On The Restructuring Of Credit Institutions

Original Language Title: О реструктуризации кредитных организаций

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Overtaken by Federal Law N 87-FZ RUSSIAN FEDERATION FEDERAL LAW On Restructuring of Credit Organizations Adopted by the State Duma on 25 June 1999 Approved by the Federation Council 2 July 1999 (In the wording of the federal law of 21.03.2002) N 31-FZ; of 08.12.2003 N 169-FZ) CHAPTER I. GENERAL PROVISIONS Article 1. The subject of regulation of this Federal Law 1. This Federal Law establishes the procedure and conditions for carrying out the restructuring of credit institutions. 2. The relations related to the implementation of the measures on the restructuring of credit institutions are regulated by the Constitution of the Russian Federation, the Federal Law, other federal laws and the regulations adopted in accordance with them. OF THE PRESIDENT OF THE RUSSIAN FEDERATION Article 2: Restructuring of Credit Organization 1. The restructuring of the credit institution, in the sense of this Federal Act, refers to a set of measures applied to credit institutions aimed at overcoming their financial volatility and the restoration of solvency, or on the basis of OF THE PRESIDENT OF THE RUSSIAN FEDERATION 2. The Agency for Restructuring Credit Organizations (hereinafter-the Agency) is being established to carry out restructuring activities of credit institutions. The status of the Agency, its functions and powers shall be determined by this Federal Act. 3. This Federal Law may be applied to a credit institution if within six months prior to the decision to send the Bank of Russia a proposal for the transfer of a credit institution to the Agency under the terms of By this Federal Law, the credit institution: had a share of citizens 'deposits of at least 1 per cent of the total share of citizens' deposits in credit organizations of the Russian Federation; had a share of at least 1 per cent of assets OF THE PRESIDENT OF THE RUSSIAN FEDERATION loans granted to legal entities (loans), excluding loans (loans) granted to credit institutions; had a share of at least 20 per cent of citizens ' deposits in credit institutions; In the territory of the Russian Federation, the share of assets of credit organizations located in the territory of the constituent entity of the Russian Federation was not less than 20 per cent. Article 3. The foundation for the transition of a credit institution to the Agency's Management Credit Organization can be managed by the Agency in the event that its capital is sufficient, calculated in accordance with Federal Law " Central Bank of the Russian Federation (Bank of Russia) "does not exceed 2 percent and it does not meet the requirements of individual creditors and (or) does not comply with the obligation to pay Mandatory payments within a period of seven days from the date of their satisfaction and/or performance, due to the absence or insufficiency of funds on the correspondent accounts of the credit institution. Article 4. Agency Management of Credit Organization 1. For the purposes of this Federal Act, the credit institution is administered by the Agency to carry out its activities to restructure the credit institution in conditions that enable the Agency to determine the decisions of the credit institution. The Conference of the Parties, 2. The procedure for the transfer of the credit institution to the Agency shall be established by this Federal Law. Article 5. Procedures used in accordance with this Federal Law The following procedures apply to this Federal Law: Credit Organization Survey; the restructuring of the credit institution. Chapter II. CENSUS OF CREDIT ORGANISATION Article 6. Credit Organization Survey 1. The credit institution's survey is used to determine the Agency's ability to take over the credit institution. The credit institution's survey begins with the Agency's receipt of a proposal from the Bank of Russia on the transfer of the credit institution to the agency of the Agency and is completed by the time the credit institution is under the authority of the Agency, or the Agency's refusal to transfer the credit institution to its administration and should not exceed 90 days. 2. Since the beginning of the survey procedure, the credentials of the founders (participants) of the credit institution relating to participation in its authorized capital shall be suspended except for the powers referred to in article 11, paragraph 5, of this Federal Act. If the Agency decides not to accept the admission of a credit institution, the rights of the founders (participants) of the credit institution shall be restored in full from the date of the Agency's adoption of the decision. Article 7. Proposal from the Bank of Russia on the transition of a credit organization to the agency of the Agency 1. The Bank of Russia is obliged to send to the Agency a proposal to transfer the credit institution to the Agency within a period not exceeding seven days from the date of receipt by the Bank of Russia bodies responsible for making a decision on the direction of the Agency. Proposals, reliable information on the establishment of grounds for the transfer of a credit institution to the Agency under this Federal Act. The Bank of Russia has the right not to send a proposal to the Agency for the transfer of a credit institution to the Agency if the credit institution carries out bankruptcy prevention measures provided for by the Federal Law " The bankruptcy (bankruptcy) of credit organizations" and the Bank of Russia regulations. The proposal to transfer the credit institution to the Agency is made by the Board of Directors of the Bank of Russia and is signed by the Chairman of the Bank of Russia or his or her deputy. 2. The Bank of Russia is attached to the proposal to transfer the following documents: copy of the constituent documents of the credit institution and the license for banking operations; copy The accounting and financial statements of the credit institution sent to the Bank of Russia in the last 12 months; copies of the annual financial statements of the credit institution for the last reporting year and the audit opinion thereon; latest credit check material, Bank of Russia information about the founders (participants) of the Bank of Russia, with an indication of the share in the authorized capital of the credit institution; credit institution. 3. The founders (participants) of the credit institution and other interested persons have the right to appeal to the court the decision of the Bank of Russia to submit a proposal for the transfer of a credit institution to the Agency. "The appeal of the Bank of Russia's decision to submit a proposal for the transfer of a credit institution to the Agency does not suspend its execution until the court makes a decision on the merits," the bank said in a statement. Article 8. Temporary administration for managing credit organization 1. "The Bank of Russia is obliged to appoint a provisional administration for managing the credit institution to the credit institution the next day, following the day of the proposal to transfer the credit institution to the Agency," the statement said. The administration), acting in accordance with the Federal Law "On the insolvency (bankruptcy) of credit organizations", taking into account the particularities, established by this Federal Act. The Bank of Russia's decision to appoint a provisional administration in accordance with this paragraph may not be suspended if the credit institution or third parties are referred to the court. 