FEDERAL LAW OF THE RUSSIAN FEDERATION

of May 7, 1998 No. 75-FZ

About non-state pension funds

Accepted by the State Duma of the Russian Federation on April 8, 1998

Approved by Council of the Russian Federation on April 22, 1998

Chapter I. General provisions

Article 1. The relations regulated by this Federal Law

This Federal Law governs the legal, economic and social relations arising during creation of non-state pension funds, implementation by them of activities for non-state pension provision, including for early non-state pension provision, forming of long-term savings, mandatory pension insurance, reorganization and liquidation of the specified funds and also establishes the basic principles of the state control of their activities.

The relations which arise during creation of non-state pension funds, implementation by them of activities, reorganization and liquidations of the specified funds are regulated by this Federal Law, the legislation of the Russian Federation on mandatory pension insurance, other Federal Laws and other regulatory legal acts of the Russian Federation, regulations of the Central bank of the Russian Federation (further - the Bank of Russia).

Article 2. Non-state pension funds

1. Non-state pension fund (further - fund) - the organization performing activities for non-state pension provision, including early non-state pension provision, forming of long-term savings, and (or) mandatory pension insurance. Such activities are performed by fund based on license for activities for provision of pensions and pension insurance (further - the license). Activities for forming of long-term savings have the right to perform the fund having the right to implementation of activities for non-state pension provision.

2. The fund has the right to perform activities for non-state pension provision from the date of entering by the Bank of Russia into the register of licenses of funds of data on statement of fund for accounting in system of guaranteeing the rights of participants.

The fund has the right to perform activities for forming of long-term savings from the date of entering by the Bank of Russia into the register of licenses of funds of data on registration by the Bank of Russia of rules of forming of long-term savings of fund.

The fund has the right to perform activities for mandatory pension insurance from the date of entering by the Bank of Russia into the register of licenses of funds of data on statement of fund for accounting in system of guaranteeing the rights of insured persons.

3. The fund has no right to perform activities, not stipulated in Item 1 this Article, except as specified combination of activities, stipulated in Item 1 this Article, with rendering consulting and information services in the sphere of the financial market, and also with activities for the benefit of other person on the basis of the agency agreement.

4. The fund has the right to render consulting and information services in the sphere of the financial market, and also to perform activities for the benefit of other person on the basis of the agency agreement only provided that amount of remuneration of fund from the specified activities current calendar year in total does not exceed 50 percent from average in three prior calendar years of cumulative amount of remuneration of fund when implementing by it of activities for non-state pension provision, forming of long-term savings and remuneration of fund when implementing by it of activities of the insurer for mandatory pension insurance.

5. The fund has the right to perform activities for the benefit of other person on the basis of the agency agreement only in case of simultaneous observance of requirements, stipulated in Item 4 these Articles, and the following conditions:

1) according to the agency agreement the fund makes only legal and other acts according to the conclusion, maintenance, change and agreement cancelation from name and at the expense of the principal who is the legal entity;

2) the rights, obligations and responsibility according to the transactions made by fund with the third parties from name and at the expense of principal in course of execution of the agency agreement at fund do not arise;

The fund has no right to receive 3) from the third parties of obligation fulfillment according to the transactions made by fund with the third parties from name and at the expense of principal in course of execution of the agency agreement.

6. Payment of the expenses connected with rendering services by fund, stipulated in Item 3 these Articles is made by own fund.

Article 3. The basic concepts used in this Federal Law

For the purposes of this Federal Law the following basic concepts are used:

the agreement of non-state pension provision (further the pension agreement) - the agreement between fund and the investor of fund (further - the investor) according to which the investor shall pay pension contributions to fund, and fund shall pay to the member (participants) of fund (further - the participant) non-state pension;

the agreement on mandatory pension insurance - the agreement between fund and insured face for benefit of insured person or his legal successors according to whom the fund shall in case of approach of the pension bases to perform appointment and payment to insured person of funded pension and (or) due retirement benefit or lump  sum payment or to perform payments to legal successors of insured person. Persons specified in part 7 of article 7 of the Federal Law of December 28, 2013 to No. 424-FZ "About funded pension" concern legal successors of insured person (further - the Federal Law "About Funded Pension");

the paragraph the fourth ceased to be valid according to the Federal Law of the Russian Federation of 28.12.2013 No. 410-FZ

the investor - the physical person or legal entity which is the party of the pension agreement and paying pension contributions to fund or the physical person which is the agreement party of long-term savings and paying savings fees to fund;

the participant - physical person to which according to the prisoner between the investor and fund the pension agreement or the agreement of long-term savings shall be made or payments of non-state pension or payment for the agreement of long-term savings are made. The participant can act as the investor in own favor;

insured person - the physical person which signed the agreement on mandatory pension insurance;

pension contribution - the money paid by the investor for benefit of the participant in accordance with the terms of the pension agreement;

non-state pension - the money which is regularly paid to the participant in accordance with the terms of the pension agreement;

funded pension - the monthly money payment appointed and paid by fund to insured person according to the Federal Law "About Funded Pension", this Federal Law and the agreement on mandatory pension insurance;

pension scheme - set of the conditions determining payment procedure of pension contributions and payments of non-state pensions;

the paragraph the fourteenth ceased to be valid according to the Federal Law of the Russian Federation of 28.12.2013 No. 410-FZ

the pension bases - the bases of acquisition by the participant of the right to non-state pension or the basis of acquisition by insured person of the right to funded pension;

the redemption amount - the money paid by fund to the investor, the participant or their legal successors or transferred to other fund in case of the termination of the pension agreement or agreement of long-term savings, and also paid to the agreement party of long-term savings in the presence of special life situations according to article 36.41 of this Federal Law;

