INSTRUCTION OF CENTRAL BANK OF THE RUSSIAN FEDERATION

of August 25, 2015 No. 3758-U

About cost determination of net assets of investment funds, including about procedure of payments of annual average net assets value of mutual investment fund and net assets of the joint-stock investment fund, settlement cost of investment shares of mutual investment funds, property value transferred to payment of investment shares

This Instruction based on the Federal Law of November 29, 2001 No. 156-FZ "About investment funds" (The Russian Federation Code, 2001, No. 49, Art. 4562; 2004, No. 27, Art. 2711; 2006, No. 17, Art. 1780; 2007, No. 50, Art. 6247; 2008, No. 30, Art. 3616; 2009, No. 48, Art. 5731; 2010, No. 17, Art. 1988; No. 31, Art. 4193; 2011, No. 48, Art. 6728; No. 49, Art. 7040, Art. 7061; 2012, No. 31, Art. 4334; 2013, No. 26, Art. 3207; No. 27, Art. 3477; No. 30, Art. 4084; No. 51, Art. 6695, Art. 6699; 2014, No. 11, Art. 1098; 2015, No. 27, the Art. 4001) (further - the Federal Law "About Investment Funds"), the Federal Law of July 10, 2002 No. 86-FZ "About the Central bank the Russian Federation (Bank of Russia)" (The Russian Federation Code, 2002, No. 28, Art. 2790; 2003, No. 2, Art. 157; No. 52, Art. 5032; 2004, No. 27, Art. 2711; No. 31, Art. 3233; 2005, No. 25, Art. 2426; No. 30, Art. 3101; 2006, No. 19, Art. 2061; No. 25, Art. 2648; 2007, No. 1, Art. 9, Art. 10; No. 10, Art. 1151; No. 18, Art. 2117; 2008, No. 42, Art. 4696, Art. 4699; No. 44, Art. 4982; No. 52, Art. 6229, Art. 6231; 2009, No. 1, Art. 25; No. 29, Art. 3629; No. 48, Art. 5731; 2010, No. 45, Art. 5756; 2011, No. 7, Art. 907; No. 27, Art. 3873; No. 43, Art. 5973; No. 48, Art. 6728; 2012, No. 50, Art. 6954; No. 53, Art. 7591, Art. 7607; 2013, No. 11, Art. 1076; No. 14, Art. 1649; No. 19, Art. 2329; No. 27, Art. 3438, Art. 3476, Art. 3477; No. 30, Art. 4084; No. 49, Art. 6336; No. 51, Art. 6695, Art. 6699; No. 52, Art. 6975; 2014, No. 19, Art. 2311, Art. 2317; No. 27, Art. 3634; No. 30, Art. 4219, No. 45, Art. 6154; No. 52, Art. 7543; 2015, No. 1, Art. 4, Art. 37; No. 27, Art. 3958, Art. 4001; No. 29, of the Art. 4348) establishes procedure and terms of cost determination of net assets of investment funds (further - net assets value), including procedure of payments of annual average net assets value of mutual investment fund and net assets of joint-stock investment fund, net assets value of joint-stock investment funds counting on one share, determinations of settlement cost of investment shares of mutual investment funds, procedure for cost determination of the property transferred to payment of investment shares.

Chapter 1. Procedure and terms of cost determination of net assets of investment funds

1.1. Cost determination of net assets of investment funds is performed according to the Federal Law "About Investment Funds", regulations adopted according to it, this Instruction and the local act of joint-stock investment fund or managing company of mutual investment fund (further - Rules of cost determination of net assets).

Rules of cost determination of net assets shall conform to requirements of the legislation of the Russian Federation, including this Instruction and other regulations of the Bank of Russia.

The managing company of mutual investment fund and joint-stock investment fund shall determine net assets value according to the Rules of cost determination of net assets approved by specialized depositary.

1.2. Net assets value is determined as difference between the cost of all assets of mutual investment fund or assets of joint-stock investment fund (further - assets) and the size of all obligations which are subject to execution at the expense of the specified assets (further - obligations), at the time of cost determination of net assets.

