Federal Law "On Commodity Exchanges and Exchange Trade". General Provisions
LAW OF THE REPUBLIC OF BELARUS
About commodity exchanges
Adopted by the House of Representatives on December 12, 2008
Approved by the Council of the Republic on December 19, 2008
Changes and additions:
Law of the Republic of Belarus dated July 9, 2012 No. 388-З (National Legal Internet Portal of the Republic of Belarus, July 17, 2012, 2/1940)
Law of the Republic of Belarus of July 1, 2014 No. 174-З (National Legal Internet Portal of the Republic of Belarus, July 10, 2014, 2/2172)
Law of the Republic of Belarus dated July 8, 2015 No. 284-З (National Legal Internet Portal of the Republic of Belarus, July 14, 2015, 2/2282)
CHAPTER 1
GENERAL PROVISIONS
Article 1. Basic terms and their definitions
For the purposes of this Law, the following basic terms and their definitions are applied:
accreditation - granting by a commodity exchange to legal entities of the Republic of Belarus, foreign and international legal entities (organizations that are not legal entities) and individuals of the rights to participate in exchange trading and conclude exchange transactions as visitors to exchange trading or exchange brokers on the basis of agreements for exchange services ;
exchange logistics activities - activities of legal entities of the Republic of Belarus, individual entrepreneurs registered in the Republic of Belarus, as well as foreign, international legal entities (organizations that are not legal entities) for storage, transportation and examination of the quality of exchange commodities;
exchange transaction - an agreement concluded by exchange trading participants in relation to an exchange commodity following the results of exchange trading;
exchange trading - the activity of a commodity exchange and exchange trading participants aimed at concluding exchange transactions;
stock broker - a participant in stock trading that provides intermediary services to the stock broker's clients for concluding stock transactions on behalf of the stock broker's client at his expense, on behalf of the stock broker's client at his own expense and on his own behalf at the expense of the stock broker's client;
exchange fee - a fee for organizing and conducting exchange trading charged by the commodity exchange from participants in exchange trading, the amount of which is determined in accordance with the legislation;
exchange commodity - any things defined by generic characteristics, not withdrawn from circulation, as well as property rights, unless otherwise provided by this Law and (or) the President of the Republic of Belarus, admitted by the commodity exchange to exchange trading in accordance with the legislation. In the cases established by the President of the Republic of Belarus or the Council of Ministers of the Republic of Belarus, works and services can be classified as exchange goods;
exchange trading - the procedure for concluding exchange transactions;
OTC transaction - an agreement concluded in relation to an exchange commodity outside of exchange trading;
a client of a stock broker is a legal entity of the Republic of Belarus, a foreign, international legal entity (an organization that is not a legal entity) or individual who have entered into appropriate agreements with a stock broker for the provision of intermediary services;
clearing - determination, accounting and offsetting of obligations arising from the conclusion of exchange transactions;
quotation of prices - identification by a commodity exchange of prices for exchange commodities according to the method of quotation of prices, approved in the manner determined by the charter of a commodity exchange, taking into account the requirements of the legislation;
broker - an employee of a commodity exchange authorized to conduct exchange trading and control the proper implementation of the rules of exchange trading of a commodity exchange during exchange trading;
visitor of exchange trading - a participant in exchange trading who concludes exchange transactions on his own behalf and at his own expense;
settlement bank - a bank, non-bank credit and financial institution that reflects clearing results in the accounts of exchange trading participants and clients of exchange brokers;
real goods - exchange goods, with the exception of property rights, works and services;
section - a specialized area of activity of a commodity exchange, within which exchange trading in one or more groups of exchange commodities is carried out;
standard contract - an agreement corresponding to the form approved in accordance with the legislation by the commodity exchange, and providing for the sale and purchase of exchange commodities with certain conditions for its transfer and (or) other conditions for the fulfillment of obligations in the future;
commodity exchange - a legal entity that organizes and regulates exchange trading by holding open public trades at a predetermined time in accordance with established rules;
trading session - the period during which participants in exchange trade conclude exchange transactions;
trading day - the day on which the exchange trades are held on the commodity exchange;
exchange trading participant - a legal entity of the Republic of Belarus, a foreign, international legal entity (an organization that is not a legal entity) or an individual accredited by a commodity exchange as visitors to exchange trading and (or) stock brokers.
Article 2. Legislation on commodity exchanges
The legislation on commodity exchanges is based on the Constitution of the Republic of Belarus and consists of this Law, acts of the President of the Republic of Belarus and other legislative acts regulating relations arising in the process of creating and operating commodity exchanges, as well as exchange trading.
If an international treaty of the Republic of Belarus establishes rules other than those provided for by this Law, then the rules of the international treaty are applied.
Article 3. Scope of this Law
This Law regulates relations arising in the process of creation and operation of commodity exchanges, as well as exchange trading.
This Law does not apply to relations arising in connection with the conclusion of sales and purchase agreements. valuable papers and currency values, as well as other objects civil rights which are traded in accordance with other legislative acts.
CHAPTER 2
STATE REGULATION OF COMMODITY EXCHANGE ACTIVITIES
Article 4. Implementation of state regulation of the activities of commodity exchanges
Government regulation the activities of commodity exchanges are carried out by the President of the Republic of Belarus, the Council of Ministers of the Republic of Belarus, the Ministry of Trade of the Republic of Belarus, other state bodies within their competence determined by legislation.
Article 5. Powers of the President of the Republic of Belarus in the field of state regulation of the activities of commodity exchanges
The President of the Republic of Belarus in the field of state regulation of the activities of commodity exchanges determines the state policy and exercises other powers in accordance with the Constitution of the Republic of Belarus, this Law and other legislative acts.
Article 6. Powers of the Council of Ministers of the Republic of Belarus in the field of state regulation of the activities of commodity exchanges
The Council of Ministers of the Republic of Belarus in the field of state regulation of the activities of commodity exchanges within the limits of its competence:
ensures implementation public policy;
determines, in the cases established by the President of the Republic of Belarus, the list of goods, transactions with which legal entities and individual entrepreneurs are obliged to conclude on exchange auctions, including foreign trade, and the conditions for concluding such transactions;
establishes cases of classifying works and services as exchange goods;
establishes the cases, terms and procedure for submission by a party of an over-the-counter transaction to a commodity exchange of information for registering an over-the-counter transaction, the composition of such information, as well as the procedure for registering an over-the-counter transaction by a commodity exchange, maintaining a register of these transactions and presenting information from this register to interested parties;
approves the standard rules for exchange trading on commodity exchanges;
establishes the procedure for determining the size of the exchange fee by commodity exchanges;
establishes the procedure for the formation of the guarantee fund of the commodity exchange and the use of its funds;
approves the regulation on the coordination council for exchange trading and its composition;
exercises other powers in accordance with the Constitution of the Republic of Belarus, this Law, other laws and acts of the President of the Republic of Belarus.
Article 7. Powers of the Ministry of Trade of the Republic of Belarus in the field of state regulation of the activities of commodity exchanges
The Ministry of Trade of the Republic of Belarus in the field of state regulation of the activities of commodity exchanges within its competence:
carries out state control compliance with the legislation on commodity exchanges;
develops and submits to the Council of Ministers of the Republic of Belarus proposals for improving the legislation on commodity exchanges;
exercises other powers in accordance with the legislation.
Article 8. Coordination Council for Exchange Trading
The Coordination Council for Exchange Trading is an interdepartmental permanent body that ensures interaction government agencies with commodity exchanges on the organization of exchange trading.
The regulation on the coordination council for exchange trading and its composition are approved by the Council of Ministers of the Republic of Belarus.
CHAPTER 3
ESTABLISHMENT AND ORGANIZATION OF THE COMMODITY EXCHANGE ACTIVITIES
Article 9. Creation of a commodity exchange. Articles of Association of a Commodity Exchange
The commodity exchange is created in the form of a joint stock company.