the retirement account - the analytics form in fund containing the information about participants and about investors provided by this Federal Law under pension agreements and also of insured persons under agreements on mandatory pension insurance;

the retirement account of non-state pension provision - the analytics form in fund reflecting the balance size in the retirement account, receipt of pension contributions, results of placement of pension reserves, the performed warranty completions of reserves of covering of pension liabilities, charge of payments of non-state pensions to the participant (participants), charge of payments of the redemption amounts to the investor, the participant (participants) or their legal successors, and also charge of the redemption amounts to the investor, the participant (participants) or their legal successors for transfer to other fund in case of the termination of the pension agreement;

the retirement account of funded pension - the form of individual analytics in fund reflecting receipt of funds of pension accruals and results of their investment according to the requirements established by this Federal Law;

pension reserves - set of the means which are in property of fund and intended for execution by fund of obligations to participants according to pension agreements and agreements of long-term savings;

pension accruals - set of means, including funds of fees for joint financing of forming of the pension accruals which arrived according to the Federal Law "About Additional Insurance Premiums for Funded Pension and the State Support of Forming of Pension Accruals" and the funds (part of the means) of the maternity (family) capital allocated for forming of funded pension according to the Federal Law "About Additional Measures of the State Support of the Families Having Children", which are in property of fund, intended for obligation fulfillment of fund before insured persons according to agreements on mandatory pension insurance and created according to this Federal Law;

investment portfolio of fund for mandatory pension insurance (further - investment portfolio of fund) - the assets created at the expense of means of the pension accruals delivered by fund in trust management to managing company (managing companies);

investment portfolio of managing company - the assets created at the expense of means of the pension accruals received by managing company in trust management from one fund;

result of placement of pension reserves - dividends and percent (income) on securities, percent (income) on bank deposits, other income types from transactions on placement of pension reserves, net financial result from realization of assets and the net financial result reflecting change in value of pension reserves due to revaluation on reporting date. Requirements to procedure of payments of result of placement of pension reserves can be established by the Bank of Russia;

result of investment of means of pension accruals - dividends and percent (income) on securities, percent (income) on bank deposits, other income types from transactions on investment of means of pension accruals, net financial result from realization of assets and the net financial result reflecting change in value of investment portfolio due to revaluation on reporting date, and also percent for unauthorized use by means of pension accruals and the funds allocated for forming of own fund, which are subject to the translation by fund to the previous insurer in case of acceptance by the representative for the rights of consumers of financial services or court of the decision on return to the previous insurer on mandatory pension insurance of means of pension accruals in connection with not conclusion of the agreement on mandatory pension insurance on that basis that the statement of insured person for transition (the statement of insured person for early transition) from Fund of pension and social insurance of the Russian Federation to fund or from one fund in other fund and (or) the agreement on mandatory pension insurance are signed not by insured person and not his authorized representative, or in connection with recognition by court of the agreement on mandatory pension insurance not by the prisoner on other bases or invalid;

the pension accruals which are not included in reserves of fund - the means of pension accruals which are not included in reserve of fund for mandatory pension insurance, in payable reserve, in structure of means of pension accruals of insured persons which establishes due retirement benefit;

result of investment of means of the pension accruals which are not included in reserves of fund - dividends and percent (income) on securities, percent (income) on bank deposits, the income from investment of funds of the pension accruals which are not included in reserves of fund on bank accounts of fund, other income types from transactions on investment of means of the pension accruals which are not included in reserves of fund, net financial result from realization of assets and the net financial result reflecting change in value of the investment portfolio built at the expense of means of the pension accruals which are not included in reserves of fund due to revaluation on reporting date, and also percent for unauthorized use by means of pension accruals and the funds allocated for forming of own fund subject to the translation by fund to the previous insurer in case of acceptance by the representative for the rights of consumers of financial services or court of the decision on return to the previous insurer on mandatory pension insurance of means of pension accruals in connection with not conclusion of the agreement on mandatory pension insurance on the ground that the statement of insured person for transition (the statement of insured person for early transition) from Fund of pension and social insurance of the Russian Federation to fund or from one fund in other fund and (or) the agreement on mandatory pension insurance are signed not by insured person and not his authorized representative, or in connection with recognition by court of the agreement on mandatory pension insurance not by the prisoner on other bases or invalid. The procedure of payments of result of investment of means of the pension accruals which are not included in reserves of fund (including the restrictions connected taking into account securities at the cost other than market), is established by the Bank of Russia;

rules of fund - the documents determining procedure and conditions of execution by fund of obligations on pension agreements (pension rules of fund), to agreements on mandatory pension insurance (insurance rules of fund), agreements of long-term savings (the rule of forming of long-term savings of fund);

managing company - the joint-stock company, society with limited (additional) liability created in accordance with the legislation of the Russian Federation and having license for activities on management of investment funds, mutual investment funds and non-state pension funds;

specialized depositary - the joint-stock company, society with limited (additional) liability created in accordance with the legislation of the Russian Federation and having the license for implementation of depository activity and the license for activities of specialized depositary of investment funds, mutual investment funds and non-state pension funds;

the actuary - person who meets the requirements established for persons performing carrying out actuarial estimation of activities of funds according to the procedure, determined by the Bank of Russia;

authorized federal executive body (further authorized federal body) - federal executive body to which are assigned by the Government of the Russian Federation state regulation of activities of funds for non-state pension provision, mandatory pension insurance, forming of long-term savings, within the powers and functions determined by this Federal Law;

the statement of insured person - the document based on which the option is exercised by insured face of the insurer;

the investment declaration - the integral part of the trust management agreement of means of pension accruals and the trust management agreement of means of pension reserves containing specifying of the purpose of investment of means of pension accruals or investment of funds of pension reserves, the description of investment policy of managing company, the list of assets in which means of pension accruals can be invested or means of pension reserves, the description of the risks connected with such investment or placement and also requirements to structure of assets are placed;

