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Financial and capital market Commission Regulation No. 120 in Riga on July 7, 2006 (pr. No 31 2. p.)
The State funded pension scheme investment plan annual report Regulations Issued pursuant to the financial and capital market Commission of the law article 7 paragraph 1, first subparagraph, and article 17, paragraph 2, of the State funded pension Act article 14, first subparagraph, (I) General questions 1. "the State funded pension scheme investment plan annual report rules" (hereinafter-the rules) are binding on the State funded pension scheme managers of funds When preparing the investment plan's annual report and accounts of the sort.
2. each management it governance existing investment plan to prepare an investment plan, an annual report on the State funded pension scheme management (hereafter referred to as the annual report), which must comply with the requirements of this regulation.
3. the annual report as a single package consisting of: 3.1 the financial statements, which include: 3.1.1. asset and liability report 3.1.2. income and expenditure report, 3.1.3. net asset movement statement, 3.1.4.;
3.2. the management report;
3.3. statement of responsibility of the Board of management;
3.4. the custody report.
4. The financial statements provide a true and fair view of the investment plan's financial position, performance and cash flow. Financial statement preparation is carried out on the basis of the international accounting standards Board issued international accounting standards, financial reporting standards and international financial reporting interpretations Committee's interpretations of the standards approved by the European Commission and which has been published in the official journal of the European Union (hereafter referred to as international financial reporting standards). Information about the European Commission approved international financial reporting standards available in the website www.europa.eu.int/comm/internal_market/accounting/ias_en.htm, as well as the Ministry of Finance of the Republic of Latvia in the website www.fm.gov.lv. In preparing the financial statements, you can also use the international financial reporting standards published in the official journal of the European Union after the balance sheet date but before the approval of the annual report. Information about international financial reporting standards in the course of approval of the European Commission, and the expected publication of the official journal of the European Union is available on the website www.efrag.org.
5. A sample statement of assets and liabilities, the income and expenditure account and net asset movement statement item layout specified in that rule 19, paragraph 24 and 37. You can hide some of the items of the financial statements, if they are not essential or not reporting it makes visible the financial statements, as well as to create those other layout or include additional items, but in any case the roles information recording must comply with international financial reporting standards.
6. the annex shall include descriptive information about the report of assets and liabilities, the income and expenditure account and net asset movement statement item content, comment on applied accounting policies and investment policies, as well as provide a description of the qualitative and quantitative information about the risks associated with the investment portfolio, describes the risk management and found other information which substantially affected or may materially affect the financial position of the investment plan and its activities.
7. The annual report of the currency is the monetary unit of the Republic of Latvia. The annual report indicates the financial statements show the degree of accuracy of the figures.
8. Rules for an explanation of terms used in the annex.
II. Annual report submission and publication 9. Annual report of the Management Board at protocol statement of approval of the annual accounts (Treasury Manager signed the document which certifies the annual accounts approval) and the full jury for the auditor's report annual report within 10 working days of the Board meeting (Treasury Manager investment plan approval of the annual report), but not later than three months after the end of the reporting year submit financial and capital market Commission (hereinafter "Commission"). The funds Manager within 10 days of receipt, but no later than for the year in the following year on May 1, submitted to the Commission for the management of management addressed in the auditor's report (management letter).
10. If the sworn auditor's opinion on the annual report on the financial statements is included with notes or sworn auditor refused to give an opinion or provided a negative opinion, then the funds Manager shall provide the Commission and the State social insurance agency (hereinafter: the Agency) written application explaining the sworn auditor's notes, refusal to give an opinion or negative opinion given reasons and giving proposals for investment to improve the operation of the plan.
11. Full or abbreviated annual report and the auditor's report will be published by sworn in at least one daily newspaper, which is distributed throughout the territory of the Republic of Latvia, no later than the year following the reporting year on May 1. Condensed annual report includes statements of assets and liabilities, the income and expenditure account and net asset movement statement. If the sworn auditor refused to give an opinion, this fact shall be published, indicating the reasons for the refusal.
12. If the annual report is published in full, it must be in a form and the version in which it was approved.
13. If the annual report is published in full, clearly indicates that it is published in a shortened investment plan, the annual report and to indicate where you can look at the investment plans of the full annual report. It is the responsibility of management to ensure that the full annual report would be freely available to the Central Office no later than the year following the reporting year on May 1.