In addition to the information provided for by law, the charter of a commodity exchange must define:
the procedure for adopting the rules of exchange trading of a commodity exchange;
the procedure for the formation of exchange committees and the adoption of regulations on them;
the procedure for approving the price quotation methodology, taking into account the requirements of the legislation;
the procedure for creating an arbitration commission, approving the regulations on it and the rules of the arbitration commission.
Article 10. Activities of a commodity exchange. Restrictions for founders (participants) and employees of a commodity exchange
The commodity exchange has the right to carry out activities related to the organization and regulation of exchange trading, as well as other activities provided for by this Law and other legislative acts. In cases determined by the Council of Ministers of the Republic of Belarus, the commodity exchange is also entitled to carry out activities to ensure the conduct of electronic trading and procurement procedures in electronic format.
A commodity exchange cannot be a participant in exchange trading and a client of a stock broker.
The founders (participants) of a commodity exchange, who, due to their predominant participation in its authorized capital, or in accordance with an agreement concluded between them, or otherwise have the opportunity to determine decisions made by a commodity exchange, are prohibited from participating in exchange transactions on this commodity exchange, use in own interests, as well as to disclose information that is not publicly available about the participants in exchange trading, about the clients of stock brokers and their activities.
Employees of a commodity exchange are prohibited from participating in exchange transactions, performing work on the basis of an employment and (or) civil law contract with a participant in exchange trading, using in their own interests, and also disclosing information that is not publicly available about exchange trading participants, clients of exchange brokers and their activities.
Article 11. The main tasks and functions of the commodity exchange
The main tasks of a commodity exchange are:
promoting the development of an organized market for goods (works, services);
increasing the efficiency of export of goods of Belarusian manufacturers and the sustainability of their material and raw materials supply;
simplification of the procedure for searching for sellers (contractors, performers) and buyers (customers) of exchange commodities;
creation of a trading mechanism with the most transparent system for concluding exchange transactions in accordance with the established rules.
The main functions of a commodity exchange include:
creation of conditions for holding exchange trading;
conducting exchange trading;
registration of exchange transactions, as well as over-the-counter transactions;
organization of examination of the quality of exchange commodities in cases stipulated by the rules of exchange trading of a commodity exchange;
identification of demand and supply of goods (works, services);
price quotation;
study of factors influencing the dynamics of prices for exchange commodities;
information services for participants in exchange trading, clients of exchange brokers and other interested parties;
organization and development of exchange logistics activities.
Article 12. Restrictions on the use of the words "commodity exchange"
Only legal entities that are commodity exchanges have the right to use the words "commodity exchange" in their name (company name).
Article 13. Members of the commodity exchange
Members of a commodity exchange are participants in exchange trading who are admitted to members of a commodity exchange in the manner prescribed by the rules of exchange trading of a commodity exchange.
Members of a commodity exchange have the right to be a member of exchange committees established by a commodity exchange in accordance with the provisions on exchange committees.
Members of a commodity exchange may have other rights in accordance with the legislation and rules of exchange trading of a commodity exchange.
Members of a commodity exchange perform their duties in accordance with the legislation and rules of exchange trading of the commodity exchange.
The procedure for terminating membership is established by the rules of exchange trading of a commodity exchange.
Violation of the rights of members of a commodity exchange, unlawful imposition of duties on them, refusal of a commodity exchange to become a member of a commodity exchange, a decision to exclude from members of a commodity exchange may be appealed against in court.
Article 14. Exchange committees
Exchange committees are advisory bodies of a commodity exchange and act in accordance with the provisions on exchange committees adopted in the manner prescribed by the charter of a commodity exchange.
Exchange committees can be created by a commodity exchange in sections to analyze and generalize the results of exchange trading, prepare proposals for improving the methods and forms of exchange trading.
Exchange committees may include employees of a commodity exchange, members of a commodity exchange and their representatives, manufacturers, sellers (contractors, executors) and buyers (customers) of exchange commodities and their representatives, representatives of government bodies and other organizations in accordance with the provisions on exchange committees.
Article 15. Arbitration Commission
In order to consider disputes on exchange transactions, with the exception of disputes to which the commodity exchange or its employees are a party, an arbitration commission is created by the commodity exchange, which is a permanent arbitration body.
The regulations on the arbitration commission and the rules of the arbitration commission after their agreement with The Supreme Court Of the Republic of Belarus are approved in the manner prescribed by the charter of the commodity exchange.
Article 16. Guarantee fund of a commodity exchange
Commodity exchange can create by own funds and other sources not prohibited by law, a guarantee fund for providing guarantees (sureties) for the fulfillment of obligations of exchange trading participants and clients of exchange brokers for exchange transactions.
The procedure for the formation of the guarantee fund of the commodity exchange and the use of its funds is established by the Council of Ministers of the Republic of Belarus.
Article 16 1. Organization and development of exchange logistics activities
The Commodity Exchange organizes and develops stock exchange logistics activities, including by:
participation in the creation of logistics centers and a network of exchange warehouses;
cooperation with transport and forwarding organizations and carriers;
rendering assistance to participants in exchange trading, clients of exchange brokers and other interested parties in the storage, transportation and examination of the quality of exchange commodities.
CHAPTER 4
EXCHANGE TRADE ORGANIZATION
Article 17. Rules for exchange trading of a commodity exchange
The commodity exchange, in the manner determined by its charter, accepts the rules of exchange trading of the commodity exchange.
The rules of exchange trading of a commodity exchange must define:
the procedure for accrediting legal entities of the Republic of Belarus, foreign and international legal entities (organizations that are not legal entities) and individuals as visitors to exchange trading or stock brokers, including the procedure for concluding agreements for exchange services;
the procedure for registering clients of stock brokers;
the procedure for accepting participants in exchange trading as members of a commodity exchange, terminating membership, as well as the rights and obligations of members of a commodity exchange;
types of exchange transactions;
section names;
the procedure for conducting exchange trading;
the procedure for informing exchange trading participants about the upcoming exchange trading;
the procedure for participation in exchange trading of exchange trading participants;
the procedure for the conclusion, registration, registration and accounting of exchange transactions;
measures taken by a commodity exchange to prevent a sharp increase or decrease in price levels during trading day, trading session, artificial overstatement or understatement of prices (price manipulation);
measures aimed at ensuring compliance by exchange trading participants and clients of exchange brokers with the legislation on commodity exchanges, the rules of exchange trading of a commodity exchange, and compliance with decisions of the management bodies of a commodity exchange taken in order to regulate exchange trading in accordance with the law;
the procedure for a commodity exchange to control the execution of exchange transactions;
a list of measures used by a commodity exchange for violating the rules of exchange trading of a commodity exchange, a list of violations for which they are applied, as well as the procedure for applying such measures;
other provisions governing exchange trading.
The rules of the exchange trading of the commodity exchange must comply with model rules exchange trading on commodity exchanges approved by the Council of Ministers of the Republic of Belarus.
Article 18. Exchange commodity
Goods (works, services) for which fixed prices are established by law, as well as property rights to intellectual property objects, are not allowed to exchange trading.
The list of exchange commodities admitted to exchange trading on the commodity exchange is determined by the commodity exchange in accordance with the legislation.
Article 19. Exchange deals
Transactions may be concluded on the commodity exchange, which are the basis for:
the emergence of rights and obligations in relation to real goods;
the emergence of rights and obligations for the performance of work (provision of services);
the emergence of rights and obligations in relation to real goods with a delayed delivery date ( forward transactions);
the emergence of rights and obligations associated with the conclusion of standard contracts ( futures transactions);
assignment of rights for the future transfer of rights and obligations in relation to the exchange commodity, including under standard contracts (option transactions).
At the same time, standard contracts concluded on the commodity exchange and containing the terms of futures or options transactions are not securities.
On the commodity exchange, in accordance with the legislation, other transactions in relation to the exchange commodity provided for by the rules of exchange trading of the commodity exchange may also be concluded.
An exchange transaction is considered concluded from the moment of its registration by a commodity exchange, unless otherwise provided by the rules of exchange trading of a commodity exchange.
Transactions concluded on a commodity exchange, but not complying with the requirements of this Law, are not exchange transactions.