2. The Interim Administration implements the powers provided by the Federal Law in the conduct of the survey " (bankruptcy) of credit institutions" for the interim administration in suspension of the powers of the executive bodies of a credit institution The organization is also entitled to carry out actions related to the reduction of the authorized capital of the credit institution to the amount of its own funds (capital) and with the increase of the authorized capital of the credit institution. 3. The head of the interim administration may be appointed to meet the requirements of the executive heads of the interim administration by Federal Law " About insolvency (bankruptcy) of credit organizations", as well as an employee of the Agency. The employees of the Agency are not subject to the Federal Law when appointed by the heads of the provisional administration in accordance with this Federal Law " The insolvency (bankruptcy) of credit organizations, except for the requirement of certification. The provisional administration appointed under this Federal Act may include employees of the Agency, employees of the Bank of Russia, as well as other persons recommended by the Agency. The composition of the provisional administration is determined by the order of the Bank of Russia on its appointment. 4. The interim administration is obliged to carry out an analysis of the financial situation of the credit institution and submit its findings to the Bank of Russia and the Agency, as well as provide the Agency with additional information on the request of the Bank of Russia. The financial situation of the credit institution and other information necessary for the decision to transfer the credit institution to the Agency. 5. The interim administration has been in operation since the day of its appointment and in the event of the Agency's decision to transfer the credit institution to the Agency until the day of submission to the Bank of Russia of the constituent documents of the credit institution for registration Changes in accordance with Article 12 of this Federal Law, and in the event of the Agency's refusal from the transfer of the credit institution to the management of the Agency-until the day of appointment to the credit organization of the arbitration manager (the liquidator). 6. The head and members of the interim administration are not responsible for the obligations of the credit institution, and the credit institution is not responsible for the obligations of the head and members of the interim administration. The actions of the credit institution do not suspend the activity of the interim administration. The head and members of the interim administration may be subject to disciplinary and criminal liability if the acts are committed. Article 9. Agency's authority to survey Credit Organization The Agency: 1) reviews the financial status of the credit institution and other data needed for a decision on the transfer of the credit institution to the Agency, the size of assets (property), liabilities and equity (capital) of the credit institution; 2) receives financial information from the interim administration and other information required for adoption " The decision to transfer the credit institution to the agency of the Agency; 3) is entitled to request the Bank of Russia to provide additional information needed to make a decision on the transfer of the credit institution to the management of the credit institution. Agency; 4) decides to transfer the credit institution to the Agency or the decision not to transfer the credit organization to the Agency; 5) has the right to turn to the Government of the Russian Federation. of the Russian Federation A request for the determination of the types of financial assistance and/or other forms of assistance of the credit institution in the event of its transfer to the Agency; 6) develops approaches to the restructuring of the credit institution. Article 10. The decision to transfer a credit institution to Agency Management. Failure to accept a credit organization managed by the Agency 1. The Agency is entitled to decide to transfer the credit institution to the Agency or to refuse to accept a credit organization under Agency management. 2. When the Agency adopts the decision to transfer the credit institution to the Agency, it is entitled to decide to reduce the authorized capital of the credit institution to the amount of its own funds (capital) and to further increase the charter capital of the organization. The capital of the credit institution. 3. If the Agency decides to reduce the authorized capital of the credit institution to the amount of its own funds (capital), it shall publish a communication about this decision in the Bank of Russia's Bulletin for 15 days from the date of such decision. 4. The Agency has the right to refuse to transfer the credit institution to the Agency for one of the following reasons: if the restructuring of the credit institution does not meet the organizational and (or) the Agency's financial capacity; If, in accordance with the Agency's conclusion, the restructuring of the credit institution is ineffective; if the credit institution was found to be examined, that a credit institution doesn't really have a federal law. applied in accordance with article 2, paragraph 3, of this Federal Law; , if the credit institution was examined, it was found that there was no basis for the transfer of the credit institution to the Agency under the terms of Article 3 of this Federal Act. 5. The decision to transfer the credit institution to the Agency shall be published in the Bank of Russia's Bulletin for 15 days from the date of its adoption. 6. The Agency is obliged to notify the Bank of Russia in case of refusal to accept a credit institution under its control no later than the day following the day of its decision. Bank of Russia within 15 days from receipt of the said notice if there are grounds established by the Federal Law "On Banks and Banking" ", decides to withdraw the license from the credit institution to carry out banking operations. Article 11. Reduce the authorized capital of the credit organization to the value of its own means (capital) 1. The amount of the credit institution's own funds (capital) is calculated according to the rules established by the Bank of Russia in accordance with the Federal Law " O. Central Bank of the Russian Federation (Central Bank of the Russian Federation). If the value of its own funds (capital) is negative, the authorized capital of the credit institution is reduced to one ruble. 2. The Agency's decision to reduce the authorized capital of the credit institution to its own funds (capital) is subject to immediate execution. On the basis of this decision of the Agency, the interim administration is obliged to carry out actions aimed at bringing the constituent documents of the credit institution into line with the decision taken. 3. When the authorized capital of the credit institution is reduced to the value of its own funds (capital), the provisions of federal laws and other regulatory legal acts are not applied by the Agency's decision: on mandatory notification creditors ' right to demand from the credit organization the termination or early performance of its obligations and the payment of related damages; on the right of creditors to be required from the credit organization to terminate or advance the performance of its obligations and the reimbursement of related losses; The need for liquidation of a credit institution if its net assets (own funds) become less than the minimum authorized capital. 