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1 In case the licensed kind of activity is carried out by branches and representations of fund (company), along with the license its certified copies with the indication of location of each branch and representation are issued. Copies of the license are registered Inspection.

The investor of fund - the legal or capable natural person, voluntary or owing to acquired on other bases to circumstances the carrying-out introduction of target (pension) monetary contributions to advantage of participants of fund.

Funds and the Companies bear responsibility for implementation of Rules and observance of economic standards of reliability and solvency of non-state pension funds and the companies on management of assets of the non-state pension funds (further - Standards) approved by Inspection.

Due to the difficult economic situation creation of additional professional pension systems for employees of all organizations at the present stage is not possible. Therefore their formation will be gradually carried out, in process of readiness of the separate organizations and their groups, branches of economy or territories to create at itself such systems, and also possibilities of the state to provide the corresponding privileges.

Under activity of a non-state pension fund (further is called - the background is understood noncommercial activities for formation of assets by attraction of voluntary target monetary contributions of legal entities and individuals, transfer of these company funds on management of assets of non-state pension funds (further is called - the company), implementation for life or during the long period of regular payments to citizens in a monetary form, and also other actions for implementation of obligations to citizens.

The numerous facts when non-state pension funds independently placed the assets take place, took as a result of it the income, and also were engaged in different types of commercial activity.

Forms of licenses have security degree at the level of a security to bearer. They are documents of the strict reporting, have a registration series and number. Acquisition, the account and storage of forms of licenses are carried out by Inspection.

Control of observance of Rules is exercised by Inspection on the basis of quarterly reports of Funds for the forms approved by Inspection which are submitted no later than the last date following reporting quarter.

Activity of fund is understood as noncommercial activities for formation of assets by attraction of voluntary target monetary contributions of legal and/or natural persons, transfer of these company funds on management of assets of non-state pension funds (further - the company), to implementation for life or during the long period of regular payments to citizens in a monetary form, and also other actions for implementation of obligations to citizens.