III. Reports 14. Management report: 14.1. investment plan name, the name of the management, the legal address and location of the Executive Body, date of incorporation, and registration number, license the State funded pension scheme management for the number and date of issue;
14.2. the State funded pension scheme management representative for quality assessment, URt.sk.: 14.2.1. contribution to total plan assets, the net asset value of the part URu.tml. evaluation and indicator change in it;
14.2.2. investment strategy description of changes and the situation in the different markets in which investment is made, the assessment;
14.2.3. for information on the contribution of structural changes;
14.2.4. an investment in General and individual investment profitability assessment;
14.2.5. administrative expenditure;
14.3. information about any important events since the end of the year to approve the annual report and the date of the relevant to the financial situation of the investment plan and its understanding of performance;
14.4. the further development of the investment plan forecast, explaining any relevant circumstance and risk.
15. the annual report shall also include the management board by a written communication indicating that its liability for the accuracy of financial statements. A statement signed by Chairman of the Board of management (Treasury Manager) and the investment manager of the plan.
16. The statement of the Management Board responsibility: 16.1. Executive Board is obliged that within the existing legislative requirements to prepare financial statements that clearly and truly reflects the investment plan's financial position at the end of the year, as well as the review on performance;
16.2. the Management Board shall be responsible for the proper keeping of accounts, investment funds of the plan, as well as fraud and other fraudulent activities;
16.3. or financial statement items are evaluated consistently using international financial reporting standards;
16.4. or the Management Board decisions and assumptions about the preparation of the annual report have been carefully and wisely.
17. Custodian report: 17.1. custodian name, founding date, registration number and registered office;
17.2. the custodian of the list of duties and responsibilities;
17.3. investment plan of compliance means the State funded pension law requirements;
17.4. investment funds of the plan, the conformity of the value of this provision;
17.5. the submitted order management compliance with the State funded pension law, the prospectus, the investment plan administration and custodian of the Treaty requirements of the contract. A custodian agreement is an agreement between management and the bank or foreign bank branch, which is stored in the investment plan;
10.9. other information which is essential for the members of the investment plan.
18. Custodian bank report signed by the Chairman of the Management Board.
IV. statement of assets and liabilities assets and liabilities 19 statement item layout sample 19.1. Active 19.1.1 requirements on demand to credit institutions 19.1.2. Held for trading financial assets
126.96.36.199. Debt securities and other fixed income securities 188.8.131.52. Shares and other securities with fixed income 184.108.40.206. Derivative financial instruments are classified as 19.1.3. fair value of financial assets with an estimated coverage of profit or loss 220.127.116.11. Debt securities and other fixed income securities 18.104.22.168. Shares and other securities with fixed income 19.1.4. Available-for-sale financial assets 22.214.171.124. Debt securities and other fixed income securities 126.96.36.199. Shares and other securities with fixed income 19.1.5. Held-to-maturity investments
188.8.131.52. Debt securities and other fixed income securities 184.108.40.206. Time deposits with credit institutions 19.1.6 19.1.7. Receivables. Prepaid expenses and accrued income other assets 220.127.116.11.1.9. Total assets (19.1.1 + ... + 19.1.8.)
19.2 obligations on demand. for 19.2.1 to credit institutions 19.2.2. Held for trading financial liabilities 19.2.3. Classified as fair value assessed financial obligations with the presentation of profit and loss statement 19.2.4. Amortized acquisition value assessed financial commitment 19.2.5. Financial assets transfer the resulting financial obligations 19.2.6. Deferred income and accrued expenses accruals 18.104.22.168.2.8 19.2.9. other liabilities total liabilities (19.2.1. + ... + 19.2.8.)
19.3 Net assets (19.1.9. – 19.2.9.)
V. explanatory notes on the reporting of assets and liabilities items 20. Assets 20.1. requirements on demand to credit institutions this item displays the requirements on demand to credit institutions, i.e. the requirements that can be satisfied without prior demand or request deadline is 24 hours or one business day. A credit institution within the meaning of this provision corresponds to article 1 of the law of credit institutions 1, point a (a)).