4. The authorized capital of a credit institution operating in the form of a joint-stock company cannot be reduced by the purchase by the Agency and/or the credit organization of the shares of the credit institution of the shareholders in order to reduce their total quantity. 5. The founders (participants) of the credit institution are entitled to demand from the credit institution the return of the value of their share (deposits) in the amount not exceeding their liquidation value at the time of the Bank of Russia's proposal to transfer the credit institution is administered by the Agency. Article 12. Increase the authorized capital of the credit organization 1. In the decision of the Agency to increase the authorized capital of the credit institution, the interim administration is obliged to carry out actions aimed at increasing the authorized capital by additional issue of shares or introduction by the Agency Additional contribution to the authorized capital. The size of the additional issue or contribution of the Agency must be sufficient for the credit institution to be deemed to be transferred to the Agency under this Federal Act. 2. In case of acquisition by the Agency of shares (shares) of the credit institution in its transition to the Agency is not subject to the requirement: the need to obtain prior approval of the Bank of Russia for the purchase of shares (shares) Credit organization and the obligation to notify the Bank of the Russian Federation on the implementation of the acquisition transaction; on the need for the Federal Anti-Monopoly Authority to report on compliance with the antitrust rules; of 30 per cent or more of ordinary shares the credit institution, which is a joint-stock company; on compliance with the minimum size of the authorized capital of the credit institution established by federal law and Bank of Russia regulations on the date of the state registration credit institution. Article 13. Impact of the credit organization's transition under Agency Management 1. The credit institution shall be deemed to have been administered by the Agency since the purchase by the Agency of shares of the credit institution in accordance with article 12 of this Federal Law. The state registration of changes to the constituent documents of the credit institution in connection with the increase of its authorized capital shall not exceed 30 days from the date of submission of the interim administration to the Bank. Russia documents on the state registration of relevant amendments to the constituent documents. (...) (...) N 31-FZ) 2. The Bank of Russia has not applied measures to the credit institution managed by the Agency until the end of the term of the credit institution's administration until the end of the term of its restructuring plan. Liability for violation of banking supervision requirements, supervision of credit institution as a professional participant in the securities market, as well as not to recover from the credit institution the amount of unposted reserves and fund deposits in the Bank of Russia imposes fines for breach of mandatory reserve requirements; 2) mandatory reserves are deposited by a credit institution in accordance with the procedure established by the Bank of Russia, taking into account the characteristics defined in paragraph 4 of this Regulation. Article 3 (3) introduces a moratorium on the settlement of claims by creditors of the credit institution on its obligations arising prior to the transfer of the credit institution to the Agency, in accordance with article 26 of the Federal Act. { \cs6\f1\cf6\lang1024 } Credit { \cs6\f1\cf6\lang1024 } { \cs6\f1\cf6\lang1024 } { \cs6\f1\cf6\lang1024 } Credit { \cs6\f1\cf6\lang1024 } Disseminates monetary obligations and mandatory payments that arose prior to the Agency's decision to transfer the credit institution to the Agency. The credit institution's obligations arising after the transfer of the credit institution to the Agency are subject to full compliance by the credit institution. The Moratorium on the requirements of creditors of the credit institution is valid for up to 12 months and may be extended by the Agency, but not for more than six months, or canceled by the Agency before the expiry of its term. The decision to cancel the moratorium is to be published in the Bank of Russia's Bulletin and may be published in the mass media. 3. The Bank of Russia, on the basis of a decision on the transfer of a credit institution to the Agency under paragraph 1 of this article, makes a recording in the Book of State Registration of Credit Organizations that the credit institution is under Agency. 4. From the moment of its transfer to the Agency, the credit institution is granted an extension of the amount of unfunded funds to the obligatory reserves held in the Bank of Russia until the end of the credit institution's restructuring plan. organization. The period may be extended by a decision of the Bank of Russia. The credit institution is obliged to make a monthly calculation of the obligatory reserves to be deposited and submit it to the Bank of Russia in the order established by the Bank of Russia. The amount of unfunded reserve funds deposited in the Bank of Russia is to be replenked by the deadline agreed with the Bank of Russia. In the case of a breach by the credit organization of the procedure for the formation of the mandatory reserves set out in this article, by more than one reporting date, the deferer of the payment of the unfunded amount to the mandatory reserves, Deposits in the Bank of Russia are terminated. 5. The founders (participants) of the credit organizations which had the right to give orders to the credit organization or who had the possibility to determine its actions otherwise would have the subsidiary responsibility for the decision of the court. The obligations of the credit institution to creditors in the event that the credit institution is brought to the financial state referred to in article 3 of this Federal Law. The Agency is obliged, in case of a decision on the transfer of the credit institution to the Agency, to file suits for the prosecution of such persons. Chapter III. RESTRUCTURING OF THE CRITICAL ORGANIZATION Article 14. The Agency's authority over a credit Agency Agency 1. The Agency is entitled to the credit institution under its administration: 1) to decide on the implementation of measures for the financial rehabilitation of the credit institution provided for by the Federal Law. " On insolvency (bankruptcy) of credit institutions"; 2) increase and decrease the authorized capital of the credit institution; 3) to decide on the reorganization of the credit institution; 4) to sell or otherwise transfer rights to shares (shares) owned by the Agency to third parties; 5) in accordance with article 17 of this Federal Act Recognition of transactions made by a credit institution within three years prior to the transfer of the credit institution to the Agency, invalid; 6) to provide loans, place deposits, provide security, provide Other types of financial assistance to the credit institution; 7) implement other measures and activities to restore the financial position of the credit institution; 8) implement procedures for liquidation of the credit institution. 