1.3. The asset cost and size of obligations are determined at fair value according to the International accounting standard (IFRS) 13 "Assessment of fair value" <1> with observance of requirements of this Instruction, except as specified cost determinations of assets by the cost other than fair value, according to paragraphs the second - the fifth this Item.

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<1> No. 217n "About introduction of International accounting standards and Explanations of International accounting standards in action in the territory of the Russian Federation and about recognition voided some orders (separate provisions of orders) of the Ministry of Finance of the Russian Federation" is enacted in the territory of the Russian Federation by the order of the Ministry of Finance of the Russian Federation of December 28, 2015 (registration No. 40940) is registered by the Ministry of Justice of the Russian Federation on February 2, 2016, with the changes made by the order of the Ministry of Finance of the Russian Federation of July 11, 2016 No. 111n "About enforcement and cancellation of documents of International accounting standards in the territory of the Russian Federation" (registration No. 43044) (further - the order of the Ministry of Finance of the Russian Federation No. 111n is registered by the Ministry of Justice of the Russian Federation on August 1, 2016), with amendments, enacted in the territory of the Russian Federation by the order of the Ministry of Finance of the Russian Federation of June 27, 2016 No. 98n "About introduction of documents of International accounting standards in action in the territory of the Russian Federation and about recognition voided some orders of the Ministry of Finance of the Russian Federation" (registration No. 42869) (further - the order of the Ministry of Finance of the Russian Federation No. 98n is registered by the Ministry of Justice of the Russian Federation on July 15, 2016), the order of the Ministry of Finance of the Russian Federation No. 111n.

In the cases provided by Rules of cost determination of net assets and in case of observance of the conditions provided by Chapter 5 of the International Financial Reporting Standard (IFRS) 9 "Financial instruments" <2> (further - IFRS (IFRS) 9), according to the decision of managing company of mutual investment fund (joint-stock investment fund) made in case of the first cost determination of the following assets, the subsequent determination of their cost is performed only on depreciated cost according to IFRS (IFRS) 9:

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<2> It is enacted in the territory of the Russian Federation by the order of the Ministry of Finance of the Russian Federation No. 98n with the amendments enacted in the territory of the Russian Federation by the order of the Ministry of Finance of the Russian Federation No. 111n, the order of the Ministry of Finance of the Russian Federation of March 27, 2018 No. 56n "About introduction of documents of International accounting standards in action in the territory of the Russian Federation" (registration No. 50779) is registered by the Ministry of Justice of the Russian Federation on April 16, 2018, the order of the Ministry of Finance of the Russian Federation of June 4, 2018 No. 125n "About introduction of the document of International accounting standards in action in the territory of the Russian Federation" (registration No. 51396) is registered by the Ministry of Justice of the Russian Federation on June 21, 2018, the order of the Ministry of Finance of the Russian Federation of September 16, 2019 No. 146n "About introduction of the document of International accounting standards "Editorial corrections in IFRS" in action in the territory of the Russian Federation" (registration No. 56187) is registered by the Ministry of Justice of the Russian Federation on October 9, 2019, the order of the Ministry of Finance of the Russian Federation of April 7, 2020 No. 55n "About introduction of the document of International accounting standards "Reform of benchmark interest rate (The amendment to IFRS (IFRS) 9, IFRS (IAS) 39 and IFRS (IFRS) 7)" in action in the territory of the Russian Federation" (registration No. 58832) is registered by the Ministry of Justice of the Russian Federation on July 3, 2020, the order of the Ministry of Finance of the Russian Federation of December 14, 2020 No. 304n "About introduction of the document of International accounting standards "Amendments to IFRS (IFRS) 17 "Insurance contracts" in action in the territory of the Russian Federation" (it is registered by the Ministry of Justice of the Russian Federation on January 19, 2021, registration No. 62135), the order of the Ministry of Finance of the Russian Federation of February 17, 2021 No. 23n "About introduction of the document of International accounting standards "Reform of benchmark interest rate - stage 2 (Amendments to IFRS (IFRS) 9, IFRS (IAS) 39, IFRS (IFRS) 7, IFRS (IFRS) 4 and IFRS (IFRS) 16)" in action in the territory of the Russian Federation" (registration No. 62829), the order of the Ministry of Finance of the Russian Federation of February 17, 2021 No. 24n "About introduction of documents of International accounting standards "Amendments to references to "Conceptual bases" (Amendments to IFRS (IFRS) 3 "Integration of businesses") ", " fixed assets - receipts before proper use (The amendment to IFRS (IAS) 16 "Fixed assets" is registered by the Ministry of Justice of the Russian Federation on March 22, 2021)", "Burdensome agreements - costs for agreement performance (Amendments to IFRS (IAS) 37)" and "Annual enhancements of International accounting standards, the period of 2018 - 2020" in action in the territory of the Russian Federation" (registration No. 62828) is registered by the Ministry of Justice of the Russian Federation on March 22, 2021.

