Following issues have been discussed and resolved on the regular session of the FRC on December 07, 2011:

One. On securities:

• Regional Bonds for Sukhbaatar Province have been registered.
• A “Regulation on cumulative approach in voting” has been approved

Two. On Insurance:

• “Munkh Daatgal ” LLC, “ Nomin Daatgal” LLC, “MIG Daatgal” LLC have been each licensed to provideDriver’s Compulsory Insurance Services.
• “Mega Marz” LLC’s licensing to provideloss evaluation services has been restored.
• Mrs. Narangerel Davaajargal has been licenced to provide general insurance actuary.
• A minimum amount for a paid-in-capital for insurance companies has been determined and approved.
• Regulations on “Compulsory Insurance Association” have been approved for amendment, and “Calculation Method of Driver’s Liability Insurance Fee” and “Building reserve fund for general insurance” have been each amended.

Three. On micro-finance:

• “Gazarcapital” LLC, “Uizen-Iveelt” LLC, “ Mustiin Uvur Bulag” LLC, “SSNG” LLC have been each licenced to providenon-banking financial services.
• “CGIP NBFI” LLC’s licencingto provideforeign exchange activities has been revoked , “OBTS NBFI” LLC’s licensing to providesavings and credit cooperative activities has been renewed.
• “Sanhuugin Hugjil NBFI” LLC, “Munkhiin altan od NBFI” LLC, “ Capitalpartners NBFI” LLC, “Zul Oyu NBFI” LLC’s licencing to providenon-bank financial activities have been revoked.
• “Goodpartners” cooperative’s licensing to providecresit, loan services has been extended.
• “ Mongol Terbuumtan”, “Goviin Tsog”, “Ijil Huleg” cooperatives licensing to providecredit, loan activities have been each suspended.

ADMINISTRATION DEPARTMENT