2. The Agency implements the measures specified in paragraph 1 of this article through the credit institution management bodies in accordance with the procedure established by federal laws and approved by the credit institution's constituent instruments. The Agency has the right to exercise these powers on its own behalf, if this is the result of a substantive relationship with the restructuring of credit institutions. 3. In carrying out the restructuring activities of the credit institution, the Agency satisfies the creditors ' requirements in order and priority, which are provided for under the civil legislation of the Russian Federation. Article 15. The credit organization restructuring plan 1. The Agency carries out restructuring activities of the credit institution on the basis of the restructuring plan of the credit institution, the implementation of which should not exceed three years from the date of the credit institution's management. 2. The restructuring plan of the credit institution should include: 1) the restructuring of the credit institution's obligations; (2) measures to create reserves that have been set up Federal laws and regulations of the Bank of Russia; (3) measures to achieve the credit institution's compliance with the mandatory rules established by federal laws and regulations of the Bank of Russia. 3. The schedule of the restructuring of the credit institution may be extended by the Agency for a period of not more than 12 months, in agreement with the Bank of Russia. 4. Information on the restructuring plan of the credit institution and the course of its implementation is provided by the Agency to the Bank of Russia at its request. Article 16. A { \b } { \b } { \b } { \b } { \b } { \b } Once the credit institution is administered by the Agency, it is entitled to be suspended for a period of not more than one month from the performance of its duties, or to restrict the powers of the heads of the executive bodies, the chief accountant, the heads of branches OF THE PRESIDENT OF THE RUSSIAN FEDERATION 2. Dissolution of contracts (contracts) with persons referred to in paragraph 1 of this article shall be carried out in accordance with the requirements of the legislation of the Russian Federation on labour and the terms and conditions of contracts (contracts), taking into account the characteristics of the A true federal law. In the event of the termination of the contract (s), the persons in question are entitled to compensation in the amount of 20 minimum wages established by federal law if the lesser amount of compensation is not covered by the relevant contract (agreement). 3. In the case of the suspension of persons referred to in paragraph 1 of this article, the Agency shall be entitled to withhold payment of salaries. 4. Since the Agency's decision to suspend the persons referred to in paragraph 1 of this article, transactions entered into by these persons shall be null and void. Since the Agency's decision to restrict the powers of the persons referred to in paragraph 1 of this article, transactions concluded by them in excess of the authority granted are null and void. Article 17. Recognition of transactions concluded by a credit by an organization is invalid. The Agency's refusal from the execution of the credit institution's contracts 1. Transactions by a credit institution within three years of the Agency's decision on the transfer of a credit institution to the Agency may be declared invalid by the arbitral tribunal upon application by the Agency, on the basis of of the Russian Federation's civil legislation, or if the terms of the transaction with an affiliated person provide for a significant benefit in comparison with similar transactions, prisoners according to the existing arrangements at the time of the transaction customs of business. 2. The agency has the right to refuse to perform the credit institution's contract in the cases and in the manner prescribed by the Federal Law " On insolvency (bankruptcy)". Article 18. Sale of assets of a credit institution Agency-managed 1. The Agency is selling the assets of a credit institution managed by the Agency in open tendering. The valuation of the assets of the credit institution charged by the Agency for sale is carried out by an independent appraiser. 2. The assets of the credit institution, which are limited to the restricted equipment, may be sold only in closed trading. Persons who, in accordance with federal laws, may have property or other proprietary rights in accordance with federal law may participate in closed tendering. 3. The Agency may either act as the organizer of the tender or designate a specialized organization to bid on the basis of a contract. The specialized organization conducting the bidding shall not be affiliated to the credit institution with a person. 4. The assets of the credit institution, which have not been sold in the first trades, are submitted for re-sale. The assets of the credit institution not sold at the rebidding are implemented by the Agency under a sales contract concluded without bidding. Article 19. { \cs6\f1\cf6\lang1024 } { \cs6\f1\cf6\lang1024 } { \cs6\f1\cf6\lang1024 } { \b } In order to satisfy the creditors ' claims, the restructuring plan of the credit institution may provide for the sale of the business (business) of the credit institution (hereinafter referred to as the sale of the credit institution's business). When selling business to a credit institution, it is possible to sell structural, including separate, and functional units of the credit institution. 2. In the case of a relationship with the sale of a business to a credit institution in accordance with this article, the Federal Law " "(bankruptcy)", unless otherwise established by this article or is not derived from the substance of the legal relationship associated with the restructuring of the credit institution. 3. The sale of the business of a credit institution is carried out without the participation of the meeting (committee) or union of creditors. 4. The Agency is the organizer of the bidding process, which attracts the specialized organization with the payment of services to the latter at the expense of the assets of the credit institution. The valuation of the credit institution's business to be sold by the Agency is carried out by an independent appraiser. 5. The agency is obliged to publish a notice of the sale of the business of the credit institution in open tendering in the "Bank of Russia's Bulletin" and (or) in the official publication of the state authority for bankruptcy and financial recovery for at least 30 days. before the date of the tender. Article 20. The creation by the Agency of new credit organizations to implement the restructuring procedures Credit Organization 1. In order to implement the restructuring procedures of a credit institution managed by the Agency, including restructuring of its assets (liabilities), the Agency has the right, in accordance with the restructuring plan of the credit institution, to establish A new credit institution and (or) acquire shares (shares) of the operating credit institution on terms enabling it to determine the actions (s) of the said credit institution. The sale (transfer) of assets of the restructured credit institution is carried out for the purposes of this article after assessment by their independent appraiser. The proceeds from the sale (transfer) of assets of the restructured credit institution are sent to satisfy the requirements of its creditors. The obligations of the restructured credit institution are translated into compliance with the requirements of the Russian Federation's civil law on