disclosure of information by fund - ensuring availability of information to the unrestricted group of people according to the procedure guaranteeing its stay and obtaining;

provision of information by fund - the actions of fund directed to receipt of the specified information by certain group of people or its transfer to certain group of people;

distribution of information on fund - the actions directed to receipt of such information by the uncertain group of people or transfer of such information to the uncertain group of people;

funds of fees for joint financing of forming of pension accruals - the isolated part of means of the pension accruals transferred to fund by Fund of pension and social insurance of the Russian Federation according to the Federal Law "About Additional Insurance Premiums for Funded Pension and the State Support of Forming of Pension Accruals";

the funds (part of means) of the maternity (family) capital allocated for forming of funded pension - the isolated part of means of the pension accruals transferred to fund by Fund of pension and social insurance of the Russian Federation according to the Federal Law "About Additional Measures of the State Support of the Families Having Children" taking into account result of the investment of these means received by fund;

actuarial deficit - excess of actuarial cost of obligations over actuarial asset cost of fund;

payable reserve - the isolated part of means of pension accruals created according to this Federal Law for implementation of payment of funded pension;

safety of pension accruals - the requirement according to which the amount of means of pension accruals on the retirement account of funded pension of insured person for date of purpose of funded pension and (or) due retirement benefit or lump sum payment shall not be less amount of the guaranteed means, determined according to the Federal Law "About Guaranteeing the Rights of Insured Persons in System of Mandatory Pension Insurance of the Russian Federation during the Forming and Investment of Means of Pension Accruals, Establishment and Implementation of Payments at the expense of Means of Pension Accruals";

due retirement benefit - the monthly money payment established according to the procedure and conditions determined by this Federal Law and the Federal Law "About Procedure for Financing of Payments at the expense of Means of Pension Accruals";

lump sum payment - payment of means of pension accruals to the insured persons specified in article 4 of the Federal law "About Procedure for Financing of Payments at the expense of Means of Pension Accruals";

the agreement of early non-state pension provision - type of the pension agreement which compulsory provision are appointment and payment of non-state pension by fund before achievement of age, the stipulated in Clause 8 Federal Laws of December 28, 2013 No. 400-FZ "About insurance pensions", in the presence of the conditions of purpose of insurance pension on old age provided by Items 1 - 18 parts 1 of article 30 of the specified Federal Law, in connection with employment on determined by Items 1 - 18 parts 1 of article 30 of the specified Federal Law works on workplaces on working conditions by results of which special assessment of working conditions are acknowledged harmful and (or) dangerous;

the pension plan of the employer on early non-state pension provision (further - the pension plan of the employer) - the document developed, approved and registered taking into account requirements and according to the procedure which are established by this Federal Law, and the determining procedure and conditions of creation and functioning of system of early non-state pension provision at the investor who is the employer in relation to participants - to the workers occupied on workplaces on working conditions by results of which special assessment of working conditions are acknowledged harmful and (or) dangerous;

the statement of insured person for transition - the document based on which transition of insured person to fund or to Fund of pension and social insurance of the Russian Federation is performed in the year following after year in which the five-year term which is estimated since year of submission of such statement expires if after its giving the notification on refusal of change of the insurer is not submitted. The size of means of the pension accruals which are subject to transfer upon such transition is determined according to Item 2 of article 36.6-1 of this Federal Law;

the statement of insured person for early transition - the document based on which transition of insured person to fund or to Fund of pension and social insurance of the Russian Federation is performed in the year following after year of submission of such statement if after its giving the notification on refusal of change of the insurer is not submitted. The size of means of the pension accruals which are subject to transfer upon such transition is determined according to Items 3, 4 articles 36.6-1 of this Federal Law;

the notification on replacement - the document based on which insured person is notified by fund about replacement of the insurer chosen by it for mandatory pension insurance specified in the statement of insured person for transition or in the statement of insured person for early transition. The form of the notification on replacement, procedure for its direction and consideration are established by Fund of pension and social insurance of the Russian Federation;

constant component of remuneration of fund - the part of remuneration which is not depending on results of investment of funds of pension reserves or investment of means of pension accruals;

variable part of remuneration of fund - the part of remuneration depending on results of investment of funds of pension reserves or investment of means of pension accruals;

the notification on refusal of change of the insurer - the document which insured person is notified by Fund of pension and social insurance of the Russian Federation about refusal of change of the insurer on mandatory pension insurance;

the notification on prohibition - the document which insured person is notified by Fund of pension and social insurance of the Russian Federation about prohibition of consideration of the application of insured person about transition (the statement of the insured face for early transition) given any different ways of submission of the specified statements other than submission of the specified statements to territorial authority of Fund of pension and social insurance of the Russian Federation by insured person personally;

the notification on withdrawal of the notification on prohibition - the document which insured person is notified by Fund of pension and social insurance of the Russian Federation about withdrawal of earlier submitted notification on prohibition;

the personalized retirement account - type of the retirement account of non-state pension provision opened by fund concerning the certain participant;

the solidary retirement account - type of the retirement account of non-state pension provision opened by fund concerning several participants including without specifying of information about these participants;

balance on the retirement account - the amount of pension contributions, results of placement of pension reserves and the amount of warranty completions of reserves of covering of pension liabilities less accrued benefits of non-state pensions and the redemption amounts reflected in the retirement account of non-state pension provision for certain date;

warranty completion of reserves of covering of pension liabilities - replenishment of reserves of covering of pension liabilities at the expense of insurance reserve, and in case of insufficiency of the specified reserve by own fund, performed according to this Federal Law;