money in rubles and in foreign currency on accounts and in deposits (deposits) in the Russian credit institutions which term of return does not exceed one year from the date of opening of the specified deposits (deposits);

bonds which repayment period does not exceed one year from date as of which net assets value (asset cost) is determined;

rights to claim from loan agreements or credit agreements which repayment period (execution) does not exceed one year from date of issue of loan (credit).

1.4. The asset cost including determined based on the report of the appraiser (further - the report of the appraiser) constituted according to requirements of the Federal Law of July 29, 1998 No. 135-FZ "About estimative activities in the Russian Federation" (The Russian Federation Code, 1998, No. 31, Art. 3813; 2002, No. 4, Art. 251; No. 12, Art. 1093; No. 46, Art. 4537; 2003, No. 2, Art. 167; No. 9, Art. 805; 2004, No. 35, Art. 3607; 2006, No. 31, Art. 3456; 2007, No. 7, Art. 834; No. 29, Art. 3482; No. 31, Art. 4016; 2008, No. 27, Art. 3126; 2009, No. 19, Art. 2281; No. 29, Art. 3582; No. 52, Art. 6419, Art. 6450; 2010, No. 30, Art. 3998; 2011, No. 1, Art. 43; No. 27, Art. 3880; No. 29, Art. 4291; No. 48, Art. 6728; No. 49, Art. 7024, Art. 7061; 2013, №23, of Art. 2871; No. 27, Art. 3477; No. 30, Art. 4082; 2014, No. 11, Art. 1098; No. 23, Art. 2928; No. 26, Art. 3377; No. 30, Art. 4226; 2015, No. 1, Art. 52; No. 10, Art. 1418; No. 24, Art. 3372; No. 29, of the Art. 4342) (further - the Federal Law "About Estimative Activities in the Russian Federation"), is determined net of any taxes which are paid in accordance with the legislation of the Russian Federation or foreign state in case of acquisition and realization of the specified assets.

1.5. Assets (obligations) are accepted to calculation of net assets value in case of their recognition according to the International accounting standards enacted in the territory of the Russian Federation.

1.6. In case of cost determination of asset based on the report of the appraiser date of value assessment shall be not earlier than six months before date as of which net assets value (asset cost), except for the case specified in the paragraph the second this Item is determined.

If it is provided by Rules of cost determination of net assets, in case of cost determination of net assets (asset cost) of mutual investment funds (joint-stock investment funds), in rules of trust management (charter) of which is specified that investment shares (shares) are intended for skilled investors, the asset cost is determined based on the report of the appraiser with date of value assessment not earlier than one year before date as of which net assets value (asset cost) is determined, except as specified, when such asset cost of mutual investment fund is used for determination of settlement cost of investment share of mutual investment fund for the purpose of implementation of issue, repayment or exchange of investment shares of mutual investment fund.

The asset cost is determined based on the report of the appraiser, available at the time of cost determination of net assets (asset cost), with date of assessment, the closest to date of cost determination of asset.

1.7. The asset cost can be determined for the purposes of this Instruction based on the report of the appraiser if such report is constituted by the appraiser to whom from self-regulatory organizations of appraisers were not applied within two years in number of two and more times of measure of disciplinary impact, provided by the Federal Law "About Estimative Activities in the Russian Federation", and also internal documents of self-regulatory organizations of appraisers and whose years of service of implementation of estimative activities constitute at least three years.

