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On The Development Bank

Original Language Title: О банке развития

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RUSSIAN FEDERATION FEDERAL LAW On Development Bank adopted by the State Duma on April 20, 2007 Approved by the Federation Council on 4 May 2007 class="ed">(In the version of federal laws 25.12.2009) N 340-FZ; dated 29.12.2010 N 437-FZ; of 11.07.2011 N 200-FZ; dated 18.07.2011 N 236-FZ; of 07.11.2011 N 305-FZ; of 25.06.2012 N 85-FZ; dated 21.07.2014. N 240-FZ; 29.06.2015 N 185-FZ; dated 29.12.2015 N 406-FZ Chapter 1. Basic provisions Article 1. Relationship governed by this Federal Law Law This Federal Law sets out the legal position, principles of organization, purpose of creation and activity, reorganization and liquidation of the development bank- State Corporation "Bank for Development and Foreign Economic Activity (Vnesheconombank)" (hereinafter-Vnesheconombank). Article 2. Vnesheconombank's legal position 1. Vnesheconombank is a public corporation established by the Russian Federation, the purpose and powers of which are determined by this Federal Law, other federal laws and regulations adopted on their basis OF THE PRESIDENT OF THE RUSSIAN FEDERATION 2. Vnesheconombank has a seal with the image of the State Emblem of the Russian Federation and the full name. 3. Vnesheconombank's location is the city of Moscow. 4. The full name of the state corporation is the state corporation "Bank for Development and Foreign Economic Activity (Vnesheconombank)". The abbreviated name of the state corporation-Vnesheconombank. Article 3. Vnesheconombank's activities and functions 1. Vnesheconombank is acting in order to enhance the competitiveness of the economy of the Russian Federation, its diversification, stimulating investment activity through investment, foreign economic, insurance, and insurance. Advice and other activities envisaged by this Federal Law on the implementation of projects in the Russian Federation and abroad, including with the participation of foreign capital, aimed at the development of infrastructure, innovations and special measures. economic zones, environmental protection, and support for the export of Russian goods, works and services, and support for small and medium-sized businesses. 2. Vnesheconombank shall be entitled to carry out business activities only insofar as it serves the purposes set out in Part 1 of this Article and the corresponding purposes. Vnesheconombank's profit from its activities shall be transferred to Vnesheconombank's funds and shall be used solely for the purposes set out in Part 1 of this Article. 3. Vnesheconombank (Vnesheconombank), in order to achieve its objectives, has the following main functions: 1) is financing investment projects aimed at infrastructure development and implementation of innovative projects, including in The form of credit or participation in the capital of business organizations; 2) issues bonds and other securities in accordance with the laws of the Russian Federation; 3) organizes loans and credits, and Involves loans and credits, including in financial markets; 4) acquires shares (shares, shares) in the charter capital of economic societies, as well as investment and mutual funds; 5) exercises rights and performs the duties of a foreign exchange control agent authorized banks; 6) issue surety to legal entities for third parties (excluding individuals, including individual entrepreneurs); 7) acquires the rights of performance of third parties obligations in monetary terms and issuing emissive securities secured by the said requirements; 8) provides financial and warranty support for the export of manufactured goods (goods, works, services) and arranges financial, insurance, warranty and other support for the export of industrial goods products (goods, works, services) provided by this Federal Law and other regulatory legal acts; (as amended by the Federal Act of 29.06.2015 N 185-FZ) 9) participates in transactions involving the obligations of the parties to pay monetary amounts depending on the price changes of goods and securities, exchange rates, interest rate and level Inflation, in order to reduce risks of operations; 10) participates in the implementation of federal targeted programs and state investment programs, projects, including foreign economic, including government support exports of industrial products (goods, works, services) Federal laws and other regulatory legal acts; 11) participates in the implementation of projects for the establishment of special economic zones and other facilities for operation These zones, as well as in the procedure established by the Government of the Russian Federation, participate in the implementation of investment projects of national importance and are carried out on the basis of public-private partnership. Law dated 25.12.2009. N 340-FZ) 12) carries out leasing operations; 13) performs bank credit services in the event that these loans are provided to support the export of Russian industrial products organizations, including in the construction of facilities abroad and the supply of complete equipment, the issuance of bank guarantees with the participation of Russian organizations in international tenders and the implementation of concluded export contracts; 14) organizes and performs expertise of the investment, export and other projects, including engineering judgment of engineering solutions; (In the wording of Federal Law dated 29.06.2015 N 185-FZ ) 15) participates in the financial support of small and medium-sized enterprises through the financing of credit organizations and legal entities supporting small and medium-sized businesses; 16) monitors compliance by legal entities with the requirements of the Vnesheconombank's projects; 17) works with international development organizations, corporations