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ORDER OF THE GOVERNMENT OF THE RUSSIAN FEDERATION

of February 1, 2007 No. 63

About approval of Rules of investment of funds of pension reserves of non-state pension funds and control of their placement

(The last edition from 26-08-2013)

According to article 25 of the Federal law "About Non-state Pension Funds" Government of the Russian Federation decides:

1. Approve the enclosed Rules of investment of funds of pension reserves of non-state pension funds and control of their placement (further - Rules).

2. Activities for investment of funds of pension reserves are subject to reduction in compliance with Rules within 6 months from the effective date of this resolution.

3. Non-state pension funds shall bring structure and structure of pension reserves into accord with Rules till February 1, 2012 in case of observance of the following conditions:

a) voided

b) the actions directed to increase in the share of assets in which means of pension reserves are placed exceeding their most admissible share established by Rules, or equal to it are not allowed;

c) the actions directed to increase in share of assets in which means of pension reserves are placed over their most admissible share established by Rules or pension rules are not allowed if at the time of entry into force of this resolution it does not exceed the specified most admissible share;

d) acquisition of assets, not stipulated in Item 5 Rules, or the actions directed to increase in their share in pension reserves of non-state pension fund are not allowed;

e) availability and execution of the actions plan on reduction of structure and structure of pension reserves in compliance with Rules (further - the actions plan) in case, stipulated in Item 5 these resolutions.

3.1. For the purpose of reduction of structure and structure of pension reserves in compliance with Rules in case of observance of conditions, the stipulated in Item 3 presents of the resolution, transaction with assets in which means of pension reserves are placed can be made without observance of the requirements provided by Items 21 and 28 of Rules.

4. From the effective date of this resolution to provide to non-state pension funds within 10 working days to the Federal Service for Financial Markets the list of assets in which means of the pension reserves which are not provided by Rules are placed and (or) the share of which exceeds the most admissible share established by Rules, their number, cost and share in pension reserves of non-state pension fund as of the specified date.

5. Non-state pension funds which have total asset cost specified in Item 4 of this resolution, are exceeded by 5 billion rubles, shall provide to the Federal Service for Financial Markets the actions plan in a month.

6. The actions plan shall contain:

a) the plan of asset retirement, specified in Item 4 of this resolution, or reducing their share;

b) conditions of asset retirement, specified in Item 4 of this resolution, in case of their sale;

c) annual planned amounts of asset retirement, specified in Item 4 of this resolution, and in case of their sale at the biddings of organizers of trade in the security market - planned amounts of such sales.

7. In case of modification of the actions plan the specified changes go to the Federal Service for Financial Markets no later than the day following date of their introduction.

8. The Federal Service for Financial Markets has the right to demand change of the actions plan if its realization can violate the rights and legitimate interests of investors and members of non-state pension fund.

9. Declare invalid the order of the Government of the Russian Federation of December 23, 1999 No. 1432 "About approval of Rules of placement of pension reserves of non-state pension funds and control of their placement" (The Russian Federation Code, 1999, No. 52, the Art. 6418).

10. To the Federal Service for Financial Markets:

a) in 3-month time to develop and adopt in accordance with the established procedure the regulatory legal acts necessary for implementation of this resolution;

b) to submit within 6-month term within the Government of the Russian Federation the offers approved with the Ministry of Health and Social Development of the Russian Federation, the Ministry of Economic Development and Trade of the Russian Federation and the Ministry of Finance of the Russian Federation on investment of funds of pension reserves to real estate.

Russian Prime Minister

M. Fradkov

 

Approved by the Order of the Government of the Russian Federation of February 1, 2007 No. 63

Rules of investment of funds of pension reserves of non-state pension funds and control of their placement

I. General provisions

1. These rules establish procedure for investment of funds of pension reserves of non-state pension funds (daleefonda) and control of their placement, and also requirements for forming of structure and structure of pension reserves of funds.

2. Means of pension reserves are placed only for the purpose of preserving and surplus of means of pension reserves for the benefit of members of funds.

3. Investment of funds of pension reserves is performed by fund independently and (or) managing company (managing companies) of fund based on the trust management agreement of pension reserves.

4. Investment of funds of pension reserves of fund is performed according to the Federal Law "About Non-state Pension Funds", these rules, other regulatory legal acts, and also pension rules of fund and trust management agreements of pension reserves.

II. Requirements for forming of structure and structure of pension reserves of fund

5. Pension reserves of fund can constitute:

a) money, including foreign currency, placed on bank accounts and in bank deposits taking into account condition, stipulated in Item 11 these rules;

b) government securities of the Russian Federation;

c) the government securities of subjects of the Russian Federation admitted to trading by the Russian organizers of trade in the security market;

d) the municipal bonds admitted to trading by the Russian organizers of trade in the security market;

e) deposit certificates of the Russian banks;

e) the shares of the Russian open joint stock companies admitted to trading by the Russian organizers of trade in the security market;

g) the bonds of the Russian economic societies admitted to trading by the Russian organizers of trade in the security market;

h) the mortgage securities issued in accordance with the legislation of the Russian Federation about mortgage securities and admitted to trading by the Russian organizers of trade in the security market;

i) investment shares of the open and interval mutual investment funds created in accordance with the legislation of the Russian Federation;

j) investment shares of the closed-end investment funds created in accordance with the legislation of the Russian Federation;

k) securities of the governments of foreign states taking into account conditions, stipulated in Item 7 these rules;

l) the securities of international financial institutions included in the list approved by the Federal Service for Financial Markets;

m) shares of foreign joint-stock companies and the bond of the foreign commercial organizations taking into account the conditions established by Items 8 and 9 of these rules;

o) shares (shares, shares) of foreign investment funds taking into account conditions, stipulated in Item 10 these rules;

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