On The Restructuring Of Credit Institutions

Original Language Title: О реструктуризации кредитных организаций

Read the untranslated law here: http://pravo.gov.ru/proxy/ips/?doc_itself=&infostr=x&backlink=1&fulltext=1&nd=102060919

Lost effect on July 28, federal law N 87-FZ of the RUSSIAN FEDERATION federal law on restructuring of credit institutions adopted by the State Duma June 25, 1999 the year approved by the Federation Council of the year July 2, 1999 (as amended by the federal laws from 21.03.2002 N 31-FZ;
from 08.12.2003. N 169-FZ) Chapter i. General provisions article 1. Subject of this federal law 1. This federal law establishes the procedure and conditions for the implementation of the restructuring of credit institutions.
2. Matters relating to the implementation of the restructuring of credit institutions governed by the Constitution of the Russian Federation, this federal law, other federal laws and adopted in accordance with the regulations of the Government of the Russian Federation and the regulations of the Central Bank of the Russian Federation (hereinafter-the Bank of Russia).
Article 2. Restructuring of credit institutions 1. Under the restructuring of the credit institution in the sense of this federal law refers to the range of measures applicable to credit institutions and to overcome their financial fragility and restore solvency of either the implementation of liquidation of credit institutions in accordance with the legislation of the Russian Federation.
2. in order to implement the restructuring of credit institutions created the Agency for restructuring credit organizations (hereinafter referred to as the Agency). The status of the Agency, its functions and powers shall be determined by the present Federal law.
3. this federal law may be applied to the credit institution, if, within a period of six months preceding the decision on the direction of Bank of Russia proposals for the transfer of a credit institution under the authority of the Agency in accordance with this federal law, the credit organization: had the share of deposits not less than 1 per cent of total share of citizens ' deposits in credit institutions of the Russian Federation;
had a share of the assets of not less than 1 per cent of the aggregate share of the assets of credit institutions of the Russian Federation in the form granted to legal entities loans (loans), with the exception of loans (loans) granted to credit institutions;
had the share of deposits not less than 20 per cent of the total share of citizens ' deposits in credit institutions located in the territory of the Russian Federation;
had a share of the assets of not less than 20 per cent of the aggregate share of the assets of credit institutions located in the territory of the Russian Federation.
Article 3. The Foundation for the transition under the Agency's management of the credit institution, a credit institution may go under the Agency's control if the adequacy of its capital calculated in accordance with the Federal law "on the Central Bank of the Russian Federation (Bank of Russia)", does not exceed 2 per cent and it does not meet the requirements of the individual lenders on money obligations and (or) fails to comply with the obligation to pay obligatory payments in time exceed seven days after the date of their satisfaction and (or) execution due to the lack or insufficiency of funds on the correspondent accounts of the credit institution.
Article 4. Management Agency credit institution 1. For purposes of this federal law under the administration of the Agency's credit organization recognizes the implementation of the restructuring of the credit organization in conditions allowing the Agency to determine the decisions of the credit institution on matters within the competence of the general meeting of its founders (participants), including on its reorganization or liquidation.
2. Procedure of a credit institution under the control of the Agency shall be established by this federal law.
Article 5. The procedures used in accordance with this federal law in accordance with this federal law, the following procedures shall apply: a survey of the credit organization;
restructuring of the credit institution.
CHAPTER II. A SURVEY of the CREDIT ORGANIZATION Article 6. A survey of the credit organization 1. A survey of the credit institution applies to determine the ability of the Agency to adopt a credit institution under its control.
A survey of the credit organization begins with the receipt of proposals by the Agency of the Bank of Russia on the transition of a credit institution under the administration of the Agency and ends the moment of transition of a credit institution under the authority of the agency or the Agency's refusal to upgrade the credit organization under his control and shall not exceed 90 days.
2. Since the beginning of the procedure of the examination powers of founders (participants) of a credit organization to participate in its authorized capital stock, shall be suspended, with the exception of the powers referred to in paragraph 5 of article 11 hereof.
If the Agency decides to refuse acceptance of a credit institution under its control, the rights of founders (participants) of the credit institution are recovered in full from the date of adoption of the decision of the Agency.
Article 7. Proposal of the Bank of Russia on the transition credit

