of December 17, 2009 No. 90
About some questions of practice of application of the Federal Law "About State Registration of the Share Issues Placed before Entry Into Force of the Federal Law "About the Security Market" without State Registration"
Due to the questions arising in court practice and for the purpose of ensuring uniform application of the Federal Law of 10.12.2003 N 174-FZ "About state registration of the share issues placed before entry into force of the Federal Law "About the Security Market" without state registration" (further - the Law N 174-FZ, the Law) the Plenum of the Supreme Arbitration Court of the Russian Federation based on article 13 of the Federal constitutional Law "About Arbitration Courts in the Russian Federation" decides to give to Arbitration Courts (further - courts) the following explanations.
1. According to part 1 of article 1 of the Law N 174-FZ the share issues placed before entry into force of the Federal Law "About the Security Market" (further - the Law on the security market) without state registration, are subject to state registration according to the Law, at the same time documents for state registration of the specified share issues shall be submitted no later than one year from the date of its entry into force, that is not later 28.12.2004.
In case of the dispute resolution about appeal of decisions of registering body on refusal in state registration of the share issues placed before entry into force of the Law on the security market without state registration, courts should mean that the expiration, the Law N 174-FZ established by part 1 of Article 1, in sense of part 3 of this Article does not interfere with state registration of share issue as does not enter the exhaustive list of the bases for refusal in state registration of issue of securities, the stipulated in Article 21 Law on the security market.
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