Change in rules for bank sample signature cards

Starting from July 1, 2014, the Russian Central Bank’s Instruction No.153-I “On opening and closing bank accounts, deposits and deposit accounts” takes effect, changing the rules for documenting bank sample signature cards.

This instruction changes the rules for providing sample signatures and also adopts a new form of the bank card, at the same time allowing banks to use their own forms, provided they contains the needed information.

The new instruction does not contain such categories as “first” and “second” signatures and cancels the rule of mandatory two signatures, of which one is the organization’s accountant. Therefore, by agreement with the bank a card can be submitted with just the signature of the sole executive body (the general director).

Additional notes

Should any questions arise in connection with the above or if you need any additional materials, please contact Dmitry Yatsenko or Olga Nasonova, Moscow Office of Capital Legal Services.

This Information letter keeps the clients of Capital Legal Services and other interested parties abreast of information that may, to any extent, affect their activity or cater to their particular interests. The opinions and commentaries expressed in this information letter shall not be deemed as legal opinions and do not cancel the need to obtain legal advice or legal opinion on separate issues.