the organization under the control of the Agency 1. The Bank of Russia is obliged to send to the Agency proposal to move the credit organization under the control of the Agency within a period not exceeding seven days from the date of receipt of the bodies of the Bank of Russia responsible for deciding on the direction of this proposal, reliable information on the occurrence of the transition of a credit institution under the control of the Agency under this federal law. The Bank of Russia has the right not to send to the Agency proposal to move the credit organization under the control of the Agency, if a credit institution is implementing measures to prevent bankruptcy, stipulated by the Federal law "on Insolvency (bankruptcy) of credit institutions" and adopted in accordance with the Federal law the normative acts of the Bank of Russia. The proposal to move the credit organization under the Office of the Agency shall be adopted by the Board of Directors of the Bank of Russia and the Bank of Russia shall be signed by the Chairman or his Deputy.
2. the Bank of Russia has made the proposal to move the credit organization under the control of the Agency the following documents: copies of constituent documents of the credit institution and a license for carrying out banking operations;
copies of the accounting and financial reporting of the credit organization, heading for the Bank of Russia in the past 12 months;
copies of the annual financial statements of the credit organization for the last financial year and the auditor's report thereon;
materials of the last check of the credit organization, held by the Bank of Russia;
information about the founders (participants) of the credit organization, existing in the Bank of Russia, indicating participation in the share capital of the credit institution;
the conclusion of the Bank of Russia on the State of the credit institution.
3. the founders (participants) of a credit institution or other interested persons may appeal against the decision to the Court of the Bank of Russia of sending suggestions about moving a credit institution under the control of the Agency. Appeal against the decision of the Bank of Russia of sending the proposal to move the credit organization under the Office of the Agency shall not suspend his execution pending a court decision on the merits.
Article 8. The Interim Administration on the management of the credit institution 1. Bank of Russia no later than the day following the day the proposal on the transition of a credit institution under the control of the Agency, the credit institution shall appoint a temporary administration for the management of the credit institution (hereinafter referred to as the Interim Administration), acting in accordance with the Federal law on Insolvency (bankruptcy) of credit institutions "taking into account the peculiarities stipulated by this federal law.
The decision of the Bank of Russia on the appointment of the interim administration, in accordance with this paragraph may not be suspended in the case of a credit institution or a third party to the Court.
2. the Transitional Administration in the implementation of surveys implements powers under the Federal law on Insolvency (bankruptcy) of credit institutions "for the Transitional Administration in case of suspension of the authority of the executive bodies of the credit institution, as well as the right to perform the actions associated with the reduction of the Charter capital of a credit institution to its own funds (capital) and by the increase in the Charter capital of a credit institution.
3. The head of the interim administration, the person can be assigned to the corresponding requirements of the leaders of the interim administration of the Federal law on Insolvency (bankruptcy) of credit institutions ", as well as an employee of the Agency. Agency staff in the appointment of their leaders of the interim administration, in accordance with this federal law did not extend the Federal law on Insolvency (bankruptcy) of credit institutions ", except for the requirement of attestation.
The composition of the interim administration, appointed in accordance with this federal law, may include employees of the Agency, employees of the Bank of Russia, as well as other persons recommended by the Agency. Transitional Administration is determined by the order of the Bank of Russia on her appointment.
4. the Transitional Administration is obliged to carry out an analysis of the financial state of the credit institution and to submit its opinion on the outcome of the Bank of Russia and the Agency, as well as to provide the Agency, upon request of the Bank of Russia for more information on the financial situation of the credit institution and other information necessary to make a decision about moving a credit institution under the control of the Agency.
5. the Transitional Administration is valid from the date of his appointment, and in the case of the adoption of the Agency's decision to move the credit organization under the control of the Agency until the day of presentation to the Bank of Russia of the constituent documents of the credit organization for registration of changes, in accordance with article 12 hereof, and in case of refusal of the Agency from adopting the credit institution under the control of the Agency before the date of appointment to the credit institution of arbitration Manager (liquidator).

6. the convenor and the members of the interim administration shall not be liable for the obligations of the credit institution, a credit institution shall not be liable for obligations of the head and members of the interim administration. Claims against the credit institution does not suspend the activities of the interim administration. Chairman and members of the Interim Administration may be disciplinary and criminal liability in the event of such actions.
Article 9. Powers of the Agency in a survey of credit institution during the examination of the credit organization agency: 1) examines the financial condition of the credit institution and other data necessary for making a decision about moving a credit institution under the control of the Agency, estimates the size of assets (assets), liabilities and own funds (capital) of the credit organization;
2) receives from the interim administration information on the financial situation of the credit institution and other information necessary for making a decision about moving a credit institution under the administration of the Agency;
3) may apply to the Bank of Russia is requesting additional information required to make a decision about moving a credit institution under the administration of the Agency;
4) decides on the transition of a credit institution under the authority of the agency or the refusal of the credit organization transition under the authority of the Agency;
5) may apply to the Government of the Russian Federation and (or) organs of State power of the constituent entities of the Russian Federation for determining the types of financial assistance and (or) other forms of assistance in the event of a credit institution under the administration of the Agency;
6) develops approaches to restructuring of the credit institution.
Article 10. The decision to move the credit organization under the control of the Agency. Refusal to accept a credit institution under the control of the Agency 1. The Agency may decide to move the credit organization under the authority of the agency or to refuse to accept a credit institution under the control of the Agency.
2. When making the decision to move Agency credit organization under the administration of the Agency, it may adopt a decision to reduce the authorized capital of a credit institution to its own funds (capital) and the subsequent increase in share capital of the credit institution.
3. If the Agency decides to reduce the authorized capital of a credit institution to its own funds (capital), it is within 15 days from the date of such decision the message of this decision is published in the "Bulletin of the Bank of Russia".
4. the Agency shall have the right to refuse credit transition organization under the Office of the Agency for one of the following grounds: If the restructuring of the credit institution does not comply with organizational and/or financial resources of the Agency;
If, in accordance with the opinion of the Agency carrying out restructuring credit organizations is ineffective;
If a credit institution's survey revealed that the credit organization present Federal law cannot be applied in accordance with paragraph 3 of article 2 hereof;
If a credit institution survey revealed that there was no basis for the transition of a credit institution under the authority of the Agency in accordance with article 3 of this federal law.
5. The decision to move the credit organization under the Office of the Agency shall be published in the "Bulletin of the Bank of Russia" within 15 days from the date of its adoption.
6. in case of refusal of the Agency from taking credit institution under its control not later than the day following the day the decision is obliged to notify the Bank of Russia. Bank of Russia within 15 days of receipt of the notice specified in the presence of grounds stipulated by the Federal law "on banks and banking activities", takes the decision to withdraw from the credit organization license for carrying out banking operations.
Article 11. Reduction of the Charter capital of a credit institution to its own funds (capital) 1. The amount of own funds (capital) a credit institution shall be calculated according to the rules established by the Bank of Russia in compliance with the Federal law "on the Central Bank of the Russian Federation (Bank of Russia)".
A negative value of magnitude of own funds (capital) a credit institution authorized capital of a credit institution is reduced to one ruble.
2. The Agency's decision to reduce the authorized capital of a credit institution to its own funds (capital) shall be immediately enforceable. Based on the decision of the Agency, the interim administration is obliged to commit actions aimed at bringing the constitutive documents of the credit institution in accordance with the decision adopted.
3. When a reduction of the Charter capital of a credit institution to its own funds (capital) on the Agency's decision not to apply the provisions of federal laws and other regulatory legal acts:

