FEDERAL LAW OF THE RUSSIAN FEDERATION

of November 21, 2011 No. 325-FZ

About the organized biddings

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, the foreign insurance company having the right according to the Law of the Russian Federation of November 27, 1992 No. 4015-1 "About the organization of insurance case in the Russian Federation" to perform activities in the territory of the Russian Federation, 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".

Article 3. The service provision agreement on carrying out the organized biddings

1. According to the service provision agreement on carrying out the organized biddings the organizer of trade shall according to rules of the biddings regularly (systematically) render services in carrying out the organized biddings, and bidders shall pay the specified services. Fee is not performed in the cases established by the Federal Laws.

2. The conclusion of the service provision agreement on carrying out the organized biddings is performed by accession to the specified agreement which conditions are provided by rules of the organized biddings.

3. The organizer of trade has the right to refuse agreement performance about rendering services in carrying out the organized biddings with the bidder in case of violation by such bidder of requirements imposed by rules of the organized biddings to bidders. At the same time indemnification, connected with such refusal, the organizer of trade to the bidder is not performed.

Article 4. Rules of the organized biddings

1. The organizer of trade has the right to hold the organized auction on condition of registration of rules of the organized biddings in the Central bank of the Russian Federation (further - the Bank of Russia).

2. The organizer of trade has the right to hold the organized auction on trade (exchange) sections depending on groups (categories) of bidders, and (or) types of the signed agreements, and (or) subjects of the agreements signed at the biddings, and (or) from other bases established by rules of the organized biddings. In this case the organizer of trade has the right to approve separate rules of the organized biddings for each trade (exchange) section.

3. Shall contain in rules of the organized biddings:

1) requirements to bidders;

2) requirements to methods and to frequency of identification of bidders;

3) specifying of time or procedure for determination of time of tendering;

4) procedure for the admission of persons to participation in the organized biddings;

5) procedure for the admission (the termination of the admission) of goods and (or) foreign currency to the biddings;

6) the bases and procedure for the beginning, suspension or termination of the conclusion of the agreements which are derivative financial instruments, repurchase agreements;

7) rules of listing (delisting) of securities;

8) procedure and conditions of submission of requests, including requests in which the clearing broker is specified;

9) procedure for establishment of compliance of requests each other, including signs by which this compliance is determined, and procedure for fixing of such compliance;

10) the name of the clearing organization if following the results of the organized biddings clearing is performed;

11) specifying on the fact that clearing following the results of the organized biddings is performed without participation of the central partner and (or) with participation of the central partner, and also the name of person performing functions of the central partner;

12) procedure for the conclusion at the organized biddings of agreements, including contracts with participation of the central partner;

13) specifying of consequences of submission of requests and the conclusion of contracts at the organized biddings with abuse of regulations of the organized biddings, including as a result of failures and (or) errors of program technical means, failures in operation of information and communication means of communication by means of which carrying out the organized biddings is provided;

14) specifying of cases and procedure for suspension, termination and renewal of the organized biddings;

15) requirements to market makers and procedure them the functions and obligations if accomplishment of functions and obligations by market makers is provided by rules of the organized biddings;

16) other provisions according to this Federal Law.

4. Specified in Items 5 - 7 parts 3 of this Article of provision join in rules of the organized biddings if the organizer of trade performs or intends to perform the organized biddings respectively goods, securities, foreign currency, and also the biddings at which the contracts which are derivative financial instruments are signed.

5. Rules of the organized biddings can contain in one or several documents of the organizer of trade.

6. Rules of the organized biddings may contain the provisions which are not provided by this Federal Law not contradicting this Federal Law and regulations of the Bank of Russia.

7. According to the procedure, provided by rules of the organized biddings, also other contracts which are not specified in Item 7 of part 1 of article 2 of this Federal Law can be signed.

8. Organizers of trade have the right to make changes to rules of the organized biddings unilaterally.

9. Rules of the organized biddings and the changes made to them are subject to registration in the Bank of Russia.

10. Rules of the organized biddings and the changes made to them become effective not earlier than in five days after day of disclosure of information on it according to article 22 of this Federal Law if other term of entry into force is not determined by the organizer of trade according to this Federal Law. The changes of rules of the organized biddings connected with exception of the specified rules of provisions of the arbitration agreement or change of reference tribunal become effective not earlier than in three months after day of disclosure of information on it according to article 22 of this Federal Law.

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