As of 1 June, the Ministry of Economic Development of Russia is beginning to accept applications for agreements to reimburse some of the costs of ICP bonds. Subsidies are provided under the Maloy and Middle Entrepreneurship Project to offset part of the cost of the bonds held on the stock exchange.

Reason: Decision No. 532 of the Government of the Russian Federation of 30 April 2019 approving regulations on the granting of federal grants to Russian small and medium-sized enterprises to compensate for part of the costs of issuing shares and bonds and paying coupon income to bonds placed on the stock exchange (hereinafter the Rules).

The result of the interest-bearing grant is access to financial resources through bonds, including through the use of support measures (a small and medium-sized bond business, annual).

Selection organizer: Ministry of Economic Development of the Russian Federation. Selection participants: small and medium-sized enterprises that have placed bonds on the stock exchange (hereinafter the issuers).

Application opening - 16.00 “1” June 2024

End - 16.00 “1” July 2024

Disclosure of selection results: “1” September 2024

The adoption of documents is carried out in the State integrated public finance management information system of the " Electric budget " on the public financial support portal.

Contact person: Zaharov Ekaterin Alekseevna, telephone + 7 (495) 870-29-21, ext. 15555, e-mail: ZaharovaEA@economy.gov.ru

Requirements for issuers

To participate in the selection of the issuer at the date of application for the grant agreement, the following requirements shall be met:

• The issuer, as at the end of the stock or bonds, was a small or medium-sized entrepreneurial entity and was not a member of the small and medium-sized enterprises referred to in article 14, paragraphs 3 and 4, of the Federal Act on Small and Medium Enterprise Development in the Russian Federation;
• The issuer has the status of the tax resident of the Russian Federation;
• The issuer is not in the process of reorganization, liquidation, bankruptcy has not been introduced, and the activities of the issuer have not been suspended in accordance with the procedure provided for in the legislation of the Russian Federation;
• The issuer does not have an outstanding obligation to pay taxes, fees, insurance contributions, foams, fines, interest to be paid in accordance with the legislation of the Russian Federation on taxes and charges, outstanding debts to return to the federal budget of subsidies, budgetary investments made, including under other legal acts of the Russian Federation, and other arrears (unregulated) in respect of monetary obligations of the Russian Federation.
• The issuer is not a foreign legal entity, including the place of registration of which is the State or territory included in the list of States and territories approved by the Ministry of Finance of the Russian Federation for intermediate (offshore) ownership of assets in the Russian Federation (the offshore company), as well as by a Russian legal entity, whose capital share is direct or indirect (through third persons) of the participation of offshore companies in aggregate;
• The issuer does not receive funds from the federal budget on the basis of other legal instruments for the purposes of paragraph 2 of the Regulations;
• The issuer is not a microfinance organization, a leasing company;
• The issuer is not part of the group (as defined by the International Financial Reporting Standards), whose annual earnings or, where applicable, the income of more than 2 billion roubles (except for groups that are exclusively small and medium-sized enterprises) according to consolidated financial reporting;
• The roster of disqualified persons lacks information on disqualified managers, members of a collegiate executive body, a person acting as a single executive body or the chief accountant.

The following conditions must be met in order to receive the interest (purchasing) subsidy on the date of application for interest (purchase) payment:

1. Employee bonds have been completed;
2. The obligation to pay the next interest (purchasing) income to bond owners is fully implemented by the issuer within a period not exceeding 10 working days from the date of the next interest (purchasing) income;
3. No restrictive measures have been taken with respect to this issue of bonds to reduce the risk of financial loss to investors.

List of necessary documents

The following documents shall be submitted by means of a single portal to the Ministry of Economic Development of Russia to receive a subsidy on the interest (purchased) payment of the Emitter:

• An application for a form grant agreement pursuant to Annex No. 4 of the Regulation, signed by a reinforced qualified electronic signature of the head of the issuer or the authorized person of the issuer acting on the basis of confidence;
• Information on the State registration of the issuer as a legal person (list from the EGRUL);
• A certificate signed by the head and chief accountant or the authorized issuer, attached with a stamp (if any) of the issuer, indicating bank requisitions and accounts to which the grant should be listed;
• Confirmation of the issuer ' s compliance with the requirements of sub-paragraphs " E " and " and " of paragraph 14 of the Regulation, which are automatically checked on a single portal, subject to a technical capability;
• A certificate signed by the head and the Chief Accountant or the authorized issuer, sealed (if any) by the issuer, confirming that, at the date of application for the grant, the issuer meets the requirements of subparagraphs (a), (b), (f) and (c) of paragraph 14, subparagraph (e) of the Regulation;
• A certificate of exchange prepared in accordance with Annex No. 5 of the Regulation, signed by the Exchange Manager or the designated official of the Exchange acting on the basis of confidence (providing the relevant authority);
• Confidence of the author of the issuer certifying the right of such person to sign an application for a grant agreement and (or) other documents provided for in the Regulations (if the applications and (or) documents are signed by the author of the issuer);
• A request for a interest (purchase) payment grant signed by the head and chief accountant or the authorised persons of the issuer (with the submission of documents confirming the authority of that person) in the form provided for in Annex No. 3 of the Regulation;
• Central Depositary ' s certificate of interest (purchasing) income on the issue of the issuer ' s bonds, prepared in accordance with annex No. 6, signed by the designated official of the central depositary (with the submission of documents confirming the authority of that person).

