Article 29

1. In respect of banking services referred to in Annex 6, Part B, the nature of the treatment accorded by Russia pursuant to Article 28 (1), with regard to establishment by means of the setting up of subsidiaries only and pursuant to Article 28 (3), is set out in Annex 7, Part A.

In respect of insurance services referred to in Annex 6, Part A (1) and (2), the nature of the treatment accorded by Russia pursuant to Article 28 (1) is set out in Annex 7, Part B.

2. Notwithstanding any other provisions of this Agreement, a Party shall not be prevented from taking measures for prudential reasons, including for the protection of investors, depositors, policy holders or persons to whom a fiduciary duty is owed by a financial service supplier, or to ensure the integrity and stability of the financial system. Such measures shall not be used as a means of avoiding the Party's obligations under the Agreement.

Nothing in the Agreement shall be construed to require a Party to disclose information relating to the affairs and accounts of individual customers or any confidential or proprietary information in the possession of public entities.

3. Without prejudice to the provisions of Part A (1) (d) and (e) of Annex 7, the Community and the Member States of the one part and Russia of the other part shall not adopt any new regulations or measures which would introduce or worsen discrimination as compared to the situation existing on the date of the signature of the Agreement as regards conditions affecting the establishment of the other Party's companies in their respective territories in comparison to their own companies.

The parties agree that the terms "worsen discrimination" include the aggravation of discriminatory conditions or their extension or reintroduction after the current period of application.

4. For the purposes of this Agreement, as regards banking activities a company shall be regarded as a Russian subsidiary of a Community company when more than fifty percent (50 %) of its share capital is held by the Community company.