the agreement of long-term savings - the agreement between fund and the investor according to whom the investor shall pay savings fees to fund and fund shall perform payments to the participant in case of approach of the bases for purpose of such payments;

savings fee - the money paid by the investor for benefit of the participant in accordance with the terms of the agreement of long-term savings, and also one-time fee and the additional stimulating contribution. Under the agreement of long-term savings signed by the investor in own favor as savings fees the money paid by the employer of such investor to its advantage is also considered;

one-time fee - the funds of pension accruals transferred in structure of means of pension reserves as savings fee under the agreement of long-term savings according to article 36.12-1 of this Federal Law;

the statement for one-time fee - the document based on which the means of pension accruals insured persons are listed in structure of means of pension reserves as one-time fee under the agreement of long-term savings signed by the specified person with fund in own favor according to article 36.12-1 of this Federal Law;

the additional stimulating contribution - the means transferred from the federal budget and (or) reserve of Fund of pension and social insurance of the Russian Federation for mandatory pension insurance to fund and sent them to structure of means of pension reserves as savings fee under the agreement of long-term savings according to article 36.44 of this Federal Law;

the bases of purpose of payments for the agreement of long-term savings - the bases of acquisition by the participant of the right to payments for the agreement of long-term savings;

payments for the agreement of long-term savings - periodical payments under the agreement of long-term savings and lump sum payment under the agreement of long-term savings;

periodical payments under the agreement of long-term savings - the money which is regularly paid to the participant in accordance with the terms of the agreement of long-term savings;

lump sum payment under the agreement of long-term savings - money, lump-sum to the participant under the agreement of long-term savings in the cases provided by this Federal Law in case of approach of the bases of purpose of payments for the agreement of long-term savings;

agreement type of long-term savings - set of the terms of the contract of the long-term savings established by rules of forming of long-term savings of fund and determining payment procedure of savings fees and implementation of payments for the agreement of long-term savings;

the account of long-term savings - the analytics form in fund containing the information about participants and about investors provided by this Federal Law under agreements of long-term savings and reflecting the balance size in such account, receipt of savings fees, results of placement of pension reserves, the performed warranty completions of reserves of covering of pension liabilities, charge of payments for the agreement of long-term savings to the participant, charge of payments of the redemption amounts to the investor, participant or their legal successors, and also charge of the redemption amounts to the investor, the participant or their legal successors for transfer to other fund in case of termination of the contract of long-term savings;

balance on the account of long-term savings - the amount of savings fees, results of placement of pension reserves and the amount of warranty completions of reserves of covering of pension liabilities less the added periodical payments under the agreement of long-term savings, lump sum payment under the agreement of long-term savings and redemption amounts reflected in the account of long-term savings for certain date;

the administrator of joint financing - person perfroming calculation of the size of the additional stimulating contribution for agreements of long-term savings according to this Federal Law and rules of implementation of activities of the administrator of joint financing. Activities of the administrator of joint financing perform the legal entity to whom the status of the central depositary according to the Federal Law of December 7, 2011 is given to No. 414-FZ "About the central depositary";

the service provision agreement of the administrator of joint financing - the agreement signed between the administrator of joint financing and fund and governing their relations when rendering services by the administrator of joint financing by calculation of the size of the additional stimulating contributions for agreements of long-term savings.

Article 3.1. Subjects and participants of the relations on non-state pension provision, forming of long-term savings and mandatory pension insurance

Subjects of the relations on non-state pension provision, forming of long-term savings and mandatory pension insurance are funds, Fund of pension and social insurance of the Russian Federation, specialized depositaries, managing companies, investors, participants, insured persons and insurers.

Participants of the relations on non-state pension provision, forming of long-term savings and mandatory pension insurance are brokers, credit institutions, and also other organizations involved in process of investment of funds of pension reserves and investment of means of pension accruals.

Chapter II. Creation of fund, its state registration and licensing of activities

Article 4. Creation of fund

1. The fund can be created in form of business of joint-stock company.

2. Creation of fund by organization is performed on conditions and according to the procedure which are stipulated by the legislation the Russian Federation about joint-stock companies. Regulations of the legislation of the Russian Federation on joint-stock companies are applied to funds taking into account the features established by this Federal Law.

3. Shareholders have concerning fund certified by the stocks of the participation right owned by them in management of activities of fund, and also other rights, stipulated by the legislation the Russian Federation. The fund has the right to issue only ordinary shares.

4. The fund answers for the obligations all property belonging to it taking into account the features established by this Federal Law.

5. The fund does not answer for obligations the shareholders. Shareholders of fund bear responsibility according to its obligations in the cases established by the legislation of the Russian Federation.

6. The shares of fund placed during its creation by organization shall be completely paid by founders before giving in the Bank of Russia of the statement for provision of license for activities for provision of pensions and pension insurance.

7. The fund has no right to perform transactions with bills of exchange and to issue loans.

8. Payment of shares of fund by offsetting of monetary claims is not allowed to fund.

9. Placement of securities by fund is performed in accordance with the legislation of the Russian Federation about joint-stock companies and the legislation of the Russian Federation on the security market taking into account the features established by this Federal Law.