1.8. In case of cost determination of net assets of obligations the reserve on payment of remuneration of managing company, to specialized depositary, auditing organization, the appraiser of joint-stock investment fund or mutual investment fund, person performing maintaining the shareholder register of joint-stock investment fund, to the exchange and person performing maintaining the register of owners of investment shares of mutual investment fund (further - reserve on remuneration payment) determined proceeding from the amount of remuneration provided to the corresponding persons by rules of trust management of mutual investment fund (contracts with joint-stock investment fund) is included. Obligations the reserve on payment of remuneration which amount depends on results of investment is not included.

Rules of cost determination of net assets of mutual investment fund (joint-stock investment fund), in rules of trust management (charter) of which it is specified that investment shares (shares) are intended for skilled investors, it can be provided that the reserve on payment of remuneration is not included obligations.

Inclusion in structure of obligations of other reserves, including reserve on payment of the expenses connected with the property trust management constituting mutual investment fund or the property constituting assets of joint-stock investment fund is not allowed.

1.9. Net assets value of joint-stock investment fund is determined monthly the last calendar day of month.

1.10. Net assets value of mutual investment fund is determined:

for date of completion (termination) of forming of mutual investment fund;

in case of suspension of issue, repayment and exchange of investment shares - for date of renewal of their issue, repayment and exchange;

in case of the termination of mutual investment fund - for date of emergence of the basis of its termination;

after completion (termination) of forming of open mutual investment fund or exchange mutual investment fund - each working day;

after completion of forming of interval mutual investment fund or closed-end investment fund:

monthly the last working day of calendar month;

the last working day of term of order taking for acquisition, repayment and exchange of investment shares, except for case when in rules of trust management of closed-end investment fund it is specified that investment shares are intended for skilled investors;

for date of creation of the list of owners of investment shares in case of partial repayment of investment shares without statement of requirements of owners of investment shares for their repayment, except for case when in rules of trust management of closed-end investment fund it is specified that investment shares are intended for skilled investors;

for other dates specified in rules of cost determination of net assets.

Net assets value of mutual investment funds (joint-stock investment funds), in rules of trust management (charter) of which it is not specified that investment shares (shares) are intended for skilled investors, it is determined no later than the working day following behind day as of which cost determination of net assets is performed.

Net assets value of mutual investment funds (joint-stock investment funds), in rules of trust management (charter) of which it is specified that investment shares (shares) are intended for skilled investors, it is determined no later than three working days following behind day as of which cost determination of net assets is performed.

1.11. Net assets value, including annual average net assets value, and also net assets value of joint-stock investment fund counting on one share and estimated cost of investment share of mutual investment fund are determined with accuracy not smaller, than to two signs after comma, using rules of mathematical rounding in the currency specified in rules of trust management of mutual investment fund (the charter of joint-stock investment fund).

If in rules of trust management of mutual investment fund (the charter of joint-stock investment fund) the currency in which are determined net assets value is not specified, including annual average net assets value, net assets value of joint-stock investment fund counting on one share or estimated cost of investment share of mutual investment fund specified to cost are determined in rubles.

1.12. In cases of change of data based on which net assets value was determined net assets value is subject to recalculation. Recalculation of net assets value can not be performed only in case the variation of the asset cost (obligation) used in calculation constitutes less than 0,1 of % of correct net assets value and variation of net assets value for this moment of calculation constitutes less 0,1 of % of correct net assets value.

1.13. These, confirmatory calculations of sizes made according to this Instruction are stored at least three years from the date of the corresponding calculation.

1.14. To the copy of reports of the appraisers used within the last three years in case of cost determination of net assets of mutual investment funds (joint-stock investment funds) in rules of trust management (charter) of which it is not specified that investment shares (shares) are intended for skilled investors, no later than three working days from the date of use when calculating net assets value in full reveal on the website of managing company of mutual investment fund (joint-stock investment fund) on the Internet.

Copies of reports of the appraisers used within the last three years in case of cost determination of net assets are provided upon the demand of owners of investment shares of mutual investment funds and shareholders of joint-stock investment fund. The payment levied for provision of the specified copies cannot exceed costs for their production.

1.15. Results of cost determination of net assets of mutual investment fund or net assets of joint-stock investment fund, and also settlement cost of investment share of mutual investment fund and net assets value of joint-stock investment fund counting on one share are reflected in the certificate of net assets value, except for cost determinations of net assets of mutual investment fund before completion of its forming.