for mandatory notification of creditors of their right to claim the credit organization termination or early performance of its obligations and compensation for related losses;
on the right of creditors to demand the credit organization termination or early performance of its obligations and compensation for related losses;
the need to eliminate the credit institution if its net assets (own funds) are less than the minimum amount of the authorized capital.
4. the authorized capital of a credit institution operating in the form of a joint stock company, may not be reduced by purchasing agency and (or) credit institution shares the credit organization from shareholders in order to reduce their total number.
5. the founders (participants) of the credit institution is entitled to claim a refund from the credit organization of their shares (deposits) in an amount not exceeding their residual value at the time of the Bank of Russia suggestions about moving a credit institution under the control of the Agency.
Article 12. An increase of the Charter capital of a credit institution 1. In adopting the agency decision to increase the authorized capital of the credit institution, the interim administration is obliged to carry out actions aimed at the increase of authorized capital by means of additional issuance of shares or making the Agency an additional contribution to the share capital.
The size of the additional issue of shares or contributions of the Agency should be sufficient so that the credit institution was considered to be transferred under the control of the Agency in accordance with this federal law.
2. In cases of Agency acquisition of stocks (shares) of a credit institution with its transition under the authority of the Agency not subject: on the need to obtain prior approval of the Bank of Russia for the purchase of stocks (shares) of a credit organization and compulsory notification of the Bank of Russia on the implementation of the deal on their acquisition;
the need for the conclusion of the Federal Antimonopoly body on compliance with antitrust rules;
on the impact of the acquisition of 30 percent or more of the ordinary shares of the credit institution, which is a joint-stock company;
on compliance with the minimum amount of the authorized capital of the credit institution, established by federal law and regulatory acts of the Bank of Russia on the date of State registration of the credit institution.
Article 13. Implications of a credit institution under the control of the Agency 1. Credit institution is deemed to be transferred under the control of the Agency from the date of purchase by the Agency shares (authorized capital contribution) of a credit institution in accordance with article 12 hereof.
Term of the State registration of changes in the constituent documents of the credit organization in connection with the increase in its share capital shall not exceed 30 days from the date of the Interim Administration to the Bank of Russia documents on State registration of the corresponding changes in the constituent documents. (As amended by the Federal law of March 21, N 31-FZ)
2. With the transfer of a credit institution under the control of the Agency until the expiry of the implementation plan for the restructuring of the credit organization: 1) Bank of Russia does not apply to the credit institution, the agency administered measures of responsibility for violation of banking supervision, monitoring of the activities of the credit institution as a professional participant of the securities market, as well as not indisputably warranted, with the credit institution the amount of nedovnesennyh funds in mandatory reserve balances deposited with the Bank of Russia, and does not impose fines for violation of the norm of mandatory reserves;
2) required reserves deposited the credit institution in accordance with the procedure established by the Bank of Russia, taking into account the characteristics defined in paragraph 4 of this article;
3) moratorium on satisfaction of creditors ' claims the credit organization for its obligations arising prior to the transfer of a credit institution under the control of the Agency, in accordance with article 26 of the Federal law on Insolvency (bankruptcy) of credit institutions ".
The moratorium on satisfaction of the claims of creditors of the credit institution applies to liabilities and mandatory payments arising prior to the date of the adoption of the Agency's decision to move the credit organization under the control of the Agency. Obligations of the credit institution, a credit institution after the failover occurred under the administration of the Agency, a credit organization shall be binding in its entirety.
Moratorium on satisfaction of creditors ' claims of the credit institution shall be valid till 12 months and may be extended by the Agency, but not more than six months, or canceled by the Agency prior to its expiration date. The decision to abolish the moratorium specified shall be published in the "Bulletin of the Bank of Russia", and may also be published in the media.

3. the Bank of Russia on the basis of the decision to move the credit organization under the authority of the Agency in accordance with paragraph 1 of this article makes an entry in the State Register of credit institutions that credit institution is administered by the Agency.
4. With the transfer of a credit institution under the control of the Agency she is granted the postponement to amend the amount of nedovnesennyh funds in required reserves deposited with the Bank of Russia for the period up to the end of the implementation of the plan of restructuring of the credit institution. This period may be extended by the decision of the Bank of Russia.
Credit organization must prepare a monthly calculation of required reserves to be deposited, and submit it to the Bank of Russia in the manner prescribed by the Bank of Russia. Sum of nedovnesennyh funds in required reserves deposited with the Bank of Russia, subject to completion within a timeframe to be agreed upon with the Bank of Russia.
In case of violation of the credit institution of the order of formation of required reserves established by this article, more than one date of effect of deferment of payment of nedovnesennyh funds in required reserves deposited at the Bank of Russia stopped.
5. The founders (participants) of the credit institutions had the right to give instructions obligatory for the credit organization or had the ability to otherwise determine its actions, the decision of the Court can be assigned subsidiary liability for the obligations of the credit institution to creditors in the case of bringing the credit institution to the financial condition, specified in article 3 of this federal law. Agency in the event of a decision to move the credit organization under the control of the Agency is obliged to send to the Court claims for bringing these individuals to justice.
CHAPTER III. RESTRUCTURING of the CREDIT INSTITUTION Article 14. Powers of the Agency in respect of a credit institution under the administration of the Agency 1. The Agency is entitled to in respect of credit institutions under its administration: 1) decide on implementing measures on financial recovery of the credit organization stipulated by the Federal law "on Insolvency (bankruptcy) of credit institutions";
2) increase or decrease the share capital of the credit institution;
3) decide on the reorganization of the credit organization;
4) sell or otherwise transfer rights to shares (share) a credit institution belonging to the Agency of third parties;
5) in accordance with article 17 of this federal law apply to the Court with a demand for recognition of transactions made by credit institution for three years until a credit institution under the administration of the Agency;
6) provide loans, place deposits, provide security, and provide other forms of financial assistance to credit organizations;
7) other measures and activities in order to restore the financial situation of the credit institution;
8) to carry out the liquidation procedure of the credit institution.
2. the Agency implements the specified in paragraph 1 of this article steps through the governing bodies of the credit institution in the manner prescribed by federal laws and adopted in accordance with the founding documents of the credit institution. The Agency has the right to exercise these powers on his own behalf, if it follows from the nature of the legal relationship related to restructuring of credit institutions.
3. in the implementation of the restructuring of the credit institution, the Agency met the claims of creditors in the manner and order prescribed by the civil legislation of the Russian Federation.
Article 15. The restructuring plan of the credit organization 1. The Agency carries out activities on the restructuring of the credit institution on the basis of the restructuring plan of the credit institution, which must not exceed three years from the time the credit organization under the control of the Agency.
2. a credit institution's restructuring plan should include: 1) restructuring activities of the credit institution;
2) activities on the formation of reserves requirement for the formation of running federal laws and normative acts of the Bank of Russia;
3) activities to achieve the credit organization values of the obligatory standards established by federal laws and normative acts of the Bank of Russia.
3. The term of implementation of the restructuring plan of the credit institution may be extended by the Agency for a period not exceeding 12 months, in consultation with the Bank of Russia.
4. Information on the restructuring of the credit institution and its implementation is provided by the Agency to the Bank of Russia at his request.
Article 16. Suspension from duty (limited powers) employees of the credit institution