and development institutions of foreign countries and takes part in the realization of international Russian Federation; 18) participates in associations, unions and other non-profit organizations established (established) in the territory of the Russian Federation and abroad and the purpose of the activities which promote economic development and investment; 19) creates branches and opens offices and creates legal entities in the Russian Federation and abroad. The provisions of article 55, paragraph 3, paragraph 3, of the Civil Code of the Russian Federation do not apply to the establishment of branches and the opening of Vnesheconombank's offices; (In the wording of Federal Law dated 29.12.2010 N 437-FZ) 20) (Spconsumed by Federal Law of 29.06.2015) N 185-FZ) 21) participates in operations to account for the use, servicing and repayment of public loans and loans provided by the Russian Federation to foreign States, foreign States, OF THE PRESIDENT OF THE RUSSIAN FEDERATION of restricted access and information The requirement to ensure confidentiality protects such information; (In the wording of the Federal Law of 11 July 2011). N 200-FZ) 23) provides support in the form of guarantees to shipbuilding organizations with the status of resident in the industrial special economic zone; (Paragraph added-Federal law dated 07.11.2011 N 305-FZ) 24) participates in the implementation of investment projects (including abroad) aimed at increasing the competitiveness of the Russian Federation's economy, including in the area of agro-industrial :: Complex and high-technology products; (Paragraph added is the Federal Law of 29.06.2015). N 185-FZ)25) participates in projects implemented by the Russian Federation in the framework of the promotion of international development; (Paragraph added-Federal law dated 29.06.2015 N 185-FZ) 26) participates in the provision of financial and guarantee support for the sale of industrial goods (goods, works, services) produced in the territories of foreign states, provided that the share of Russian components in the Goods (works, services) account for at least 30 per cent of the cost of the goods (including the cost of performing related works (services), technologically induced (necessary) and intrinsically linked to the production of such goods (work, ). (Paragraph amended by the Federal Law of 29.06.2015) N 185-FZ 4. In performing its functions Vnesheconombank performs the following banking operations: 1) attracts funds of legal entities involved in Vnesheconombank's projects; 2) opens and leads Bank accounts of legal entities involved in the implementation of Vnesheconombank's projects, correspondent accounts in the Central Bank of the Russian Federation, credit organizations in the territory of the Russian Federation, foreign banks and international organizations. Clearing-house centers; 3) places the specified in paragraph 1 of this part of the attracted funds on its own behalf and at its own expense; 4) carries out calculations on behalf of legal entities, including those involved in the implementation of Vnesheconombank's projects, including correspondent banks, accounts; 5) performs the sale of foreign currency in cash and non-cash forms; 6) carries out collection of money, promissory notes, payment and settlement documents, and cash services of legal entities, Vnesheconombank's projects; 7) issue banking guarantees to legal entities involved in the implementation of Vnesheconombank's projects. 4-1. Vnesheconombank is entitled to attract funds from the National Welfare Fund in the order and under the conditions determined by the Government of the Russian Federation. Vnesheconombank is entitled to attract funds from the federal budget in the order decided by the Government of the Russian Federation. (Part added-Federal law dated 21.07.2014 In the wording of Federal Law No. N 406-FZ4-2. In order to ensure capital adequacy, Vnesheconombank is entitled to attract funds of the National Welfare Fund in deposits on the basis of certain decisions of the Government of the Russian Federation for a period of not less than five years. the condition that the relevant deposit agreements do not contain provisions directly or indirectly granting the right to demand the early return of the deposit or its part, as well as the early payment of interest for the use of the deposit or early termination Contract of deposit. (Part of the addition is the federal law of 21.07.2014. N 240-FZ) 5. In order to implement Vnesheconombank's projects, ensure its own liquidity and risk management, Vnesheconombank operates a dealer, depository, securities management and securities market. It provides trustful management of funds and other property, including those in State ownership. 6. (The Federal Law of 29.06.2015 took effect. N 185-FZ)7. (The Federal Law of 29.06.2015 took effect. N 185-FZ) 8. (The Federal Law of 29.06.2015 took effect. N 185-FZ) 9. (The Federal Law of 29.06.2015 took effect. N185-FZ) Article 3-1. Implementation of export support functions 1. The export support functions provided for in article 3 of this Federal Law are carried out by Vnesheconombank, the Russian Export Centre (hereinafter referred to as the Russian Export Centre), and joint-stock companies. "Russian Agency for Export Credit and Investment Insurance", State Specialized Russian Export-Import Bank (JSC) and its subsidiaries. 2. The functions of the financial, insurance, guarantee and other export support provided for in article 3 of this Federal Law are carried out by Vnesheconombank and the Russian Export Centre, whose shares belong to 100% of the shares. Vnesheconombank, in accordance with this Federal Law, acts of the Government of the Russian Federation, decisions of the authorized bodies of management of these organizations. 