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Ministry of Justice

Russian Federation

On November 26, 2018 No. 52779

INSTRUCTION OF CENTRAL BANK OF THE RUSSIAN FEDERATION

of July 30, 2018 No. 4876-U

About procedure for development and approval of the plan of participation of the Bank of Russia by the Bank of Russia in implementation of measures for the prevention of bankruptcy of insurance company, modification of the approved plan of participation of the Bank of Russia in implementation of measures for the prevention of bankruptcy of insurance company, about structure of the report of "Managing Company of Fund of Consolidation of Banking Sector" limited liability company on the course of accomplishment of the actions provided by the plan of participation of the Bank of Russia in implementation of measures for the prevention of bankruptcy of insurance company and procedure for its submission to the Bank of Russia

(as amended of the Instruction of the Central bank of the Russian Federation of 11.01.2021 No. 5692-U)

This Instruction based on Items 2 and 3 of article 184.3-3 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. 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, of the Art. 4139) (further - the Federal Law "About Insolvency (Bankruptcy)") establishes procedure for development and approval of the plan of participation of the Bank of Russia by the Bank of Russia in implementation of measures for the prevention of bankruptcy of insurance company (further - the plan of participation of the Bank of Russia), modification of the approved plan of participation of the Bank of Russia, structure of the report of "Managing Company of Fund of Consolidation of Banking Sector" limited liability company (further - Managing company) about the course of accomplishment of the actions provided by the plan of participation of the Bank of Russia (further - the report of Managing company), and procedure for its submission to the Bank of Russia.

Chapter 1. Development and approval of the plan of participation of the Bank of Russia by the Bank of Russia, modification of the approved plan of participation of the Bank of Russia

1.1. In case of plan development of participation of the Bank of Russia the structural division of the Bank of Russia authorized on implementation of measures for the prevention of bankruptcy of insurance companies shall perform its preparation (further - authorized division).

1.2. For the purpose of plan development of participation of the Bank of Russia the authorized division shall send to structural divisions of the Bank of Russia, Managing company and temporary administration of insurance company request about provision of information on activities of insurance company, and also provide information on activities of insurance company which is available for it in their address.

Structural divisions of the Bank of Russia, Managing company and temporary administration of insurance company shall direct required information in time, established by request of authorized division.

1.3. The authorized division in time no later than seven working days from the date of receipt of information according to Item 1.2 of this Instruction sends for consideration of Committee of financial supervision of the Bank of Russia (further - Committee) the following documents:

plan of participation of the Bank of Russia;

the report about the direction to the Board of directors of the Bank of Russia of the offer to make the decision on participation of the Bank of Russia in implementation of measures for the prevention of bankruptcy of insurance company and to approve the plan of participation of the Bank of Russia (further - the report with the offer on participation).

1.4. The report with the offer on participation shall contain:

reasons for sufficiency of measures for observance by insurance company of requirements of financial stability and solvency;

reasons for possibility of implementation of the proposed measures;

reasons for possibility of rendering financial aid by the Bank of Russia according to Items 7, the 9 or 10 article 184.3-3 of the Federal law "About Insolvency (Bankruptcy)";

information on feasibility (inexpediency) of assignment on Managing company of functions of temporary administration of insurance company;

information obtained according to Item 1.2 of this Instruction.

If the plan of participation of the Bank of Russia provides financial assistance according to Item 7 of article 184.3-3 of the Federal law "About Insolvency (Bankruptcy)", the report shall include reasons for possibility of implementation of the proposed measures taking into account conditions of rendering financial aid by the Bank of Russia.

1.5. By results of consideration of the documents specified in Item 1.3 of this Instruction, the Committee makes the decision on their direction to the Board of directors of the Bank of Russia or on refusal in their direction.

The authorized division no later than the working day following behind day of adoption by Committee of the decision on the direction to the Board of directors of the Bank of Russia of the documents specified in Item 1.3 of this Instruction shall send them to the Board of directors of the Bank of Russia and in writing inform Managing company on the decision of Committee.

The authorized division no later than the working day following behind day of adoption by Committee of the decision on refusal in the direction to the Board of directors of the Bank of Russia of the documents specified in Item 1.3 of this Instruction shall inform Managing company on the decision of Committee in writing.

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