PRESIDENTIAL DECREE OF THE REPUBLIC OF BELARUS

of May 24, 2018 No. 200

About debt restructuring and discharge

For the purpose of financial improvement and increase in efficiency of organization activity:

1. Determine that:

1.1. banks, JSC Development Bank Republic of Belarus (further - banks) have the right within debt restructuring according to credit agreements to acquire in property shares (share in authorized funds) of economic societies without receipt of permission of National Bank.

In case of share acquisition (share in authorized funds) of economic societies banks:

perform the rights and perform the duties established by the legislation concerning members of economic societies including participate in management of activities of economic society and in distribution of its profit;

can alienate (to pledge) the acquired shares (share in authorized funds) according to the procedure, established by legal acts;

1.2. banks have the right to exempt fully or partially the organizations borrowers from property obligation before themselves on debt repayment on credit dogovoram*.

At the same time outstanding amounts according to credit agreements are written off by banks at the expense of special reserves on covering of losses on the assets subject to credit risk.

Outstanding amount on which the special reserve is not created and also the outstanding amounts on unpaid interests, other obligations according to credit agreements reflected in balance sheet accounts on accounting of the added and overdue income, according to the procedure and the terms established by banks belong:

or on the non-operating expenses considered in case of the taxation for date of release from property obligation;

or on deferred expenses with the subsequent reference of these amounts on the non-operating expenses considered in case of the taxation;

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