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of November 21, 2011 No. 325-FZ

About the organized biddings

(The last edition from 03-08-2018)

Accepted by the State Duma on November 2, 2011

Approved by the Federation Council on November 9, 2011

Chapter 1. General provisions

Article 1. Scope of this Federal Law

1. This Federal Law governs the relations arising at the organized biddings in the commodity and (or) financial markets, establishes requirements to organizers and participants of such biddings, determines bases of state regulation of the specified activities and control of its implementation.

2. Operation of this Federal Law does not extend to the relations arising in case of the conclusion of agreements by tendering in the form of auction or tender in accordance with the legislation of the Russian Federation and also to the relations in the wholesale market of electrical energy (capacity) regulated by the Federal Law of March 26, 2003 No. 35-FZ "About power industry".

Article 2. The basic concepts used in this Federal Law

1. In this Federal Law the following basic concepts are used:

1) the exchange biddings - the organized auction held by the exchange;

2) internal control - control of the organizer of trade of compliance of the activities performed by it based on the license of the exchange or the license of trade system, to requirements of the Federal Laws and the regulations adopted according to them, rules of the organized biddings, and also constituent documents and other documents of the organizer of trade;

3) the request - the offer and (or) adoption of the offer to sign one or several agreements at the organized biddings;

4) the controlling person - person having the right directly or indirectly (through persons under control to it) to dispose owing to participation in controlled organization and (or) based on property trust management agreements, and (or) particular partnership, and (or) the order, and (or) the shareholders' agreement, and (or) other agreement which subject is implementation of the rights certified by shares (shares) of controlled organization, more than 50 percent of votes in the supreme body of management of controlled organization or the right to appoint (to elect) sole executive body and (or) more than 50 percent of structure of collegiate organ of management of controlled organization;

5) the market maker - the bidder who based on the agreement, one of the parties of which is the organizer of trade assumes liabilities on maintenance of the prices, demand, the offer and (or) the trading volume financial instruments, foreign currency and (or) goods on the conditions established by such agreement;

6) the organizer of trade - person rendering services in carrying out the organized biddings in the commodity and (or) financial markets based on the license of the exchange or the license of trade system;

7) the organized biddings - the auction held on regular basis on the statutory rules providing procedure for the admission of persons to participation in the biddings for the conclusion them purchase and sale agreements of the goods, securities, foreign currency, repurchase agreements and agreements which are derivative financial instruments;

8) under control person (controlled organization) - the legal entity who is under direct or indirect control of the controlling person;

9) goods - the things which are not withdrawn from circulation (except for securities, foreign currency) certain sort and quality, any aggregate state admitted to organized trading;

10) the bidder - person who is allowed to participation in the organized biddings;

11) the financial organization - the professional participant of the security market, the clearing organization, managing company of investment fund, mutual investment fund and non-state pension fund, specialized depositary of investment fund, mutual investment fund and non-state pension fund, joint-stock investment fund, credit institution, insurance company, non-state pension fund, the organizer of trade.

2. The terms "central partner", "clearing broker", "operator of commodity deliveries" and "rules of clearing" are used in this Federal Law in the value determined by the Federal Law of February 7, 2011 No. 7-FZ "About clearing, clearing activities and the central partner" (further - the Federal Law "About Clearing, Clearing Activities and the Central Partner"). The term "authorized bank" is used in this Federal Law in the value determined by the Federal Law of December 10, 2003 No. 173-FZ "About currency control and currency exchange control".

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