the transfer of debt. 2. New credit institutions, created at the initiative of the Agency, must have the authorized capital not less than the minimum authorized capital provided by federal laws and regulations of the Bank of Russia for non-bank credit institutions. organizations in the field of calculation. The Agency must be the sole founder (participant) of the new credit institution created by its initiative. A document confirming that the new credit institution created by the Agency is being introduced into the unified state register of legal entities is issued by the Bank of Russia within 30 days from the date of its establishment. The Agency's application for the establishment of a new credit institution and a banking licence is no later than three days from the date of full payment of the authorized capital. (In the wording of Federal Law 21.03.2002) N31 FZ) How do I make decisions about the state registration of credit institutions created by the Agency, licensing their activities, the list and the size of banking institutions? The Bank of Russia is established by the Bank of Russia in accordance with this Federal Law and other federal laws. (...) (...) N 31-FZ) 3. The Bank of Russia has the right to refuse to grant a license to carry out banking operations of the new credit institution created at the initiative of the Agency, in case of incompatibility of its constituent documents with the requirements of the federal laws and laws adopted by the Bank. According to them, the Bank of Russia regulations and the (or) non-conformity of the persons proposed for appointment to the posts of heads of the new credit institution created at the initiative of the Agency and its chief accountant, of the Bank of Russia in accordance with Federal Law " About Banking and Banking " 4. The Agency is entitled to use the borrowed capital to form the authorized capital of the credit institutions defined in paragraph 1 of this article. 5. Provisions of the Federal Law "On Banks and Banking Activities" regarding the establishment and licensing of the activities of new credit institutions, shall be established at the initiative of the Agency and shall be applied in a part not contrary to the provisions of this article. Article 21. The sale by the Agency of its shares (shares) The Agency implements its shares (shares) of the credit institution in open tendering in accordance with its restructuring plan. Article 22. Elimination of the credit organization by the decision Agency 1. The Agency has the right, through the management bodies of the credit institution, to decide on the liquidation of a credit institution under the Agency's administration if it has sufficient grounds to believe that further implementation of the activities will be impossible. The financial rehabilitation of the credit institution. On the basis of the decision, the Agency appeals to the Bank of Russia for revocation (withdrawal) from the credit institution of a banking license. 2. In case the Bank of Russia takes a decision to revoke the license from the credit institution, the Bank of Russia's license to conduct banking operations will notify the Bank of Russia, as well as the decision taken by the Agency to liquidating the credit institution. Article 2 of the Federal Law "On State Registration of Legal Persons and Individual Entrepreneurs" of the federal executive branch of the executive branch of government, which contributes to a single state register Legal persons record that the credit institution is in the process of liquidation . (In the wording of the federal laws of 21/02/2002, N 31-FZ; of 08.12.2003 N 169-FZ) 3. The Agency is responsible for the liquidation of the credit institution for which the Agency has decided to eliminate it. The agency is the liquidator of the credit institution. 4. If the liquidation process establishes that the assets of the credit institution are not sufficient to fulfil its obligations to all creditors, the Agency is required to apply to the court in accordance with the requirements of chapter X, § 1 of the Federal Act " On insolvency (bankruptcy) ". The agency. CHAPTER IV. RESTRUCTURING OF THE COMMITMENTS OF THE CREDIT ORGANISATION Article 23. Conclusion of the World Agreement 1. In order to restructure the credit institution, the credit institution and its creditors have the right to conclude a settlement agreement. Towards the conclusion and approval of a settlement agreement in the restructuring of a credit institution, unless otherwise provided for by this Chapter, or arises from the substance of the legal relationship associated with the implementation of this Federal The law applies the relevant rules of the world agreement established by the Federal Law "On Insolvency (Bankruptcy)". The Agency is obliged to send to creditors of a credit institution managed by the Agency a proposal on the terms of the settlement agreement no later than one month from the date of the transfer of the credit institution to the Agency. 2. The decision to enter into a settlement agreement on behalf of creditors is taken by the creditors ' association. The decision by creditors to enter into a settlement agreement is taken by a majority vote of the total number of creditors and is deemed to have been accepted provided that all creditors have voted in favour of the secured obligation credit institution. The Agency shall decide on the conclusion of a settlement agreement by the credit institution. 3. The arbitral tribunal shall apply to the arbitral tribunal for the approval of the settlement agreement, and the arbitral tribunal shall render an appropriate determination. On the date of the review of the declaration of the settlement of the settlement agreement, the arbitral tribunal shall notify the parties concerned. Failure of the persons to appear before them shall not preclude the consideration of the application. 4. In the event of a failure by the lenders to agree to the terms of the settlement agreement within 45 days of the Agency's proposal for the terms of the settlement agreement, the Agency is entitled to restructure the credit institution in the in accordance with the terms and conditions of restructuring of its obligations, approved by the restructuring plan of the said credit institution. Creditors who do not agree with the restructuring plan of the credit institution have the right to demand from the credit institution to satisfy their claims in the amount not exceeding the size of their claims in case of liquidation of the credit institution in the case of liquidation of the credit institution. The procedure provided for by the Federal Law "On the insolvency (bankruptcy) of credit organizations" and in terms of the duration of the liquidation period of the credit institution in the course of the insolvency proceedings. Article 24. Consolidation of creditors 1. Participants in the association of creditors with voting rights are creditors, as well as tax and other authorized bodies (organizations) on mandatory payment requirements (hereinafter creditors). The organization and holding of meetings of the association of creditors are carried out by the Agency or on its behalf by the head of the credit institution. 2. Consolidation of creditors is entitled: to form a dispute resolution body on the size of the creditors ' claims, to approve the order of its creation and operation; to decide on the conclusion of a settlement agreement. 