3. The rights of the Russian Export Centre's shareholders are implemented by Vnesheconombank on the basis of decisions of the Vnesheconombank's supervisory board. The authorized capital of the Russian Export Centre is formed in the size and order of the Supervisory Board of Vnesheconombank. 4. Vnesheconombank coordinates the activities of the Russian Export Centre, the Joint-Stock Company "Russian Agency for Export Credit and Investment Insurance", the State Specialized Russian Export and Import Bank (joint-stock company) for export support. 5. Members of the boards of directors (supervisory boards) of the Russian Export Centre and its subsidiary companies are entitled to combine their membership in the boards of directors (supervisory boards) of the Russian Export Centre and (or) its subsidiaries In the Russian Federation, the Russian Federation is a party to the Convention on the Law of the Sea. 6. The Director General of the Russian Export Centre is appointed and dismissed by the General Shareholders Meeting of the Russian Export Centre. 7. The Accounts Chamber of the Russian Federation and other State bodies, in accordance with the legislation of the Russian Federation, supervise the activities of the Russian Export Centre. 8. The Russian Export Centre in the order established by the Government of the Russian Federation: 1) participates in the implementation of public policy in the field of development and export support, including the promotion of the implementation of the State and other projects involving the export of goods (work, services); 2) provides information and advisory support to exporters, Russian investors investing outside the Russian Federation THE RUSSIAN FEDERATION, their foreign counterparts on the respective transactions, Russian and foreign credit organizations, as well as other organizations providing financial support to these persons; (3) organize access by Russian exporters and other interested persons to information on measures Export support as well as the activities of the authorized bodies of the State authorities of the Russian Federation and the State authorities of the constituent entities of the Russian Federation in the field of export support; 4) provides assistance to activities of non-profit organizations representing the interests of 5) assists in the promotion of industrial products (goods, works, services) abroad, including the promotion of exhibition, fair trade, marketing and other activities, OF THE PRESIDENT OF THE RUSSIAN FEDERATION exports; 7) Implement Activities to support exports. 9. The procedure for cooperation between the Russian Export Centre and the federal executive authorities, the State Atomic Energy Corporation Rosatom, including the preparation of draft federal laws and other regulatory legal acts The Russian Federation on the exercise of the functions and powers of the Russian Export Centre, as provided for by this Federal Law, the acts of the Government of the Russian Federation and the Statute of the Russian Export Centre, shall be established. The Government of the Russian Federation. 10. Joint-stock company "Russian Agency for Export Credit and Investment Insurance" in the order established by the Government of the Russian Federation: 1) provides insurance for export credits and investments from business enterprises. and (or) the political risks of exporters, Russian investors carrying out investments outside the territory of the Russian Federation, their foreign counterparts on the relevant transactions, Russian and foreign credit institutions engaged in Loan of related transactions, as well as other organizations that provide financial support to designated persons; 2) ensures the performance of foreign counterparty obligations in the export and execution of investments outside the Russian Federation, including through the issuance of independent OF THE PRESIDENT OF THE RUSSIAN FEDERATION by the Government of the Russian Federation; 3) carries out other activities to support exports. 11. Joint-stock company "Russian Agency for Export Credit and Investment Insurance" carries out activities for insurance of export credits and investments in accordance with the requirements of this Federal Law, the order of implementation Activities relating to insurance of export credits and investments from business and (or) political risks provided for in Part 10 of this Article and general provisions of civil law of the Russian Federation. 12. Article 927, paragraph 1, article 929, paragraph 1, article 933, paragraph 1, article 938, article 942, paragraph 1, article 942, paragraph 1, article 943, paragraph 1, do not apply to insurance of export credits and investments against business and/or political risks. Articles 944, paragraphs 2 and 3, 950 and 956 of Part Two of the Civil Code of the Russian Federation. 13. The Russian Agency for Export Credit and Investment Insurance is not subject to the provisions of the legislation of the Russian Federation on the organization of the insurance business. "Russian Agency for Export Credit and Investment Insurance" is engaged in the activity of insurance of export credits and investments without obtaining a permit (license). 14. The procedure for the implementation of export credit insurance and investment from the business and (or) political risks provided for in Part 10 of this Article, in particular, is defined by: 1) the requirements for rules Insurance, including claims to the parties to the insurance policy and beneficiaries, insurance, insurance premiums, insurance premiums, insurance risks, insurance, insurance, liability insurance, and the obligations of the parties, the Contract for the Execution, Termination and Dissolution of the Insurance Contract the liability of the parties; 2) the requirement to ensure the financial sustainability of the joint-stock company "Russian Agency for Export Credit and Investment Insurance", including the formation and use of the insurance fund, other funds and "Russian Agency for Export Credit Insurance and Investment Insurance" in connection with the provision of financial support to Vnesheconombank in the form of guarantees and (or) in other forms, and and State support in accordance with the budget OF THE PRESIDENT OF THE RUSSIAN FEDERATION Export credit and investment insurance ". 