RUSSIAN FEDERATION FEDERAL LAW On amendments to the Federal Law on Securities Market and the Federal Law on the Issue and Treatment of State and Municipal Securities " Adopted by the State Duma on 22 May 2012 Approved by the Federation Council on 6 June 2012 Article 1 Article 1 Article 1 of the Federal Law dated 22 April 1996, N 39-FZ "On the securities market" (Legislative Assembly of the Russian Federation, 1996, N 17, art. 1918; 2002, N 52, sect. 5141; 2004, N 31, est. 3225; 2005, N 25, 100 2426; 2006, N 1, article 5; N 31, sect. 3437; 2007, N 1, st. 45; 2009, N 18, sect. 2154; N 48, sect. 5731; 2010, N 31, est. 4193; N 41, sect. 5193; 2011, N 23, sect. 3262; N 48, sect. 6728; N 50, st. 7357) the following changes: 1) Part 7 of Article 2 should be amended to read: " Issuer-legal person, executive body of state power, local self-government bodies, which carry on their own behalf or from of the obligation to the holders of securities in the exercise of the rights enshrined in these securities. "; (2) in article 14, paragraph 2, the words" federal government securities "shall be replaced by the words" "State securities of the Russian Federation"; 3) 16: (a) to be supplemented with the fourteenth reading: " Persons who have signed an application for permission to place and (or) securities of Russian issuers outside the Russian Federation The Federation is obliged to submit to the federal executive branch of the securities market the notification of the results of placement and (or) organization of securities circulation of Russian issuers outside the Russian Federation. The form, time and order of the notification shall be determined by the normative legal acts of the federal executive branch of the securities market. "; b) to be completed by Part 15: " For The placement and/or the organization of the circulation of government securities outside the Russian Federation shall not be required to obtain the authorizations provided for in this article. "; 4) paragraph 11 of article 18, paragraph 11, should be set out in , to read: " Signature of the person carrying out the The functions of the issuer's executive body and, in the case of the issuance of (additional) government or municipal securities, the signature of the executive or the authorized official of the executive body of the State or the organ local government, issuer's stamp; ". Article 2 Article 136-FZ of July 29, 1998 " About features Public and municipal securities emissions and applications OF THE PRESIDENT OF THE RUSSIAN FEDERATION 3814; 2005, N 30, est. 3101; 2007, N 18, 100 2117) The following changes: 1) in Article 2: a) Part 1 restated: " 1. In accordance with the Federal Law, State securities of the Russian Federation and State securities of the constituent entities of the Russian Federation are recognized. In accordance with this Federal Law on State securities of the Russian Federation, securities issued on behalf of the Russian Federation are recognized. In accordance with this Federal Law, the constituent entities of the Russian Federation recognize securities issued on behalf of the constituent entity of the Russian Federation. In accordance with this Federal Law, municipal securities are recognized securities issued on behalf of municipal education. "; b) Part 3 should read: " 3. The issuer of state and municipal securities are the executive bodies of state power and local administrations, which issue securities on behalf of the public and municipal securities, and carry obligations to the public The owners of securities in the exercise of the rights enshrined in these securities. The Government of the Russian Federation is the Government of the Russian Federation. The subject of the Russian Federation is the supreme executive body of the State authorities of the constituent entity of the Russian Federation or a financial entity of the constituent entity of the Russian Federation OF THE PRESIDENT OF THE RUSSIAN FEDERATION The municipal securities emitters are the local administration, vested with municipal charter by the right to exercise municipal borrowings. "; 2) in article 4: (a) the name to be stated in , to read: " Article 4. In the second word "securities of the Russian Federation" to be replaced by "State and municipal" of securities "; 3) in article 5: (a) Part 1: " State and municipal securities are placed by releases. "; b) in Part 5 of" Single release " with the word "release"; in the sixth word, "to replace" with the issue of issuing (additional) state or municipal securities "; g) to supplement the seventh reading: " Issuer when accepting them Decisions on issuance (additional issue) of state or municipal securities assigns the state registration number, formed in the order established by the state, to this issue (s) by the executive authority exercising authority in the Part of the approval of the establishment of State registration numbers assigned to public and municipal securities and other debt obligations. "; 4) in article 6: a) in Part 1: in Paragraph 1 of the first word "securities of the Russian Federation, securities of the constituent entities of the Russian Federation" should be replaced with "State securities of the Russian Federation, State securities of the constituent entities of the Russian Federation,"; second to void; in paragraph 3 "The securities of the Russian Federation, securities of the constituent entities of the Russian Federation" should be replaced by the words "State securities of the Russian Federation, State securities of the constituent entities of the Russian Federation"; b) in Part 2: paragraphs 2, 4 and 5 shall be declared invalid; to be supplemented by a new paragraph 10, reading: " For the purpose of this Federal Law, the issue of State securities of the constituent entity of the Russian Federation, of which the nominal value is in the foreign currency and which are placed outside the Russian Federation, recognized by the