PROVISION OF CENTRAL BANK OF THE RUSSIAN FEDERATION

of July 4, 2006 No. 290-P

About procedure for issue by the Bank of Russia to credit institutions of the permissions giving opportunity to have the affiliated organizations in the territory of foreign state

According to article 35 of the Federal law "About Banks and Banking Activity" (Sheet of the Congress of People's Deputies of RSFSR and Supreme Council of RSFSR, 1990, N 27, Art. 357; Russian Federation Code, 1996, N 6, Art. 492; 2006, N 19, the Art. 2061) this Provision establishes procedure for issue of permissions by the Bank of Russia to credit institutions to organization of the affiliated organizations in the territory of foreign states and acquisition of the status of the main society concerning the acting legal nonresident persons.

Chapter 1. General provisions

1.1. The credit institution can with the permission of the Bank of Russia and according to requirements, the established Federal Laws and this Provision, to have the affiliated organizations in the territory of foreign states.

1.2. The procedure established by this Provision extends to receipt of permissions to organization of the affiliated organization in the territory of foreign state, and also to acquisition of the status of the main society concerning the operating nonresident organization in which the credit institution will have opportunity owing to the prevailing participation in the authorized capital, or according to the signed agreement, or to otherwise determine the decisions made by governing bodies of this organization (daleerazresheniye).

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