15. State specialized Russian export-import bank (joint-stock company): 1) finances exporters, Russian investors who invest outside the territory of the Russian Federation, Foreign counterparties to relevant transactions, Russian and foreign credit organizations, as well as other organizations providing financial support to these persons; (2) ensure the fulfillment of the obligations of Russian exporters, of their foreign counterparts in the relevant transactions, Russian and foreign credit institutions providing credit to the relevant transactions, as well as other organizations providing financial support to these persons, including through the issuance of bank guarantees, the conclusion of contracts Sponsorship and other means; 3) performs other activities to support exports. 16. Russian Export Centre, Joint Stock Company "Russian Agency for Export Credit and Investment Insurance", State Specialized Russian Export-Import Bank (JSC) is entitled to act as grantees. OF THE PRESIDENT OF THE RUSSIAN FEDERATION implementation of State export support measures, The functions of the agent of the Government of the Russian Federation on state guarantees under the federal law on the federal budget are excluded. 17. Joint-stock company "Russian Agency for Export Credit and Investment Insurance", State Specialized Russian Export-Import Bank (JSC), as well as other economic entities to which it is a party The Russian Export Centre may be the only participant in another economic society consisting of one person. 18. In the name of the Russian Export Centre, the Joint-Stock Company "Russian Agency for Export Credit and Investment Insurance" and the State Specialized Russian Export and Import Bank (joint-stock company) "Russian Federation" or "Russia", as well as words derived from this name may be included. href=" ?docbody= &prevDoc= 102114195&backlink=1 & &nd=102374918 "target="contents" title= " "> of 29.06.2015 N185-FZ) Article 4. Legal regulation of the activity Vnesheconombank 1. The legal status and activities of Vnesheconombank are governed by the present Federal Law, other federal laws and regulations adopted on their basis by the Russian Federation. 2. The legislation on banks and banking activities extends to the activities of Vnesheconombank, in part not contrary to this Federal Act, and in the light of the features established by this Federal Act. 3. Vnesheconombank shall not be subject to the provisions of the legislation on banks and banking activities regulating order: 1) State registration of credit institutions and issuance of licenses for the conduct of banking operations; 2) liquidation or reorganization of credit organizations; 3) providing information about the activities of credit organizations; 4) the implementation of certain types of banking transactions and transactions in case of conflict the procedure established by the legislation on banks and banking activities, this Federal Law; 5) ensuring the sustainability and financial soundness of credit institutions, compliance with other mandatory requirements and regulations. 4. The provisions of the Civil Code of the Russian Federation established for credit institutions (banks) apply to the relations arising from the exercise by Vnesheconombank of functions entrusted to him by this Federal Act. 5. Vnesheconombank shall not be subject to the provisions set out in article 32, paragraphs 3, 5, 7, 10 and 14, of the Federal Act No. Non-commercial organizations ", which regulate the procedure for monitoring the activities of non-profit organizations. 6. The main directions and indicators of Vnesheconombank's investment and financial activity, quantitative restrictions on attraction of loans, limits, basic conditions, procedure and deadlines for the provision of loans and loans, participation in the authorized capital The Ministry of Finance of the Russian Federation sets out the financial policy of Vnesheconombank (VEB), which is approved by the Government of the Russian Federation. 7. The procedure for the preparation of the Memorandum, its content and period of validity shall be determined by the Government of the Russian Federation. 8. The functions, powers and operating procedures of Vnesheconombank shall be determined by this Federal Law, as well as the provision on the Supervisory Board of Vnesheconombank, as approved by the Government of the Russian Federation, and the provision on Vnesheconombank's supervisory board, approved by Vnesheconombank's supervisory board. Article 5. Vnesheconombank's property 1. The property of Vnesheconombank is formed from the property received as a result of the reorganization of the Bank for Foreign Economic Affairs of the USSR, the property contribution of the Russian Federation, revenues from Vnesheconombank's activities and voluntary funds. Contributions and donations, as well as other legitimate income. 2. Vnesheconombank does not meet the obligations of the Russian Federation. The Russian Federation is not in charge of Vnesheconombank's obligations. 