LAW OF THE REPUBLIC OF BELARUS

of July 17, 2018 No. 133-Z

About modification and amendments in the Bank code of the Republic of Belarus

Accepted by the House of Representatives on June 14, 2018

Approved by Council of the Republic on June 28, 2018

Article 1. Bring in the Bank code of the Republic of Belarus of October 25, 2000 in edition of the Law of the Republic of Belarus of July 17, 2006 (The national register of legal acts of the Republic of Belarus, 2000, No. 106, 2/219; 2006, No. 113, 2/1243; 2008, No. 172, 2/1466; National legal Internet portal of the Republic of Belarus, 21.07. 2012, 2/1968; 06:06. 2015, 2/2266; 16:07. 2016, 2/2395) following changes and amendments:

1. In part three of Article 1 of the word "use of securities," shall be replaced with words "issue (issue), the address and repayment of securities, implementation of professional and exchange activity on securities, use".

2. State Article 9 in the following edition:

"Article 9. Non-bank credit and financial organization

The non-bank credit and financial organization - the legal entity having the right to perform separate banking activities and types of activity, stipulated in Article the 14th of this Code.

The list of banking activities which can perform the non-bank credit and financial organizations and their admissible combinations are established by National Bank.

During creation, reorganization of the non-bank credit and financial organization, implementation and the termination of its activities the provisions provided for banks are applied if other is not established by this Code and other bank law of the Republic of Belarus.".

3. Add the Code with Article 10-1 of the following content:

"Article 10-1. Official monetary unit of the Republic of Belarus

Official monetary unit of the Republic of Belarus is the Belarusian ruble. One Belarusian ruble is equal to 100 Belarusian kopeks.".

4. "(Belarusian ruble)" to exclude from part one of Article 11 of the word.

5. In Article 14:

from paragraphs of the thirteenth and nineteenth of part one of the word of "payment instructions" to exclude;

in part four:

to state the paragraph of the seventh in the following edition:

"issue (issue) of securities and (or) transactions with securities;";

after the paragraph of the ninth to add part with paragraphs of the following content:

"activities of specialized depositary of the allocated assets;

activities of management company of investment fund, specialized depositary of investment fund;";

the tenth to consider the paragraph the paragraph the twelfth.

6. In part six of Article 19 of the word "republican and local (regional)" to replace with the word of "state".

7. The fourth articles 22 after the word of "organization" to add part with the words "refrigerate means, block banking activities".

8. To state paragraph two of part one of Article 25 in the following edition:

"maintenance of price stability;".

9. State Article 26 in the following edition:

"Article 26. Functions of National Bank

The National Bank performs the following functions:

develops the Main directions of monetary policy of the Republic of Belarus and together with the Government of the Republic of Belarus provides carrying out single monetary policy of the Republic of Belarus according to the procedure, established by this Code and other legal acts of the Republic of Belarus;

performs the transactions necessary for accomplishment of main objectives of activities of National Bank;

is last resort lender for banks, performing their refinancing;

performs currency issue;

performs issue (issue) of securities of National Bank, determines procedure for issue, the address and repayment of securities of National Bank in coordination with the republican state body performing state regulation of the security market;

creates gold stock and fund of gemstones of the State fund of precious metals and gemstones of the Republic of Belarus and exercises operational management of them within the competence;

creates gold and foreign exchange reserves in coordination with the President of the Republic of Belarus and manages them within the competence;

performs currency control and currency exchange control according to the legislation of the Republic of Belarus;

establishes procedure for issue of permissions and submission of the notifications necessary for the purposes of currency control issues the permissions necessary for the purposes of currency control;

governs credit relations;

regulates and will organize currency circulation;

performs functions of the financial agent of the Government of the Republic of Belarus and local executive and administrative organs concerning execution republican and local budgets;

establishes rules and procedure of banking activities;

agrees in the procedure established by it to implementation by banks and non-bank credit and financial organizations of transactions with securities in cases, stipulated by the legislation the Republic of Belarus;

approves in the procedure established by it issue of securities of banks and non-bank credit and financial organizations in cases, stipulated by the legislation the Republic of Belarus;

will organize activities of banks and non-bank credit and financial organizations, "Development Bank of the Republic of Belarus" open joint stock company for issue and the circulation of bills of exchange if other is not determined by the President of the Republic of Belarus;

performs depository activity according to the procedure, determined by the legislation of the Republic of Belarus;

governs the relations in the field of financial instruments of forward transactions, except for financial instruments, trade in which is performed at commodity exchanges, and derivative securities;

governs the relations arising in case of consolidation of money and (or) securities in fund of bank management based on trust management agreements of fund of bank management and also when functioning this fund, including determines essential conditions, procedure for the conclusion of the specified agreements, the rights, obligations and responsibility of the parties;

determines procedure for carrying out in the Republic of Belarus for calculations in non-cash and cash forms, including the amount of payments with cash in Belarusian rubles between legal entities, their separate divisions, individual entrepreneurs;

will organize collection and transportation of cash, precious metals and gemstones and other values;

performs settlement and (or) cash servicing of the Government of the Republic of Belarus, the organizations which list is determined in the Charter of National Bank, and other organizations in the cases provided by legal acts of the Republic of Belarus;

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