1.16. Rules of cost determination of net assets (change and amendment) affirm as them executive body of managing company of mutual investment fund under approval of specialized depositary (its executive body) or executive body of joint-stock investment fund under approval of specialized depositary (its executive body).

The specialized depositary approves Rules of cost determination of net assets (change and amendment in them) only on condition of compliance to their requirements of the legislation of the Russian Federation, including this Instruction and other regulations of the Bank of Russia.

1.17. Rules of cost determination of net assets shall contain:

recognition criteria (derecognitions) of assets (obligations);

methods of cost determination of assets and sizes of obligations, including the description of data sources for cost determination of assets (size of obligations), procedure for their choice, procedure for converting of sizes of the costs expressed in one currency in other currency, procedure for recognition of the markets of assets and liabilities active, criteria of the choice of methods and models of value assessment depending on asset types and obligations, and also the list of the assets which are subject to assessment by the appraiser and frequency of carrying out such assessment;

time as of which net assets value is determined;

frequency (dates) of cost determination of net assets;

reserve size procedure of payments on payment of remuneration or regulations that such reserve is not included obligations;

procedure for settlement of disagreements between managing company (joint-stock investment fund) and specialized depositary in case of cost determination of net assets;

date (procedure for determination of date) began applications of Rules of cost determination of net assets (changes and amendments in them);

date and time as of which the property value is determined, the mutual investment fund transferred to payment of investment shares, or procedure for their determination if rules of trust management of such fund provide possibility of transfer of other property in addition to money in payment of investment shares;

cases (the description of cases) when according to the decision of managing company (joint-stock investment fund) made in case of the first cost determination of assets, the provided in paragraphs three - the fifth Item 1.3 of this Instruction, the subsequent determination of their cost is performed only on depreciated cost according to IFRS (IFRS) 9 (if the managing company (joint-stock investment fund) intends it (intends) to make the decision provided in the paragraph the second Item 1.3 of this Instruction);

other information necessary for cost determination of net assets (in the presence).

1.18. Methods of cost determination of the assets which are part of property of the different mutual investment funds and (or) joint-stock investment funds which are under control of one managing company shall not differ, except for the following cases:

in connection with impossibility of modification and amendments in Rules of cost determination of net assets of one or several mutual investment funds (joint-stock investment funds) which are under control of one managing company, owing to prohibition, stipulated in Item 1.20 these Instructions;

because Rules of cost determination of net assets of such mutual investment funds and (or) joint-stock investment funds provide possibility of cost determination of assets, the provided in paragraphs three - the fifth Item 1.3 of this Instruction as at fair value, and on depreciated cost.

The cost of one asset provided in paragraphs three - the fifth Item 1.3 of this Instruction and the property of mutual investment fund (joint-stock investment fund) which is part, cannot be determined at the same time as at fair value, and by depreciated cost.

1.19. Rules of cost determination of net assets affirm no later than day of the beginning of term of forming of mutual investment fund or no later than date of provision of the license to joint-stock investment fund.

1.20. Changes and additions in Rules of cost determination of net assets cannot be made (except as specified impossibility of cost determination of net assets or reduction of Rules of cost determination of net assets to compliance with the paragraph the second Item 1.1 of this Instruction):

during the period from start date before date of completion (termination) of forming of mutual investment fund;

during the period from decision date about issue of additional investment shares of closed-end investment fund and before completion of the corresponding procedure;

during the period from decision date about reorganization or liquidation of joint-stock investment fund and before date of completion of the corresponding procedures;

after date of emergence of the basis of the termination of mutual investment fund.

1.21. The rule of cost determination of net assets of mutual investment funds (joint-stock investment funds), in rules of trust management (charter) of which is not specified that investment shares (shares) are intended for skilled investors, reveal managing company of mutual investment fund (joint-stock investment fund) on the website on the Internet no later than day of the beginning of term of forming of mutual investment fund or no later than date of provision of the license to joint-stock investment fund.