3. Creditors at the meeting of the creditors ' association have the number of votes proportional to the amount of the creditor's claim at the time the credit institution is administered by the Agency. In determining the number of votes, the size of the non-frames (penalties, fines) is not taken into account. When the first meeting of the creditors ' union is held, the number of creditors is determined by the credit institution's debt data as reflected in its balance at the reporting date prior to the date of transition the credit institution is administered by the Agency. 4. The meeting of creditors ' association is entitled, regardless of the number of creditors, provided that the time and place of the meeting has been duly notified to creditors. Decisions at a meeting of creditors ' union shall be made by a majority vote of the creditors present at the meeting, unless otherwise provided by this chapter. 5. The agency has the right to propose the unification of creditors by the rules of association of creditors, as well as the procedure for formation and activity of the body for the consideration of disputes on the amount of claims of creditors. Article 25. The procedure for convening a meeting of the creditors ' union 1. A meeting of the creditors ' association is convened at the initiative of the Agency and (or) creditors whose claims and/or mandatory payments make up at least one third of the total amount of claims made to the register of claims creditors, or on the initiative of one third of the creditors. 2. The meeting of the creditors ' association at the request of creditors shall be convened by the Agency within one month from the date of the creditor's application to the Agency. 3. The meeting of the creditors ' association is held at the location of the credit institution. Article 26. Register of creditor claims 1. The Agency shall maintain a register of creditor claims. 2. The creditor claims register specifies the particulars of each creditor, the amount of its obligations under the monetary obligations and (or) the mandatory payments at the time of the loan organization to be administered by the Agency, and the order of priority the satisfaction of each requirement. 3. Differences arising between creditors and the Agency on the composition, size and priority of claims for monetary obligations and (or) mandatory payments are reviewed by a body created by a creditor association. Article 27. The representation of the interests of the Russian Federation in concluding a settlement agreement 1. In concluding a settlement agreement with a credit institution, including voting on its conclusion, the Agency has the right to represent the interests of the Russian Federation on compulsory payments and the interests of the Russian Federation as a creditor OF THE PRESIDENT OF THE RUSSIAN FEDERATION 2. In order to conclude a settlement agreement under the debt of credit institutions, the Russian Federation's mandatory payments are understood to be the debts of credit organizations as independent taxpayers, as well as the debt of credit institutions. Organizations for payment to the federal budget (extra-budgetary funds) of taxes and fees of their clients, including assessed fines and penalties. 3. The State authorities of the constituent entities of the Russian Federation and local authorities are entitled, at the request of the Agency, to grant them the right to submit their interests on mandatory payments to the relevant budgets (extrabudgetary funds) and as creditors. Chapter V. AGENCY FOR RESTRUCTURING CREDIT ORGANIZATIONS Article 28. The Agency for Restructuring Credit Organizations 1. The Agency for the Restructuring of Credit Organizations is a public corporation established by the Russian Federation, a status, a purpose whose functions and powers are determined by the Federal Law " About non-profit organizations" and this Federal Law. 2. The profit was not an objective of the Agency. The Agency has the right to conduct business activities in accordance with this Federal Law only insofar as it serves the purpose for which it is established. The profits resulting from the Agency's business activities are sent by the Agency to the restructuring of credit institutions. 3. The Agency has an image of the State Emblem of the Russian Federation and its name. 4. The Agency has the right to have an account with the Bank of Russia. 5. The city of Moscow is the headquarters of the Agency. Article 29. The purpose of the Agency's activities and functions is 1. The Agency's activities are aimed at restructuring the credit institutions managed by the Agency in accordance with the requirements and procedures established by this Federal Law. 2. The Agency carries out the following functions: takes on the management of credit organizations; participates in the formation of the management bodies of the credit institutions administered by the Agency; carries out the restructuring of the credit institutions managed by the Agency; attracts the necessary funding for the restructuring of credit institutions; creates organizations, including credit, required for implementation The tasks and functions of the Agency; cooperate with the Government of the Russian Federation and the Bank of Russia in the implementation of restructuring activities of credit organizations; performs other functions aimed at achieving the Agency's objectives. Article 30. The relationship between the Agency, the state and the Bank of Russia 1. The federal bodies of state power, the bodies of State power of the constituent entities of the Russian Federation, local government bodies and the Bank of Russia have no right to interfere in the activities of the Agency for the implementation of the legal rights reserved for them. functions and powers. 2. The Agency and the Bank of Russia inform each other about their decisions and actions regarding the restructuring procedures, coordinate their actions and hold regular consultations on restructuring issues of credit institutions. The Agency is obliged, at the request of the Bank of Russia, to provide it with information on the financial status and activities of the credit institutions administered by the Agency. Article 31. Agency property 1. The property of the Agency is derived from the transfer of property owned by the Russian Federation to the property of the Agency, as well as from the proceeds of the issuance of emissive securities, The implementation of the shares (shares) of credit organizations and other legal receipts. 2. The property transferred to the Agency by the Russian Federation is the property of the Agency. The Russian Federation is not in charge of the Agency's obligations, and the Agency is not in charge of the obligations of the Russian Federation. The Agency is responsible for all of its assets. 3. The Agency uses its assets to carry out restructuring activities of credit institutions. Article 32. Agency operations and transactions 1. In the event of restructuring of credit organizations, the Agency is entitled to carry out the following operations and transactions: 1) to provide loans to credit institutions administered by the Agency; 2) To open and maintain bank accounts of the credit institutions administered by the Agency; 3) on behalf of the Agency-administered credit organizations on their bank accounts; 4) Collection of promissory notes, payment and settlement documents; 5) Buy-sale in open trading, transfer as collateral for the shares (shares) of credit organizations managed by the Agency; 6) buy-sell at market value, transfer as collateral for bonds, savings and deposit certificates, cheques, simple bills and bills of exchange and other securities; 7) financing the assignment of the right to credit organizations and to borrowers of credit organizations; 8) the issuance of surety; bank guarantees, promissory notes and issuance of bonds and other debt of the Government of the Russian Federation; 9) to provide loans, to place deposits, to provide security to third parties, the acquiring shares (shares) of the credit institution, its assets and (or) receiving it obligations; 10) to place temporarily free funds in accordance with the procedure established by the Board of Directors; 11) other transactions, transactions in accordance with this Federal Law. Operations and transactions are carried out by the Agency in roubles and in foreign currency. 