1. when the credit institution under the administration of the Agency, it has the right to suspend for a period not exceeding one month from the fulfillment of responsibilities or limit the power of the heads of executive bodies, Chief Accountant, heads of branches of a credit institution and its other employees in the manner prescribed by the legislation of the Russian Federation on labour.
2. Termination of contracts (agreements) to persons referred to in paragraph 1 of this article shall be exercised in accordance with the legislation of the Russian Federation on labour contracts (contracts), taking into account the peculiarities stipulated by this federal law. Upon termination of the contract (Agreement) these persons paid material compensation in the amount of 20 minimum wages, stipulated by the Federal law, if a smaller amount of compensation is not provided the relevant contract (Agreement).
3. When the removal of persons referred to in paragraph 1 of this article, from the performance of the duties of the Agency shall be entitled to suspend payment of their salaries.
4. Since the adoption of the Agency's decision on the dismissal of persons referred to in paragraph 1 of this article, from the exercise of their powers transactions entered into specified individuals are void. Since the adoption of the Agency's decision to restrict the powers of the persons referred to in paragraph 1 of this article, the transactions concluded with exceeding delegated authority, are void.
Article 17. Recognition of transactions entered into by a credit organization, null and void. The refusal of Agencies from the credit organization contracts 1. The deal committed credit organization within three years before the date of the adoption of the Agency's decision to move the credit organization under the control of the Agency, may be declared invalid by a Court of arbitration according to the Agency, in accordance with the civil legislation of the Russian Federation, or if the conditions of the transaction with affiliated person, include getting affiliated with significant advantages in comparison with similar transactions, prisoners in accordance with prevailing at the time of conclusion of the transaction you.
2. the Agency shall be entitled to withdraw from the contract credit organization in cases and in the manner envisaged by the Federal law on Insolvency (bankruptcy) ".
Article 18. Sale of assets of the credit institution administered by the Agency 1. The Agency carries out sale of assets of the credit institution, the agency administered through a public auction. Valuation of assets of the credit institution, offered for sale, the Agency is carried out by an independent appraiser.
2. the assets of the credit institution, related to limited oborotosposobnomu property can be sold only at a private auction.
In closed bidding is attended by persons who, in accordance with the federal laws may have property or other property right of specified property.
3. the Agency may act as an organizer of trades or entrust a specialized organization of tendering on the basis of the Treaty. Specialized organization conducting the bidding may not be affiliated with respect to a credit institution by a person.
4. the assets of the credit institution are not sold at the first auction, exhibited at the repeated auction. The assets of the credit institution are not sold on repeated bids, are implemented by the Agency on the basis of a contract of sale concluded without bidding.
Article 19. Sale of the enterprise (business) credit institution 1. In order to meet the claims of creditors of the credit institution's restructuring plan may include a sale of the enterprise (business) credit organization (hereinafter-the sale of the business of credit institutions).
When selling business of a credit institution is permitted to sell structural, including separate, as well as functional units of the credit institution.
2. the relations associated with the sale of the business of the credit institution in accordance with this article, apply the Federal law on Insolvency (bankruptcy) ", unless otherwise stipulated by this article or follows from the nature of the legal relationship related to restructuring of the credit institution.
3. Sale of business of the credit institution shall be carried out without the participation of the Assembly (Committee) or Union of creditors.
4. auction Organizer acts as an agency that attracts a specialized organization for these purposes with payment services last from the assets of the credit institution. Business assessment of the credit institution, the Agency issued for sale, was carried out by an independent appraiser.
5. The Agency is required to publish an announcement about the sale of the business of the credit institution to open bidding in the "Bulletin of the Bank of Russia" and (or) in the official publication of the State authority on bankruptcy and financial recovery of not less than 30 days before the date of the auction.
Article 20. Creating a new Agency credit organizations in order to implement restructuring procedures

