THE DECISION OF STATE COMMISSION ON SECURITIES AND THE STOCK MARKET OF UKRAINE

of May 26, 2006 No. 349

About approval of Licensed conditions of implementation of professional activity in the stock market - depository activity

According to Civil and Economic codes of Ukraine Articles 3, of 4, of 7, 8 Laws of Ukraine "About state regulation of the security market in Ukraine", Articles 16, of 17, of 19, 20 - 27 Laws of Ukraine "About securities and the stock market", the Laws of Ukraine "About economic societies", "About National depositary system and features of electronic security circulation in Ukraine", "About financial services and state regulation of the markets of financial services", "About prevention and counteraction of legalization (washing) of income gained in the criminal way", "About state registration of legal entities and physical persons - entrepreneurs", "About banks and banking activity", taking into account Articles 13, 19 Laws of Ukraine "About licensing of certain types of economic activity", other regulatory legal acts, State commission on securities and the stock market SOLVED:

1. Approve Licensed conditions of implementation of professional activity in the stock market - depository activity (are applied).

2. To keepers of securities and the depositary performing activities based on the corresponding license to bring the activities into accord with requirements of Licensed conditions of implementation of professional activity on share rynkedepozitarny activities within six months from the effective date of these Licensed conditions.

3. To provide to the chief of staff of State commission on securities and the stock market M. Nepran:

provision on registration of this decision in the Ministry of Justice of Ukraine;

publication of this decision according to the legislation.

4. This decision becomes effective in the procedure established by the legislation.

5. Control of execution of this decision to assign to the Chief of staff of State commission on securities and the stock market M. Nepran.

Approved by the Decision of State commission on securities and the stock market of Ukraine of May 26, 2006 No. 349

Licensed conditions of implementation of professional activity in the stock market - depository activity

These Licensed conditions drafted according to Civil and Economic codes of Ukraine, Chapter III of the Labor code of Ukraine, Articles 3, of 4, of 7, 8 Laws of Ukraine "About state regulation of the security market in Ukraine", Articles 16, of 17, of 19, 20 - 27 Laws of Ukraine "About securities and the stock market", the Laws of Ukraine "About economic societies", "About joint-stock companies", "About National depositary system and features of electronic security circulation in Ukraine", "About financial services and state regulation of the markets of financial services", "About prevention and counteraction of legalization (washing) of income gained in the criminal way", "About state registration of legal entities and physical persons - entrepreneurs", "About banks and banking activity", taking into account Articles 13, 19 Laws of Ukraine "About licensing of certain types of economic activity", other regulatory legal acts, determine qualification, organizational, production and other special requirements for implementation of certain types of professional activity in the stock market.

Section I. General provisions

1. These Licensed conditions establish the qualification, organizational, production and other requirements obligatory for accomplishment when implementing professional activity in the stock market - depository activity, except depositary deyatelnostideyatelnost on maintaining registers of owners of personalized securities which implementation is regulated by the separate regulatory legal act of State commission on securities and the stock market (daleekomissiya).

2. In these Licensed conditions of determination "depository activity" including "settlement and clearing activities" are used in the values provided by the Law of Ukraine "About state regulation of the security market in Ukraine", determinations "keeper" and "depositary" are used in the values provided by the Law of Ukraine "About National depositary system and features of electronic security circulation in Ukraine".

3. The professional participant of the stock market (licensee) according to the obtained license for implementation of separate type of professional activity in the stock market - depository activity has the right to perform such types of activity:

3.1 depository activity of securities depository;

3.2 depository activity of the keeper of securities;

3.3 settlement and clearing activities.

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