Article 4.1. Requirements to persons having the right to dispose of more than 10 percent of shares, constituting the authorized capital of fund

1. Person having the right directly or indirectly or together with other persons, the related property trust management agreements and (or) particular partnership, and (or) the order, and (or) the corporate agreement, and (or) other agreement which subject is implementation of the rights certified by shares of fund to dispose of more than 10 percent of shares constituting the authorized capital of fund, cannot be:

1) the legal entity who is registered in the states or in the territories which are providing preferential tax regime of the taxation and (or) not providing disclosure and provision of information when carrying out financial transactions (offshore zones) which list affirms the Ministry of Finance of the Russian Federation or is under direct or indirect control of the specified person;

2) the legal entity at whom for violation of the Federal Laws, regulations of the Bank of Russia it was withdrawn the license for activities in the financial market, or the legal entity, data on whom were excluded from the register of not credit financial credit institutions of the corresponding type for violation of the Federal Laws, regulations of the Bank of Russia, (is cancelled);

3) person which is not conforming to the requirements to financial position established by the Bank of Russia;

4) person which is not conforming to requirements to goodwill, stipulated in Item 3 articles 6.2 of this Federal Law;

5) the legal entity if person performing functions of sole executive body of such legal entity does not conform to requirements to goodwill, stipulated in Item 3 articles 6.2 of this Federal Law.

2. Assessment of conformity of person specified in Item 1 of this Article to requirements to financial position and goodwill is performed according to the procedure, established by the Bank of Russia.

Person specified in Item 1 of this Article, its sole executive body or person specified in the subitem 5 of Item 29 of article 7 of this Federal Law within 30 days from the date of when he knew of recognition to its not relevant requirements to goodwill established by this Federal Law having the right to send the claim about recognition to its not relevant requirements to goodwill to the commission of the Bank of Russia on consideration of claims (further in this Article - the commission of the Bank of Russia) according to article 60.1 of the Federal Law of July 10, 2002 No. 86-FZ "About the Central bank the Russian Federation (Bank of Russia)".

Within five working days from the date of acceptance by the commission of the Bank of Russia of the decision on grievance settlement specified in this Item, the Bank of Russia makes the decision on the cancellation of the decision on refusal in provision of prior consent (the subsequent approval) of the Bank of Russia to transaction (transactions) directed to acquisition more than 10 percent of shares of fund, and (or) the transaction (transactions) directed to establishment of control concerning shareholders of fund or about cancellation of the instruction about elimination of the violation specified in Item 3 of this Article if the specified decisions were made only based on recognition of person not to relevant requirements to goodwill concerning which person addressed with the claim. About the decisions made according to this Item the Bank of Russia no later than the working day following behind day of their acceptance sends in writing messages according to person who addressed with the specified claim, or to the relevant fund.

The person specified in Item 1 of this Article, its sole executive body or person specified in the subitem 5 of Item 29 of article 7 of this Federal Law, having the right to appeal recognition to its not relevant requirements to goodwill and the subsequent decisions of the Bank of Russia connected with it judicially only after their appeal according to the procedure provided by this Item.

3. If the fund concerning person specified in Item 1 of this Article elicits the facts of its discrepancy to requirements to goodwill or other requirements established by this Federal Law, the fund shall notify in writing on it the Bank of Russia according to the procedure, established by the regulation of the Bank of Russia.

In case of establishment of unsatisfactory financial position and (or) the facts of discrepancy to requirements to goodwill of person specified in Item 1 of this Article, the Bank of Russia in the procedure established by it sends to the specified person the instruction with the requirement about elimination of violations and (or) reduction of participation of the specified person in the authorized capital of fund to the size which is not exceeding 10 percent of shares of fund, or about elimination of violations and (or) about transaction (transactions), directed to the termination of control concerning shareholders of fund (further in this Article - the instruction of the Bank of Russia), and posts on the official site of the Bank of Russia on the Internet information on the directed instruction of the Bank of Russia no later than day of its direction. Copies of the instruction of the Bank of Russia go to fund, and also to other persons whose list is determined by the regulation of the Bank of Russia.

The fund no later than the day following behind day of receipt of the copy of the instruction of the Bank of Russia shall inform the shareholders information on the receipt of the copy of the instruction of the Bank of Russia according to the procedure provided by the regulation of the Bank of Russia.

Person specified in this Item shall perform the instruction of the Bank of Russia in the time specified in it and no later than five days from the date of execution of the instruction of the Bank of Russia to notify on it fund and the Bank of Russia according to the procedure, established by the regulation of the Bank of Russia.

The instruction of the Bank of Russia is subject to cancellation by the Bank of Russia in case of accomplishment of the requirements specified in it. The act of the Bank of Russia of cancellation of the instruction of the Bank of Russia goes to the persons who received the instruction of the Bank of Russia. Copies of the act of cancellation of the instruction of the Bank of Russia go to the persons who received copies of the instruction of the Bank of Russia. The form and procedure for the direction of the instruction of the Bank of Russia and the act of cancellation of the instruction of the Bank of Russia are established by the regulation of the Bank of Russia. Information on cancellation of the instruction of the Bank of Russia is placed no later than day of the direction of the act of cancellation of the instruction of the Bank of Russia on the official site of the Bank of Russia on the Internet according to the procedure established by the Bank of Russia.

The fund no later than the day following behind day of receipt of the copy of the act of cancellation of the instruction of the Bank of Russia shall inform the shareholders information on the receipt of the specified copy of the instruction according to the procedure provided by the regulation of the Bank of Russia.

In case of non-execution of the instruction of the Bank of Russia by person specified in this Item the Bank of Russia has the right to require judicially the termination of the right to dispose directly or indirectly of more than 10 percent of shares, constituting the authorized capital of fund (reduction of share of participation of the specified person in the authorized capital of fund to the size which is not exceeding 10 percent of shares of fund or the termination of control concerning shareholders of fund).

4. From the date of placement on the official site of the Bank of Russia on the Internet according to Item 3 of this Article of information on the directed instruction of the Bank of Russia and about day of placement of information on its cancellation person specified in Item 3 of this Article has the right to vote only according to shares of fund in the quantity which is not exceeding 10 percent of shares, constituting the authorized capital of fund. At the same time other shares belonging to this person, voting are not and in case of determination of quorum of general meeting of shareholders of fund are not considered. The restriction set by this Item does not extend to cases if the protocol of general meeting of shareholders of fund is constituted in day of placement by the Bank of Russia of information on the directed instruction of the Bank of Russia or earlier specified day.

