of March 18, 2020 No. 50-FZ
About acquisition by the Government of the Russian Federation at the Central bank of the Russian Federation of ordinary shares of Sberbank of Russia public joint stock company and recognition voided separate provisions of legal acts of the Russian Federation
Accepted by the State Duma on March 12, 2020
Approved by the Federation Council on March 14, 2020
1. Central Bank of the Russian Federation (Bank of Russia) alienates the ordinary shares of Sberbank of Russia public joint stock company belonging to it on the date of entry into force of this Federal Law (further - PJSC Sberbank) by their sale to the Government of the Russian Federation on behalf of the federal executive body performing functions on development of state policy and normative legal regulation in the field of budget, tax, insurance, currency and banking activity.
2. Sale of ordinary shares of PJSC Sberbank according to part of 1 this Article is performed by the Bank of Russia on the weighted average price of these shares determined by results of the organized biddings for the period established in the first purchase and sale agreement of these shares which is not exceeding thirty days preceding date of the conclusion of the specified agreement.
3. Acquisition by the Government of the Russian Federation of ordinary shares of PJSC Sberbank is performed within investment of funds of National welfare fund. Shareholder rights on the acquired securities on behalf of the Government of the Russian Federation are exercised by the federal executive body performing functions on development of state policy and normative legal regulation in the field of budget, tax, insurance, currency and banking activity. Transfer of ordinary shares of PJSC Sberbank Pravitelstvu of the Russian Federation on behalf of the federal executive body performing functions on development of state policy and normative legal regulation in the field of budget, tax, insurance, currency and banking activity is performed only after transfer to the Bank of Russia of money in payment of the corresponding block of shares according to the purchase and sale agreement.
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