On the appointment of the provisional administration

By the Order No. OD-1308 dated 5 June 2014, the Bank of Russia took the decision to appoint the provisional administration to manage the Non-profit organisation Non-governmental pension fund Promregion (Registration number in the register of licences of non-governmental pension funds is 401/2).

The decision was taken due to the failure of NPF Promregion to fulfill its obligation on transfer of pension savings to the Pension Fund of the Russian Federation upon the expiry of 3 month period after withdrawal of the fund’s licence and due to the failure to present the interim balance sheet to the Bank of Russia as provided by the legislation of the Russian Federation (Clauses 13 and 14 of Article 7.2 of Federal Law No. 75-FZ dated 7 May 1998 ‘On Non-Governmental Pension Funds’ (in the revision effective until 1 January 2014, with consideration of Article 1 of Federal Law No. 410-FZ dated 28 December 2013 ‘On Amending the Federal Law ‘On Non-Governmental Pension Funds’ and Individual Legislative Acts of the Russian Federation’).

In compliance with the legislation the powers of the executive bodies of NPF Promregion are suspended for the period of activity of the provisional administration.

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06.06.2014 00.00.00