20.2. Held for trading financial assets this item shows the portion of the fair value of financial assets with an estimated coverage of profit or loss, which under international accounting standard 39., are classified as held for trading financial assets, such as debt instruments (t.sk. investment fund certificates), equity instruments and derivative financial instruments.
20.3. Classified as fair value financial assets evaluated the presentation of profit and loss statement under this item displays the portion of the fair value of financial assets with an estimated coverage of profit or loss, which under international accounting standard 39., are classified as at fair value financial assets evaluated the presentation of profit and loss statement (in the case of the investment plan called a reflection of the income and expense statement) for example, debt and equity instruments.
20.4. Held-to-maturity investments this item displays the debt traded on a regulated market of securities and other financial investments with a fixed maturity that are classified as held-to-maturity investments.
20.5. Receivables this item presented to the regulated market without trade in debt securities, receivables and other claims arising from transactions with customers, t.sk. financial assets with fixed maturity that are classified as receivables.
20.6. Prepaid expenses and accrued income this item displays the income relating to the financial year and for earlier years, but the period for receipt of the balance sheet date are not yet timed, for example, not yet received, but the calculated commissions, rents, interest income, except where, in accordance with international financial reporting standards include the specified financial assets at fair value or amortized acquisition costs.
This item shall also show the expenses incurred up to the end of the financial year but relating to future periods.
This item recording income/expenses consisted only of assets that are not classified in any of the categories of financial assets.
21. the obligation to Respect the request 21.1 to credit institutions this item displays the obligations arising from transactions with credit institutions, t.sk. credit balances on the settlement accounts (overdraft), which are reimbursable without prior request or request within 24 hours or one business day.
21.2. Held for trading financial liabilities this item displays the financial obligations towards clients from held for trading in financial derivatives, short positions in financial instruments and other liabilities that are classified as held for trading financial liabilities.
21.3. Amortized acquisition value rated financial commitments this item displays the financial liabilities that are classified as amortized acquisition value assessed financial commitment.
21.4. the transfer of financial assets the resulting financial obligations this item shows the amount of the consideration received for financial assets that are transferred to another party, but the investment plan retains a significant portion of the risks and benefits resulting from the transferred financial assets in accordance with international accounting standard 39. in paragraph 29, for example, of an agreement on the sale of the asset repurchase (repo), as well as the investment plan liabilities on stored transferred financial assets in accordance with international accounting standard 39-31. The annex provides information on the types of financial assets and their corresponding financial liabilities.
21.5. Deferred income and accrued expenses this item displays the costs relating to the financial year and for earlier years, but the date for payment of the balance sheet date are not yet joined, except that in accordance with international financial reporting standards include the fixed financial obligations at fair value or amortized acquisition costs. This item shall also in accordance with international accounting standard 17-estimated accrued rent payments.
This item shall also show the income that is received by the investment plan until the end of the reporting year, but relating to the next financial year.
This item recording income/expenses consisted only of assets that are not classified in any of the categories of financial assets.
21.6. The provision under this item displays accruals that relate to the current year and previous years and which satisfy 37. International accounting standard.
21.7. Other liabilities this item shows a commitment on the part of the investment plan costs and other liabilities which are not reportable in the statement of assets and liabilities-19.2.7 19.2.1. item.
22. the net assets this item shows the total assets and total liabilities.
23. special conditions 23.1. Funds Manager opens each investment plan a separate checking account custodian.
23.2. the justification documents that apply to the investment plan, in addition to the management of the property indicates the name of the investment plan.
23.3. the assets of the investment plan are presented in the statement of assets and liabilities item, even if the funds Manager has pawned the investment plan security, maintaining control over these assets.
23.4. The funds Manager must not include investment assets and liabilities of the plan, report the plan of investment assets pledged or transferred as collateral assets.
Vi. Income and expenditure account 24. Income and expense reporting sample 24.1. Current period income. Interest income on 24.1.1 claims against credit institutions 24.1.2. Interest income on debt securities. Income from dividends 24.1.3 24.1.4. Other income total income 24.1.5 (24.1.1. + ... + 24.1.4.)