The Bank of Russia within one year from the date of the direction of the instruction of the Bank of Russia specified in Item 3 of this Article having the right to appeal judicially the decisions of general meeting of shareholders of fund made with violation of the requirements established by this Item and the transaction (transactions) made in pursuance of the specified decisions if participation in vote by the shares specified in this Item influenced the decisions made by general meeting of shareholders of fund.

5. The fund shall observe the procedure for submission to the Bank of Russia established by the Bank of Russia and disclosures to the unrestricted group of people of information on structure and the list of the shareholders, including about persons, under control or considerable influence of which there is fund.

Article 5. State registration of fund

1. The fund is subject to state registration according to the Federal Law of August 8, 2001 No. 129-FZ "About state registration of legal entities and individual entrepreneurs" taking into account the features established by this Federal Law.

2. The decision on state registration of fund during its creation, including by reorganization, about state registration of the changes made to the fund charter or about state registration in case of liquidation of fund is accepted by the Bank of Russia in the procedure established by it. Along with decision making about state registration of again created Bank of Russia fund performs state registration of share issue of fund.

3. Entering into the Unified State Register of Legal Entities of data on creation, reorganization and liquidation of fund, data on introduction of amendments to the fund charter is performed by authorized registering body based on the decision of the Bank of Russia specified in Item 2 of this Article, and entering into the Unified State Register of Legal Entities of other data which are subject to entering into the specified register is performed by authorized registering body based on the notification of the Bank of Russia. The documents necessary for entering into the Unified State Register of Legal Entities of the data provided by this Item are submitted within the Bank of Russia within the terms provided by the Federal Law of August 8, 2001 No. 129-FZ "About state registration of legal entities and individual entrepreneurs".

4. Interaction of the Bank of Russia with authorized registering body concerning state registration of funds is performed according to the procedure, approved by the Bank of Russia with authorized registering body.

5. The Bank of Russia keeps the book of state registration of fund according to the procedure, established by regulations of the Bank of Russia.

6. Ceased to be valid according to the Federal Law of the Russian Federation of 21.07.2014 No. 218-FZ

7. Ceased to be valid according to the Federal Law of the Russian Federation of 21.07.2014 No. 218-FZ

Article 6. Constituent documents of fund

1. The constituent document of fund is the fund charter. The fund charter affirms his founders (the founder.

2. In addition to the data provided by the Federal Law of December 26, 1995 No. 208-FZ "About joint-stock companies" the fund charter shall contain:

1) the full trade name of fund containing words "non-state pension fund", and the reduced trade name of fund containing abbreviation of "NPF";

2) ceased to be valid according to the Federal Law of the Russian Federation of 27.01.2023 No. 5-FZ

3) ceased to be valid according to the Federal Law of the Russian Federation of 10.07.2023 No. 299-FZ

4) specifying on forming of the board of trustees of fund with inclusion in its list of investors, participants and insured persons (their representatives).

Article 6.1. Requirements to the authorized capital and own fund

1. The minimum size of the authorized capital of fund shall constitute at least 120 million rubles, and since January 1, 2020 - at least 150 million rubles.

2. In case of adoption by fund of the decision on reduction of its authorized capital of person before which the fund performs duties under pension agreements, agreements of long-term savings, agreements on mandatory pension insurance managing companies of this fund, its specialized depositary, auditing organization, the actuary and contractors of services in maintaining retirement accounts, accounts of long-term savings are not creditors of fund for the purpose of application of provisions of the legislation of the Russian Federation on joint-stock companies about protection of the rights of creditors in case of reduction of the authorized capital of joint-stock company.

3. The minimum size of own fund calculated according to the procedure, established by the Bank of Russia, shall constitute at least 150 million rubles, and since January 1, 2020 - at least 200 million rubles.

Article 6.2. Requirements to governing bodies of fund and its officials

1. Functions of sole executive body, the member of collegiate executive body, the controller (head of internal control) and the chief accountant of fund are performed by the persons which are on the staff of fund and who are not in combination or on other basis employees of the organizations with whom the fund signs the property trust management agreement of fund, the service provision agreement of specialized depositary, the contract for carrying out audit inspection or the contract for evaluating property of fund.

2. Person performing functions of sole executive body, his deputy, the member of collegiate executive body, the chief accountant, the deputy chief accountant of fund, the head and the chief accountant of branch of fund, the controller (head of internal control), the official responsible for the organization of risk management system (the head of the separate structural division responsible for the organization of risk management system), the special official responsible for implementation of rules of internal control in fund for the purpose of counteraction of legalization (washing) of income gained in the criminal way, to financing of terrorism and financing of distribution of weapons of mass destruction, the board member (supervisory board) of fund, and also person for which according to this Federal Law or the regulation of the Bank of Russia adopted according to it availability of the competence certificate is obligatory, shall conform to qualification requirements and requirements to goodwill.