Change and additions made to Rules of cost determination of net assets of mutual investment funds (joint-stock investment funds) in rules of trust management (charter) of which is not specified that investment shares (shares) are intended for skilled investors, reveal managing company of mutual investment fund (joint-stock investment fund) on the website on the Internet no later than five working days before start date of application of Rules of cost determination of net assets, with the made changes and additions.

On the website of managing company of mutual investment fund (joint-stock investment fund) on the Internet Rules of cost determination of net assets of mutual investment funds (joint-stock investment funds) shall be available, in rules of trust management (charter) of which it is not specified that investment shares (shares) are intended for skilled investors, acting within three last calendar years, and all changes and additions made to Rules of cost determination of net assets in three last calendar years.

Rules of cost determination of net assets of mutual investment funds (joint-stock investment funds), in rules of trust management (charter) of which it is specified that investment shares (shares) are intended for skilled investors, with the made changes and additions are provided by managing company of mutual investment fund (joint-stock investment fund) upon the demand of interested persons, except for the case provided by the paragraph the sixth this Item.

Changes and additions made to Rules of cost determination of net assets of mutual investment funds (joint-stock investment funds) in rules of trust management (charter) of which it is specified that investment shares (shares) are intended for skilled investors, are provided by managing company of mutual investment fund (joint-stock investment fund) to owners of investment shares of mutual investment fund (shareholders of joint-stock investment fund) no later than five working days before start date of application of Rules of cost determination of net assets with the made changes and additions, except for the case provided by the paragraph the sixth this Item.

If it is provided by Rules of cost determination of net assets of mutual investment fund (joint-stock investment fund), in rules of trust management (charter) of which is specified that investment shares (shares) are intended for skilled investors, Rules of cost determination of net assets of such fund, and also changes and additions made to them reveal managing company (joint-stock investment fund) on the website on the Internet according to paragraphs the first - third this Item.

1.22. Rules of cost determination of net assets (change and amendment in them) mutual investment funds (joint-stock investment funds), in rules of trust management (charter) of which it is specified that investment shares (shares) are intended for skilled investors, are represented by managing company of mutual investment fund (joint-stock investment fund) in notifying procedure to the Bank of Russia within two working days from the date of their approval and approval of specialized depositary (but no later than start date of their application) by the direction of the electronic document signed by the strengthened qualified digital signature on telecommunication channels, including through the Internet. The explanation of the reasons of introduction of these changes and amendments is attached to changes and amendments in Rules of cost determination of net assets.

If Rules of cost determination of net assets (change and amendment in them) reveal managing company (joint-stock investment fund) according to the paragraph the sixth Item 1.21 of this Instruction, their submission to the Bank of Russia according to paragraph one of this Item is not required.

1.23. Ceased to be valid according to the Instruction of the Central bank of the Russian Federation of 28.06.2024 No. 6779-U

Chapter 2. Procedure of payments of annual average net assets value of mutual investment fund and net assets of joint-stock investment fund, net assets value of joint-stock investment funds counting on one share and determinations of settlement cost of investment shares of mutual investment funds

2.1. Annual average net assets value of mutual investment fund and net assets of joint-stock investment fund for any day is determined as the relation of the amount of net assets values for each working day of calendar year (if for the working day of calendar year net assets value was not determined - the last day its determinations preceding such day) since the beginning of year (from the date of completion (termination) of forming of mutual investment fund or receipt of the license by joint-stock investment fund) before settlement date of annual average net assets value to number of the working days in calendar year.

In rules of cost determination of net assets of mutual investment fund and joint-stock investment fund, it can be provided that annual average net assets value of such funds for any day is determined as the relation of the amount of net assets values for each working day of calendar year (if for the working day of calendar year net assets value was not determined - the last day its determinations preceding such day) since the beginning of year (from the date of completion (termination) of forming of mutual investment fund or receipt of the license by joint-stock investment fund) before settlement date of annual average net assets value to number of the working days for this period.

2.2. Estimated cost of investment share of mutual investment fund is determined for each date for which net assets value of this fund, by division of net assets value of mutual investment fund into quantity of investment shares according to the register of owners of investment shares of this mutual investment fund for date of determination of settlement cost is determined.

