Document from CIS Legislation database © 2003-2024 SojuzPravoInform LLC

PRESIDENTIAL DECREE OF THE RUSSIAN FEDERATION

of March 3, 2023 No. 138

About the additional temporary measures of economic nature connected with security circulation

Due to the unfriendly and contradicting international law actions of the United States of America and the foreign states and the international organizations which adjoined them directed to introduction of rationing arrangements concerning citizens of the Russian Federation and the Russian legal entities for the purpose of protection of national interests of the Russian Federation, ensuring its financial stability and according to the Federal Laws of December 30, 2006 No. 281-FZ "About special economic measures and enforcement powers", of December 28, 2010 No. 390-FZ "About safety" and of June 4, 2018 No. 127-FZ "About corrective actions (counteraction) on unfriendly actions of the United States of America and other foreign states" I decide:

1. Determine that transaction (transaction) with shares of the Russian joint stock company, federal loan bonds, bonds of the Russian issuer, centralized accounting of the rights to which (which obligatory centralized storage) is performed by the Russian depositary, with investment shares of the Russian mutual investment fund, the property rights to these securities, their transfer to trust management or pledge involving transition, are made according to the procedure, determined by this Decree if such securities or securities of foreign issuers certifying the rights concerning shares of the Russian joint stock company are acquired after March 1, 2022 at persons of unfriendly foreign states (except for persons, the subitems "an" and "b" of Item 12 of the Presidential decree of the Russian Federation meeting at the same time the requirements of March 5, 2022 No. 95 "About temporary procedure for obligation fulfillment before some foreign creditors") are also enlisted into the custody account (personal account) of the owner opened in the Russian depositary or the register of owners of securities:

a) from the personal account of the foreign organization which is the registrar according to its personal law opened in the register of owners of securities;

b) with opened in the Russian depositary or the register of owners of securities of the custody account (personal account) of the foreign nominee holder;

c) from the custody account of depositary programs opened in the Russian depositary;

d) from the custody account of the foreign authorized holder opened in the Russian depositary;

e) with open for the foreign organization in the Russian depositary or the register of owners of securities of the custody account (personal account) of the owner (the custody account of the foreign authorized holder), - concerning securities, ownership of which or any legal and actual acts with which agreements are performed by the foreign organization for the benefit of the other person based on the prisoner (including on foreign law) between them.

2. Based on the permissions issued by the Central bank of the Russian Federation or Russian Government Commission on Foreign Investments and in need of the transactions (transactions) containing conditions, are made:

a) the transaction (transaction) on transfer to residents, and also the nonresidents meeting at the same time the requirements of subitems "an" and "b" of Item 12 of the Presidential decree of the Russian Federation of March 5, 2022 No. 95 "About temporary procedure for obligation fulfillment before some foreign creditors", to the nonresidents who are not persons of the unfriendly foreign states acquired and enlisted according to Item 1 of this Decree of shares of the Russian joint stock company, federal loan bonds, bonds of the Russian issuer, centralized accounting of the rights to which (which obligatory centralized storage) is performed by the Russian depositary, the investment shares of the Russian mutual investment fund (further also - the Russian securities) including acquired (received) based on the agreement signed till March 1, 2022 inclusive;

b) the transaction (transaction) on transfer after March 1, 2022 to residents, and also the nonresidents meeting at the same time the requirements of subitems "an" and "b" of Item 12 of the Presidential decree of the Russian Federation of March 5, 2022 No. 95 "About temporary procedure for obligation fulfillment before some foreign creditors", to the nonresidents who are not persons of unfriendly foreign states of shares of the Russian issuers received as a result of the securities redemption of the foreign issuers certifying the rights concerning such shares (provided that the securities of foreign issuers certifying the rights concerning such shares are received as a result of the termination (execution) of obligations on the foreign financial instrument acquired till March 1, 2022 inclusive).

3. Permissions, the stipulated in Item 2 presents of the Decree, are issued:

a) Central Bank of the Russian Federation - to applicants, being credit institutions and not credit financial credit institutions;

b) Russian Government Commission on Foreign Investments - to applicants, not being credit institutions and not credit financial credit institutions.

4. The subsequent transactions (transaction) with securities which transfer is performed according to Items 2 and 3 of this Decree are made taking into account the restrictions set by this Decree, except for case, stipulated in Item 5 these Decrees.

5. The subsequent transactions (transaction) with the Russian securities (except for federal loan bonds) received in connection with repayment of obligations according to the credit agreement (loan agreement) according to which obligation fulfillment is provided with pledge of the Russian securities (provided that the credit agreement (loan agreement) is signed and encumbrance of the Russian securities by pledge it is fixed registered) by the holder of the register of owners of securities or the Russian depositary about day of entry into force of this Decree), are made by the Russian credit institution concerning which foreign states and (or) the international organizations enter rationing arrangements, without the restrictions set by this Decree.

6. The maximum quantity and amount of transactions (transactions), the stipulated in Item 4 presents of the Decree can be determined by the solution of the Board of directors of the Central bank of the Russian Federation. Such solution of the Board of directors of the Central bank of the Russian Federation is subject to official publication according to article 7 of the Federal Law of July 10, 2002 No. 86-FZ "About the Central bank the Russian Federation (Bank of Russia)".

7. To provide to registrars and depositaries the isolated accounting of the Russian securities.

8. Requirements of this Decree do not extend to transactions (transactions):

Warning!!!

This is not a full text of document! Document shown in Demo mode!

If you have active License, please Login, or get License for Full Access.

With Full access you can get: full text of document, original text of document in Russian, attachments (if exist) and see History and Statistics of your work.

Get License for Full Access Now

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info

Effectively work with search system

Database include more 50000 documents. You can find needed documents using search system. For effective work you can mix any on documents parameters: country, documents type, date range, teams or tags.
More about search system

Get help

If you cannot find the required document, or you do not know where to begin, go to Help section.

In this section, we’ve tried to describe in detail the features and capabilities of the system, as well as the most effective techniques for working with the database.

You also may open the section Frequently asked questions. This section provides answers to questions set by users.

Search engine created by SoyuzPravoInform LLC.