3. As discrepancy of person to requirements to goodwill it is understood:

1) availability for the day preceding day of appointment (election) to position or to day of giving in the Bank of Russia of the statement for approval of candidate at person (except for the candidate for position of the special official responsible for implementation of rules of internal control in fund for the purpose of counteraction of legalization (washing) of income gained in the criminal way, to financing of terrorism and financing of distribution of weapons of mass destruction) not removed or unspent conviction for making of intentional crime;

2) availability of conviction of court against person (except for the candidate for position of the special official responsible for implementation of rules of internal control in fund for the purpose of counteraction of legalization (washing) of income gained in the criminal way, to financing of terrorism and financing of distribution of weapons of mass destruction) who committed intentional crime without appointment to it punishments in view of lapse of time of criminal prosecution if for the day preceding day of appointment (election) of person to position or to day of giving in the Bank of Russia of the statement for approval of candidate five-year term from the date of entry into force of conviction did not expire;

3) availability the determined Bank of Russia of the fact of non-execution by person which was sole executive body, his deputy, the board member (supervisory board), the member of collegiate executive body, the founder (the shareholder, the participant) of credit institution or not credit financial credit institution (further in case of joint mentioning - the financial organization) the obligations assigned to it by the Federal Law of October 26, 2002 No. 127-FZ "About insolvency (bankruptcy)" in case of the bases for implementation of measures for the prevention of bankruptcy of the financial organization and (or) in case of signs of insolvency (bankruptcy) of the financial organization within five years preceding day of appointment (election) to position or to day of giving in the Bank of Russia of the statement for approval of candidate;

4) involvement of person according to the court resolution which took legal effect to subsidiary responsibility according to obligations of the financial organization or to responsibility in the form of claiming damages for benefit of the financial organization according to the Federal Law of October 26, 2002 No. 127-FZ "About insolvency (bankruptcy)" if for the day preceding day of appointment (election) of person to position or to day of giving in the Bank of Russia of the statement for approval of candidate five-year term from the date of the introduction in legal force of court resolution did not expire;

5) recognition of physical person by the bankrupt if for the day preceding day of appointment (election) of person to position or to day of giving in the Bank of Russia of the statement for approval of candidate five-year term from the date of completion concerning this person of the procedure of realization of property or suit abatement about bankruptcy did not expire during such procedure;

6) recognition of person performing business activity without formation of legal entity, the bankrupt if for the day preceding day of appointment (election) of person to position or to day of giving in the Bank of Russia of the statement for approval of candidate five-year term from the date of completion concerning this person of the procedure of realization of property or suit abatement about bankruptcy did not expire during such procedure;

7) availability at person within five years preceding day of appointment (election) to position or to day of giving in the Bank of Russia of the statement for approval of candidate, the rights to give obligatory instructions or opportunities otherwise to determine actions of the financial organization (irrespective of the term during which person had such rights or potential) which was declared by Arbitration Court bankrupt (except for case if person produced in the Bank of Russia the evidence of non-participation in decision making or making of actions (failure to act) which led to recognition of the financial organization by Arbitration Court by the bankrupt);

8) presentation within five years preceding day of appointment (election) of person to position or to day of giving in the Bank of Russia of the statement for approval of candidate to the financial organization in which person performed functions of sole executive body, his deputy, the member of collegiate executive body, the chief accountant or the deputy chief accountant of the financial organization, the head or the chief accountant of branch of the financial organization, the head of service of risk management, the internal auditor (the head of service of internal audit), the controller (head of internal control), the special official responsible for implementation of rules of internal control in the financial organization for the purpose of counteraction of legalization (washing) of income gained in the criminal way, to financing of terrorism and financing of distribution of weapons of mass destruction or the board member (supervisory board) of the financial organization, the requirement about replacement of the specified person based on Article part four 60, Articles 74, 76.9-1 and 76.9-3 Federal Laws of July 10, 2002 No. 86-FZ "About the Central bank the Russian Federation (Bank of Russia)";

9) implementation by person of functions (irrespective of the term during which it performed them) sole executive body, his deputy, the member of collegiate executive body, the chief accountant or the deputy chief accountant of the financial organization, the head or the chief accountant of branch of the financial organization, the head of service of risk management, the internal auditor (the head of service of internal audit), the controller (head of internal control), the special official responsible for implementation of rules of internal control in the financial organization for the purpose of counteraction of legalization (washing) of income gained in the criminal way, to financing of terrorism and financing of distribution of weapons of mass destruction, or the board member (supervisory board) of the financial organization within 12 months the measures for the prevention of bankruptcy of the financial organization preceding day of adoption by the Bank of Russia of the decision on implementation (except for implementation of the specified measures concerning credit institution with participation of the Bank of Russia or the "Deposit Insurance Agency" state corporation) if such decision was made by the Bank of Russia within five years preceding day of appointment (election) of person to position or to day of giving in the Bank of Russia of the statement for approval of candidate (except for case if person produced in the Bank of Russia the evidence of non-participation in decision making or making of actions (failure to act) which led to emergence of the bases for implementation of the specified measures);

10) implementation by person of functions (irrespective of the term during which it performed them) sole executive body, his deputy, the member of collegiate executive body, the chief accountant or the deputy chief accountant of credit institution, the head or the chief accountant of branch of credit institution, the head of service of risk management, the head of service of the internal audit, the head of internal control, the special official responsible for implementation of rules of internal control in credit institution for the purpose of counteraction of legalization (washing) of income gained in the criminal way, to financing of terrorism and financing of distribution of weapons of mass destruction, or the board member (supervisory board) of credit institution within 12 months the measures for the prevention of bankruptcy of credit institution preceding day of adoption by the Bank of Russia of the decision on implementation with participation of the Bank of Russia based on the Bank of Russia of the plan of participation of the Bank of Russia in implementation of measures for the prevention of bankruptcy or the "Deposit Insurance Agency" state corporation approved by the Board of directors based on the plan of participation of the "Deposit Insurance Agency" state corporation in implementation of measures for the prevention of bankruptcy approved by the Bank of Russia if such decision was made by the Bank of Russia within five years preceding day of appointment (election) of person to position or to day of giving in the Bank of Russia of the statement for approval of candidate (except for case if person produced in the Bank of Russia the evidence of non-participation in decision making or making of actions (failure to act) which led to emergence of the bases for implementation of the specified measures);