credit institution 1. In order to implement the restructuring of the credit organization procedures administered by the Agency, including restructuring its assets (liabilities), the Agency may, in accordance with the plan of restructuring of the credit organization to create a new credit institution and (or) purchase shares (share) a valid credit organization to the conditions which would allow it to define actions (decisions) of the functioning of the credit institution.
For sale (translation) of assets restrukturiruemoj of the credit institution is for the purpose of this article, after evaluating their appraiser. Proceeds from the sale of assets restrukturiruemoj (translation) the credit institution shall be sent to meet the demands of its creditors. Restrukturiruemoj obligations of the credit institution shall be transferred in accordance with the requirements of the civil legislation of the Russian Federation on the transfer of debt.
2. New credit organization, created on the initiative of the Agency must have a share capital not lower than the minimum amount of the authorized capital envisaged by federal laws and normative acts of the Bank of Russia for non-bank credit organizations in the field of payments. The Agency should be the sole founder (participant) of new credit organization created on his initiative.
Document confirming the fact of entering into the unified State registry of legal persons of record about new credit organization, the Agency's initiative, issued by Bank of Russia within 30 days from the date of receipt of the petition the Agency to establish a new credit institution, and the license for carrying out banking operations-not later than three days after full payment of the share capital. (As amended by the Federal law of March 21, N 31-FZ), Especially decision-making on State registration of credit organizations, created on the initiative of the Agency, licensing their activity, list and volume of banking transactions, as well as procedure of supervision by the Bank of Russia is set in accordance with this federal law and other federal laws. (As amended by the Federal law of March 21, N 31-FZ)
3. the Bank of Russia has the right to refuse to grant a license for carrying out banking operations new credit organization, the Agency's initiative, in case of inconsistency between its constituent documents the requirements of federal laws and taken in accordance with the normative acts of the Bank of Russia and (or) the inconsistencies of the persons proposed for appointment to the posts of managers of new credit organization, the Agency's initiative, and its chief accountant qualification requirements established by the Bank of Russia in compliance with the Federal law "on banks and banking activities".
4. the Agency may use borrowed funds for the formation of authorized capital of credit institutions, as defined in paragraph 1 of this article.
5. the provisions of the Federal law "on banks and banking activities" as part of the establishment and licensing of new credit organizations, created on the initiative of the Agency shall be applied if they do not contradict the provisions of this article.
Article 21. Sales Agency of his shares (interest in) a credit institution, the Agency sells its shares (shares) of the credit institution through a public auction, in accordance with the plan of its restructuring.
Article 22. Liquidation of the credit institution by a decision of the Agency 1. The Agency is entitled to through the administrations of the credit institution to take a decision on the liquidation of the credit institution administered by the Agency, if he has reasonable grounds for believing it impossible to continue financial recovery activities of the credit institution.
Based on the decision, the Agency appealed to the Bank of Russia with annulment (recall) credit institution of a license for carrying out banking operations.
2. in the case of the Bank of Russia to cancel (recall) credit institution license for carrying out banking operations shall notify the Bank of Russia, as well as the decision of the agency decision on the liquidation of a credit institution authorised in accordance with article 2 of the Federal law "on State registration of legal entities and individual entrepreneurs" federal body of executive power that has been making in the unified State Register of legal entities records that credit institution is in the process of liquidation. (As amended by the federal laws from 21.03.2002 N 31-FZ; from 08.12.2003. N 169-FZ) 3. Responsibility for the implementation of the liquidation of the credit institution in respect of which the Agency decided to eliminate the Agency. The Agency carries out the functions of the liquidator of the credit institution.

4. If in the course of liquidation found that assets of the credit institution are insufficient for performance of its obligations owed to all creditors, the Agency is required to apply to the Court in accordance with the requirements of paragraph 1 of chapter X of the Federal law on Insolvency (bankruptcy) ". In the case of recognition of a credit institution bankrupt bankruptcy trustee functions assigned to the Agency by the arbitral tribunal.
CHAPTER IV. RESTRUCTURING of LIABILITIES of the CREDIT INSTITUTION Article 23. Conclusion of an amicable agreement 1. In order to restructure the credit institution specified by the credit institution and its creditors have the right to enter into the settlement agreement.
Relations on the conclusion and adoption of a settlement agreement with the restructuring of the credit institution, unless otherwise provided for in this chapter or follows from the nature of the legal relationship related to the implementation of this federal law, shall apply the relevant rules on the settlement agreement, established by the Federal law on Insolvency (bankruptcy) ".
The Agency is obliged to send to the creditors of the credit institution administered by the Agency, the proposal on the terms of a settlement agreement not later than one month from the date of the transition of a credit institution under the control of the Agency.
2. A decision on the conclusion of a settlement agreement on behalf of the lenders was adopted by an Association of lenders. Decision on the conclusion of the global lenders Association Agreement shall be adopted by the majority of voices from the total number of creditors and is considered to be accepted if all creditors voted for the obligations, collateralised assets of the credit institution.
Decision on the conclusion of a settlement agreement by the credit organization shall be adopted by the Agency.
3. The Association of lenders is drawn to the arbitral tribunal a statement approving the settlement agreement, as the arbitral tribunal shall render an appropriate definition.
Of the date on which the application for approval of the settlement agreement, the arbitral tribunal shall notify the parties concerned. Failure to izveshhennyh persons does not preclude consideration of the statements.
4. In case of non-acceptance by creditors of the credit institution of the conditions of the settlement agreement within 45 days from the date of the Agency's proposals on the terms of the settlement agreement, the Agency has the right to carry out the restructuring of the credit institution in accordance with the terms of the restructuring of its obligations, approved the restructuring plan the credit organization. Lenders who do not agree with the plan of restructuring of the credit institution, a credit institution shall have the right to demand from their claims in the amount not exceeding the size to meet their requirements in case of liquidation of the credit institution in the manner stipulated by the Federal law on Insolvency (bankruptcy) of credit institutions ", and in a time frame comparable with the timing of liquidation of the credit institution during the bankruptcy proceedings.
Article 24. Association of creditors 1. Participants of Association of creditors with voting rights are lenders, as well as tax and other authorized bodies (organizations) on the part of the requirements for mandatory payments (hereinafter referred to as the lenders).
Organization and holding of meetings of the Association of creditors or agency on behalf of the head of the credit organization.
2. The Association of lenders has the right: to form a body to deal with disputes about the amount of the claims of creditors to approve the procedure for its establishment and operations;
to take a decision on the conclusion of an amicable agreement.
3. creditors at a meeting of the Association of lenders have a number of votes proportional to the amount of the lender's requirements established at the moment of the transition of a credit institution under the control of the Agency. When determining the number of votes is not taken into account the size of penalties (penalties, fines).
The first meeting of the Association of creditors votes number of creditors is determined based on the amount of debt of the credit organization, as reflected in its balance sheet at the balance sheet date prior to the moment of the transition of a credit institution under the control of the Agency.
4. a meeting of the Association of creditors entitled to regardless of the number of creditors ' votes on it, provided that notice of the time and place of meetings of creditors are properly notified.
Decisions at a meeting of the Association of creditors shall be taken by a majority of the votes present at the meeting of creditors, unless otherwise provided for in this chapter.
5. the Agency may propose unification of creditors rules of activity of Association of creditors, as well as the procedure for the formation and activities of the authority to hear disputes about the amount of the claims of creditors.
Article 25. The procedure for convening meetings of the Association of creditors 1. Meeting of the Association of creditors is convened on the initiative of the Agency and (or) creditors, whose claims of monetary obligations and (or) obligatory payments shall be not less than one third of the total claims made in the register of creditors ' claims, either on the initiative of one third of the number of creditors.

