LAW OF UKRAINE

of December 10, 1997 No. 710/97-BP

About National depositary system and features of electronic security circulation in Ukraine

This Law determines the legal basis of security circulation in National depositary system and feature of electronic security circulation in Ukraine.

Section I General provisions

Article 1. Determination of terms and concepts

In this Law the stated below terms and concepts are used in the following value:

paperless form of security - the accounting record performed by the keeper which is confirmation of the property right to security;

the isolated method of storage of securities - method according to which the keeper of securities (further - the keeper) shall store and record certificates of securities with indication of their numbers or other individual signs;

issue of securities - the set of securities of one issuer registered in accordance with the established procedure with one state registration number which can have different conditions of issue, but grant the identical rights;

The owner of securities - person having the property right to securities according to the law and/or the agreement of property management;

the global certificate - the document processed to all issue of securities in paperless form, except the privatization papers certifying the owner's right to free obtaining in the course of privatization of share of property of the state companies, the state housing stock, land fund, confirming the right to implementation of transactions with securities of this release in National depositary system;

securities depository (further - depositary) - joint-stock company which performs exclusively depository activity and can perfrom clearing and calculations for transactions on securities;

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