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ORDER OF THE GOVERNMENT OF THE RUSSIAN FEDERATION

of March 16, 1999 No. 291

About procedure for provision by the Central depositary - the Central fund of storage and information processing of the stock market of the documents confirming the rights to securities which are stored or it is right on which are considered in national depositary system

According to the Presidential decree of the Russian Federation of September 16, 1997 N 1034 "About providing the rights of investors and shareholders to securities in the Russian Federation" the Government of the Russian Federation decides:

1. Approve the enclosed Regulations on provision by the Central depositary - the Central fund of storage and information processing of the stock market (further hereinafter is referred to as - the Central depositary) the documents confirming the rights to securities which are stored or it is right on which are considered in national depositary system.

2. Determine that the Central depositary has no right to disclose data on condition of accounts of owners and other legal owners of securities, and also data on specific security transactions received by it as a result of implementation of collection, processing and storage of information of the stock market, except as specified, stipulated by the legislation the Russian Federation.

 

Prime Minister

Russian Federation E. Primakov

Approved by the order of the Government of the Russian Federation of March 16, 1999 No. 291

Regulations on provision by the Central depositary - the Central fund of storage and information processing of the stock market of the documents confirming the rights to securities which are stored or it is right on which are considered in national depositary system

1. This Provision determines conditions of provision by the Central depositary - the Central fund of storage and information processing of the stock market (further hereinafter is referred to as - the Central depositary) the documents confirming the rights to securities which are stored in national depositary system or is right on which are considered in national depositary system (further imenuyutsyadokument), on requests of courts, federal bodies of the government, public authorities of subjects of the Russian Federation, the local government bodies authorized on receipt of such documents, and owners of securities.

2. Provision of documents by the Central depositary is its special powers and cannot be transferred to any person or body.

3. By preparation of documents the Central depositary can use only those information which was provided by issuers of securities, registrars and participants of national depositary system, and also was registered by the Central depositary according to the procedure, established by standards of national depositary system.

4. The documents issued by the Central depositary do not require the notarial certificate or state registration for confirmation of the rights to securities. The specified documents can be challenged judicially.

5. The documents provided by the Central depositary confirm:

property right, including common property, or other corporeal right to securities;

the pledge right including which arose in connection with the subsequent pledge of securities.

Also other rights performed according to the law, the agreement or other lawful basis concerning the securities belonging to their owners or other legal owners including the rights belonging to the trustee securities or to the nominee holder of securities can be confirmed by the documents provided by the Central depositary.

6. Documents are issued by the Central depositary based on the request constituted by courts, federal bodies of the government, public authorities of subjects of the Russian Federation, local government bodies within the powers assigned to them and also the owner of securities.

7. The appeal of the owner of securities (plenipotentiary) to the Central depositary with request about provision to it the document is allowed in case:

receipts of unreasonable refusal by it in provision of the document by depositary - the participant of national depositary system performing storage of the securities belonging to the owner or accounting of the rights to such securities;

intentional or accidental loss or misstatement of information on the account of "depot" of the owner by depositary - the participant of national depositary system performing storage of the securities belonging to the owner or accounting of the rights to such securities;

obtaining by the owner from depositary - the participant of national depositary system performing storage of the securities belonging to the owner or accounting of the rights to such securities, the document containing the untrue data on amount and on limits of implementation by the owner of the rights concerning the securities belonging to it or about such securities;

availability between the Central depositary and the owner, including the nonresident, agreements that provision to the owner of documents will be performed by directly Central depositary.

8. Provision by the Central depositary of the documents confirming the rights to securities, to their owners (plenipotentiaries), courts, federal bodies of the government to public authorities of subjects of the Russian Federation and local government bodies is performed without collection of payment.

9. Requests of courts about provision of documents are constituted and go to the Central depositary according to the rules provided by the civil procedural and arbitral procedural legislation of the Russian Federation.

Requests of courts, federal bodies of the government, public authorities of subjects of the Russian Federation and local government bodies, and also the owner of securities go to the Central depositary in writing. The request shall be signed by his sender - the head of the organization (person, it replacing) or the owner of securities.

10. The inquiry is sent to the Central depositary by the registered mail, with use of express communication or otherwise, providing provision to the Central depositary of authentic copy of request. Use of means of fax, cable or other connection is not allowed.

11. The inquiry sent to the Central depositary shall contain the following data:

name (name), location (residence) of the sender;

basis for sending an inquiry;

reference number of request on accounting in internal clerical work of the sender;

date of sending an inquiry in the Central depositary, and if necessary - and the exact time.

12. In the inquiry sent to the Central depositary by federal body of the government, public authority of the subject of the Russian Federation or local government body there shall be reference to the corresponding norm of the law or other regulatory legal act determining power of the specified body.

To the inquiry sent to the Central depositary by the owner of securities it shall be attached refused by it from depozitariyauchastnik national depositary systems in provision of the document or the document containing the untrue data.

13. The central depositary shall solve the query received by it no later than three days from the date of receipt of request in time. When in requests of courts other term is established, the request is subject to execution in this time.

14. Issue of the document is performed directly in the Central depositary.

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