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

of March 23, 2006 No. 5523

About approval of Licensed conditions of implementation of money transfer by non-bank financial institutions

According to Item 3 parts one of Article 28 and item 4 of part one of article 34 of the Law of Ukraine "About financial services and state regulation of the markets of financial services", articles 10 and 12 of the Law of Ukraine "About payment systems and money transfer in Ukraine", 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, and taking into account the Law of Ukraine "About prevention and counteraction of legalization (washing) of income gained in the criminal way" State commission on regulation of the markets of financial services of Ukraine DECIDED:

1. Approve Licensed conditions of implementation of money transfer by non-bank financial institutions (are applied).

2. Financial institutions which provided services in money transfer by means of payment systems before entry into force by these Licensed conditions shall within six months after entry into force of these Licensed conditions to obtain the corresponding license.

3. (Mosiychuk T. K.) and to Legal department (Chursin O. V.) to provide to department of state regulation and market development of financial services submission of this order in the Ministry of Justice of Ukraine for state registration.

4. Control of execution of the order to assign to members of the commission - directors of the department of supervision of credit institutes and the director of the department of supervision of finance companies.

Approved by the Order of State commission on regulation of the markets of financial services of Ukraine on March 23, 2006 No. 5523

Licensed conditions of implementation of money transfer by non-bank financial institutions

These Licensed conditions 3 parts one of Article 28 and item 4 of part one of article 34 of the Law of Ukraine "About financial services and state regulation of the markets of financial services", articles 10 and 12 of the Law of Ukraine "About payment systems and money transfer in Ukraine", 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, and taking into account the Law of Ukraine "About prevention and counteraction of legalization (washing) of income gained in the criminal way" are developed according to Item.

Action of these Licensed conditions extends to non-bank financial institutions which intend to become payment institutes (in case of transfer of means by them) or members of the interstate payment service providers (IPS), to sign the contribution agreement or membership with payment institutes of the international payment systems (IPS) for money transfer implementation by means of these payment systems.

1. General provisions

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

the applicant - non-bank financial institution which is entered in the State register of financial institutions (further - the Register) also submits the application for receipt of the license for money transfer implementation;

the licensee - the non-bank financial institution which obtained the license of State commission on regulation of the markets of financial services of Ukraine or the National commission performing state regulation in the field of the markets of financial services on money transfer implementation;

licensing - issue, renewal, temporary stop and cancellation of licenses, issue of duplicates and copies of the license, conducting licensed cases, control of observance by licensees of licensed conditions, issue of orders about elimination of violations of licensed conditions;

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