2. The list of securities and other assets taken to secure the Agency shall be determined by the Board of Directors of the Agency. 3. The Agency has no right to trade, except for the sale of assets of credit institutions, as well as production and insurance activities. 4. The Agency is entitled to carry out professional activities in the securities market in accordance with the Federal Law "About the securities market". Article 33. The Agency's organs of Agency's management are the Board of Directors of the Agency, the Agency's Board and the Director General of the Agency. Article 34. The Agency's Board of Directors 1. The Agency's Board of Directors is the Agency's Board of Directors. The Board of Directors of the Agency consists of 13 members-seven representatives of the Government of the Russian Federation, five representatives of the Bank of Russia and the Director General of the Agency. The Director General of the Agency is a member of the Board of Directors of the Agency. The Chairman of the Board of Directors of the Agency is elected by the Board of Directors of the Agency on the submission by the Government of the Russian Federation. 2. Meetings of the Board of Directors shall be convened by the Chairman of the Board or not less than one third of the members of the Board of Directors of the Agency, as required, but at least once every two months. The Board of Directors of the Agency has the authority to make decisions if at least half of its members are present. Decisions of the Board of Directors of the Agency shall be made by a simple majority of those present. In the case of the equal number of votes, the presiding officer of the Board of Directors of the Agency shall be decisive. The Board of Directors of the Agency is chaired by the Chairman of the Board of Directors and, in his absence, by a person authorized by the Chairman of the Board of Directors of the Agency. The Minutes of the meeting of the Board of Directors of the Agency shall be signed by the presiding officer of the meeting of the Board of Directors of the Agency. The opinion of the members of the Board of Directors of the Agency shall be recorded on the basis of their request for the vote of the remaining members of the minority. Article 35. Authority of the Board of Directors of the Agency Board of Directors: makes decisions on the transfer of a credit organization to the Agency and the refusal to accept a credit institution to be administered by the Agency; makes a decision on transactions, including related transactions carried out by the Agency, and related to the acquisition or acquisition or the possibility of the Agency's acquisition of property directly or indirectly worth more than 5 interest on the balance sheet value of the Agency at the date of the decision The conclusion of such transactions; makes the decision to send a request to the Bank of Russia for revocation (revocation) from a credit institution managed by the Agency, a banking licence; approves the Agency's organizational structure; approves the Agency's cost estimates and the profit order of the Agency; approves an annual report on the Agency's activities; relieved of the post of the Director General of the Agency; appoints and dismisals Agency Board members; appointed the Agency's auditor; hears reports from the Agency's Director General for Agency Affairs; the Agency's participation in other organizations; approves the establishment of branch offices and the opening of the Agency's offices; approves the Agency's rule of work; the Agency's internal audit service; accepts The decision to issue the Agency's bonds and other debt obligations; exercised the other powers provided for by this Federal Law. Article 36. Agency Management Board 1. The size of the Agency's board is determined by the Board of Directors of the Agency. The Agency's Director General is a member of the Agency's Management Board and supervises the Agency's management. 2. Agency members, with the exception of the Director General of the Agency, are appointed for a five-year term by the Board of Directors of the Agency, on the proposal of the Director General of the Agency. The Agency's Board of Directors is a permanent member of the Agency. 3. The members of the Board may be removed from office: upon the expiration of the term of office referred to in this article-the Director General of the Agency; until the expiration of the term of office referred to in this article- The Board of Directors of the Agency, upon presentation of the Director General of the Agency. 4. The Agency's Board of Directors acts on the basis of the Board of Directors approved by the Board of Directors, which sets out the terms and modalities for the convening and holding of its meetings, as well as the procedure for taking decisions. The protocol is maintained at the Agency's Board meeting. The minutes of the Agency's board meeting shall be submitted to the members of the Board of Directors of the Agency, the external auditor and the internal auditor upon their request. The Agency's Board of Directors is organized by the Director General of the Agency or by a person authorized by the Agency. The minutes of the Board meeting are signed by the presidencies of the Board and a member of the Board of the Agency present at the meeting. Article 37. Authority of the Agency Board of the Agency: takes a decision on the modalities for the restructuring of the credit institutions managed by the Agency, approves plans Restructuring of Agency-administered credit organizations; makes a decision on transactions, including related transactions carried out by the Agency, and related to acquisition or acquisition or capability the sale of property, directly or indirectly, by the Agency represents 1 to 5 per cent of the carrying amount of the Agency's assets at the date of the decision to enter into such transactions; considers the Agency's annual report and submits it to the Agency's Board of Directors; submits The Board of Directors of the Agency for the distribution of the Agency's profits; approves the staffing table of the Agency, determines terms of employment, dismissal, duties and rights, system of disciplinary sanctions, size and forms of payment Agency employees; implements other The powers provided for in this Federal Act are not within the competence of the Board of Directors of the Agency. Article 38. Director General of the Agency 1. The Director General of the Agency is appointed by the Board of Directors of the Agency, on the advice of the Chairman of the Board of Directors of the Agency for a period of five years. The Director-General of the Agency shall be presented to the Board of Directors of the Agency one month before the end of the term of office of the Director General of the Agency. 