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FEDERAL LAW OF THE RUSSIAN FEDERATION

of July 27, 2010 No. 208-FZ

About consolidated financial statements

(The last edition from 27-12-2018)

Accepted by the State Duma of the Russian Federation on July 7, 2010

Approved by Council of the Russian Federation on July 14, 2010

Article 1. The relations regulated by this Federal Law

1. This Federal Law establishes general requirements to creation, representation and disclosure of consolidated financial statements by the legal entity created in accordance with the legislation of the Russian Federation (further also - the organization).

2. For the purposes of this Federal Law the consolidated financial statements are understood as the systematized information reflecting financial position, financial results of activities and change of financial position of the organization which together with other organizations and (or) the foreign organizations according to International accounting standards (further - IFRS) is determined as group.

Article 2. Coverage of this Federal Law

1. This Federal Law extends:

1) on credit institutions;

2) on insurance companies (except for the medical insurance companies performing activities only in the sphere of compulsory medical insurance);

3) on non-state pension funds;

4) on managing companies of investment funds, mutual investment funds and non-state pension funds;

5) on the clearing organizations;

6) on the federal state unitary enterprises which list affirms the Government of the Russian Federation;

7) on joint-stock companies which shares are in federal property and which list affirms the Government of the Russian Federation;

8) on other organizations which securities are admitted to organized trading by their inclusion in the quoted list, except for specialized societies and mortgage agents.

2. If the Federal Laws provide creation, and (or) representation, and (or) disclosure of consolidated financial statements (summary accounting records, the summary (consolidated) reporting and balance) or if constituent documents of the organization which is not specified regarding 1 this Article provide representation and (or) the publication of consolidated financial statements, such reporting is constituted according to this Federal Law.

3. Voided according to the Federal Law of the Russian Federation of 23.07.2013 No. 251-FZ.

4. Voided according to the Federal Law of the Russian Federation of 23.07.2013 No. 251-FZ.

5. This Federal Law is applied also in case of creation, representation and disclosure of the financial reporting by the organizations which do not create the group specified regarding the 2nd article 1 of this Federal Law (except for banks with the basic license). In the name of such financial reporting the word "consolidated" is not used.

6. This Federal Law does not extend to the organizations of public sector.

7. This Federal Law is not applied to the consolidated (summary) budget reports, the summary reporting of the public (municipal) institutions created according to the budget legislation of the Russian Federation.

Article 3. Creation of consolidated financial statements

1. The consolidated financial statements are constituted according to IFRS.

2. The consolidated financial statements of the organization are constituted along with accounting (financial), the reporting of this organization constituted according to the Federal Law of December 6, 2011 No. 402-FZ "About financial accounting".

3. IFRS and Explanations of IFRS accepted by Fund of International accounting standards and recognized according to the procedure, established taking into account requirements of the legislation of the Russian Federation by the Government of the Russian Federation in coordination with the Central bank of the Russian Federation are in the territory of the Russian Federation applied.

4. The accounting period for annual consolidated financial statements (accounting year) is calendar year from January 1 to December 31 inclusive.

5. Constituent documents of the organizations which are not the organizations specified in Items 1 - 7 parts 1 of article 2 of this Federal Law, and (or) parent organizations of bank holdings, can be established other start and end dates of accounting year provided that its duration is equal to duration of calendar year. This provision is not applied if other Federal Laws provide that the accounting period for annual consolidated financial statements of the organization is calendar year and (or) the consolidated financial statements are part of the annual statement of the organization.

6. First accounting year for annual consolidated financial statements of the organization the period from the date of its state registration till December 31 of the same calendar year inclusive is. If constituent documents of the organization establish other end date of accounting year, first accounting year for annual consolidated financial statements of such organization the period from the date of its state registration on the end date of accounting year established by constituent documents of the organization, inclusive is. The organizations, except for the organizations specified in Items 1 - 5 parts 1 of article 2 of this Federal Law, and the organizations which are parent organizations of bank holdings, having the right not to constitute consolidated financial statements for the first accounting year if period duration from the date of their state registration on end date of accounting year inclusive less than 90 days.

7. The accounting period for intermediate consolidated financial statements is the period from start date of accounting year on reporting date of the period for which the intermediate consolidated financial statements, inclusive are constituted. The first accounting period for intermediate consolidated financial statements is the period from the date of state registration of the organization on reporting date of the period for which the intermediate consolidated financial statements, inclusive are constituted.

Article 4. Submission of consolidated financial statements

1. The annual consolidated financial statements are submitted to participants (shareholders, founders) or owners of property of the organization. The specified reporting, except for the reporting of the organizations specified in Items 6 - 8 parts 1 of article 2 of this Federal Law if other is not provided by part 7.1 of this Article, is also submitted in the Central bank of the Russian Federation.

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