Article 19 1. Registration of over-the-counter transactions
In the cases, terms and procedure established by the Council of Ministers of the Republic of Belarus, a party to an over-the-counter transaction is obliged to submit to the commodity exchange the relevant information for registering an over-the-counter transaction.
Composition of information submitted for registration of an over-the-counter transaction in accordance with part one of this article, established by the Council of Ministers of the Republic of Belarus. Such information cannot constitute a commercial secret.
The commodity exchange registers over-the-counter transactions, maintains a register of these transactions and provides interested parties with information from this register in the manner established by the Council of Ministers of the Republic of Belarus.
Article 20. Visitors to exchange trading
Visitors to exchange trades can be:
individuals, including foreign citizens and stateless persons.
Visitors to exchange trading have the right to:
Visitors to exchange trading have other rights in accordance with this Law, other legislation and the rules of exchange trading of a commodity exchange.
Visitors to exchange trades must:
to provide, in the manner prescribed by the commodity exchange, information on the fulfillment of obligations under the concluded exchange transactions;
to provide, in the cases established by the legislation, security for the fulfillment of obligations under exchange transactions in the manner prescribed by the rules of exchange trading of a commodity exchange;
perform other duties in accordance with the legislation.
Article 21. Stock brokers
Stock brokers can be:
legal entities of the Republic of Belarus, foreign and international legal entities (organizations that are not legal entities);
individual entrepreneurs registered in the Republic of Belarus.
Stock brokers have the right to:
mediate in the conclusion of exchange transactions;
submit applications to the commodity exchange for the sale and (or) purchase of exchange commodities;
participate in exchange trading, conclude exchange transactions;
receive the necessary information from the commodity exchange in the manner prescribed by the rules of exchange trading of the commodity exchange.
Stock brokers have other rights in accordance with this Law, other legislation and the rules of exchange trading of a commodity exchange.
Stock brokers are required to:
comply with the legislation on commodity exchanges, the rules of exchange trading of the commodity exchange, comply with the decisions of the governing bodies of the commodity exchange, taken in order to regulate exchange trading in accordance with the legislation;
register a stock broker's client on a commodity exchange before submitting an application for the sale and (or) purchase of a stock exchange product in the interests of such a client;
advise clients of stock brokers on issues related to exchange transactions concluded in their interests, including on the quality and properties of exchange commodities;
realize documenting exchange transactions;
register, keep records and store documents related to their activities as a stock broker, as well as submit these documents to the commodity exchange at its request;
to provide, upon the request of a commodity exchange, additional information on exchange commodities put up for exchange trading;
pay the exchange fee in a timely manner;
perform other duties in accordance with this Law and other legislation.
In contracts for the provision of intermediary services concluded by stock brokers with their clients, in addition to the conditions specified by law, the following essential conditions must be contained:
size and order of deposit Money;
the term for the fulfillment of the obligation;
grounds for termination of the contract;
the procedure for refunding funds in case of failure to fulfill an obligation or terminate the contract;
responsibility for failure to fulfill the obligation.
Article 22. Conducting exchange trading. Broker's rights and obligations
Exchange trading is carried out in the manner determined by the rules of exchange trading of the commodity exchange.
The broker has the right:
make official announcements and messages on issues related to the procedure for conducting exchange trading;
demand that participants in exchange trading comply with the legislation on commodity exchanges, the rules for exchange trading of a commodity exchange, and comply with decisions of the governing bodies of a commodity exchange adopted in order to regulate exchange trading in accordance with the legislation;
suspend participation in a trading session of an exchange trade participant in case of violation by him of the legislation on commodity exchanges, the rules of exchange trading of a commodity exchange, failure to comply with decisions of the governing bodies of a commodity exchange, taken in order to regulate exchange trading in accordance with the legislation;
sign the documents necessary for keeping records of exchange transactions in accordance with the rules of exchange trading of the commodity exchange.
The broker may have other rights in accordance with the legislation and rules of exchange trading of the commodity exchange.
The broker is obliged:
manage the process of conducting exchange trading in accordance with the rules of exchange trading of the commodity exchange;
exercise control over the compliance of the amount of the security provided by the exchange trade participant with the amount of the concluded exchange transactions;
take measures to prevent the occurrence of circumstances that impede the normal course of exchange trading;
to bring to the notice of exchange trading participants during exchange trading the decisions of the governing bodies of the commodity exchange, taken in order to regulate exchange trading in accordance with the legislation, and other information related to the procedure for conducting exchange trading;
perform other duties in accordance with the legislation and rules of exchange trading of the commodity exchange.
Article 23. Accounting for exchange transactions
A commodity exchange is obliged to keep records of exchange transactions concluded on this commodity exchange in the manner prescribed by the rules of exchange trading of a commodity exchange. A commodity exchange is obliged to provide information on exchange transactions concluded on this commodity exchange, at the request of the Ministry of Trade of the Republic of Belarus, and in cases established by legislative acts - other state bodies.
Stock brokers are obliged to keep records of the exchange transactions concluded by them for each client of the stock broker and store information about these transactions (including the originals of contracts with the stock broker's clients, documents relating to the conclusion and execution of exchange transactions, orders of the stock broker's clients, as well as documents confirming their fulfillment or non-fulfillment) within five years from the date of conclusion of the exchange transaction.
Stock brokers are obliged to submit information about the exchange transactions concluded by them at the request of the Ministry of Trade of the Republic of Belarus, and in cases established by legislative acts - other state bodies, as well as the commodity exchange on which such exchange transactions are concluded, in the manner established by this commodity exchange.
Article 24. Trade secret of a commodity exchange
Relations arising in connection with the establishment, change and cancellation of the trade secret regime of the commodity exchange, as well as in connection with the legal protection of the commercial secrets of the commodity exchange, are governed by the legislation on commercial secrets.
Article 25. Examination of the quality of real goods on the commodity exchange. Participation of a commodity exchange in the acceptance of real goods in terms of quantity and quality
A commodity exchange, at the request of a participant in exchange trading, in cases stipulated by the rules of exchange trading of a commodity exchange, is obliged to organize an examination of the quality of real goods put up for exchange trading and (or) sold at exchange trading.
The commodity exchange has the right to take part in the acceptance of real goods sold at exchange auctions in terms of quantity and quality.
Article 26. Securing the fulfillment of obligations under exchange transactions
On a commodity exchange, exchange transactions can be concluded with the provision of security for the fulfillment of obligations under exchange transactions and without the provision of such security.
Methods for ensuring the fulfillment of obligations under exchange transactions are determined by the commodity exchange in accordance with the legislation.
Article 27. Pricing in exchange trading
The price of an exchange commodity is established by agreement between the parties to an exchange transaction, unless otherwise provided by legislative acts.
The commodity exchange takes measures to prevent artificial overstatement or understatement of commodity prices (price manipulation).
Artificial overstatement or understatement of prices for exchange commodities (price manipulation) may include actions of exchange trading participants aimed at changing the price of an exchange commodity in order to derive profit from transactions with this exchange commodity or other benefits by:
simultaneous submission by the same exchange trading participant of applications for the sale and purchase of exchange commodities at prices that have a significant deviation from current market prices for similar exchange commodities;
dissemination of inaccurate information about the state of the market for goods (works, services) and its participants;
using other methods of price manipulation specified in the rules of exchange trading of the commodity exchange.
Article 28. Quotation of prices on the commodity exchange. Stock quotes
Quotation of prices on the commodity exchange is carried out in order to obtain information on prices for exchange commodities sold on the commodity exchange.
Quotation of prices is carried out by the commodity exchange, taking into account the supply and demand for exchange commodities for a certain period or for a certain date by analyzing exchange transactions, prices offered by exchange trading participants, pricing factors depending on the conditions for the execution of exchange transactions.
For participants in exchange trading, clients of exchange brokers and other persons, exchange quotes are for reference purposes, unless otherwise provided by law.
At the request of interested parties, a commodity exchange has the right to provide information on exchange quotations in the manner established by it.
