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Ministry of Justice

Russian Federation

On June 13, 2019 No. 54924

INSTRUCTION OF CENTRAL BANK OF THE RUSSIAN FEDERATION

of January 31, 2019 No. 5065-U

About procedure for application by the Bank of Russia to subjects of insurance case of measures, the stipulated in Article 32.5-1 Law of the Russian Federation "About the organization of insurance case in the Russian Federation"

(as amended on 19-08-2021)

This Instruction based on Item 5 of article 32.5-1 of the Law of the Russian Federation of November 27, 1992 No. 4015-1 "About the organization of insurance case in the Russian Federation" (Sheets of the Congress of People's Deputies of the Russian Federation and the Supreme Council of the Russian Federation, 1993, No. 2, Art. 56; Russian Federation Code, 1998, No. 1, Art. 4; 1999, No. 47, Art. 5622; 2002, No. 12, Art. 1093; No. 18, Art. 1721; 2003, No. 50, Art. 4855, Art. 4858; 2004, No. 30, Art. 3085; 2005, No. 10, Art. 760; No. 30, Art. 3101, Art. 3115; 2007, No. 22, Art. 2563; No. 46, Art. 5552; No. 49, Art. 6048; 2009, No. 44, Art. 5172; 2010, No. 17, Art. 1988; No. 31, Art. 4195; No. 49, Art. 6409; 2011, No. 30, Art. 4584; No. 49, Art. 7040; 2012, No. 53, Art. 7592; 2013, No. 26, Art. 3207; No. 30, Art. 4067; No. 52, Art. 6975; 2014, No. 23, Art. 2934; No. 30, Art. 4224; No. 45, Art. 6154; 2015, No. 10, Art. 1409; No. 27, Art. 3946, Art. 4001; No. 29, Art. 4357, Art. 4385; No. 48, Art. 6715; 2016, №1, of Art. 52; No. 22, Art. 3094; No. 26, Art. 3863, Art. 3891; No. 27, Art. 4225, Art. 4294, Art. 4296; 2017, No. 31, Art. 4754, Art. 4830; 2018, No. 1, Art. 10, Art. 66; No. 18, Art. 2557; No. 31, Art. 4840; No. 32, Art. 5113, Art. 5115; No. 49, of the Art. 7524) (further - the Law of the Russian Federation "About the organization of insurance case in the Russian Federation") establishes procedure for application by the Bank of Russia to subjects of insurance case of measures, the stipulated in Article 32.5-1 Law of the Russian Federation "About the organization of insurance case in the Russian Federation".

Chapter 1. General provisions

1.1. According to article 32.5-1 of the Law of the Russian Federation "About the organization of insurance case in the Russian Federation" the Bank of Russia applies the following measures to subjects of insurance case:

the instruction about elimination of violation of the insurance legislation (further - the instruction about violation elimination);

restriction for making of separate transactions;

prohibition on making of separate transactions;

restriction of action of the license of the subject of insurance case;

suspension of action of the license of the subject of insurance case.

1.2. In case of adoption by the Bank of Russia of the decision on application of measures, the stipulated in Item 1.1 presents of the Instruction (further - measures), are considered nature and the reasons of the insurance case of violation and (or) actions creating threat to the rights and legitimate interests of insurers, insured persons, beneficiaries and (or) threat of stability of the financial (insurance) market allowed by the subject (further - threat), and also extent of influence of the allowed violation on economic situation of the subject of insurance case.

1.3. According to article 32.5-2 of the Law of the Russian Federation "About the organization of insurance case in the Russian Federation" (Sheets of the Congress of People's Deputies of the Russian Federation and the Supreme Council of the Russian Federation, 1993, No. 2, Art. 56; Russian Federation Code, 1998, No. 1, Art. 4; 2020, No. 52, the Art. 8588) the Bank of Russia for the purpose of ensuring execution of the measures provided by paragraphs the third and fourth Item 1.1 of this Instruction, the decision on suspension of account transactions having the right to make according to the bank accounts (deposits) opened to the subject of insurance case, transactions on the custody accounts (personal accounts) opened to the subject of insurance case (further in case of joint mentioning - account transactions) fully or partially.

1.4. According to Item 5 of article 33.1 of the Law of the Russian Federation "About the organization of insurance case in the Russian Federation" (Sheets of the Congress of People's Deputies of the Russian Federation and the Supreme Council of the Russian Federation, 1993, No. 2, Art. 56; Russian Federation Code, 1998, No. 1, Art. 4; No. 27, of the Art. 5171) the Bank of Russia does not apply 2021, to foreign insurance companies of measure, provided by paragraphs the third and fourth Item 1.1 of this Instruction.

Chapter 2. Identification of the bases for application of measures and preparation of offers on application of measures for subjects of insurance case

2.1. The bases for application to the subject of insurance case of measures come to light the structural division of the Bank of Russia exercising supervision of activities of subjects of insurance case (further - authorized division of the Bank of Russia), during implementation of supervising functions on the basis of the information which is available at its order obtained by results:

the analysis of the reporting represented by the subject of insurance case to the Bank of Russia according to Article 28, item 4 of article 33.1 of the Law of the Russian Federation "About the organization of insurance case in the Russian Federation";

the inspections of activities of the subject of insurance case which are carried out according to the procedure, No. 86-FZ established by the Bank of Russia according to part two of article 76.5 of the Federal Law of July 10, 2002 "About the Central bank the Russian Federation (Bank of Russia)" (The Russian Federation Code, 2002, No. 28, Art. 2790; 2013, No. 30, Art. 4084; 2019, No. 29, Art. 3857);

the analysis of the documents received by the Bank of Russia from temporary administration of insurance company;

considerations of the addresses arriving in the Bank of Russia;

the analysis of other documentary confirmed information on activities of the subject of insurance case.

2.2. The authorized division of the Bank of Russia in case of identification of the bases for application to subjects of insurance case of measures shall prepare the motivated offer on application of measures for the subject of insurance case, except for the case specified in Item 2.3 of this Instruction.

2.3. In case of identification of the bases for application the draft of the instruction of the Bank of Russia about violation elimination shall be prepared for the subject of insurance case of measure in the form of the instruction about elimination of violation by authorized division of the Bank of Russia.

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