PRESIDENTIAL DECREE OF THE REPUBLIC OF BELARUS

of July 17, 2006 No. 452

About obligatory sale of foreign currency

For the purpose of ensuring stability of Belarusian ruble, needs of legal entities and individual entrepreneurs in foreign currency, and also enhancement of procedure for obligatory sale of foreign currency:

1. Determine that the legal entities and individual entrepreneurs who are residents of the Republic of Belarus according to the Law of the Republic of Belarus of July 22, 2003 "About currency control and currency exchange control" (The national register of legal acts of the Republic of Belarus, 2003, No. 85, 2/978) (daleeyuridichesky persons and individual entrepreneurs), perform obligatory sale of foreign currency in the domestic foreign exchange market of the Republic of Belarus in the amount of (percentage of revenue amount in foreign currency) and procedure, determined by National Bank.

2. Revenue in foreign currency for the purposes of this Decree is the foreign currency cash according to the list of the foreign currencies which are subject to obligatory sale in the domestic foreign exchange market, determined by National Bank arriving to legal entities and individual entrepreneurs into their accounts in banks and the non-bank credit and financial organizations of the Republic of Belarus, in banks and other credit institutions outside the Republic of Belarus according to the transactions providing:

2.1. with the legal nonresident persons and physical nonresident persons performing business activity - on paid basis transfer of goods, the protected information, exclusive rights on results of intellectual activities, property in lease, performance of works, rendering services;

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