Article 29. Clearing and settlement based on clearing results
Clearing based on the results of the conclusion of exchange transactions is carried out by a commodity exchange or another organization on the basis of an agreement concluded with a commodity exchange in the manner prescribed by law.
Settlements based on the results of clearing are carried out by the settlement bank in accordance with the legislation.
Article 30. Consideration of disputes on exchange transactions
Disputes on exchange transactions are considered by a court or an arbitration commission in accordance with the agreement of the parties to the exchange transaction, unless, in accordance with the legislation, the parties have chosen a different procedure for resolving disputes.
The procedure for considering disputes by the arbitration commission is determined by the rules of the arbitration commission.
An appeal against the decision of the arbitration commission can be made by filing a petition with the economic court of the region (city of Minsk) at the location of the arbitration commission to cancel it in the manner and on the grounds provided for by the economic procedural legislation.
The decisions of the arbitration commission are executed in the manner prescribed by the economic procedural legislation.
CHAPTER 5
FINAL PROVISIONS
Article 31. Invalidation of legislative acts and their individual provisions
In connection with the adoption of this Law, to declare invalid:
Law of the Republic of Belarus of March 13, 1992 "On commodity exchanges" (Vedamastsi Vyarkhounaga Saveta Respublikі Belarus, 1992, No. 11, art. 196);
Clause 3 of Article 2 of the Law of the Republic of Belarus of July 30, 2004 “On the Recognition of Legislative Acts as Invalid and Amendments to Some legislative acts Of the Republic of Belarus "(National Register of Legal Acts of the Republic of Belarus, 2004, No. 122, 2/1056);
Resolution of the Supreme Council of the Republic of Belarus dated March 13, 1992 "On the enactment of the Law of the Republic of Belarus" On commodity exchanges "(Vedamastsi Vyarkhounaga Saveta Respublikі Belarus, 1992, No. 11, article 197).
Article 32. Transitional Provisions
Commodity exchanges registered before the entry into force of this Law shall be obliged to bring their constituent documents and decisions of the governing bodies in accordance with this Law within one year from the date of its entry into force.
Until they are brought into conformity with this Law, the constituent documents and decisions of the governing bodies of commodity exchanges shall be valid to the extent that they do not contradict this Law.
Article 33. Bringing acts of legislation in accordance with this Law
To the Council of Ministers of the Republic of Belarus, within six months from the date of the official publication of this Law:
ensure the bringing of legislative acts in accordance with this Law;
take other measures necessary to implement the provisions of this Law.
Article 34. Entry into force of this Law
This Law shall enter into force six months after its official publication, with the exception of this article and Article 33, which come into force from the date of the official publication of this Law.
Law of the Russian Federation of February 20, 1992 N 2383-I "On commodity exchanges and exchange trading" (as amended on June 24, 1992, April 30, 1993, June 19, 1995, March 21, 2002, June 29 2004, December 26, 2005, April 15, 2006) This Law is aimed at regulating relations on the establishment and operation of commodity exchanges, exchange trading and providing legal guarantees for activities on commodity exchanges. Section I. General Provisions Article 1. Legislation on commodity exchanges and exchange trading Article 2. Concept of a commodity exchange Article 3. Scope of activity of a commodity exchange Article 4. Exchange unions, associations and other associations Article 5. Restrictions on the use of the words "exchange" and "commodity exchange "in the names of organizations Article 6. Exchange commodity Article 7. Exchange transaction Article 8. Types of exchange transactions Article 9. Exchange intermediation on commodity exchanges Article 10. Exchange intermediaries Section II. Establishment, organization and procedure for terminating the activity of a commodity exchange Article 11. Establishment of a commodity exchange Article 12. License to organize exchange trade Article 13. Liquidation of a commodity exchange Article 14. Members of a commodity exchange Article 15. Categories of members of a commodity exchange Article 16. General meeting members of a commodity exchange Article 17. Charter of a commodity exchange Article 18. Rules of exchange trading Section III. Organization of exchange trading and its participants Article 19. Participants of exchange trading Article 20. Participation of members of a commodity exchange in exchange trading Article 21. Visitors to exchange trading Article 22. Stock brokers Article 23. Licensing of exchange intermediaries, stock brokers Article 24. Accounting of exchange transactions by exchange intermediaries Article 25. Relations between exchange intermediaries and their clients Article 26. Brokerage guilds and their associations Article 27. Commodity examination on the commodity exchange Article 28. Guarantees in exchange trading when making forward, futures and options transactions Article 29. Guarantees of free prices in exchange trading Article 30. Resolution of disputes on the commodity exchange Article 31. Foreign economic activity commodity exchanges Article 32. Commodity exchange employees Section IV. State regulation of the activities of commodity exchanges Article 33. Abolished. Article 34. Functions federal body executive power in the field of financial markets to control and supervise the activities of commodity exchanges, stock intermediaries and stock brokers Article 35. Powers of the federal executive body in the field of financial markets to control and supervise the activities of commodity exchanges, exchange intermediaries and stock brokers Article 36. Sanctions for violation of this Law Article 37. State Commissioner on the commodity exchange Article 38. Guarantee of self-government of commodity exchangesArticle 1.
Introduce into the Law of the Russian Federation of February 20, 1992 N 2383-I "On commodity exchanges and exchange trade" (Bulletin of the Congress of People's Deputies of the Russian Federation and the Supreme Soviet of the Russian Federation, 1992, N 18, Art. 961; 1993, N 22, Art. . 790; Collected Legislation of the Russian Federation, 2004, No. 27, Art. 2711; 2006, No. 17, Art. 1776; 2009, No. 48, Art. 5731; 2011, No. 48, Art. 6728) the following changes:
1) Article 6 shall be supplemented with clause 4 as follows:
"4. The parties to over-the-counter transactions with exchange-traded goods, including long-term supply contracts, must provide the commodity exchange with information on such transactions in cases, in the manner, in the amount and terms established by the Government of the Russian Federation.";
2) in article 12:
a) in paragraph 1:
in the first paragraph, the word "issued" shall be replaced by the word "issued";
the second paragraph shall be declared invalidated;
b) clauses 2 - 5 shall be declared invalidated;
3) in the first part of Article 23, the word "issued" shall be replaced by the word "issued";
4) in part two of Article 24, the words "of the federal executive body in the field of financial markets" shall be replaced by the words "Bank of Russia";
5) Article 34 shall be stated as follows:
"Article 34. Functions of the Bank of Russia to control and supervise the activities of commodity exchanges, exchange intermediaries and stock brokers
Bank of Russia:
monitors compliance with the legislation of the Russian Federation on exchanges;
considers complaints of exchange trading participants about abuses and violations of the legislation of the Russian Federation in exchange trading. ";
6) in Article 35:
a) in the title, the words "of the federal executive body in the field of financial markets" shall be replaced by the words "Bank of Russia";
"The Bank of Russia has the right to:";
c) the second paragraph shall be declared invalid;
d) in paragraph six, the words "of the federal executive body in the field of financial markets" shall be replaced by the words "Bank of Russia";
7) in Article 36:
a) in clause 1, the words "Federal executive body in the field of financial markets" shall be replaced by the words "Bank of Russia";
b) in clause 2 the words "the federal executive body in the field of financial markets" shall be replaced by the words "Bank of Russia";
c) in paragraph 4:
in the first paragraph, the words "by the federal executive body in the field of financial markets" shall be replaced by the words "by the Bank of Russia";
in the second paragraph, the words "to the Federal executive body in the field of financial markets" shall be replaced by the words "to the Bank of Russia";
8) in Article 37:
a) in paragraph 2:
in paragraph six the words "the federal executive body in the field of financial markets" shall be replaced by the words "Bank of Russia";
in paragraph seven, the words "of the federal executive body in the field of financial markets" shall be replaced by the words "Bank of Russia";
b) in clause 3, the words "by the Government of the Russian Federation on the proposal of the federal executive body in the field of financial markets" shall be replaced by the words "by the Bank of Russia";
9) in paragraph 2 of Article 38:
a) the first paragraph after the word "Decisions" shall be supplemented with the words "Bank of Russia,";
b) in the second paragraph, the words "Federal bodies" shall be replaced by the words "Bank of Russia, federal bodies".