3. Vnesheconombank uses its property solely for the purposes for which it was created. Article 6. The relations between the state authorities and the local self-government bodies with Vnesheconombank 1. State authorities of the Russian Federation, bodies of State power of the constituent entities of the Russian Federation, local self-government bodies shall not be entitled to interfere in the activities of Vnesheconombank in the achievement of the established real by law, except in cases provided for by federal laws. 2. The Government of the Russian Federation: 1) appoints and dismissals the members of the supervisory board of Vnesheconombank; 2) approves the position of Vnesheconombank's supervisory board; 3) Approves the Memorandum; 4) performs other functions provided for by this Federal Law. 3. Monitoring of compliance with the Memorandum is carried out, including through the annual submission of annual accounting statements by Vnesheconombank, the audit report thereon, and the conclusion of the Internal Control Service. Vnesheconombank, based on the results of the audit of the annual accounting records and other documents provided for by this Federal Law. 4. The Memorandum may establish the composition and deadlines for the submission of additional information (supplementary materials), mandatory (mandatory) for submission to the Government of the Russian Federation and the Central Bank of the Russian Federation. Chapter 2. Reporting and auditing Vnesheconombank Article 7. Parity of Vnesheconombank 1. The Vnesheconombank will be established from January 1 through December 31, 2016. 2. Vnesheconombank shall keep accounting records in accordance with the established accounting and reporting rules for credit institutions of the Russian Federation, taking into account the accounting characteristics of the Central Bank. of the Russian Federation. 3. The annual report of Vnesheconombank shall be made annually no later than 30 April of the year following the reporting, and shall be approved by the Vnesheconombank's supervisory board not later than June 15, following the reporting year. 4. Vnesheconombank's annual report, including annual accounting, must be published. 5. Vnesheconombank's annual report includes an account of Vnesheconombank's activities during the reporting period, annual accounting reporting, cash flow statement, capital movement report, profit use report, the formation report and both Use of the reserves and funds of Vnesheconombank, as well as other information in accordance with Article 7-1 of the Federal Law of 12 January 1996 No. 7-FZ "On non-profit organizations". The annual report of Vnesheconombank, as determined by the supervisory board of Vnesheconombank, includes a report on the activities of the Russian Export Centre. (In the wording of the federal laws of June 29, 2010, } N 437-FZ; dated 29.06.2015 N 185-FZ 6. Vnesheconombank's annual accounting records consist of an accounting balance sheet and a profit and loss statement. 7. Vnesheconombank's activities are posted on the official website of Vnesheconombank in accordance with Article 7-1 of the Federal Law of 12 January 1996 No. 7-FZ "On Non-Profit Organizations". (Part added-Federal Law of 29.12.2010) N 437-FZ) Article 8. Audit of Vnesheconombank 1. To check the annual accounting reports of Vnesheconombank, the supervisory board of Vnesheconombank determines on a competitive basis the audit organization as well as its remuneration. 2. The audit organization carries out mandatory audit of Vnesheconombank's annual accounting reports before its approval by Vnesheconombank's supervisory board. 3. The audit opinion should be published together with Vnesheconombank's annual accounts. 4. Internal audit of Vnesheconombank is carried out by the Internal Control Service. The procedure for the internal control service shall be determined by the Vnesheconombank's supervisory board. 5. The Supervisory Board of Vnesheconombank has the right to make decisions on holding an extraordinary audit of Vnesheconombank's accounting records under the conditions set out in parts 1 to 3 of this article. Chapter 3: Managing Vnesheconombank Article 9. Vnesheconombank's control 1. Vnesheconombank's supervisory boards are Vnesheconombank's supervisory board, board of Vnesheconombank and chairman of Vnesheconombank. 2. Vnesheconombank's board is approved by the Vnesheconombank's supervisory board. 3. The remuneration and/or compensation of Vnesheconombank's supervisory board members shall be approved by the Government of the Russian Federation. Article 10. Vnesheconombank's supervisory board 1. Vnesheconombank's supervisory board is the Vnesheconombank's supervisory board. Vnesheconombank's supervisory board is composed of eight members and the chairman of Vnesheconombank. 2. The Chairman of the Supervisory Board of Vnesheconombank is the Chairman of the Government of the Russian Federation. 3. Vnesheconombank is a member of Vnesheconombank's supervisory board. 4. Members of the supervisory board of Vnesheconombank shall be appointed by the Government of the Russian Federation for a term of five years. 5. Vnesheconombank's supervisory board members, with the exception of Vnesheconombank's chairman, do not work in Vnesheconombank on a permanent basis. 6. The dismissal of a member of the supervisory board of Vnesheconombank shall not constitute grounds for terminating his membership in the Council. 7. Members of the supervisory board of Vnesheconombank, who are not civil servants, carry out their activities on a contractual basis in accordance with the legislation of the Russian Federation. 8. The powers of the member of the supervisory board of Vnesheconombank may be terminated ahead of schedule by the decision of the Government of the Russian Federation. A new member of the board shall be appointed by the Government of the Russian Federation within two months from the date of the termination of the powers of the member of the Supervisory Board of Vnesheconombank. Article 11. Vnesheconombank's supervisory board meetings 1. Vnesheconombank's supervisory board meetings are convened by the chairman of Vnesheconombank's supervisory board or a member of the board, authorized by the chairman of the Vnesheconombank's supervisory board, as necessary, but at least once in the quarter. 