24.2. Reporting period expenditure 24.2.1. Interest expenses. Compensation Funds 24.2.2 Manager 24.2.3. Remuneration for 24.2.4. other custodian investment plan administration expenses 24.2.5. Other expenditure total expenditure 24.2.6 (24.2.1. + ... + 24.2.5.)
24.3. the investment value increase/decrease in 24.3.1. Realized investment value increase/(decrease) in unrealized investment 24.3.2. values increase/(decrease) increase in the value of investments 24.3.3./shrink together (24.3.1. + 24.3.2.)
15.2. taxes and fees as a result of the investment gain 24.5. net asset increase/(decrease) (24.1.5.-.-24.4 24.2.6. + 24.3.3.)
VII. the explanatory notes on the income and expenditure items 25. Interest income on claims against credit institutions this item displays the year in interest income from time deposits and requirements on demand to credit institutions.
26. Interest income on debt securities
This item displays the year in interest income on debt securities regardless of income calculation method, t.sk. income arising from a discount amortizēj for assets acquired by the value that is less than the par value, which will receive the investment plan, due to this active repayment terms. As a percentage of revenue reductions include expenses arising from the amortizēj bonus for assets acquired by value greater than par value, which will receive the investment plan, due to this active repayment terms.
As interest income report income resulting from the agreement on the sale of the asset repurchase (repo) as a result of active buyer, amortizēj the positive difference between the sales price of the assets purchased and the purchase price.
As interest income report income from hedging purpose purchased financial derivatives, which are divided according to the actual agreement and essentially similar percentages.
27. Income from dividends presented under this item from investments in shares and other securities with fixed income dividends receivable.
28. Other income this item presented in previous years does not secure debts (except for the reporting of assets and liabilities – 19.1.2 19.1.5. item reported assets) created a reduction in stocks, the income from the assets written off in previous years (except for the reporting of assets and liabilities – 19.1.2 19.1.5. item indicated active) recovery, as well as other income connected with the State funded pension scheme management, but is not reportable 24.1.1. – 24.1.3. item.
29. Interest expenditure under this item is presented in the reference year for the data presented in the statement of assets and liabilities – item 19.2.5 19.2.1, i.e. the costs incurred by the agreement on the sale of the asset repurchase (repo) assets of the seller, the result of a positive amortizēj the difference between the purchase price of the assets sold and the selling price, as well as other interest expenses.
As interest expenses show expenses from hedging purpose purchased financial derivatives, which are divided according to the actual agreement and essentially similar percentages.
30. Consideration of this item to the management presented to the Commission due to the management in accordance with the management agreement.
31. the consideration of this item at the custodian shall produce commissions due under a custodian contract administration and custodian agreement.
32. other investment plan administration expenses this item displays the remuneration due to the Auditors, as well as other investment plan administration expenses, which are not presented to 24.2.1 24.2.4. item.
33. Other expenditure under this item of expenditure is presented to the stocks for safe debt (t.sk. the accrued income) relating to the financial year, excluding savings assets presented in the statement of assets and liabilities – 19.1.2 19.1.5. item. This item includes the losses resulting from the asset (excluding assets presented in the statement of assets and liabilities – 19.1.2 19.1.5. item) as a result of writing off, if they have not previously been provisioned or created stocks proved to be less than the amount of the disposal.
34. the realized investment value increase/(decrease) this item displays the difference between the amount of money received from the reporting of assets and liabilities – 19.1.2 19.1.5. item reflected the investment sales, t.sk. delete, of the Securities and the amount of money that is spent to purchase these investments, adjusted in the following order: 34.1. increasing the value of the investment established its revaluation in previous reporting periods;
21.3. reducing the increase in the value of the investment established its revaluation in previous reporting periods.
35. Unrealized investment value increase/(decrease) presented under this item the report of assets and liabilities – 19.1.2 19.1.5. reported assets under the revaluation resulting value increase/decrease, t.sk. fair value revaluation of investments evaluated, foreign exchange revaluation of investments, the savings do not secure debts, as well as impairment loss.
36. taxes and fees this item show taxes and charges relating to the financial year.
VIII. statement of movements in net assets net assets of 37. motion review sample 37.1. Net assets at the beginning of the year. investment results in 37.2 net asset increase/(decrease) 37.3. By its social insurance agency the amounts received 37.4. The State social insurance agency paid and the amount of money payable net assets of 37.5. increase/(decrease) in the reference year (37.2. +.-37.4 37.3.)