Article 2.
Subparagraph 1 of paragraph 2 of Article 27 6 Federal law dated April 22, 1996 N 39-FZ "On the securities market" (Collected Legislation of the Russian Federation, 1996, N 17, Art. 1918; 2002, N 52, Art. 5141; 2005, N 25, Art. 2426; 2006, 1, Art.5; 2007, N 1, Art.45; N 50, Art.6247; 2010, N 41, Art.5193; 2011, N 48, Art.6728; 2012, N 53, Art.7607) to read as follows:
"1) registration of a securities prospectus (a securities issue prospectus, a privatization plan registered as a securities issue prospectus), admission of exchange-traded bonds or Russian depositary receipts to organized trading with the submission of a prospectus of the said securities to the exchange or admission of equity securities to organized trading without their inclusion in quotation lists; ".
Article 3.
Introduce into the Code of the Russian Federation on Administrative Offenses (Collected Legislation of the Russian Federation, 2002, N 1, Art. 1; N 30, Art. 3029; N 44, Art. 4295; 2003, N 27, Art. 2700, 2708, 2717; N 46, Art. 4434; N 50, Art. 4847, 4855; 2004, N 31, Art. 3229; N 34, Art. 3529, 3533; 2005, N 1, Art. 9, 13, 40, 45; N 10, Art. 763; N 13, Art. 1075, 1077; N 19, Art. 1752; N 27, Art. 2719, 2721; N 30, Art. 3104, 3131; N 50, Art. 5247; 2006, N 1, art. 4, 10; N 2, art. 172, 175; N 6, Art. 636; N 10, Art. 1067; N 12, Art. 1234; N 17, Art. 1776; N 18, Art. 1907; N 19, Art. 2066; N 23, Art. 2380; N 31, Art. 3420, 3438, 3452; N 45, Art. 4641; N 50, Art. 5279; N 52, Art. 5498; 2007, N 1, Art.21, 25, 29; N 7, Art. 840; N 16, Art. 1825; N 26, Art. 3089; N 30, Art. 3755; N 31, Art. 4007, 4008, 4015; N 41, Art. 4845; N 43, Art. 5084; N 46, Art. 5553; 2008, N 18, Art. 1941; N 20, Art. 2251; N 30, Art. 3582, 3604; N 49, Art. 5745; N 52, Art. 6235, 6236; 2009, N 1, Art. 17; N 7, Art. 777; N 23, Art. 2759, 2767; N 26, Art. 3120, 3122, 31 31; 29, Art. 3597, 3642; N 30, Art. 3739; 48, Art. 5711,5724; No. 52, Art. 6412; 2010, N 1, Art. 1; 18, Art. 2145; 19, Art. 2291; No. 21, Art. 2525; 23, Art. 2790; No. 27, Art. 3416; 28, Art. 3553; N 30, Art. 4002, 4006, 4007; 31, Art. 4158, 4164, 4193, 4195, 4206, 4207, 4208; N 41, Art. 5192, 5193; 49, Art. 6409; 2011, N 1, Art. 10, 23, 54; N 7, Art. 901, 905; 15, Art. 2039; N 17, Art. 2310; 19, Art. 2714, 2715; 23, Art. 3260; No. 27, Art. 3873, 3881; 29, Art. 4290, 4298; N 30, Art. 4573, 4585, 4590, 4598, 4600, 4601, 4605; 46, Art. 6406; 48, Art. 6728, 6730; 49, Art. 7025, 7061; N 50, Art. 7342, 7345, 7346, 7351, 7352, 7355, 7362, 7366; 2012, N 6, Art. 621; N 10, art. 1166; 19, Art. 2278, 2281; No. 24, Art. 3068, 3069, 3082; 29, Art. 3996; 31, Art. 4320, 4330; 47, Art. 6402, 6403; 49, Art. 6757; 53, Art. 7577, 7602, 7640, 7641; 2013, N 14, Art. 1651, 1657, 1666; 19, Art. 2323, 2325; Russian newspaper, 2013, July 2) the following changes:
1) Part 1 of Article 4.5, after the words "on the securities market," shall be supplemented with the words "insurance legislation, legislation";
2) Article 13.25 shall be supplemented with part 3 of the following content:
"3. Failure by the insurer to fulfill the obligation to store documents, the list of which and the requirements for ensuring the safety of which are provided for by insurance legislation, -
entails overlapping administrative fine on officials in the amount of twenty thousand to thirty thousand rubles; for legal entities - from one hundred thousand to two hundred thousand rubles. ";
3) in Article 14.24:
a) in paragraph one of part 4, the words "by the federal executive body in the field of financial markets" shall be replaced by the words "by the Bank of Russia";
b) in the first paragraph of part 6, the word "information, -" shall be replaced by the words "information, as well as failure to provide such information -";
4) the first paragraph of Article 15.18 shall be stated in the following edition:
"Committing professional participant the securities market of transactions related to the transfer of rights to equity securities, prior to the registration of a report on the results of their issue (additional issue), if the registration of such a report is provided for by law and if these actions do not contain a criminal offense, - ";
5) in paragraph one of part 4 of Article 15.19, the words "normative legal acts the federal executive body in the field of financial markets "replace with the words" regulations Bank of Russia ";
6) in Article 15.29:
a) in the first paragraph of part 8, the words "the federal executive body in the field of financial markets" shall be replaced by the words "Bank of Russia";
b) in the first paragraph of part 9, the words "the federal executive body in the field of financial markets" in the appropriate case shall be replaced by the words "Bank of Russia" in the corresponding case;
7) in the first paragraph of Part 3 of Article 15.35, the words "of the federal executive body in the field of financial markets" shall be replaced by the words "Bank of Russia";
8) in paragraph one of part 9 of Article 19.5, the words "of the federal executive body in the field of financial markets or its territorial body" shall be replaced by the words "Bank of Russia";
9) in article 19.7 3:
a) in the title, the words "federal executive body in the field of financial markets" shall be replaced by the words "Bank of Russia";
b) the first paragraph shall be stated in the following edition:
"Failure to submit or violation of the procedure or deadlines for submission to the Bank of Russia of reports, notifications and other information stipulated by law and (or) necessary for this body (official) to carry out its legal activities, or the submission of information is incomplete and (or) inaccurate information , with the exception of cases when, in accordance with insurance legislation, the Bank of Russia gives an order to eliminate the violation of insurance legislation, if these actions (inaction) do not contain a criminal offense, - ";
10) Part 1 of Article 23.1, after the numbers "14.49", add the words "Part 2 of Article 14.51, Articles";
11) Articles 23.47, 23.65, 23.72, 23.73 shall be declared invalidated;
12) Article 23.74 shall be stated as follows:
"Article 23.74. Bank of Russia
1. The Bank of Russia considers cases of administrative offenses provided for in Articles 5.53 - 5.55, Parts 1 and 3 of Article 13.25, Part 1 of Article 14.4 1, Articles 14.24, 14.29, 14.30, 15.17 - 15.22, Parts 1 - 10 of Article 15.23 1, Articles 15.24 1, 15.26 1, parts 1 - 3 of article 15.27 (within the limits of their powers), articles 15.28 - 15.31, 15.35, part 9 of article 19.5, article 19.7 3 of this Code.
