RESOLUTION OF THE NATIONAL COMMISSION ON THE FINANCIAL MARKET OF THE REPUBLIC OF MOLDOVA

of March 25, 2016 No. 13/4

About some temporary measures concerning procedure on the Stock exchange of Moldova of transactions with shares in the capital of insurance company

For ensuring the corresponding execution of provisions of Art. 29 of the h. (6) the Law No. 407-XVI of 21.12.2006 "About insurance" (The official monitor of the Republic of Moldova, 2007, No. 47-49) (further - the Insurance law), for the purpose of maintenance of stability of the financial market and ensuring the ordered activities in the capital market, based on Art. 1 of the h. (1), Art. 3, Art. 8 of the item b) and item t), Art. 9 of the h. (1) item d), Art. 21 of the h. (1), Art. 25 of the h. (2) the Law No. 192-XIV of 12.11.1998 "About the National commission on the financial market" (it is repeatedly published in the Official monitor of the Republic of Moldova, 2007, No. 117-126 BIS), Art. 1 of the h. (2), Art. 5, Art. 62 of the h. (2) the item d) the Law No. 171 of 11.07.2012 "About the capital market" (The official monitor of the Republic of Moldova, 2012, No. 193-197, the Art. 665), Art. 11 of h. (6) the item c) the Law No. 1134-XIII of 2.04.1997 "About joint-stock companies" (it is repeatedly published in the Official monitor of the Republic of Moldova, 2008, No. 1-4, by the Art. 1), Art. 41.4 of the item d) the Rules of the controlled market of Stock exchange of Moldova approved by Council of Stock exchange of Moldova of 22.04.2015 and approved by the Resolution of the National commission on the financial market No. 23/3 of 8.05.2015 (The official monitor of the Republic of Moldova, 2015, No. 115-123, the Art. 758), the National commission on the DECIDES: financial market

1. Resolve Stock exchange of Moldova the organization, by means of the direct biddings, transactions of purchase and sale of securities to which provisions of Art. 29 of the h extend. (6) the Insurance law, with their qualification the National commission on the financial market as special transactions.

2. The securities provided in item 1 of this resolution can be traded by means of:

a) voice auctions according to Regulations about the organization and accomplishment of transactions with single packets of securities in the controlled market of Stock exchange of Moldova approved by the Resolution of the National commission on the financial market No. 47/6 of 12.08.2015 (The official monitor of the Republic of Moldova, 2015, No. 224-233, the Art. 1441);

b) the market order according to Rules of the controlled market of Stock exchange of Moldova;

c) the order with condition entered and exposed in section of direct transactions;

d) the limit order entered into the multilateral trade system administered by Stock exchange of Moldova within which securities are admitted to trading temporarily, only for their sale.

3. In case of alienation by means of auctions from the hammer of the single blocks of shares (irrespective of their size) issued by insurance companies which fall under action of Art. 29 of the h. (6) the Insurance law, in departure from provisions of item 3.1 of subitem 2) of Regulations about the organization and accomplishment of transactions with single packets of securities in the controlled market of Stock exchange of Moldova, the application for sale shall be submitted on the Stock exchange of Moldova no later than 12:00 in the afternoon of A-60.

4. In case of alienation of shares according to item 2 of this resolution, the Stock exchange of Moldova and investment societies will provide the obligatory notice of potential investors on availability of restrictions from the Insurance law.

5. To impose control over execution of this resolution on general management of supervision of securities.

6. This resolution becomes effective according to Art. 22 of the h. (3) the Law No. 192-XIV of 12.11.1998 "About the National commission on the financial market".

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