2. a meeting of the Association of creditors on request of creditors is convened by the agency within one month from the date of circulation of the creditors with the relevant requirement to the Agency.
3. a meeting of the Association held in the location of the creditors of the credit institution.
Article 26. Register of creditors 1. Register of creditors ' claims leads the Agency.
2. claims of creditors in the registry contains information about each lender, the amount of its cash requirements obligations and (or) obligatory payments when a credit institution under the administration of the Agency, as well as on the order meet each requirement.
3. Disputes between lenders and the Agency on the issues of the composition, size and priority meet the requirements on monetary obligations and (or) mandatory payments are considered Authority created an Association of lenders.
Article 27. Representation of interests of the Russian Federation when concluding amicable agreement 1. At the conclusion of a settlement agreement with a credit institution, including during the voting on the question of his opinion, the Agency shall have the right to represent the interests of the Russian Federation on obligatory payments and interests of the Russian Federation as a money lender obligations under agreement with the Government of the Russian Federation.
2. With a view to concluding a settlement agreement under debt of credit institutions to the Russian Federation on obligatory payments refers to debt credit institutions as separate taxpayers, as well as debts of credit institutions to pay into the federal budget (extrabudgetary funds) taxes and charges their clients, including accrued fines and penalties.
3. State authorities of the constituent entities of the Russian Federation and bodies of local self-government shall have the right, on the proposal of the Agency to grant him the right to represent their interests on obligatory payments in the respective budgets (extrabudgetary funds), and as money lenders.
Chapter v. AGENCY for RESTRUCTURING CREDIT ORGANIZATIONS Article 28. The Agency for restructuring credit organizations 1. The Agency for restructuring credit organizations is a public corporation created by the Russian Federation, status, purpose, activities, functions and powers of which are determined by the Federal law "on noncommercial organizations" and the present Federal law.
2. Making a profit is not a purpose of the Agency's activities. The Agency has the right to engage in entrepreneurial activities in accordance with this federal law only insofar as this serves the purpose for which it was created. Profit as a result of the implementation of the Agency's business activities, shall be sent to the Agency on the implementation of the restructuring of credit institutions.
3. the Agency shall have a seal with the State emblem of the Russian Federation and its name.
4. The Agency shall have the right to have an account with the Bank of Russia.
5. The seat of the central bodies of the Agency is the city of Moscow.
Article 29. The purpose of the activities and functions of the Agency 1. The purpose of activity of the Agency is the restructuring of credit institutions administered by the Agency in accordance with the requirements and procedures established by this federal law.
2. the Agency shall perform the following functions: accepts credit organizations under its control;
participates in the formation of management bodies of credit institutions under the administration of the Agency;
carries out activities on the restructuring of credit institutions under the administration of the Agency;
attracting the necessary funding to implement the restructuring of credit institutions;
creates the Organization, including the credit necessary for the implementation of the tasks and functions of the Agency;
interacts with the Government of the Russian Federation and the Bank of Russia in implementing the restructuring of credit institutions;
carries out 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, bodies of State power of the constituent entities of the Russian Federation, bodies of local self-government and the Bank of Russia have no right to interfere in the activities of the Agency for the implementation of legislated privileges for functions and powers.
2. the Agency and the Bank of Russia shall inform each other of their decisions and actions concerning credit institutions in the implementation of restructuring procedures, coordinate and consult regularly on issues of restructuring credit organizations.
The Agency is obliged at the request of the Bank of Russia to provide it with information on the financial status and activities of credit organizations, administered by the Agency.
Article 31. Property Agency