2. The Director General of the Agency may be relieved of his post by the Board of Directors of the Agency, upon presentation by the Chairman of the Board of Directors of the Agency in the following cases: the expiry of his term of office; The resignation of the Chairman of the Board of Directors of the Agency; the activities of the Agency for Restructuring of credit institutions. Article 39. Authority of the Agency's Director General Director General of the Agency: acts on behalf of the Agency and represents without a power of attorney his interests in relations with public authorities, foreign organizations States and international organizations, other institutions and organizations; heads the Agency's board and arranges for the implementation of Agency management decisions; issue orders and directives on business Agency; distributes responsibilities among its own { { \cs6\f1\cf6\lang1024 } { \cs6\f1\cf6\lang1024 } { \cs6\f1\cf6\lang1024 } { \cs6\f1\cf6\lang1024 } { { \cs6\f1\cf6\lang1024 } { { \cs6\f1\cf6\lang1024 } { { \cs6\f1\cf6\lang1024 } { { \cs6\f1\cf6\lang1024 } { } } { \cs6\f1\cf6\lang1024 } { { \cs6\f1\cf6\lang1024 } { } } Agency and Agency Board. Article 40. Agency employees 1. Employees of the Agency are not entitled to engage in other paid activities, with the exception of scientific, teaching and other creative activity. 2. Employees of the Agency are not entitled to own shares (shares) of credit organizations. Article 41. { \cs6\f1\cf6\lang1024 } Agency { \cs6\f1\cf6\lang1024 } { \cs6\f1\cf6\lang1024 } Information { \cs6\f1\cf6\lang1024 } The Agency is entitled to receive information constituting the commercial, professional and banking secrecy of the credit institution. 2. The Agency guarantees non-disclosure of information about the activities and operations of credit organizations and their clients, if the information has become known to the Agency in carrying out its functions as set out in this Federal Law. This restriction does not apply to relations between the Agency and the Bank of Russia. In the event of disclosure by the Agency of information constituting a bank secret, the credit institution whose rights have been violated is entitled to claim damages from the Agency. 3. Members of the Agency are required not to disclose information about the activities and operations of the Agency, credit organizations, shares (shares) of which the Agency owns and (or) the assets of which has acquired, as well as other information that has become known to them in performance their duties and responsibilities. Article 42. Agency reporting. Accounting Agency Accounting 1. The Agency's reporting period is from 1 January to 31 December inclusive. 2. The Agency prepares an annual report of the Agency no later than 15 February of the year following the reporting year. 3. The Agency's annual report includes: an account of the Agency's activities in the last reporting period, with an analysis of the Agency's implementation of the restructuring of credit institutions and the use of the Agency's assets; A annual accounting balance with the Agency's asset and liability structure; report on the use of funds allocated to the Agency's current expenditure; report on the use of the Agency's profits; Internal audit service of the Agency. The reliability of the annual accounting balance and the Agency's profit report is confirmed by an independent audit organization. 4. The annual report is approved by the Board of Directors of the Agency until 15 March following the reporting year. The annual report, once approved by the Board of Directors of the Agency, is sent to the President of the Russian Federation, the Federal Assembly of the Russian Federation, the Government of the Russian Federation and the Bank of Russia. The reported data about the Agency's activities and its annual balance sheets are to be published in the Bank of Russia's Bulletin. 5. The accounting records of the Agency are determined by the Bank of Russia. Article 43. Agency audit 1. The Agency's Board of Directors defines an audit firm each year to verify the Agency's annual report. 2. The Agency's internal audit is carried out by an internal audit service, which reports to the Board of Directors of the Agency. The procedure for the establishment and operation of the internal audit service shall be determined by the Board of Directors of the Agency. 3. The Board of Directors of the Agency has the right to decide on the holding of the Agency's extraordinary audit and audit. Article 44. Disputes involving the Agency 1. The founders (participants) of the credit institution, other interested persons have the right to appeal the decision of the Agency to the court in accordance with the procedure established by the legislation of the Russian Federation. The appeal to the court does not stop the decisions of the Agency until the court's decision becomes enforceable. 2. Disputes involving the Agency with respect to its transactions in the exercise of civil rights and duties are resolved in a general manner. Article 45. The reorganization and liquidation of the Agency The Agency may be reorganized or eliminated under the relevant federal law governing the reorganization (liquidation) and the use of the Agency's property. Chapter VI: FINAL PROVISIONS Article 46. Entry into force of this Federal Law 1. This law shall enter into force on the date of its official publication. 2. Invite the President of the Russian Federation to instruct the Government of the Russian Federation and the Bank of Russia within three months from the date of the entry into force of this Federal Law to bring its regulatory legal acts into conformity with the present law. Federal law. 3. To instruct the Bank of Russia to provide official explanations on the application of this Federal Law, which is binding on the whole territory of the Russian Federation. 4. Since the date of the entry into force of this Federal Law: consider an open joint stock company a non-bank credit organization "Agency for Restructuring Credit Organizations" converted to a state corporation " Agency "The restructuring of credit organizations"; the powers of the Shareholders Meeting of the Open Joint Stock Company "The Restructuring of Credit Organizations Agency" is terminated in accordance with the present report. The Federal Law is transferred to the board of directors State Corporation "Agency for Restructuring of Credit Organizations"; authority of the Board of Directors, Board and Director General of Open Joint Stock Company Non-bank Credit Organization " Agency for The restructuring of credit organizations "in accordance with this Federal Law passes to the Board of Directors, the Board and the Director General of the State Corporation" Restructuring of Credit Organizations ", respectively. The State Corporation "Agency for Restructuring of Credit Organizations" is the legal successor of the Open Joint Stock Company "Restructuring of Credit Organizations Agency" by all. The rights and obligations of the latter, including those relating to contracts of employment. 5. State Corporation "Agency for Restructuring of Credit Organizations" carries out restructuring plans of credit institutions approved by open joint-stock company "Agency for Restructuring" "by the date of the entry into force of this Federal Law, regardless of the share of the open joint-stock company's non-bank credit organization" Agency for Restructuring Credit Organizations " in the authorized capital credit institution. President of the Russian Federation B. Yeltsin Moscow, Kremlin 8 July 1999 N 144-FZ