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Ministry of Justice

Russian Federation

On December 16, 2015 No. 40137

PROVISION OF CENTRAL BANK OF THE RUSSIAN FEDERATION

of November 13, 2015 No. 503-P

About procedure for opening and maintaining by depositaries custody accounts and other accounts

(as amended on 28-11-2019)

This Provision based on Item 5 of article 8.2 of the Federal Law of April 22, 1996 No. 39-FZ "About the security market" (The Russian Federation Code, 1996, No. 17, Art. 1918; 2001, No. 33, Art. 3424; 2002, No. 52, Art. 5141; 2004, No. 27, Art. 2711; No. 31, Art. 3225; 2005, No. 11, Art. 900; No. 25, Art. 2426; 2006, No. 1, Art. 5; No. 2, Art. 172; No. 17, Art. 1780; No. 31, Art. 3437; No. 43, Art. 4412; 2007, No. 1, Art. 45; No. 18, Art. 2117; No. 22, Art. 2563; No. 41, Art. 4845; No. 50, Art. 6247; 2008, No. 52, Art. 6221; 2009, No. 1, Art. 28; No. 18, Art. 2154; No. 23, Art. 2770; No. 29, Art. 3642; No. 48, Art. 5731; No. 52, Art. 6428; 2010, No. 17, Art. 1988; No. 31, Art. 4193; No. 41, Art. 5193; 2011, No. 7, Art. 905; No. 23, Art. 3262; No. 27, Art. 3880; No. 29, Art. 4291; No. 48, Art. 6728; No. 49, Art. 7040; No. 50, Art. 7357; 2012, No. 25, Art. 3269; No. 31, Art. 4334; No. 53, Art. 7607; 2013, No. 26, Art. 3207; No. 30, Art. 4043, Art. 4082, Art. 4084; No. 51, Art. 6699; No. 52, Art. 6985; 2014, No. 30, Art. 4219; 2015, No. 1, Art. 13; No. 14, Art. 2022; No. 27, Art. 4001; No. 29, of the Art. 4348) (further - the Federal Law "About the Security Market") establishes procedure for opening and maintaining by depositaries custody accounts and other accounts.

Chapter 1. General provisions

1.1. On custody accounts accounting of the rights to the following securities can be performed:

the personalized securities placed by the Russian issuers (issued by the Russian legal entities), and also mortgages, accounting of the rights to which according to the Federal Laws can be performed by depositaries on custody accounts;

bearer securities with obligatory centralized storage;

foreign financial instruments which are qualified as securities according to the procedure No. 4561-U established by the Instruction of the Bank of Russia of October 3, 2017 "About procedure for qualification of foreign financial instruments as securities", the registered Ministry of Justice of the Russian Federation on April 3, 2018 No. 50596, on October 9, 2018 No. 52367 (further - the Instruction of the Bank of Russia No. 4561-U), and the rights to which according to the personal law of person obliged on these financial instruments can be considered on the accounts opened in the organizations performing accounting of the rights to securities.

1.2. The depositary performs account management of depot and other accounts by means of introduction and ensuring safety of records on such accounts concerning securities (further - accounting of securities).

1.3. Accounting of securities on custody accounts and other accounts opened by depositary is performed in pieces.

Accounting of the foreign financial instruments qualified as securities according to the procedure, established by the Instruction of the Bank of Russia No. 4561-U, can be performed in units in which they are considered on the account of person which is acting for the benefit of other persons, open for depositary.

1.4. In case of origin according to the Federal Laws and other regulatory legal acts of the Russian Federation of fractional securities the depositary performs accounting of fractional parts of securities.

Origin, increase or reduction of fractional parts of securities in case of their write-off is allowed only on custody accounts of nominee holders, on custody accounts of foreign nominee holders, and also on other accounts in the cases provided according to the Federal Laws including in cases of change of quantity of securities on personal account of the nominee holder in the register of owners of securities, the custody account of the nominee holder in other depositary or the account of person which is acting for the benefit of other persons in the foreign organization performing accounting of the rights to securities (further - the account of depositary).

In case of transfer of securities into the custody account their fractional parts are summed up.

Write-off from the custody account or other account of fractional part of security without integer of securities is allowed only in the absence of integer of securities, except as specified write-offs of fractional part of the foreign financial instrument which is qualified as security according to the procedure, established by the Instruction of the Bank of Russia No. 4561-U, cases of write-off of fractional part of security from the custody account of the nominee holder or the custody account of the foreign nominee holder, and also the cases provided according to the Federal Laws including cases of the securities redemption without volition of their owner.

Accounting of fractional parts of investment shares of mutual investment funds and hypothecation certificates of participation by depositaries is performed in decimal fractions with the quantity of signs after comma specified in rules of trust management of mutual investment funds (rules of trust management of mortgage covering), but at least 5 signs after comma.

If according to the Federal Laws securities are considered on sub-accounts of the depot opened to the custody account, the rules of transfer provided by this Item and write-off of fractional parts of securities are applied only to sub-accounts of depot.

1.5. Emergence of negative balance of the securities considered on the account (sub-account) of depot or other account opened by depositary is not allowed.

1.6. In the presence of positive remaining balance of securities on the custody account or other account opened by depositary, closing of such account is not allowed.

About account termination of depot or other account opened by depositary based on the agreement, the depositary notifies person with whom the specified agreement, in accordance with the terms of implementation of depository activity was signed.

1.7. The depositary performs accounting of the rights to the securities of the Russian issuers (persons obliged on securities) issued in the territory of the Russian Federation without involvement of the foreign organization in which the account of person which is acting for the benefit of other persons is opened for it.

1.8. Opening and account management of depot is performed by depositary taking into account requirements of the Federal Law of August 7, 2001 No. 115-FZ "About counteraction of legalization (washing) of income gained in the criminal way and to terrorism financing" (The Russian Federation Code, 2001, No. 33, Art. 3418; 2002, No. 30, Art. 3029; No. 44, Art. 4296; 2004, No. 31, Art. 3224; 2005, No. 47, Art. 4828; 2006, No. 31, Art. 3446, Art. 3452; 2007, No. 16, Art. 1831; No. 31, Art. 3993, Art. 4011; No. 49, Art. 6036; 2009, No. 23, Art. 2776; No. 29, Art. 3600; 2010, No. 28, Art. 3553; No. 30, Art. 4007; No. 31, Art. 4166; 2011, No. 27, Art. 3873; No. 46, Art. 6406; 2012, No. 30, Art. 4172; No. 50, Art. 6954; 2013, No. 19, Art. 2329; No. 26, Art. 3207; No. 44, Art. 5641; No. 52, Art. 6968; 2014, No. 19, Art. 2311, Art. 2315, Art. 2335; No. 23, Art. 2934; No. 30, Art. 4214, Art. 4219; 2015, No. 1, Art. 14, Art. 37, Art. 58; No. 18, Art. 2614; No. 24, Art. 3367; No. 27, the Art. 3945, the Art. 3950, the Art. 4001) and the regulations of the Bank of Russia adopted according to it.

Chapter 2. Types of the custody accounts opened by depositary and other accounts

2.1. The depositary can open the following accounts intended for accounting of the rights to securities:

custody account of the owner;

custody account of the trustee;

custody account of the nominee holder;

custody account of the foreign nominee holder;

custody account of the foreign authorized holder;

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