INSTRUCTION OF CENTRAL BANK OF THE RUSSIAN FEDERATION

of August 5, 2024 No. 6817-U

About cost determination of the investment shares of the closed-end investment funds intended for skilled investors acquired by insurance company and also about procedure for determination of the amount of the monetary compensation which is subject to payment in connection with repayment of investment share of closed-end investment fund which investment shares are intended for skilled investors

This Instruction based on paragraph two of Item 7 of article 11.1 of the Law of the Russian Federation of November 27, 1992 No. 4015-I "About the organization of insurance case in the Russian Federation", the paragraph of third Item 7 of article 23 of the Federal Law of November 29, 2001 No. 156-FZ "About investment funds":

determines the cost of the investment shares of the closed-end investment funds intended for skilled investors acquired by insurance company;

establishes procedure for determination of the amount of the monetary compensation which is subject to payment in connection with repayment of investment share of closed-end investment fund which investment shares are intended for skilled investors.

1. The cost of the investment shares of the closed-end investment funds intended for skilled investors acquired by insurance company (further - investment shares of closed-end investment funds), in the case specified in the paragraph the second Item 7 of article 11.1 of the Law of the Russian Federation of November 27, 1992 to No. 4015-I "About the organization of insurance case in the Russian Federation" cannot be less work:

the settlement cost of investment share of closed-end investment fund determined according to Item 2.2 of the Instruction of the Bank of Russia of August 25, 2015 No. 3758-U "About cost determination of net assets of investment funds including about procedure of payments of annual average net assets value of mutual investment fund and net assets of the joint-stock investment fund, settlement cost of investment shares of mutual investment funds, property value transferred to payment of investment shares" <1> (further - the Instruction of the Bank of Russia No. 3758-U), as of the last date its determinations preceding date of acquisition by insurance company of investment shares of such closed-end investment fund;

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<1> It is registered by the Ministry of Justice of the Russian Federation on October 8, 2015, registration No. 39234, with the changes made by Instructions of the Bank of Russia of December 12, 2016 No. 4233-U (it is registered by the Ministry of Justice of the Russian Federation on January 13, 2017, registration No. 45188), of April 20, 2020 No. 5447-U (it is registered by the Ministry of Justice of the Russian Federation on May 26, 2020, registration No. 58470), of June 28, 2024 No. 6779-U (it is registered by the Ministry of Justice of the Russian Federation on October 2, 2024, registration No. 79680).

quantities of the investment shares of such closed-end investment fund acquired by insurance company.

2. In case of repayment by the insurance company having the license of managing company for implementation of activities for management of investment funds, mutual investment funds and non-state pension funds, in case, the specified in paragraph three of Item 7 of article 23 of the Federal Law of November 29, 2001 No. 156-FZ "About investment funds", the investment shares of closed-end investment fund belonging to person who acquired the specified shares not based on the agreement of equity life insurance the amount of the monetary compensation which is subject to payment in connection with their repayment is determined according to rules of trust management of such fund and there cannot be less work:

the settlement cost of investment share of closed-end investment fund determined in compliance by Item 2.2 of the Instruction of the Bank of Russia No. 3758-U as of the last date its determinations preceding repayment date of investment shares of such closed-end investment fund;

quantities of the investment shares of such closed-end investment fund belonging to person who acquired the specified shares not based on the agreement of equity life insurance.

3. This Instruction is subject to official publication and according to the solution of the Board of directors of the Bank of Russia (the minutes of the Board of directors of the Bank of Russia of July 26, 2024 No. PSD-24) become effective since January 1, 2025.

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