issue of the external bond issue of the constituent entity of the Russian Federation. "; , tenth paragraph, paragraph 11; in), should be added to Part 3, as follows: " 3. In order to carry out the issue of the external bond issue of the subject of the Russian Federation subject to the state registration of the conditions of issuance and circulation of government securities of the subject of the Russian Federation, the issuer shall submit: Documentary confirmation of the credit rating of at least two leading international rating agencies, in accordance with international standards, not below the level set by the Government of the Russian Federation; The prospectus of the external bond issue of the subject of the Russian Federation Russian, a document containing information on the borrower and on the conditions of the issuance of securities by the subject of the Russian Federation in international financial markets. The responsibility for keeping the content of the external bond issue of the external bond issue of the Russian Federation subject to the content of the equivalent document in the foreign language is the responsibility of the issuer. A letter from the supreme executive body of the State authority of the constituent entity of the Russian Federation, signed by the head of that organ, containing information on the expected dates of the placement of the securities. The prospectus of the external bond issue of the subject of the Russian Federation is not subject to state registration by the federal executive branch, which performs state registration of the conditions of issuance and circulation of the State securities of the constituent entities of the Russian Federation and of the municipal securities. "; 5) in article 8: (a) Part 1 of the phrase" the executive authority of the constituent entity of the Russian Federation, the local government " Replace with the words " the highest executive organ of the State The Russian Federation, the local administration ", the words" the constituent entities of the Russian Federation and municipalities "should be replaced by the words" the subject of the Russian Federation and the legal act of the local administration "; 6) to be completed by the third part of the following table of contents: "In the General Conditions only one form of issuing securities may be specified."; b) Article 9 should be reworded as follows: " Article 9. Conditions for the issuance and circulation of government or municipal securities 1. The Issuer of State or Municipal Securities in accordance with the General Conditions adopts the document in the form of a normative legal act of the Russian Federation, a normative legal act of the subject of the Russian Federation or a legal act. the local administration, containing conditions for the issuance and circulation of state or municipal securities (hereinafter referred to as the conditions for issuance and circulation), including specification of: 1) securities; 2) minimum and maximum The time frame for the application of this type of state or municipal securities. The issuance of securities may have different circulation periods; (3) the nominal value of one security in one issue of state or municipal securities; 4) the procedure for placing public or municipal securities; 5) procedures for the exercise of rights certified by State or municipal securities; 6) the size of the income or the order of its calculation; 7) other significant emissions conditions; and applications that are relevant to the occurrence, execution or termination Obligations for public or municipal securities, including securities with the right to buy back the issuer before maturity. 2. The conditions for the issuance and circulation of government securities of the constituent entities of the Russian Federation or municipal securities should also contain information: 1) on the Borrower's budget for the year of government securities of the subject of the Russian Federation Federation or municipal securities (total budget revenue, grant revenue, inter-budget transfers received from other budgets of the Russian Federation budget system, total budget expenditures with allocation Public and municipal debt service, deficit (surplus) budget, the upper limit of the public domestic debt or municipal debt and (or) public external debt as of 1 January of the next fiscal year, including the upper limit of public debt or municipal guarantees, limit of state or municipal debt); (2) on the total debt of the borrower at the date of approval of the issuance and circulation of government securities of the constituent entity of the Russian Federation; or municipal securities; 3) from annual reports Budget performance of the borrower over the last three completed fiscal years (budget revenue by group and sub-group showing total budget income, budget expenditure by budget section of the budget, showing total expenditure budget, deficit (surplus) of the budget). In case the conditions for the issuance and circulation of government securities of the constituent entities of the Russian Federation or municipal securities are accepted by the issuer before the law of the constituent entity of the Russian Federation or the legal act of the representative body of the annual financial performance report for the last completed fiscal year, the terms of issuance and treatment may contain the data of the budgetary accounting carried out by the financial authorities of the constituent entities of the Russian Federation and of municipal entities, financial performance for the last completed financial period Year. 3. The conditions for the issuance and circulation of government securities of the Russian Federation, as well as changes in the conditions of issuance and circulation of these securities, shall be subject to State registration in the manner prescribed for State registration. regulatory legal acts of the federal executive authorities. 