital of insurance company up to the size of own means (capital) and if this size has negative value, to one ruble, the temporary administration makes the decision on share placing of insurance company in connection with reduction of the size of its authorized capital.

2.2. If on acceptance date the Bank of Russia of the decision on reduction of the size of the authorized capital of insurance company it is at any stage of share issue, at the same time the procedure of share issue of insurance company does not provide state registration of the report on results of their release (additional release), and one transaction on share placing of this release (additional release) is made at least, the temporary administration before decision making in connection with reduction of the size of its authorized capital makes the decision on completion of share placing and the decision on approval of the notification on release results (additional release) of shares on share placing of insurance company.

The notification on release results (additional release) of shares prepared according to appendix 23 to the Provision of the Bank of Russia No. 428-P shall be provided by temporary administration to registering body no later than one working day from the date of its approval by temporary administration in time.

The temporary administration has no right to send to the address of organizers of trade in the security market (exchanges) the statement for the termination of the biddings according to the shares having the same individual state registration number, as additionally issued shares on which the notification on release results (additional release) of shares according to paragraph one of this Item, until submission of such notification to registering body shall be provided.

2.3. For state registration of release and the report on results of share issue of insurance company the temporary administration shall provide to registering body:

the decision on share issue according to appendix 12 to the Provision of the Bank of Russia No. 428-P;

the statement on state registration of release and the report on share issue results according to appendix 5 to the Provision of the Bank of Russia No. 428-P;

the list of documents according to appendix 9 to the Provision of the Bank of Russia No. 428-P;

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