23.4. the net assets at the end of the year (37.1. + 37.5.)
37.7. Investment Plan part number at the beginning of the accounting year 23.5. Investment Plan part number at the end of the year. Net assets per 23.5 investment plan part of the beginning of the year (37.1.: 37.7.)
37.10. Net assets per share of the investment plan at the end of the year (23.4.: 23.5.)
IX. Assessment provisions 38. the financial statements shall be prepared in accordance with the following general principles: 38.1. assuming that the investment plan will be managed (work) will continue and the State funded pension scheme management has no intention or need to terminate the operations of the investment plan or dramatically reduce the scope of the investment plan (the going concern principle);
23.7. using the same accounting and valuation methods used in the preparation of the previous report, the annual financial statements (principle of coherence or consistency);
38.3. the evaluation carried out in all cases with due caution (the precautionary principle), subject to the following conditions: 38.3.1. including only the reporting year of profit, that is, the income/expenses are presented, taking into account the conditions that existed at the balance sheet date;
38.3.2. having regard to all of the obligations relating to the financial year and the previous financial year;
38.3.3. taking into account any depreciation and amortisation/depreciation amount regardless of whether the reporting year a loss or a profit;
23.9. the report reflecting the income and expenses relating to the financial year, regardless of receipt or payment date (accrual basis);
38.5. the report reflecting all relevant information on transactions and events in the reporting year (materiality principle). Information is material if its non-disclosure could affect the users of the financial statements of the further decision-making;
24.0. asset and liability items and components of assessing the individual;
each year 36.6. beginning the reporting of assets and liabilities start date in accordance with the previous statements of assets and liabilities of the closing data. Review on the statement of assets and liabilities at the beginning of the data may be different from the Management Board confirmed previous statements of assets and liabilities, if in accordance with international financial reporting standards are specified adjustments of previous accounting periods.
39. If using the principle referred to in paragraph 38, between some of them conflict, individual transaction or event and registration is carried out by favouring the precautionary principle and the principle of materiality.
40. when preparing the financial statements, management may derogate from the principle referred to in paragraph 38 of the only justified for reasons of substance and impact on the investment plan's financial position, the results of its operations and of net assets of motion explain annex.
41. transactions and events in the activities of the investment plan reflects the financial statements, taking into account their economic content and nature, not merely the legal form.
42. the statement of assets and liabilities assets or liabilities shown value which should not be reduced by deducting from the value of the asset value of the undertaking or deducting from the value of the asset value of obligations, except where required or permitted by the international financial reporting standards.
43. the Income and expenditure account of the income and expenses may not be mutually set off except when required or permitted by the international financial reporting standards.
44. the statement of assets and liabilities assets if they are provisioned, presented net of the value of these stocks.
45. Assets and liabilities in foreign currency in the Republic of Latvia monetary units by Bank of Latvia exchange rate on the last day of the reporting period. With the change in foreign exchange rates relates to the value of assets and liabilities change in Latvian currency reflects the income and expenditure statement.
46. If, between the end of the financial year and the date on which the annual report approved by the Management Board, has received information that provide evidence of conditions that existed at the balance sheet date, the following events take account of relevant items of the financial statements.
47. the purchase and sale of assets accounted for a transaction or settlement date. The selected method is used consistently.
48. The funds Manager determines the marketing list Organizer arranges for the investment of the assets of the portfolio of open and regular publicly traded business closure and that information on the market value of the assets of the quotation will be taken into account in the assessment of the investment plan assets. Creating the list based on the organizer of trade information in which the asset is purchased in the quoted.
49. The funds Manager line with a custodian in the internal procedures, the investment plan investment portfolio asset price used for the evaluation of the accuracy of the testing procedures.
50. The funds Manager accounting policy of the investment plan is determined for each type of financial instrument valuation method and apply it consistently. Financial instruments are classified as follows: 50.1. fair value estimated financial assets or financial liabilities with the presentation of the income statement: 50.1.1. held for trading financial assets or financial liabilities classified as 50.1.2. fair value measured financial assets or financial liabilities with the presentation of profit and loss statement;
50.2. available-for-sale financial assets;
50.4. held-to-maturity investments.