In doing so, an application for an agreement may be withdrawn or modified by the issuer no later than 5 working day from the date of its submission in accordance with paragraphs 21 and 22 of the Regulation.

An application for withdrawal of an application for an agreement in an arbitrary form or a refined application for a form grant agreement pursuant to Annex No. 4 of the Regulation shall be submitted by the issuers in the same manner as an application for an agreement, subject to the time limits set out in paragraph 5 (2) of the first paragraph. Regulations.

The return of the revoked request for an agreement and its annexed documents shall be carried out by the Ministry of Economic Development of Russia within five working days of the application for withdrawal.

Rules for the consideration of applications for agreements

• The Ministry of Economic Development of Russia registers, on a first-come, application for agreements and the annexed documents referred to in paragraphs 21 and 22 of the Regulations, within 5 working days of their receipt, their completeness and compliance with the requirements of paragraphs 21 and 22 of the Regulations, and sends copies of such applications and (or) of declarations and documents to the SME Corporation for the preparation of opinions. The deadline may be extended by the Ministry of Economic Development of Russia for not more than 10 working days in order to obtain from the issuers, as requested by the Ministry of Economic Development of Russia, unrepresented documents from among the documents referred to in paragraphs 21 and 22 of the Regulations and (or) documents issued in accordance with the requirements of paragraphs 21 and 22 of the Regulations;
• The Ministry of Economic Development of Russia rejects and returns the issuer ' s rejected application for a grant agreement and the accompanying documents within 5 working days of the expiry of the deadline for the receipt of unrepresented documents from the issuer, from among the documents referred to in paragraphs 21 and 22 of the Regulations and (or) the documents issued in accordance with the requirements of paragraphs 21 and 22 of the Regulations;
• The MSU Corporation shall, within 10 working days from the date of receipt of copies of applications for grant agreements and (or) applications for grants and accompanying documents referred to in paragraphs 21 and 22 of the Regulations, prepare the relevant conclusion of the corporation referred to in subparagraph (a) or (b) of paragraph 7 of the Regulations, in a manner approved in accordance with paragraph 8 of the Regulations, and send it to the Ministry of Development of the Russian Federation. The deadline may be extended by the corporation for not more than 10 working days in order to obtain from the Ministry of Economic Development unrepresented documents from among the documents referred to in paragraphs 21 and 22 of the Regulations and (or) the documents issued in accordance with the requirements of paragraphs 21 and 22 of the Regulations.
• The Ministry of Economic Development of Russia shall, within 5 working days of the date of receipt of the relevant conclusion of the AO " Corporation " , as provided for in subparagraphs (a) and (b) of paragraph 7 of the Regulations, transmit it, as well as an application for a grant agreement and (or) a grant application and documents referred to in paragraphs 21 and 22 of the Regulations, to the Commission for consideration;
• If a decision is taken not to grant the grant, which is based on the non-conformity of the documents submitted by the issuer with the requirements of paragraphs 15, 16, 21 and 22 of the Regulations, or the failure to submit (not fully) the said documents, or to ascertain the lack of credibility of the information contained in the documents submitted by the issuer, the Ministry of Economic Development of Russia shall, within 3 working days of the date of the decision, notify the issuer of the refusal.

This notification shall not be given if the commission decides not to enter into a grant agreement. The procedure for providing participants with explanations of the proclamation of the selection of the Emitent may, in writing or electronic form, send an e-mail address to the Ministry of Economic Development of Russia, as indicated in the announcement, a request for clarification of the provisions of the announcement of the selection.

The deadline for the issuers to explain the announcement is from the date of the announcement. The deadline for the issuers to provide explanations of the announcement is no later than 5 working days before the end of the deadline for applications specified in the declaration.

The deadline for the selection winners to sign the grant agreement: The winner of the selection is required to sign a grant agreement no later than 10 working days from the date of receipt of the notification by the Ministry of Economic Development of the Russian Federation to place such an agreement in the State integrated public finance management information system, the Electric budget.

The Ministry of Economic Development of the Russian Federation shall, within 3 working days of the Commission ' s decision on the recommendation under paragraph 7 of the Regulations, decide on an agreement on the granting of a grant and shall notify the recipient of the grant of such decision(s).

Condition of recognition of the winners of the slope of the grant agreement: In the event that the issuer does not sign a grant agreement within 10 working days of receipt of a notice from the Ministry of Economic Development of the Russian Federation to place such an agreement in the State integrated public finance management information system, the electron budget is recognized as evading the agreement.

Date of selection - no later than the 14th calendar day following the selection winner ' s day.

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Entrepreneurs ' support in the region is carried out within the framework of the " Small and Medium Enterprise " project.