OREANDA-NEWS. July 30, 2015.Bank of Russia issued Ordinance No. 3681-U ‘On Specifics of the Procedure of Issuing Bank Shares with State Corporation Deposit Insurance Agency Implementing Bank Bankruptcy Prevention Measures’ registered with the Ministry of Justice of the Russian Federation on 21 July 2015 (Registration No. 38096) (hereinafter — the Ordinance).

The Ordinance defines the decision-making procedure for placing the bank shares on the basis of Bank of Russia decision to reduce the bank authorised capital. It establishes a list of documents needed for the state registration of issues (additional issues) of shares and reports on the results of issues (additional issues) of shares performed in accordance with a plan for the state corporation Deposit Insurance Agency to participate in the implementation of bank bankruptcy prevention measures. Besides, the document defines state registration specifics for such issues of shares, as well as actions pertaining to the termination of the issue of shares the bank may be pursuing when the Bask of Russia takes a decision to reduce the bank authorised capital.