51. All items of the financial statements, the assessment shall be carried out on the basis of international financial reporting standards requirements, insofar as this does not conflict with the provisions of paragraph 4.
Content of the annex x annex 52 shall include the following, as well as other points of these regulations on the investment plan financial statements and specified the contents of international financial reporting standards with the requested information.
53. Accounting policy provides clarification for an explanation of all the most important accounting policies used in preparing the financial statements, t.sk. about: 53.1. criteria and assumptions applied to the asset and liability report items recognised in the statement of assets and liabilities or the disposal of it;
53.2. assets and liabilities statement item evaluation principles;
53.3. income and expense accruals and recognition policy;
53.4. the methods and significant assumptions used in the fair value of financial instruments;
13. hedging (hedging) relations and termination of recognition policy and accounting principles;
53.6. accrual of debts building unsafe and not recoverable debt write-off;
53.7. error related to the previous reporting period, the šēj correction procedures;
53.8. changes in accounting policies for recognition;
is 53.9. items expressed in foreign currency, the presentation of the Republic of Latvia for the conversion of the currency used in the course.
54. information on risk management deals with risk (credit risk, interest rate risk, currency risk, liquidity risk and price risk) related to the investment portfolio, financial instruments, and describes the risk management. Explain how their risk, which substantially affect the operation of the investment plan is changed during the reference year, as well as provide clarification on the holding of financial instruments objectives and policies, which are implemented to achieve the objectives set.
55. Detailed information on the investment of assets and liabilities-reporting item 19.1.2 19.1.5. documentation presented investment: 55.1. financial instruments, except term deposits with credit institutions, grouped according to the issuer of a financial instrument in the country of registration;
55.2. financial instruments, except term deposits with credit institutions, grouped according to whether they are traded on regulated markets of financial instruments or other financial instruments, specifying the name of the issuer of the financial instrument, the financial instrument quantity, purchase price and book value;
55.3. term deposits in credit institutions grouped according to relevant transaction partner's country of registration, stating their values and separately, the accrued interest;
55.4. derivative financial instruments, t.sk. with a negative fair value, grouped according to the counterparty's origin (registration) in the country, including relevant derivative financial instruments the carrying value.
56. the allocation of assets and liabilities by currencies presented in the statement of assets and liabilities items of assets and liabilities reflected in the breakdown by currencies (t.sk. The monetary unit of the Republic of Latvia, us dollars, euro, and other currencies), taking into account the future position of financial derivatives. Determine the net open in each currency positions to net assets.
57. for the assessment of liquidity liquidity in asset and liability balances are presented according to their remaining repayments, or delete terms in the following time intervals: on request, up to one month (inclusive), from one month to three months from three months to six months from six months to one year, from one year to five years, five years or more. You can use the other time-intervals, splitting or combining these time intervals, taking into account the principle of materiality. In addition to the obvious assets and liabilities with a fixed maturity, the corresponding time interval criteria and assumptions used.
58. Financial assets whose carrying value is different from the fair values Of those financial assets whose carrying amount differs from the true value, provide the following information: 58.1. If financial assets should be valued at their fair value, but this is not done, this fact is discovered, explaining, for any reason, such financial assets are measured at fair value;
58.2. If financial assets must be valued in the acquisition value and amortized book value is higher than their real value, explains the reasons why it was not recognised financial assets impairment losses, as well as providing objective evidence that financial assets will regain at least their carrying amount;
58.1 and 58.3. presented. 58.2. above the book value of financial assets and the fair value of the net assets, including relevant report item, which the financial asset.
59. the realized investment value increase/(decrease) displays the realized investment value increase/decrease structure, t.sk. the acquisition value of investments sold, sold the investment sales price and value of investments sold (increase)/decrease in established in previous reporting periods, the adjustment.
60. Unrealized investment value increase/(decrease) displays the unrealized appreciation of investments/reduction structure, t.sk. report of assets and liabilities items which in the year under review was overrated and revaluation.
61. Other income, other expenditure presented in the rest of the structure of income and expenses by type.
62. information on the movement of investment during the reference year For the reporting of assets and liabilities – 19.1.2 19.1.5. item provides the following information: 62.1. the book value at the beginning of the year;
62.2. growth, i.e. the new acquisition of assets and liabilities in the accounting year;
38.7. reduction, i.e., assets and obligations in respect of the financial year;
38.8. revaluation accounting year;
62.5. book value at the end of the year.