2. The following are entitled to consider cases of administrative offenses on behalf of the Bank of Russia:
1) Chairman The central bank Of the Russian Federation, his deputies, the head of the territorial office of the Central Bank of the Russian Federation, his deputies - on the administrative offenses provided for by part 1 of this article;
2) leaders structural units Of the Central Bank of the Russian Federation, their deputies, whose competence includes issues in the field of supervision and control in the field of financial markets (with the exception of banking), - on the administrative offenses provided for in Articles 5.53 - 5.55, Parts 1 and 3 of Article 13.25, Part 1 of Article 14.4 1, Articles 14.24, 14.29, 14.30, 15.17 - 15.22, Parts 1 - 10 of Article 15.23 1, Articles 15.24 1, 15.26 1, parts 1 - 3 of article 15.27 (with the exception of administrative offenses committed by credit institutions, officials credit institutions, employees of credit institutions specified in note 2 to article 15.27), articles 15.28 - 15.31, 15.35, part 9 of article 19.5, article 19.7 3 of this Code;
3) heads of territorial divisions of the Central Bank of the Russian Federation, whose competence includes issues in the field of supervision and control in the field of financial markets (except for banking activities) - on administrative offenses provided for in Articles 5.53 - 5.55, Parts 1 and 3 of Article 13.25, Part 1 of Article 14.4 1, Articles 14.24, 14.29, 14.30, 15.17 - 15.22, Parts 1-10 of Article 15.23 1, Articles 15.24 1, 15.26 1, Parts 1 - 3 of Article 15.27 (with the exception of administrative offenses committed by credit institutions, officials of credit organizations, employees of credit institutions specified in Note 2 to Article 15.27), Articles 15.28 - 15.31, 15.35, Part 9 of Article 19.5, Article 19.7 3 of this Code. ";
13) Article 23.75 shall be declared invalidated;
14) in part 2 of article 28.3:
a) clause 61 shall be declared invalidated;
b) Clause 81 shall be stated as follows:
"81) officials of the Bank of Russia - on administrative offenses provided for in Parts 1 - 3 of Article 14.1, Article 14.36, Part 11 of Article 15.23 1, Article 15.26, Article 15.36 (with the exception of administrative offenses committed by a credit institution), Part 1 of Article 19.4, Part 1 of Article 19.5, Articles 19.6, 19.7, 19.20 of this Code; ";
c) clause 91 shall be declared invalidated;
d) in clause 97 the words "part 3" shall be replaced by the words "parts 2 and 3";
15) part 1 of article 28.7 after the words "about the securities market and about investment funds, "supplemented with the words" insurance legislation, ".
Article 4.
To amend the Federal Law of December 30, 2012 N 294-FZ "On Amendments to Certain Legislative Acts of the Russian Federation" (Collected Legislation of the Russian Federation, 2012, N 53, Art. 7619) the following changes:
1) Clause 4 of Article 4 shall be stated in the following wording:
"4) add article 15 2 as follows:
"Article 15 2. Insurance civil liability developer
1. Fulfillment of the developer's obligations to transfer the living quarters to the participant shared construction under the contract may be provided with civil liability insurance of the developer for non-fulfillment or improper fulfillment by him of obligations to transfer residential premises under the contract by:
1) participation of a developer in a mutual insurance company for civil liability of developers (hereinafter referred to as a mutual insurance company), which has an appropriate license to carry out mutual insurance and was created exclusively for the implementation of this type of insurance;
2) concluding a contract of insurance of civil liability of a developer for non-fulfillment or improper fulfillment of obligations for the transfer of residential premises under an agreement (hereinafter referred to as an insurance contract) with an insurance company licensed to carry out this type of insurance in accordance with the legislation of the Russian Federation on insurance and meeting the following requirements:
a) carrying out insurance activities for at least five years;
b) own funds in the amount of at least 400 million rubles, including authorized capital in the amount of at least 120 million rubles;
c) compliance with the requirements of financial stability provided for by the legislation of the Russian Federation on insurance, for all reporting dates within the past six months;
d) the absence of grounds for applying measures to prevent the bankruptcy of an insurance organization in accordance with Federal Law No. 127-FZ of October 26, 2002 "On Insolvency (Bankruptcy)";
e) the absence of a decision by the Central Bank of the Russian Federation (Bank of Russia) on the appointment of a temporary administration of an insurance organization;
f) no decision arbitration court on the introduction in respect of an insurance company of one of the procedures applied in a bankruptcy case in accordance with Federal Law No. 127-FZ of October 26, 2002 "On Insolvency (Bankruptcy)".
2. The developer, in the manner and on the conditions established by this Federal Law, until state registration of the contract concluded with the first participant in shared construction, at its own expense, carries out civil liability insurance for non-fulfillment or improper fulfillment by him of obligations to transfer residential premises under the contract.
3. If the developer has chosen insurance as a way to ensure the fulfillment of his obligations to transfer residential premises under the contract, he is obliged to inform the participants of the shared construction of the insurance conditions, as well as information about the mutual insurance company or the insurance organization (hereinafter - the insurer) which carry out the developer's civil liability insurance.
4. The conditions of insurance are determined by the insurance rules adopted or approved by the insurer, taking into account the requirements established by this article.
5. Civil liability insurance of the developer for non-fulfillment or improper fulfillment by him of obligations to transfer residential premises under the contract shall be carried out in favor of the beneficiaries - participants in shared construction specified in part 6 of this article.
6. Beneficiaries under an insurance contract are citizens or legal entities (with the exception of credit organizations) whose funds were raised in accordance with this Federal Law for the construction (creation) of a shared construction object under an agreement providing for the transfer of residential premises. It is allowed to replace the beneficiary specified in the insurance contract by another person in the event of the assignment of the right of claim under the contract with a written notification to the insurer.
7. The object of insurance is the property interests of the developer associated with his liability to the participants in shared construction in connection with non-fulfillment or improper fulfillment of his obligations to transfer residential premises under the contract.
8. An insured event is a non-fulfillment or improper fulfillment by the developer of the obligations to transfer residential premises under the contract, confirmed by:
1) a court decision on foreclosure on the subject of pledge in accordance with Article 14 of this Federal Law;
2) by the decision of the arbitration court on declaring the debtor bankrupt and on opening bankruptcy proceedings in accordance with Federal Law of October 26, 2002 N 127-FZ "On insolvency (bankruptcy)", as well as an extract from the register of creditors' claims on the amount, composition and order of satisfaction of claims.
9. The insurance contract is considered concluded from the date of state registration of the contract for participation in shared construction and is valid until the time provided for by such an agreement for the transfer of residential premises by the developer to the participant in shared construction. In this case, the beneficiary retains the right to receive insurance compensation for an insured event that has occurred within two years after the expiration of the term for transferring the dwelling to him as provided for in the contract for participation in shared construction.
10. Minimum sum insured under an insurance contract, within which, upon occurrence insured event the insurer will have to carry out insurance compensation, is calculated based on the price of the contract and cannot be less than the amount calculated based on total area residential premises to be transferred to a participant in shared construction, and the average market value one square meter the total area of housing in the constituent entities of the Russian Federation, which is determined by the federal executive body responsible for the development and (or) implementation of state policy and legal regulation in the construction sector, and is subject to application to calculate the amount of social payments for all categories of citizens to whom the specified social payments provided for purchase, construction living quarters at the expense of federal budget, on the date of the insurance contract.
11. The insurance contract may provide for the right of the policyholder to pay insurance premium by installments in the manner prescribed by the insurance rules. The obligation to pay the insurance premium (part of the insurance premium) is considered fulfilled by the insured from the date of receipt of funds to the bank account or to the cash office of the insurer.
12. The insurance contract may not establish a deductible (part of the losses caused to a participant in shared construction that are not subject to compensation under the insurance contract).
13. The insurance contract must establish the obligation of the insurer to send the bankruptcy commissioner information on the amount of insurance compensation made to the participants in the shared construction.
14. The insurer has the right to claim against the developer in the amount of the paid insurance compensation in the event that the developer is held liable in a bankruptcy case in accordance with Article 10 of Federal Law No. 127-FZ of October 26, 2002 "On Insolvency (Bankruptcy)".
15. Termination or early termination of the insurance contract does not release the insurer from the obligation to pay insurance indemnity for insured events that occurred during the term of the insurance contract. In the event of termination or early termination of the insurance contract, the insurer is obliged to notify the participants in shared construction about this within seven working days.