4. The conditions for the issuance and circulation of government securities of the constituent entities of the Russian Federation or municipal securities, as well as changes to the conditions of issuance and circulation of these securities are subject to state registration by the federal authority The executive authorities, which carry out state registration of the conditions of issuance and circulation of government securities of the constituent entities of the Russian Federation and municipal securities. 5. The rules of state registration of the conditions for the issuance and circulation of government securities of subjects of the Russian Federation and municipal securities, as well as changes made to the conditions of issuance and circulation of these securities, shall be established. The Government of the Russian Federation. 6. The conditions of issuance and circulation of government securities may provide for the right to purchase government securities from the issuer before their maturity, with the possibility of their subsequent circulation in the case where it is provided by the conditions, in accordance with the requirements (including the determination of the price of the buy-in) prescribed by the budgetary laws of the Russian Federation. "; 7) in article 10: (a) the name after the word" emissions "should be supplemented with the words" and { \cs6\f1\cf6\lang1024 } Public { \cs6\f1\cf6\lang1024 } { \cs6\f1\cf6\lang1024 } { \cs6\f1\cf6\lang1024 after the word "emissions" add "and public address", the word "paper can" be replaced with "paper, as well as changes made to the issuance and circulation of these securities may serve"; paragraph 3 after The words "emissions" should be supplemented with the words "and appeals by the public"; paragraph 4, in addition to the words "and with the budget legislation of the Russian Federation"; in), the second sentence should read: " In the case of the denial of the State registration of conditions of issuance and circulation State securities of the constituent entities of the Russian Federation or of municipal securities, as well as changes to the conditions of issuance and circulation of these securities, the federal executive authority, which performs state registration The conditions for the issuance and circulation of government securities of the constituent entities of the Russian Federation and municipal securities are obliged to inform the issuer in writing of the reasons for the refusal. The issuer has the right to appeal against the refusal to the court. "; 8), article 11 should be amended to read:" Article 11. A decision to issue a release (additional issue) of state or municipal securities 1. In accordance with the General Conditions and Conditions of Issue and Treatment, the issuer makes a decision on the issue of issuing (additional issue) of state or municipal securities (hereinafter referred to as the decision on issue (s). The release decision (additional release) should include the following prerequisites: 1) the issuer name; 2) the start date of the security; 3) the date or period of the placement; (4) form of issue (additional issue) of securities; 5) value for securities; 6) par value of one security; 7) quantity of issue paper (additional release); 8) maturity date; 9) Registrar, maintaining a register of owners of public securities of the constituent entities of the Russian Federation or the registry of owners of municipal securities, or pointing to depositaries who take account of the rights of the owners of government securities of the Russian Federation, state securities of the constituent entities of the Russian Federation, municipal securities of this issue; 10) information on compliance with the limits of budget deficits, municipal debt and public service or The municipal debt established by the Budget Code of the Russian Federation; 11) other conditions of significance for the placement, circulation of public or municipal securities, and for the performance of securities obligations, including securities with the right to buy back the issuer before maturity. 2. The release decision (additional release) must be signed by the issuer. 3. The conditions contained in the decision on the issue (s) must be published in the mass media and (or) disclosed by the issuer of other specified legislation of the Russian Federation in a manner not later than two working days to the date of the beginning of the placement of state or municipal securities. 4. The decision to issue a (additional issue) of state securities of the constituent entity of the Russian Federation or municipal securities is not subject to State registration by the federal executive branch of the State. The registration of conditions for the issuance and circulation of government securities of the constituent entities of the Russian Federation and municipal securities. 5. Changes to the release (additional release) of public or municipal securities in circulation are not permitted. "; 9) to supplement Article 11-1 as follows: " Article 11-1. Report on the results of public or municipal securities 1. Issuer of state or municipal securities after the completion of the financial year, but not later than February 1 of the current financial year, adopts the document in the form of a normative legal act of the Russian Federation, regulatory legal system. of the Russian Federation or the legal act of the local administration, containing a report on the outcome of the issuance of state or municipal securities and including a reference to: 1) state registration numbers of issues State or municipal securities whose placement Implemented in the financial year under review; 2) the placement of the security; 3) the date of the security of the specified releases; 4) the maturity date for the specified releases; 5) the actual The price of placing securities (as a percentage of the nominal value); 6) the number of securities placed; 7) the security of each of the specified releases. 