THE ORDER OF STATE COMMISSION ON REGULATION OF THE MARKETS OF FINANCIAL SERVICES OF UKRAINE

of June 24, 2004 No. 1225

About approval of Licensed conditions of implementation of activities for attraction of financial resources of ustanovitel of property management for financing of construction objects and/or implementation of real estate transactions

According to requirements of the Laws of Ukraine "About financial services and state regulation of the markets of financial services", "About financial and credit mechanisms and property management in case of construction of housing and real estate transactions" and the Regulations on State commission on regulation of the markets of financial services of Ukraine approved by the Presidential decree of Ukraine of April 4, 2003 No. 292/2003, and also for the purpose of enhancement of state regulation of activities for provision of financial services by finance companies - managers of the funds of financing of construction (FFC) and/or funds of real estate transactions (BACKGROUND) State commission on regulation of the markets of financial services of Ukraine

DECIDED:

1. Approve Licensed conditions of implementation of activities for attraction of financial resources of ustanovitel of property management for financing of construction objects and/or implementation of real estate transactions (are applied).

2. To legal management (Tkachenko D. V.) together with Department of supervision of finance companies (Otchenash K. G.) provide provision of this order in the Ministry of Justice of Ukraine for its state registration.

3. And public relations (Nagornyak M. V.) to provide to department of interaction with mass media publication of this order in mass media after its state registration.

4. Control of execution of this order to assign to the member of the commission - the director of the department of supervision of finance companies Otchenash K. G.

Approved by the Order of State commission on regulation of the markets of financial services of Ukraine of June 24, 2004 No. 1225

Licensed conditions of implementation of activities for attraction of financial resources of ustanovitel of property management for financing of construction objects and/or implementation of real estate transactions

These Licensed conditions are developed according to requirements of the Laws of Ukraine "About financial services and state regulation of the markets of financial services", "About financial and credit mechanisms and property management in case of construction of housing and real estate transactions", Regulations on the National commission performing state regulation in the field of the markets of financial services, No. approved by the Presidential decree of Ukraine of November 23, 2011 1070, of the Regulations on the State register of financial institutions approved by the order of State commission on regulation of the markets of financial services of Ukraine of August 28, 2003 No. 41 (in edition of the order of State commission on regulation of the markets of financial services of Ukraine of January 16, 2007 No. 6640) registered in the Ministry of Justice of Ukraine on February 02, 2007 for No. 92/13359 (with changes) (further - Regulations on the register), Regulations on entering of information of rather finance companies into the State register of financial institutions and establishment of requirements to the accounting and registering system of finance companies, No. approved by the order of State commission on regulation of the markets of financial services of Ukraine of December 05, 2003 152, registered in the Ministry of Justice of Ukraine on December 29, 2003 for No. 1252/8573 (with changes) (further - Regulations on finance companies), Regulations on procedure for introduction of information on financial institutions - legal entities of the public law in the State register of financial institutions approved by the order of State commission on regulation of the markets of financial services of Ukraine of July 07, 2005 No. 4300, registered in the Ministry of Justice of Ukraine on July 26, 2005 for No. 796/11076, and other regulatory legal acts which regulate activities of financial institutions.

Section 1. General provisions

1.1. In these Licensed conditions the stated below concepts are used in such value:

the applicant - the legal entity submitting the application for issue, renewal of the license, issue of the duplicate of the license, cancellation of the license;

absolute liquidity index - the relation of total amount of money (their equivalents) and the short-term financial investments of the manager to its current obligations;

solvency ratio - the relation of total amount of equity of the licensee to the total amount of assets of the licensee and property which is in its management and is considered on separate balance, weighed on risk degree;

the licensee - non-bank financial institution which obtained the license in the procedure established by these Licensed conditions for implementation of activities for attraction of financial resources of ustanovitel of property management for financing of construction objects and/or implementation of real estate transactions and on its own behalf acts in their interests, exercising property management according to the legislation, Rules of fund and the agreement of property management;

the license - the document of the state sample certifying the right of the licensee to perform activities for attraction of financial resources of ustanovitel of property management for financing of construction objects and/or implementation of real estate transactions during certain term on condition of accomplishment of these Licensed conditions;

licensing - issue, renewal, temporary stop and/or cancellation of licenses, renewal of action of the license, issue of duplicates of licenses, conducting licensed cases, control of observance by the licensee of licensed conditions, application of corrective actions in case of violation by the licensee of licensed conditions;

the connected persons are legal entities who exercise control of the manager or are controlled by the manager, or are under general control with the manager;

property management (financial assets) - implementation of legal and actual acts concerning the order property (financial assets) on its own behalf, for the account and for the benefit of fitters of property management;

the fitter of property management (further - the fitter) - person giving means to the manager based on the agreement of property management;

highly liquid assets - means in cash desk of financial institution, on the current and/or deposit accounts (for up to one year) in bank(s) and government securities or securities issued under guarantee of the state;

date of creation of fund of financing of construction (further - FFS) is the last from such dates: approval date of Rules FFS in the procedure established by the charter of the licensee, date of the conclusion of the contract on this FFS with the builder and date of opening by the manager in bank of the account of FFS;

the newly created financial institution - financial institution which has term from the moment of entering of record about carrying out state registration into the Unified State Register of Legal Entities and physical persons - entrepreneurs until filing of application about licensing does not exceed thirty calendar days;

the room - the non-residential part of unobstructed capacity of the building limited to construction elements with possibility of entrance and exit which is used by the licensee when implementing activities for attraction of financial resources of ustanovitel of property management and to implementing property management according to the legislation, Rules of fund and the agreement of property management.

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info