16. The specifics of the establishment and the procedure for the operation of a mutual insurance company, provided for by this article, are established by the Federal Law of November 29, 2007 N 286-FZ "On Mutual Insurance". ";";
2) part 3 of article 7 after the words "articles 4, 12 1, 15 1, 15 2 and" add the words "paragraph 3 of part 7 of article".
Article 5.
1. To recognize as invalid from the date of the official publication of this Federal Law:
1) subparagraph "a" of Article 1 of the Law of the Russian Federation of April 30, 1993 N 4919-I "On Amendments to the Law of the Russian Federation" On Commodity Exchanges and Exchange Trade "(Bulletin of the Congress of People's Deputies of the Russian Federation and the Supreme Soviet of the Russian Federation, 1993 , N 22, art. 790);
2) paragraphs eighteen - twenty-two of the fourth part of Article 24 10 of the Federal Law of July 29, 1998 N 135-FZ "On appraisal activities in the Russian Federation" (Collected Legislation of the Russian Federation, 1998, N 31, Art. 3813; 2006, N 31 , art. 3456; 2011, N 1, art. 43);
3) subparagraphs "b" - "d" of paragraph 5 of Article 1 of the Federal Law of April 15, 2006 N 47-FZ "On Amendments to the Law of the Russian Federation" On Commodity Exchanges and Exchange Trade "and the Code of the Russian Federation on Administrative Offenses" ( Collected Legislation of the Russian Federation, 2006, N 17, Art. 1776);
4) paragraphs five - nine of clause 18 of Article 1 of the Federal Law of December 28, 2010 N 431-FZ "On Amendments to the Federal Law" On Valuation Activity in the Russian Federation "and Article 5 of the Federal Law" On Amendments to the Federal Law "On appraisal activity in the Russian Federation "and certain legislative acts of the Russian Federation" (Collected Legislation of the Russian Federation, 2011, N 1, Art. 43).
1) subparagraph "b" of paragraph 3 of Article 4 of the Federal Law of December 30, 2004 N 219-FZ "On Amendments to Certain Legislative Acts of the Russian Federation in Connection with the Adoption of the Federal Law" On credit histories"(Collected Legislation of the Russian Federation, 2005, N 1, Art. 45);
2) paragraphs three - seven of clause 2 of the Federal Law of March 21, 2005 N 17-FZ "On Amendments to Article 4 of the Federal Law" On Amendments to Certain Legislative Acts of the Russian Federation in Connection with the Adoption of the Federal Law "On Credit Histories" ( Collected Legislation of the Russian Federation, 2005, N 13, Art.1075);
3) paragraph 2 and subparagraph "a" of paragraph 3 of Article 2 of the Federal Law of April 15, 2006 N 47-FZ "On Amendments to the Law of the Russian Federation" On Commodity Exchanges and Exchange Trade "and the Code of the Russian Federation on Administrative Offenses" (Collection the legislation of the Russian Federation, 2006, N 17, art. 1776);
4) clause 16 and subparagraph "b" of clause 17 of Article 1 of the Federal Law of February 9, 2009 N 9-FZ "On Amending the Code of the Russian Federation on Administrative Offenses in terms of strengthening administrative responsibility for violation of the legislation of the Russian Federation on joint stock companies, on limited liability companies, on the securities market and on investment funds and the Federal Law "On the Securities Market" in terms of clarifying the definition and specification of signs of price manipulation in the securities market "(Collected Legislation of the Russian Federation, 2009, No. 7, Art. . 777);
5) subparagraph "a" of paragraph 4 of Article 9 of the Federal Law of July 19, 2009 N 205-FZ "On Amendments to Certain Legislative Acts of the Russian Federation" (Collected Legislation of the Russian Federation, 2009, N 29, Art. 3642);
6) paragraph 79, paragraphs fifty-sixth and fifty-seventh of subparagraph "a" of paragraph 80 of Article 1 of the Federal Law of December 28, 2009 N 380-FZ "On Amendments to the Code of the Russian Federation on Administrative Offenses" (Collected Legislation of the Russian Federation, 2010, No. 1, Art. 1);
7) Clause 2 of Article 3 of the Federal Law of July 5, 2010 N 153-FZ "On Amendments to Certain Legislative Acts of the Russian Federation in Connection with the Adoption of the Federal Law" On Microfinance Activities and Microfinance Organizations "(Collected Legislation of the Russian Federation, 2010, N 28, art. 3553);
8) clause 4, paragraphs two - eleventh clause 7 of article 2 of the Federal Law of July 23, 2010 N 176-FZ "On Amendments to the Federal Law" On Counteracting the Legalization (Laundering) of Criminally Obtained Incomes and the Financing of Terrorism "and the Code Of the Russian Federation on Administrative Offenses "(Collected Legislation of the Russian Federation, 2010, N 30, Art. 4007);
9) Clause 8 of Article 24 of the Federal Law of July 27, 2010 N 224-FZ "On Countering the Unlawful Use of Insider Information and Market Manipulation and on Amending Certain Legislative Acts of the Russian Federation" (Collected Legislation of the Russian Federation, 2010, N 31, Art. . 4193);
10) Clause 7 of Article 28 of the Federal Law of July 1, 2011 N 170-FZ "On technical inspection Vehicle and on amendments to certain legislative acts of the Russian Federation "(Collected Legislation of the Russian Federation, 2011, N 27, Art. 3881);
11) clauses 4, 7, 8 and 10 of Article 2 of the Federal Law of November 8, 2011 N 308-FZ "On Amendments to the Federal Law" On Counteracting the Legalization (Laundering) of Criminally Obtained Incomes and Financing of Terrorism "and in the Code Of the Russian Federation on Administrative Offenses "(Collected Legislation of the Russian Federation, 2011, N 46, Art. 6406);
12) Clause 2 of Article 3 of the Federal Law of May 3, 2012 N 47-FZ "On Amendments to the Federal Law" On the Fundamentals tourist activities in the Russian Federation "and certain legislative acts of the Russian Federation" (Collected Legislation of the Russian Federation, 2012, N 19, Art. 2281).
Article 6
1) The Bank of Russia acts as an interested party in cases of bringing to administrative responsibility initiated by officials of the federal executive body in the field of financial markets and its territorial bodies, when challenging the actions of officials of the federal executive body in the field of financial markets and its territorial bodies related to bringing to administrative responsibility, when challenging decisions and decisions of the federal executive body in the field of financial markets and its territorial bodies on bringing the guilty persons to administrative responsibility ;
2) The Bank of Russia is considering cases of administrative offenses that were initiated before September 1, 2013 by authorized officials of the Federal Service for financial markets or its territorial bodies and, based on the results of the consideration of which, no decisions have been made from the date of the end of the consideration of these cases Federal Service on financial markets.
2. Decisions on cases of administrative offenses made by officials of the Federal Service for Financial Markets or its territorial bodies after September 1, 2013 may be appealed to the Bank of Russia in accordance with clause 3 of part 1 of article 30.1 of the Code of Administrative Offenses of the Russian Federation.
3. Judges (justices of the peace) consider cases of administrative offenses within the competence established by the Code of Administrative Offenses of the Russian Federation, for which, as of September 1, 2013, authorized officials of the Federal Service for Financial Markets or its territorial bodies drew up protocols, rulings on initiation cases of administrative offenses, if the consideration of such cases on the specified date is not completed.
4.From September 1, 2013, the Bank of Russia initiates administrative offense cases for failure to pay, within the time limit established by the Code of the Russian Federation on Administrative Offenses, an administrative fine imposed in cases of administrative offenses initiated by the Federal Service for Financial Markets or its territorial bodies.
Article 7.
1. This Federal Law shall enter into force on the day of its official publication, with the exception of provisions for which this article establishes a different date for their entry into force.
2. Article 3, part 2 of Article 5, Article 6 of this Federal Law shall enter into force on September 1, 2013.
President of Russian Federation
General Provisions exchange activities
Remark 1
Relations that are associated with the activities of commodity exchanges and the implementation of exchange trading are governed by the Law "On Commodity Exchange and Exchange Trading", as well as regulatory documents exchange trading.
A commodity exchange is a legal entity that organizes public trades.