2. The Supervisory Board of Vnesheconombank is empowered to make decisions if at least half of its members are present at the meeting. Decisions shall be made by a simple majority of those present. If the number of votes is equal, the presiding officer of the supervisory board of Vnesheconombank shall be decisive. 3. Vnesheconombank's supervisory board is chaired by Vnesheconombank's supervisory board and in the absence of Vnesheconombank's supervisory board member authorized by the chairman of Vnesheconombank's supervisory board. 4. Minutes of the meeting of the Vnesheconombank's supervisory board shall be signed by the presiding judge of the board, who shall be responsible for the correctness of the protocol. The opinion of the members of the supervisory board of Vnesheconombank shall be recorded on the basis of their request in the protocol. 5. An extraordinary meeting of the Supervisory Board of Vnesheconombank shall be held by decision of the Supervisory Board of Vnesheconombank or at the request of the internal control service of Vnesheconombank or an audit organization, which is obligatory. Vnesheconombank's annual accounting audit. Article 12. Vnesheconombank 1. In carrying out the functions assigned to Vnesheconombank, its supervisory board: 1) determines the main directions of Vnesheconombank's activity based on the Memorandum approved by the Government of the Russian Federation; 2) Approves the regulations governing Vnesheconombank; 3) approves regulations for Vnesheconombank's branches and representations; 4) approves the annual report of Vnesheconombank; 5) approves the financial plan Vnesheconombank's income and expenditure (budget) reserves and funds, as well as the use of profits, reserves and funds; 6) decides on the establishment of branches, the opening of offices, and the creation of legal entities; 7) approves the audit organization, Vnesheconombank's annual mandatory audit of Vnesheconombank's annual accounting annual accounting; 9) to decide on the appointment of the head of the internal Vnesheconombank's control and early termination of powers; 10) decides on the issue of Vnesheconombank's bonds and determines the order of issuance of securities in accordance with the legislation of the Russian Federation; 11) specifies the parameters of the investment and financial activity of Vnesheconombank within the limits of the powers granted to him by the Memorandum; 12) makes decisions on the approval of transactions or several related transactions related to acquisition, alienation or alienation of Vnesheconombank Assets with an inventory value of 10 per cent and more than the equity (capital) of Vnesheconombank by the last reporting date prior to the date of the decision to enter into such transactions; 13) Other powers provided for by this Federal Law and the Federal Act of 12 January 1996 No. 7-FZ "On non-profit organizations". In the wording of Federal Law of 29.12.2010 N 437-FZ) 2. Vnesheconombank's supervisory board shall be transferred to Vnesheconombank or Vnesheconombank's Chairman. Article 13. Vnesheconombank's Board 1. Vnesheconombank's board is a collegial executive body of Vnesheconombank. Vnesheconombank's board consists of Vnesheconombank's chairman and eight Vnesheconombank's board members. Vnesheconombank's chairman is in charge of Vnesheconombank's board. 2. Vnesheconombank's board members are appointed and dismissed by Vnesheconombank's supervisory board. 3. Vnesheconombank's board members work in Vnesheconombank on a permanent basis. 4. Vnesheconombank's board members may be paroled by the supervisory board of Vnesheconombank on the advice of Vnesheconombank's chairman. In case of early termination of powers of these persons, new members of the board of Vnesheconombank shall be appointed in accordance with the procedure established by this Federal Law. 5. Vnesheconombank's board is acting on the basis of regulations approved by the Vnesheconombank's supervisory board, which set deadlines, the procedure for convening and holding meetings of Vnesheconombank's board, as well as the procedure for taking decisions. 6. The board of Vnesheconombank's board is being presented to the members of Vnesheconombank's supervisory board, members of the internal control service of Vnesheconombank and the audit organization on their demand. 7. Vnesheconombank's board is organized by the chairman of Vnesheconombank or the person authorized by Vnesheconombank. Minutes of the meeting of the Board of Vnesheconombank shall be signed by the presiding officer at the relevant meeting. Article 14. Vnesheconombank's board of directors In the execution of Vnesheconombank's board of functions: 1) prepares and submits proposals for Vnesheconombank's supervisory board Vnesheconombank and Vnesheconombank's investment and financial performance; 2) approves financing of investment projects up to the amount stipulated by the regulation of the government Vnesheconombank; 3) prepares and contributes to Vnesheconombank's financial plan for Vnesheconombank's financial plan; 4) reviews Vnesheconombank's annual report and submits it for approval to Vnesheconombank's supervisory board; 5) presents the Vnesheconombank's offer to the Vnesheconombank's supervisory board; 6) approves the Vnesheconombank's staffing table, determines the conditions of employment, dismissal, social security, rights and duties, the disciplinary system OF THE Vnesheconombank's employees, in accordance with the law of the Russian Federation; 7) approves the organizational structure of Vnesheconombank; 8) exercises other powers, provided for by this Federal Act, if they are not included in the powers of other Vnesheconombank's management bodies. Article 15. Chairman, Vnesheconombank 1. Vnesheconombank's chairman is the sole executive body of Vnesheconombank and guides its current activities. 