63. Pledged assets presented information about the assets pledged, and the mortgage or lien.
64. the performance of the investment plan Dynamics Provides the following information: 64.1. comparative information on contributions to the plan in the last three years of the net asset value of the investment plan dynamics, the dynamics of the number of shares, the value of the investment plan Dynamics;
64.2. the profitability of the investment plan dynamics, showing the profitability, expressed as a percentage per year, at least for each of the past three years. The yield is calculated as the value of the part of the investment plan changes during the year relative to its value at the beginning of the year, when expressed as a percentage, assuming that the year is 365 days. Part of the investment plan matches and in paragraph 22.214.171.124 specified;
64.3. If, when you start or stop the operation of the investment plan, the reporting period is shorter or longer than a calendar year, the yield calculated as the value of the part of the investment plan changes during the reporting period relative to its value at the beginning of the reporting period, indicating the period for which the calculation is performed.
65. information on the disposal of assets limits presented information about any significant limitations that affect management options at the end of the year to dispose of the assets of the investment plan for the value that they are included in the financial statements. Restrictions may include, for example, by law or contract specific limitations in connection with asset realisation or significant penalties, which would be paid in the case of asset realisation, on the State of the reporting date URu.tml.
66. the commitment of the active sales with repurchase option presented in the liabilities arising on the assets of the seller agreement asset sale with option of repurchase.
67. Taxes and fees Presented in the reference year of the investment plan of property taxes paid and fees by type of taxes and duties and received tax incentives.
68. information management
Displays information about the members of the Board of management and investment planning Manager (officers) name, surname, position and contribution to the administration of the plan and description of the obligation. This information is also provided for those investment managers for the plan, which in the year left in this post.
XI. Closing questions 69. rules applicable in the State funded pension scheme for preparing the management plan's annual report, beginning with the year 2006.
70. the State funded pension scheme funds Manager is entitled to enforce the rules, the preparation of the 2005 annual report.
Financial and capital market Commission Vice Chairman j. Brazovsk the annex to the financial and capital market Commission 07.07.2006. Regulation No. 120 terms used in rules 1. Financial instruments (financial instrument): 32. International accounting standard within the meaning of paragraph 11.
2. Financial assets (financial asset) — 32. International accounting standard within the meaning of paragraph 11.
3. financial commitments (financial liability) — 32. International accounting standard within the meaning of paragraph 11.
4. Equity instruments (equity instrument): 32. International accounting standard within the meaning of paragraph 11.
5. Derivative financial instruments (the counterparties) — 39. international accounting standards within the meaning of paragraph 9.
6. the estimated fair value of the financial assets or financial liabilities with the presentation of profit and loss statement (financial asset or financial liability at fair value through profit or loss) — 39. international accounting standards within the meaning of paragraph 9. These include: 6.1 keep trading financial assets or financial liabilities (financial assets or financial liability held for trading);
6.2. upon initial recognition classified as fair value estimate with the presentation of profit and loss statement (upon initial recognition designated as at fair value through profit or loss) (text of rules — classified as fair value estimated by the presentation of profit and loss statement).
7. Held-to-maturity (held-to-maturity) investments — 39. international accounting standards within the meaning of paragraph 9.
8. Accounts receivable (receivable) — 39. international accounting standards within the meaning of paragraph 9.
9. Available for sale (available-for-sale) financial assets — 39. international accounting standards within the meaning of paragraph 9.
10. Fair value (fair value): 32. International accounting standard within the meaning of paragraph 11.
11. The Depreciated value of acquisition (amortised cost) — 39. international accounting standards within the meaning of paragraph 9.
12. The value of the loss (the loss of impairmen) — 36. international accounting standards within the meaning of paragraph 6.
13. Book value (carrying amount) — 36. international accounting standards within the meaning of paragraph 6.
14. the estimated value of the acquisition (valued at cost) — 27. international accounting standards within the meaning of paragraph 4.
15. Hedging (hedging) — 39. International accounting standard within the meaning of paragraph 71.
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