2. The rules of the submission by the constituent entities of the Russian Federation and municipal entities of the reports on the results of the emission of government securities of the constituent entities of the Russian Federation and municipal securities are established by the Government of the Russian Federation. 3. The report on the results of the emission of government securities of the subject of the Russian Federation or municipal securities is not subject to state registration by the federal executive authority conducting state registration of conditions "The issuance and circulation of government securities of the constituent entities of the Russian Federation and municipal securities."; 10), article 12, amend to read: Article 12. Disclosure of public and municipal securities 1. The disclosure of State and municipal securities, defined in accordance with the Federal Law on the Securities Market, is implemented by: (1) Publication of the Russian Federation's regulatory legal act; OF THE PRESIDENT OF THE RUSSIAN FEDERATION OF THE PRESIDENT OF THE RUSSIAN FEDERATION The legal act of the local administration-the conditions for the issuance and circulation, in accordance with this Federal Law; 3) of the publication and (or) disclosure by the issuer of other specified legislation of the Russian Federation The manner of information contained in the decision on issuance (additional issue), not later than two working days before the date of commencement; 4) of the publication and (or) disclosure by the issuer of other statutory provisions of the Russian Federation Federation by way of information related to the release decision (additional) release), including information on the size of the regular coupon on state or municipal securities with variable coupon income, in accordance with the terms of issuance and circulation and the decision on issue (additional issue); 5) Issuer of a report on the issuance of public or municipal securities issued under this Federal Act. 2. The publication of the normative legal acts of the Russian Federation, the normative legal acts of the constituent entities of the Russian Federation or the legal acts of the local administration, as well as the changes made to them, shall be published in the following terms: OF THE PRESIDENT OF THE RUSSIAN FEDERATION 3. In addition to the disclosure of the information referred to in this article, the executive authorities of the constituent entities of the Russian Federation and the local authorities are obliged to publish quarterly reports on the performance of the budgets of the constituent entities of the Russian Federation; Local budgets. The issuers of government securities of the constituent entities of the Russian Federation and municipal securities are obliged to publish monthly data on the length of the borrower's debt. 4. The Russian Federation's public securities disclosure standards contained in the decision on the issue of the Russian Federation's state securities and in the report on the results of the issuance of these securities, shall be established by the Government of the Russian Federation. 5. OF THE PRESIDENT OF THE RUSSIAN FEDERATION of municipal securities and in the report on the issue of these securities are established by the federal executive authority, exercising authority to approve the disclosure standards for public securities of the subjects of the Russian Federation and municipal securities held in Decision on the issue of (additional) issuance of government securities of the constituent entities of the Russian Federation or of municipal securities and in the report on the issue of these securities. "; 11) in article 14: (a) in Part 1: in the first paragraph of the phrase "or the terms of the emissions" should be replaced by the words "and the conditions of the emissions and the treatment of the public"; the second paragraph should read: " The terms of the liability insurance contract must be included in the release decision (additional release). "; b) Part 2 (c) Article 15: " Article 15. { \cs6\f1\cf6\lang1024 } Considerations for { \cs6\f1\cf6\lang1024 } { \cs6\f1\cf6\lang1024 } { \cs6\f1\cf6\lang1024 } { \cs6\f1\cf6\lang1024 } { \cs6\f1\cf6\lang1024 } } { \b } { \cs6\f1\cf6\lang1024 } 1. Obligations arising from the issuance of public and municipal securities may be guaranteed by the Russian Federation, the constituent entity of the Russian Federation or municipal education. 2. The procedure for the provision and execution of State and municipal guarantees shall be governed by the budgetary laws of the Russian Federation, taking into account the characteristics set out in this Federal Act. 3. The decision on the release (additional issue) of securities should indicate the conditions of the State or municipal guarantee provided by the Russian Federation, the constituent entity of the Russian Federation and the municipal authorities, respectively. by the entity (guarantor) in ensuring the fulfilment of the issuer's obligations (principal) arising from the implementation of the last loan by issuing securities, to the owners of these securities (beneficiaries). 4. The rights of the claim against the guarantor for a State or municipal guarantee shall be deemed to be transferred to the new owner of the securities (beneficiary) secured by the State or municipal guarantee from the date of their transfer to the securities. paper. 5. The guarantor of the State or municipal guarantee carries a subsidiary liability under the guaranteed obligation. 6. The guarantor of the State or municipal guarantee has the right to refuse the owner of the securities (the beneficiary) in satisfaction of his claim if the latter is not entitled under the law of the Russian Federation to do so. Implementing securities rights. ". President of the Russian Federation Vladimir Putin Moscow, Kremlin 14 June 2012 N 79-FZ