1. the property of the Agency is financed by the Agency's transfer of property owned by the Russian Federation, as well as the proceeds from the placement of funds, funds from the issuance of equity securities, the realization of stocks (shares) of the credit institutions and other legitimate income.
2. Property transferred to the Agency, the Russian Federation, is the property of the Agency. The Russian Federation is not responsible for the obligations of the Agency and the Agency is not responsible for the obligations of the Russian Federation. The Agency is liable for its obligations with all its assets.
3. the agency uses its assets for the implementation of the restructuring of credit institutions.
Article 32. Operations and transactions performed by the Agency 1. On the restructuring of the activities of credit institutions, the Agency has the right to carry out the following operations and transactions: 1) provide loans to lending institutions under the administration of the Agency;
2) open and maintain bank accounts of credit institutions under the administration of the Agency;
3) settlements on behalf of credit institutions-correspondents, administered by the Agency on their bank accounts;
4) encashment of bills, payment and settlement documents;
5) sale at public auction, transfer as security stocks (shares) of credit institutions under the administration of the Agency;
6) sale at market value, transfer as security, savings bonds and certificates of deposit, cheques and bills of Exchange, and other securities;
7) financing under cession of rights requirements for credit institutions and to the borrowers of credit institutions;
8) issuance of guarantees, bank guarantees, bills of Exchange, as well as issuing bonds and other debt obligations under the guarantees of the Government of the Russian Federation;
9) provide loans, place deposits, provide collateral to a third party acquiring shares the credit organization, its assets and (or) host its obligations;
10) placing temporarily free funds in the manner prescribed by the Board of Directors of the Agency;
11) other transactions, transactions in accordance with this federal law.
Operations and transactions carried out by the Agency in rubles and foreign currency.
2. the list of securities and other assets that have been taken to ensure the Agency's loans is determined by the Board of Directors of the Agency.
3. the Agency does not have the right to engage in commercial activities, except for the sale of assets of credit institutions, as well as industrial and insurance activities.
4. the Agency shall have the right to carry out professional activities in the securities market in compliance with the Federal law "on securities market".
Article 33. Management bodies of the Agency the Agency's management bodies are the Board of Directors of the Agency, the Board of the Agency and the Director General of the Agency.
Article 34. The Board of Directors of the Agency 1. The Supreme management body of the Agency is the Agency's Board of Directors. The Agency's Board of Directors is composed 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.
Chairman of the Board of Directors of the Agency shall be elected by the Board of Directors of the Agency on the proposal of the Government of the Russian Federation.
2. meetings of the Board of Directors of the Agency shall be convened by its Chairman or not less than one third of the members of the Board of Directors of the Agency as required, but not less than once in two months.
The Board of Directors of the Agency is empowered to take decisions if at least half of the present members. Decision of the Board of Directors of the Agency shall be adopted by a simple majority of those present. With equal numbers of votes of the judge presiding over the meeting of the Board of Directors of the Agency shall be decisive.
The Agency's Board meeting is held by the Chairman of the Board of Directors of the Agency, and in his absence, by a person authorized by the Chairman of the Board of Directors of the Agency.
Protocol of meeting of Board of Directors of the Agency shall be signed by the Chairperson of the meeting of the Board of Directors of the Agency. The opinion of the members of the Board of Directors of the Agency, the remaining minority, recorded at their request in the Protocol.
Article 35. The powers of the Board of Directors of the Agency the Agency's Board of Directors decides on the transition of a credit institution under the administration of the Agency and to refuse acceptance of a credit institution under the administration of the Agency;
decides on transactions, including interrelated transactions carried out by the Agency and related to acquisition or alienation or possibility of alienating the Agency, directly or indirectly, property the value of which is more than 5 per cent of the book value of the assets of the Agency on the date of the decision to enter into such transactions;
shall decide on the direction to the Bank of Russia motion for revocation (cancellation) credit institution administered by the Agency, of a license for carrying out banking operations;

approves the organizational structure of the Agency;
approves the cost estimates for the Agency and how to use the Agency's profits;
approves the annual report on the activities of the Agency;
appoint and dismiss the Director General of the Agency;
appoints and dismisses the members of the Management Board of the Agency;
appoints the auditor of the Agency;
hears reports of the Director General of the Agency on the Agency's activities;
addresses issues of participation of the Agency in other organizations;
decides on the establishment of branches and opening of representative offices of the Agency;
approves the regulations of the Board of the Agency;
manages the Agency's internal audit service;
the Agency shall decide on issuing bonds and other debt obligations;
exercise other powers stipulated by this federal law.
Article 36. The Board of the Agency 1. The number of members of the Board of the Agency shall be determined by the Board of Directors of the Agency. The Director General of the Agency is a member of the Board of the Agency for post and directs the work of the Board of the Agency.
2. the members of the Board of the Agency, with the exception of the Director General of the Agency, shall be appointed to Office for a term of five years by the Board of Directors of the Agency on the proposal of the Director General of the Agency.
Members of the Board of the Agency are working with the Agency on an ongoing basis.
3. the members of the Board of the Agency may be dismissed: after the specified in this article, the term of Office of the Director General of the Agency;
until the specified in the present article the term-the Agency's Board of Directors on the nomination of the Director General of the Agency.
4. the Management Board of the Agency shall act on the basis of the Agency's Board of Directors approved the regulations of the Board of Directors, which establishes the terms and the procedure of Convocation and conduct of its meetings and decision-making.
At a meeting of the Board of the Agency is carried out by the Protocol. Minutes of the meeting of the Board of the Agency appeared to be members of the Board of Directors of the Agency, the external and internal auditor at their request.
The holding of meetings of the Board of the Agency arranges the Director General of the agency or a person authorised by them. The Agency's Board meeting protocols signed chaired the session of the Board and one of the Agency's Board members present at the meeting.
Article 37. Powers of the Board of the Agency the Agency's Board: decides on the modalities and the conditions for the implementation of the restructuring of credit institutions under the administration of the Agency, approves plans for restructuring credit organizations, administered by the Agency;
decides on transactions, including interrelated transactions carried out by the Agency and related to acquisition or alienation or possibility of alienating the Agency, directly or indirectly, property, whose value is 1-5 per cent of the book value of the assets of the Agency on the date of the decision to enter into such transactions;
considering the Agency's annual report and submits it for approval by the Board of Directors of the Agency;
represents the Agency's Board of Directors proposal for distribution of profit of the Agency;
approves the staffing table of the agency determines the terms and conditions of employment, dismissals, duties and rights, the system of disciplinary measures, the size and form of remuneration of employees of the Agency;
exercise other powers stipulated by this federal law, if they are not within the competence of the Board of Directors of the Agency.
Article 38. The Director General of the Agency 1. The Director General of the Agency shall be appointed by the Agency's Board of Directors upon recommendation of the Chairman of the Board of Directors of the Agency for five years. The nomination of the Director General of the Agency the Agency's Board of Directors appears to be one month prior to expiry (end) the term of Office of the Director General of the Agency.
2. the Director may be dismissed by the Board of Directors of the Agency upon recommendation of the Chairman of the Board of Directors of the Agency in the following cases: expiry of his term of Office;
personal statement of resignation submitted to the President of the Board of Directors of the Agency;
the Commission of a criminal offence established by the verdict of the Court, which entered into legal force;
violations of federal laws that regulate the relations associated with the activities of the Agency to implement the restructuring of credit institutions.
Article 39. The powers of the Director General of the Agency, the Director General of the Agency: acts on behalf of the Agency and represent its interests without power of Attorney in relations with State authorities, organizations of foreign States and international organizations, other agencies and organizations;
the Board is chaired by the Agency and organizes the implementation of the decisions of the Board of the Agency;
issue orders and directives on the activities of the Agency;
distributes duties among his deputies;
appoint and dismiss employees of the Agency;

