ORDER OF THE CENTRAL BANK OF RUSSIA

of April 23, 1997 No. 02-195

About enforcement of the Provision "About features of registration of credit institutions with foreign investments and about procedure for receipt of preliminary permission of the Bank of Russia to increase in the authorized capital of the registered credit institution at the expense of means of nonresidents

Due to the approval of the Provision "About Features of Registration of Credit Institutions with Foreign Investments and about Procedure for Receipt of Preliminary Permission of the Bank of Russia to Increase in the Authorized Capital of the Registered Credit Institution at the expense of Means of Nonresidents" by the Board of directors of the Bank of Russia (N10 protocol of 4:04. 97) I order:

1. Enact the Provision since May 15, 1997.

2. Declare invalid since May 15, 1997 the letter of the Bank of Russia of April 8, 1993 of N14 "Conditions of Opening of Banks with Participation of Foreign Investments in the Territory of the Russian Federation".

3. Determine that the regulations of the Bank of Russia regulating activities of credit institutions extend to credit institutions with foreign investments taking into account features of the Provision.

4. To credit institutions to bring structure of the executive bodies into accord with the regulations containing in Items 29, 30 Provisions till December 31, 1997 with foreign investments;

To provide to territorial offices of the Bank of Russia till January 15, 1998 to Department of licensing of banking and auditor activity information on accomplishment by credit institutions with foreign investments of the requirement specified in paragraph one of item 4 of this Order.

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