On Bank of Russia Ordinance No. 3847-U, dated 11 November 2015

The Bank of Russia issued Bank of Russia Ordinance No. 3847-U, dated 11 November 2015, ‘On Amending Bank of Russia Instruction No. 146-I, Dated 25 October 2013, On the Procedure for Obtaining Bank of Russia Prior Permission to Acquire Shares (Stakes) in a Credit Institution’ registered with the Ministry of Justice of the Russian Federation on 2 December 2015 under No. 39934.

Bank of Russia Ordinance No. 3847-U, dated 11 November 2015, amends the list of transactions which require Bank of Russia prior permission to acquire over 10% of shares (stakes) in a credit institution, in particular, the list is supplemented with the provision on the necessity of Bank of Russia permission to acquire property rights for shares (stakes) in a credit institution by gift.

It also excludes the provision stipulating that Bank of Russia prior permission shall be deemed granted in a gift transaction with shares (stakes) in a credit institution.

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08.12.2015 00.00.00