11) implementation by person of functions (irrespective of the term during which it performed them) sole executive body, his deputy, the member of collegiate executive body, the chief accountant or the deputy chief accountant of the financial organization, the head or the chief accountant of branch of the financial organization, the head of service of risk management, the internal auditor (the head of service of internal audit), the controller (head of internal control), the special official responsible for implementation of rules of internal control in the financial organization for the purpose of counteraction of legalization (washing) of income gained in the criminal way, to financing of terrorism and financing of distribution of weapons of mass destruction, or the board member (supervisory board) of the financial organization within 12 months the transactions preceding day of response (cancellation) for violation of the law of the Russian Federation at the financial organization of the license for implementation corresponding to type of activity of the financial organization, or day of exception of the financial organization of the corresponding register for violation of the law of the Russian Federation if for the day preceding day of appointment (election) of person to position or to day of giving in the Bank of Russia of the statement for approval of candidate five-year term from the date of withdrawal (cancellation) of the license for implementation of the transactions corresponding to type of activity of the financial organization, or day of exception of the financial organization of the corresponding register (except for case did not expire if person produced in the Bank of Russia the evidence of non-participation in decision making or making of actions (failure to act) which brought to specified to withdrawal (cancellation) of the license for implementation of transactions, corresponding to type of activity of the financial organization, or exception of the financial organization of the corresponding register);

12) involvement of the person two and more time within three years preceding day of appointment (election) to position or to day of giving in the Bank of Russia of the statement for approval of candidate according to the court resolution which took legal effect to the administrative responsibility for wrongful acts in case of bankruptcy of the legal entity, deliberate and (or) dummy bankruptcy of the legal entity (except as specified if such administrative offense entailed administrative punishment in the form of the prevention);

13) involvement of person according to the court resolution which took legal effect to criminal liability for wrongful acts in case of bankruptcy of the legal entity, deliberate and (or) dummy bankruptcy of the legal entity if for the day preceding day of appointment (election) to position or to day of giving in the Bank of Russia of the statement for approval of candidate five-year term from the date of entry into force of court resolution did not expire;

14) availability at person within five years preceding day of appointment (election) to position or to day of giving in the Bank of Russia of the statement for approval of candidate, the rights to give obligatory instructions or opportunities otherwise to determine actions (irrespective of the term during which person had such rights or potential) credit institution from which the license for banking operations was revoked on the bases provided by Items 1, of 2, 4 parts two of article 20 of the Federal law "About Banks and Banking Activity" or not credit financial credit institution from which the license was revoked it (is cancelled) for violation of the legislation of the Russian Federation by it or which was excluded from the corresponding register for violation of the legislation of the Russian Federation by it if the availability fact at person such the rights or opportunities took place within 12 months, the faces preceding day of response (cancellation) of the license or day of exception of the corresponding register, except for which produced the evidence of non-participation in decision making or making of actions (failure to act) which led to the specified withdrawals (cancellation) of the license or exception of the corresponding register. Such proof for person who was the board member (supervisory board) is that he voted against the solution of the board of directors (supervisory board) of the financial organization or, being effective honesty, did not take part in vote which could entail the licenses specified response (cancellation) or exception of the corresponding register, and sent information on it to the Bank of Russia. Such information goes to the Bank of Russia according to the procedure, established by the regulation of the Bank of Russia, in time, not exceeding 15 days from the date of acceptance by the board of directors (supervisory board) of the financial organization of the relevant decision;

15) committing by person (except for the candidate for position of the special official responsible for implementation of rules of internal control in fund for the purpose of counteraction of legalization (washing) of income gained in the criminal way, to financing of terrorism and financing of distribution of weapons of mass destruction) more than three times within one year preceding day of appointment (election) to position or to day of giving in the Bank of Russia of the statement for approval of candidate, administrative offense in the field of business activity or in the field of finance, taxes and fees, insurance of the security market established by the judge's ruling which took legal effect, body, the official of representatives to consider cases on administrative offenses;

16) disqualification of person which term did not expire for the day preceding day of appointment (election) to position or to day of giving in the Bank of Russia of the statement for approval of candidate;

17) implementation by person of functions (irrespective of the term during which it performed them) sole executive body, his deputy, the member of collegiate executive body, the chief accountant or the deputy chief accountant of the financial organization, the head or the chief accountant of branch of the financial organization, the head of service of risk management, the controller (head of internal control), the internal auditor (the head of service of internal audit), the special official responsible for implementation of rules of internal control in the financial organization for the purpose of counteraction of legalization (washing) of income gained in the criminal way, to financing of terrorism and financing of distribution of weapons of mass destruction, or the board member (supervisory board) within 12 months the powers of executive bodies preceding day of appointment according to the decision of the Bank of Russia of temporary administration on management of the financial organization with suspension if such decision was made by the Bank of Russia within five years preceding day of appointment (election) to position or to day of giving in the Bank of Russia of the statement for approval of candidate (except for persons who produced in the Bank of Russia the evidence of non-participation in decision making or making of actions (failure to act) who led to appointment of temporary administration);

18) termination fact availability with person of the employment contract at the initiative of the employer on the bases provided by Items 7 or 7.1 of part one of article 81 of the Labor Code of the Russian Federation if for the day preceding day of appointment (election) to position or to day of giving in the Bank of Russia of the statement for approval of candidate three-year term from the date of termination of such employment contract did not expire;

19) provision by person within five years preceding day of its appointment (election) to position or to day of giving in the Bank of Russia of the statement for approval of candidate, obviously false information on the compliance to the qualification requirements and (or) requirements to goodwill established by the Federal Laws regulating activities of the financial organizations and (or) on observance of the restrictions set by the specified Federal Laws concerning persons holding positions in the financial organizations if such data could have significant effect on the decision of the Bank of Russia for which acceptance the specified data were represented;

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