An exchange transaction is a registered exchange agreement that is signed between the parties to the relationship. Registration and execution of transactions is regulated by the exchange. Transactions that were carried out on the exchange, but do not meet the established requirements, are not considered exchange transactions. Exchange transactions cannot be made at the expense of the exchange and on its behalf.
Participants can make transactions:
- transfer of ownership of goods;
- transfer of ownership of the goods with a deferred delivery;
- carry out futures transactions;
- other operations that do not contradict the rules of exchange trading.
Organization and procedure for suspension of exchange trading
To organize exchange activities, you must obtain a license. The license is issued by the Commodity Exchange Commission. To obtain a license, you must submit the following documents:
- application of the established form;
- the charter of a commodity exchange;
- memorandum of association;
- certificate of state registration;
- rules for conducting exchange trading;
- list of founders, and information about their share.
Exchange trading rules
The following conditions must be spelled out in the rules:
- conditions for conducting exchange trading;
- main types of exchange transactions;
- the structural composition of the exchange;
- conditions for informing exchange participants about the start of exchange trading;
- conditions for registration and accounting of exchange transactions;
- the procedure for setting prices;
- informing members of the exchange about the conjuncture of exchange trading;
- control over the price formation process;
- the range of violations for which the exchange collects fines;
- the size of deductions and fees.
Organization of exchange trading
Participants in exchange trading can be both exchange members and one-time visitors. Non-resident citizens can take part in exchange trading only through their exchange intermediaries.
Exchange transactions are carried out in the course of exchange trading through exchange brokers.
To carry out futures and options transactions, the broker must obtain a license. The broker must keep records of exchange transactions for 5 years from the date of the transaction, as well as provide the necessary information that will be of interest to the Commodity Exchanges Commission.
State regulation of the commodity exchange
Remark 2
State regulation of the exchange activities is carried out by the Commission on exchange activities. In its activities, the Commission is guided by the regulatory documents of the Russian Federation, decrees and orders of the Government of the Russian Federation.
Functions of the commission:
- issues a license to conduct exchange trading;
- controls the issuance of a license to carry out futures and options transactions;
- monitors the execution of exchange trading;
- conducts work to study the activities of commodity exchanges;
- is engaged in the development of methodological support for the preparation and conduct of exchange trading;
- develops proposals for improving the conduct of exchange trading.
Interference of bodies is prohibited in the activities of the exchange local government and other leaders of power.
Local self-government bodies and governing bodies, whose actions resulted in non-execution of exchange transactions and caused damage to the parties to the transaction, are liable in full and compensate for the damage caused. The amount of damage that was caused is reimbursed from own income.
Law of the Russian Federation of February 20, 1992 N 2383-I
"On commodity exchanges and stock trading"
(as amended on June 24, 1992 and April 30, 1993,
June 19, 1995, March 21, 2002)
Section II. The establishment, organization and procedure for the termination of the activities of a commodity exchange (Art. 11-18) Section III. Organization of exchange trading and its participants (Art. 19-32)
Section IV. State regulation of the activities of commodity exchanges (Art. 33-38)
This Law is aimed at regulating relations on the establishment and operation of commodity exchanges, exchange trading and providing legal guarantees for activities on commodity exchanges.
Section I. General Provisions
Article 1. Legislation on commodity exchanges and exchange trading
Relations associated with the activities of commodity exchanges (their branches and other separate divisions) and exchange trading are governed by this Law and other acts of legislation of the Russian Federation, as well as the constituent documents of exchanges, exchange trading rules and other internal documents of exchanges adopted in accordance with the legislation.
Relations associated with the activities of labor exchanges, stock and currency exchanges, as well as stock and currency sections (departments, divisions) of commodity, commodity-stock and universal exchanges are not regulated by this Law.
Article 2. The concept of a commodity exchange
1. For the purposes of this Law, a commodity exchange means an organization with the rights legal entity forming wholesale market by organizing and regulating exchange trading carried out in the form of open public trading conducted in a predetermined place and at a specific time according to the rules established by it.
2. A commodity exchange may have branches and other separate divisions established in accordance with the legislation.
The commodity exchange is hereinafter referred to as the "exchange".
Article 3. Scope of activity of the commodity exchange
1. The Exchange has the right to carry out activities directly related to the organization and regulation of exchange trading, with the exception of the activities provided for by paragraphs 2 and 3 of this article.
2. The Exchange may not carry out trading, trading and intermediary and other activities not directly related to the organization of exchange trading. This limitation does not apply to a legal entity and an individual that is a member of the exchange.
3. The Exchange is not entitled to make deposits, acquire shares (shares), shares of enterprises, institutions and organizations, if the said enterprises, institutions and organizations do not aim to carry out the activities provided for in paragraph 1 of this article.
Article 4. Exchange unions, associations and other associations
1. Exchanges can create unions, associations and other associations to coordinate their activities, protect the interests of their members and implement joint programs, including for organizing joint trading.
2. It is prohibited to create exchange unions, associations and other associations if their formation contradicts the requirements of the antimonopoly legislation of the Russian Federation and this Law, as well as the agreements and actions of exchanges aimed at or entailing the elimination or restriction of competition in exchange trading are invalid.
Article 5. Restricting the use of the words "exchange" and "commodity exchange" in the names of enterprises, institutions and organizations
Enterprises, institutions and organizations that do not meet the requirements established by Articles 2 and 3 of this Law, as well as their branches and other separate divisions, do not have the right to organize exchange trading, use the words "exchange" or "commodity exchange" in their names.
Article 6. Exchange commodity
1. For the purposes of this Law, an exchange commodity is understood to mean a commodity of a certain type and quality, which has not been withdrawn from circulation, including a standard contract and a bill of lading for the said commodity, admitted in the established manner by the exchange to exchange trading.
2. Exchange commodities cannot be real estate and objects of intellectual property.
Article 7. Exchange transaction
1. An exchange transaction is a contract (agreement) registered by the exchange, concluded by participants in exchange trading in relation to an exchange commodity in the course of exchange trading. The order of registration and execution of exchange transactions is established by the exchange.
2. Transactions made on the exchange, but not meeting the requirements provided for in paragraph 1 of this article, are not exchange transactions. Exchange guarantees do not apply to such transactions.
The exchange has the right to impose sanctions on exchange trading participants who make off-exchange transactions on this exchange.
3. Exchange transactions cannot be made on behalf of and at the expense of the exchange.
Article 8. Types of exchange transactions
For the purposes of this Law, participants in exchange trading during exchange trading may conduct transactions related to:
mutual transfer of rights and obligations in relation to real goods;
mutual transfer of rights and obligations in relation to real goods with a deferred delivery date (forward transactions);
mutual transfer of rights and obligations in relation to standard contracts for the supply of exchange commodities (futures transactions);
assignment of rights to a future transfer of rights and obligations in relation to an exchange commodity or a contract for the supply of an exchange commodity (option transactions);
as well as other transactions in relation to exchange commodities, contracts or rights established in the rules of exchange trading.
Article 9. Stock brokerage on commodity exchanges
1. Exchange trading is carried out by:
execution of exchange transactions by an exchange intermediary on behalf of the client and at his expense, on behalf of the client and at his own expense or on his own behalf and at the expense of the client (brokerage activities);
execution of exchange transactions by an exchange intermediary on his own behalf and at his own expense for the purpose of subsequent resale on the exchange (dealer activity).
2. Exchange intermediation in exchange trading is carried out exclusively by exchange intermediaries.
Article 10. Exchange intermediaries
1. For the purposes of this Law, stock brokers mean brokerage firms, brokerage houses and independent brokers.
2. A brokerage firm is an enterprise created in accordance with the Law of the Russian Federation "On Enterprises and Entrepreneurial Activity".
3. For the purposes of this Law, a broker's office is a branch or other separate subdivision enterprises, institutions, organizations that have a separate balance sheet and current account.
4. An independent broker is an individual registered in accordance with the established procedure as an entrepreneur carrying out his activities without forming a legal entity.
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