decide on other matters placed in the competence of the Agency, except the issues attributed to the competence of the Board of Directors of the Agency and the Board of the Agency.
Article 40. Employees of the Agency 1. The Agency's employees do not have the right to engage in any other paid activity, except scientific, teaching and other creative activities.
2. The Agency's Employees do not have the right to own shares of credit institutions.
Article 41. Receipt and non-disclosure of Agency information on the activities of credit institutions 1. The Agency has the right to receive information, which is commercial, utility and bank secrecy of the credit institution.
2. the Agency shall guarantee the confidentiality of information about the activities and operations of credit institutions, as well as their customers, if this information has become known to the Agency in carrying out the functions established by this federal law. The present restriction shall not apply to the relationship of the Agency and the Bank of Russia.
In case of disclosure of Agency information constituting bank secrecy, a credit institution whose rights have been violated, has the right to demand compensation from the Agency caused her loss.
3. Employees of the Agency have an obligation not to disclose information about its activities and about the Agency's operations, credit organizations, shares which the agency owns and (or) assets which are acquired, as well as other information, which have become known to them in the exercise of its functions and duties.
Article 42. The Agency's Accounts. Accounting features of the Agency 1. The reporting period, the Agency installed with 1 January to 31 December inclusive.
2. the Agency annually not later 15 February of the year following the reporting month is the annual report of the Agency.
3. Annual report of the agency include: report on the activities of the Agency over the past reporting period, analysing the implementation of the Agency for restructuring credit organizations and the use of assets of the Agency;
annual balance sheet with a breakdown of the structure of assets and liabilities of the Agency;
report on the use of funds allocated for current expenditures of the Agency;
report on the use of profit;
conclusion the Agency's internal audit service.
The accuracy of the annual balance sheet and report on the use of profit Agency confirms an independent audit organization.
4. the annual report shall be approved by the Board of Directors of the Agency until 15 March of the year following the accounting year. Annual report after its approval by the Board of Directors of the Agency shall be sent to the President of the Russian Federation in the Chamber of the Federal Assembly of the Russian Federation, the Government of the Russian Federation and the Bank of Russia.
Summary of the Agency's activities and its annual balance sheet shall be published in the "Bulletin of the Bank of Russia".
5. the peculiarities of accounting Agency determined by the Bank of Russia.
Article 43. Audit of the Agency 1. The Board of Directors of the Agency annually determines the firm of Auditors to examine the Agency's annual report.
2. the internal audit service internal audit Agency, accountable to the Board of Directors of the Agency. The procedure for the formation and activities of the internal audit service shall be determined by the Board of Directors of the Agency.
3. the Board of Directors of the Agency shall be entitled to take decisions on holding extraordinary audit and audit checks of Agencies.
Article 44. Disputes involving Agency 1. Founders (participants) of a credit institution or other interested persons have the right to appeal the Agency's decision in court, in the manner prescribed by the legislation of the Russian Federation. Appeal to the Court shall not suspend decisions of the Agency before the entry into force of the court verdict.
2. Disputes involving the Agency in respect of its transactions committed by them in the exercise of civil rights and obligations are to be settled in a general way.
Article 45. Reorganization and liquidation of the Agency the Agency may be reorganized or liquidated on the basis of a federal law that defines the order of reorganization (liquidation) and using the property of the Agency.
CHAPTER VI. FINAL PROVISIONS Article 46. The entry into force of this federal law 1. This federal law shall enter into force on the day of its official publication.
2. invite the President of the Russian Federation, to entrust the Government of the Russian Federation and the Bank of Russia within three months from the date of entry into force of this federal law shall bring its normative acts in compliance with this federal law.
3. to instruct the Bank of Russia to give clarifications on the application of this federal law which are binding on the entire territory of the Russian Federation.
4. From the date of entry into force of this federal law: consider open joint-stock company of non-banking credit organization "Agency for restructuring credit organizations" converted into public corporation "Agency for restructuring credit organizations";

powers of the shareholders of the open joint-stock company of non-bank credit organization "Agency for restructuring credit organizations" are terminated, and in accordance with this federal law shall be transmitted to the Board of Directors of the State Corporation "Agency for restructuring credit organizations";
the powers of the Board of Directors, Management Board and the Director-General of the open joint-stock company of non-bank credit organization "Agency for restructuring credit organizations" in accordance with this federal law shall be transferred accordingly to the Board of Directors, Board and the Director General of State Corporation "Agency for restructuring credit organizations".
The State Corporation "Agency for restructuring credit organizations" is a successor of joint stock company of non-bank credit organization "Agency for restructuring credit organizations" for all the rights and obligations of the latter, including the labour agreements (contracts).
5. The State Corporation "Agency for restructuring credit organizations" carries out plans for restructuring credit organizations, approved an open joint stock company of non-bank credit organization "Agency for restructuring credit organizations" to the day of entry into force of this federal law, regardless of the shares of the open joint-stock company of non-bank credit organization "Agency for restructuring credit organizations" in the share capital of the credit institution.
Russian President Boris Yeltsin in Moscow, the Kremlin July 8, 1999 N 144-FZ