PROVISION OF CENTRAL BANK OF THE RUSSIAN FEDERATION

of July 16, 2018 No. 648-P

About temporary administration of insurance company

According to items 4 and 12th Article 183. 6, Item 3 of Article 183. 10, Items 5, 6.2, 8, 10 and 13 Article 184. 1, Items 2 and 5 of Article 184.1-1, Item 2 of article 184.3 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. 6979, 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, Art. 2557, Art. 2563, Art. 2576; No. 28, the Art. 4139) (further - the Federal Law "About Insolvency (Bankruptcy)") the Bank of Russia:

approves procedure for adoption by the Bank of Russia of the decision on appointment of temporary administration of insurance company (further - temporary administration);

establishes cases of appointment of temporary administration;

establishes approval procedure the Bank of Russia of structure of temporary administration, procedure and the bases of change of its structure;

establishes procedure for adoption by the Bank of Russia of the decision on suspension of powers of governing bodies of insurance company based on the petition of temporary administration;

establishes order of interaction of temporary administration and Bank of Russia, form of the control of temporary administration exercised by the Bank of Russia, procedure for the report of temporary administration before the Bank of Russia about execution of the functions assigned to it;

establishes approval procedure the Bank of Russia of expense budget, connected with implementation of activities of temporary administration, procedure for covering of expenses of temporary administration at the expense of means of the Bank of Russia in case of insufficiency of liquid property of insurance company;

establishes procedure for reference of property of insurance company to liquid property;

establishes requirements to procedure for carrying out financial analysis of insurance company and form of the conclusion about its financial condition;

establishes procedure and conditions of the organization by temporary administration of implementation of transfer of the insurance portfolio, including on types of insurance on which implementation of compensation payments, in case of availability is provided in the conclusion about financial condition of insurance company of conclusion about possibility of transfer of the insurance portfolio;

establishes procedure for transfer by temporary administration to the receiver in case of opening of bankruptcy proceedings concerning insurance company of forms of the strict reporting under all types of activity and documents specified in Item 1 of article 184.3 of the Federal law "About Insolvency (Bankruptcy)";

establishes procedure for involvement of temporary administration by the head on contractual basis of accountants, auditors, specialized depositaries, appraisers, actuaries, operators of electronic platforms and other persons for providing the obligations assigned to temporary administration.

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