PRESIDENTIAL DECREE OF THE REPUBLIC OF BELARUS

of April 28, 2006 No. 278

About enhancement of regulation of circulation of bills in the Republic of Belarus

1. Determine that in the territory of the Republic of Belarus:

1.1. has the right to issue, accept, pay simple and drafts, and also to endorse and give the aval:

on behalf of the Republic of Belarus and its administrative and territorial units - the President of the Republic of Belarus or Council of Ministers of the Republic of Belarus in the cases established by the President of the Republic of Belarus;

The National Bank, other banks included in the list of the banks of the Republic of Belarus having the right to undertake on the bill of exchange, approved by National Bank in coordination with the President of the Republic of Belarus;

other legal entities of the Republic of Belarus, except the organizations financed from the budget;

the international organizations, foreign state bodies and the organizations, foreign citizens and stateless persons which do not have the permanent residence in the territory of the Republic of Belarus;

1.2. issue, indorsing and avalization simple and the bills of exchange which are not provided with money and other property of person who with respect thereto has obligations on the bill of exchange, including the property rights belonging to this person other alienable rights, having money value are not allowed.

As ensuring the actions specified in part one of this subitem the property, the right to which alienation is limited to the legislation, court, the owner or the agreement, cannot be used;

1.3. implementation of the right to issue simple and drafts, their copies and copies of bill of exchange, to endorse and avalize simple and drafts, and also to accept drafts stops if transactions of legal entities on their accounts and in other cases provided by legal acts are suspended;

1.4. the amount of obligations on issued, endorsed and avalized simple and to bills of exchange, and also the accepted bills of exchange which can be shown for payment shall not exceed for:

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