2.3. Net assets value of joint-stock investment fund counting on one share is determined by division of net assets value into the number of placed shares of this fund into date of its determination. At the same time the number of placed shares of joint-stock investment fund is determined proceeding from the registered reports on release results (additional release) of shares less the number of the shares acquired or redeemed by joint-stock investment fund.

2.4. Recalculation of annual average net assets value of mutual investment fund and net assets of joint-stock investment fund, net assets value of joint-stock investment fund counting on one share and the settlement cost of investment share of mutual investment fund is performed in case of recalculation of net assets value.

Chapter 3. Procedure for cost determination of the property transferred to payment of investment shares

3.1. The property value, transferred to payment of investment shares, is determined according to requirements of the Federal Law "About Investment Funds", the regulations adopted according to it, requirements of this Instruction and Rules of cost determination of net assets.

3.2. Date as of which the property value is determined of the mutual investment fund transferred to payment of investment shares, cannot be before date of transfer of such property to payment of investment shares, except as specified cost determinations of the property transferred to payment of investment shares of mutual investment fund based on the report of the appraiser.

Date as of which the property value is determined of the mutual investment fund transferred to payment of investment shares, based on the report of the appraiser, cannot be before three months before date of transfer of such property to payment of investment shares.

Chapter 4. Final provisions

4.1. This Instruction is subject to official publication in "the Bulletin of the Bank of Russia" and according to the solution of the Board of directors of the Bank of Russia (the minutes of the Board of directors of the Bank of Russia of July 31, 2015 No. 23) become effective since January 1, 2016.

4.2. From the date of entry into force of this Instruction not to apply:

the order of the Federal Service for Financial Markets of June 15, 2005 No. 05-21/pz-n "About approval of the Regulations on procedure and terms of cost determination of net assets of joint-stock investment funds, net assets value of mutual investment funds, the settlement cost of investment shares of mutual investment funds, and also net assets value of joint-stock investment funds counting on one share", No. 6769 registered by the Ministry of Justice of the Russian Federation on July 11, 2005 (The bulletin of regulations of federal executive bodies of July 18, 2005 No. 29);

the order of the Federal Service for Financial Markets of December 15, 2005 No. 05-83/pz-n "About introduction of amendments to the Order of the Federal Service for Financial Markets of 30.03.2005 No. 05-8/pz-n "About approval of the Regulations on structure and structure of assets of joint-stock investment funds and assets of mutual investment funds", and also in the Regulations on procedure and terms of cost determination of net assets of joint-stock investment funds, net assets values of mutual investment funds, the settlement cost of investment shares of mutual investment funds, and also net assets value of joint-stock investment funds counting on one share approved by the Order of the Federal Service for Financial Markets of 15.06.2005 No. 05-21/pz-n", No. 7387 registered by the Ministry of Justice of the Russian Federation on January 19, 2006 (The bulletin of regulations of federal executive bodies of February 20, 2006 No. 8);

Item 1 of changes which are made to orders of the Federal Service for Financial Markets, approved by the order of the Federal Service for Financial Markets of July 16, 2009 No. 09-27/pz-n "About introduction of amendments to some Orders of the Federal Service for Financial Markets", the registered Ministry of Justice of the Russian Federation on September 1, 2009 No. 14680 (The Russian newspaper of September 9, 2009);

Item 3 of changes which are made to some regulatory legal acts of the Federal Service for Financial Markets, approved by the order of the Federal Service for Financial Markets of November 10, 2009 No. 09-45/pz-n "About approval of the Regulations on decrease (restriction) in the risks connected with trust management of assets of investment funds, investment of funds of pension reserves, investment of means of pension accruals and accumulatings for housing providing the military personnel and also about approval of changes in some regulatory legal acts of the Federal Service for Financial Markets", the registered Ministry of Justice of the Russian Federation on January 20, 2010 No. 16030 (The bulletin of regulations of federal executive bodies of March 8, 2010 No. 10);

Item 3 of the order of the Federal Service for Financial Markets of April 24, 2012 No. 12-27/pz-n "About modification of some regulatory legal acts of the Federal Service for Financial Markets", No. 24428 registered by the Ministry of Justice of the Russian Federation on June 1, 2012 (The Russian newspaper of July 6, 2012).

 

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