2. The Chairman of Vnesheconombank is appointed and dismissed by the President of the Russian Federation. Chairman of Vnesheconombank (Vnesheconombank) is appointed to the position of Chairman of the Government of the Russian Federation for a term not exceeding five years. The candidacy of the new chairman of Vnesheconombank shall be submitted to the President of the Russian Federation one month before the expiry of the term of office of the current Chairman of Vnesheconombank. 3. If the President of the Russian Federation has rejected the candidacy of Vnesheconombank's chairman, the chairman of the Vnesheconombank's supervisory board shall submit to the President of the Russian Federation a different candidate for president within fifteen days. Vnesheconombank. 4. Vnesheconombank is responsible for its actions (inaction) in accordance with the legislation of the Russian Federation and the regulation of Vnesheconombank's governing bodies. 5. The powers of the chairman of Vnesheconombank may be terminated ahead of schedule by the President of the Russian Federation. Vnesheconombank chairman of the Vnesheconombank's supervisory board shall submit to the President of the Russian Federation the candidacy of Vnesheconombank's chairman in accordance with the procedure established by the Vnesheconombank (VEB) chairman. of this article. Article 16. Vnesheconombank's chairman's powers Vnesheconombank: 1) acts on behalf of Vnesheconombank and presents Vnesheconombank's interests in relations with the public authorities, bodies of local government, organizations of foreign states and international organizations, other organizations; 2) leads the board of Vnesheconombank and organizes the implementation of Vnesheconombank's board; 3) publishes Orders and orders for action Vnesheconombank; 4) assigns responsibilities among its deputies; 5) submits an offer to the Vnesheconombank's Supervisory Board for the appointment and dismissal of board members Vnesheconombank; 6) appoints and dismissals Vnesheconombank's employees; 7) makes decisions on other matters within the competence of Vnesheconombank, with the exception of those assigned to it The competence of the supervisory board of Vnesheconombank and its board. Chapter 4: Creation, reorganization and liquidation of Vnesheconombank Article 17. Order of creation of Vnesheconombank 1. Vnesheconombank is created by reorganization in the form of transformation of the Bank for foreign economic activity of the USSR on the basis of this Federal Law. 2. The Government of the Russian Federation shall approve the transfer act referred to in article 20, paragraph 2, of this Federal Act, within fifteen days from the date of its submission by the board of directors of the Bank for Foreign Economic Affairs of the USSR, as well as The order, date and form of the property contribution as a property contribution of the Russian Federation to the authorized capital of Vnesheconombank and the composition of such property. 3. Vnesheconombank shall be subject to State registration in accordance with the procedure established by the Federal Act No. Registration of legal persons and individual entrepreneurs ", within fifteen days from the date of approval by the Government of the Russian Federation of the transfer act referred to in article 20, paragraph 2, of this Federal Act. 4. The Chairman of the Government of the Russian Federation shall submit a candidate for the position of Chairman of Vnesheconombank for the approval of the President of the Russian Federation within fifteen days from the date of the state registration of Vnesheconombank. 5. The Supervisory Board of Vnesheconombank shall be appointed in accordance with the procedure established by this Federal Law within fifteen days from the date of the state registration of Vnesheconombank. 6. Vnesheconombank's board is appointed in accordance with the procedure established by this Federal Law, within fifteen days of the appointment of Vnesheconombank's chairman. Article 18. The authorized capital of Vnesheconombank 1. The authorized capital of Vnesheconombank (VEB) is set by the Government of the Russian Federation, but not less than 70 billion rubles by: (1) of the property of the Bank for Foreign Economic Affairs of the USSR transferred to the charter Vnesheconombank (VEB) capital of Vnesheconombank; society); 3) other property, by decision of the Government OF THE PRESIDENT OF THE RUSSIAN FEDERATION 2. When introducing shares as a property contribution of the Russian Federation to Vnesheconombank's charter capital, their market value is determined in accordance with Federal Law N 208-FZ " On joint-stock companies " and the legislation on evaluation activities. 3. The authorized capital of Vnesheconombank may be increased by the decision of the Government of the Russian Federation by additional property contribution of the Russian Federation or by the profit of Vnesheconombank. 4. As a property contribution, enterprises may act as property complexes, property of federal state institutions and other property held in state ownership. The assessment of the property is carried out in accordance with the legislation on evaluation. 5. The authorized capital of Vnesheconombank should be formed within six months from the date of Vnesheconombank's state registration. Article 19. Vnesheconombank's reorganization or liquidation 1. Vnesheconombank may be reorganized or liquidated under a federal law defining the order and date of reorganization or liquidation and the use of Vnesheconombank's property. 2. The procedure for liquidating Vnesheconombank shall not apply the rules set out in the insolvency law (bankruptcy). 