On cancellation of licence to carry out pension provision and pension insurance and appointment of provisional administration

On 6 August 2014, the Bank of Russia took a decision to cancel licence to carry out pension provision and pension insurance No. 352/2, dated 20 October 2009, of the non-profit organisation Non-Governmental Pension Fund Korabel (hereinafter, the Fund) (PSRN: 1027700486967; ITN: 7707286950).

The Bank of Russia took this decision due to the Fund’s failure to execute Bank of Russia instruction No. 015-54/1783, dated 26 March 2014, on the removal of violations of requirements stipulated by Paragraph 6 of Clause 1 of Article 14 of Federal Law 75-FZ, dated 7 May 1998, ‘On Non-Governmental Pension Funds’, which entailed the prohibition of certain operations of the Fund, and the Fund’s repeated violation of Subclause E of Clause 31 of the Rules of placing pension reserves of non-governmental pension funds and control over their placement approved by the decree of the Government of the Russian Federation No. 63, dated 1 February 2007.

On 6 August 2014, the Bank of Russia appointed a provisional administration to the non-profit organisation Non-Governmental Pension Fund Korabel and suspended powers of its executive bodies.

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07.08.2014 00.00.00