3. In the case of liquidations of Vnesheconombank, requirements for the attracted Vnesheconombank in accordance with Article 3, paragraph 4-2 of this Federal Law are satisfied after satisfying the requirements of all other creditors. (Part of the addition is the federal law of 21.07.2014. N 240-FZ) Chapter 5: Final provisions Article 20. The procedure for reorganizing the Bank for Foreign Economic activities of the USSR 1. The Board of Directors of the Bank for Foreign Economic Affairs of the USSR within fifteen days of the date of entry into force of this Federal Law provides for the publication of a notice of reorganization of the Bank for Foreign Economic Affairs of the USSR in " Russian Federation The newspaper, the Bulletin of State Registration and the Journal of the Bank of Russia, which is considered a written notification of the creditors. 2. The Board of Directors of the Bank for Foreign Economic Affairs of the USSR, within two months from the date of the entry into force of this Federal Law, carries out an inventory of property and obligations, constitute a transfer act and submit it for approval in the The Government of the Russian Federation. 3. The transfer act is a document confirming the succession to reorganization and contains provisions on succession to all obligations and requirements of the Bank for Foreign Economic Affairs of the USSR to all its creditors and debtors, including obligations contested by the parties. The transfer act, together with the above information, should provide for the determination of succession in connection with changes in property and obligations that may arise after the date on which the transfer is made, as a result Implementation of the activities of the Bank for Foreign Economic Affairs of the USSR before the end of the reorganization. 4. The transfer act is prepared on the basis of an inventory of property and liabilities of the Bank for Foreign Economic Affairs of the USSR and the latest accounting report, audited by an independent audit. organization. 5. In the transfer act, all types of property of the Bank for Foreign Economic Affairs of the USSR, including buildings, buildings, land plots, other property, equipment, tools, raw materials, products, legal requirements, debts, including debts, are listed. Obligations of the Bank for Foreign Economic Affairs of the USSR to pay the payments to the citizens to whom it is responsible for causing damage to life and health, as well as the rights to symbols, individualizing the Bank for Foreign Economic Affairs USSR (trade name, trademarks, service marks), and other exclusive rights. 6. From the date of the state registration of Vnesheconombank, all rights and duties of the Bank for Foreign Economic Affairs of the USSR, including all rights and obligations under the contracts of the Bank for foreign economic activity of the USSR, are transferred to Vnesheconombank. 7. From the date of the state registration of Vnesheconombank till the date of the formation of Vnesheconombank's administration, members of the Board of Directors of the Bank for Foreign Economic Affairs of the USSR fulfill the duties of Vnesheconombank's board members, Chairman of the Bank The Foreign Economic Activity of the USSR is acting as Chairman of Vnesheconombank. 8. Vnesheconombank's first accounting balance is drawn up on the basis of an approved transfer act, as well as data on transactions carried out by the Bank for Foreign Economic Affairs of the USSR prior to the state registration of Vnesheconombank. 9. The procedure of reorganization of the Bank for Foreign Economic Affairs of the USSR is not subject to the peculiarities established by the legislation on banks and banking activities and normative acts of the Central Bank of the Russian Federation. Article 21. Implementation of Vnesheconombank separate functions 1. The functions of bank servicing of the former USSR and Russian Federation borrowings, as well as for the organization of accounting, calculation and reconciliation of arrears, are performed by Vnesheconombank to the date set by the Government of the Russian Federation. The functions of Vnesheconombank shall be transferred from the date set by the Government of the Russian Federation to a body (organization) designated by the Government of the Russian Federation. 2. Functions of the public management company for trust management of the pension accruals, as well as the function of the state management company with the means of the payment of the trust fund management The payment of the reserve and the pension savings of insured persons who have been fixed by a fixed pension is carried out by Vnesheconombank until the date set by the Government of the Russian Federation. In order to fulfill this function, Vnesheconombank has the right to carry out brokerings on the securities market in accordance with the procedure established by the laws of the Russian Federation. (In the wording of Federal Law dated 25.06.2012 N 85-FZ 3. Vnesheconombank performs functions to maintain bank deposits and maintain bank accounts of individuals in case they were opened in the Bank for Foreign Economic Affairs of the USSR before the date of reorganization of the Bank for Foreign Economic Affairs The USSR, in accordance with article 17 of this Federal Act. 4. Vnesheconombank does not have the right to attract funds from individuals, as well as to deposit additional funds into the accounts of individuals with whom the bank account (deposit) was concluded, except for interest, under the terms of the bank account (contribution). Additional funds, with the exception of interest accrued under the terms of the bank account (deposit), shall be surrendered to the persons who have issued an order for the transfer of funds to the account (to the deposit). 5. The bank account (deposit) with individuals, concluded before the date of reorganization of the Bank for Foreign Economic Affairs of the USSR, is not subject to avoidance unless otherwise provided by the contract, except in case of the holder of the account. (a) The Convention on the Rights of the President of the Russian Federation Vladimir Putin Moscow, Kremlin 17 May 2007 N 82-FZ