Unofficial transfer (c) Soyuzpravoinform LLC

LAW OF UKRAINE

of November 22, 2023 No. 3498-IX

About introduction of amendments to some laws of Ukraine concerning enhancement of state regulation of the markets of financial services

The Verkhovna Rada of Ukraine decides:

I. Make changes to the following laws of Ukraine:

1. In the Law of Ukraine "About the National Bank of Ukraine" (Sheets of the Verkhovna Rada of Ukraine, 1999, No. 29, Art. 238 with the following changes):

Items 33-1 and 38 of part one of Article 7 to state 1) in the following edition:

"33-1) provides forming and realization of state policy in the field of protection of critical infrastructure concerning banks, other persons performing activities in the markets of non-bank financial services, state regulation and supervision of which activities the National Bank exercises, operators of payment systems and/or members of payment service providers, technological operators of payment services according to the law determining legal and organizational basis of functioning and protection of critical infrastructure";

"38) is determined by procedure for use of technology of cloud computing and provision of cloudy services by banks, other persons performing activities in the markets of non-bank financial services, state regulation and supervision of which activities is exercised by National Bank, operators of payment systems and/or members of payment service providers, technological operators of payment services";

2) in part three of Article 33 of the word "provision to banks of services in collection" shall be replaced with words "implementation of transactions with cash";

Part the fifth Article 56 to replace 3) with eight new parts of the following content:

"The National Bank develops, considers and adopts the regulatory legal acts having signs of regulatory acts with respect for the principles of the state regulatory policy determined by the Law of Ukraine "About fundamentals of the state regulatory policy in the field of economic activity".

In case of development of the regulatory legal acts having signs of regulatory acts, National Bank in the procedure established by it carries out discussion of the draft of the regulatory legal act.

Prior to discussion the National Bank carries out the analysis of influence of the draft of the regulatory legal act on the market of financial, accompanying services including calculation of the expected expenses and benefits of participants of the market, citizens and the states owing to action of the draft of the regulatory legal act except cases if such calculation cannot be perfromed due to the lack of source of the confirmed information which shall be used for its carrying out. Results of such analysis and the draft of the corresponding regulatory legal act are subject to promulgation on the page of official Internet representative office of National Bank in the procedure established by it. Participants of the market of financial services have the right to independently perform the analysis of influence of drafts of the regulatory legal acts developed by National Bank, to trace effectiveness of such acts, to submit by results of these activities of the note and the proposal in National Bank which based on the analysis of such documents can make the decision on need of review of the regulatory legal act.

Discussion of the draft of the regulatory legal act is carried out in the following procedure:

1) promulgation of the draft of the regulatory legal act on pages of official Internet representative office of National Bank for the purpose of receipt of notes and proposals of interested persons. Term for provision by interested persons of notes and offers is determined by National Bank and shall be pro rata to project scope of the promulgated regulatory legal act and cannot constitute less than 10 days;

2) promulgation of the notes and proposals to the draft of the regulatory legal act submitted in National Bank in the form established by it. The National Bank has the right to carry out discussion of the received notes and offers. The discussion method, in case of its carrying out, is determined by National Bank. The National Bank considers notes and offers to the promulgated draft of the regulatory legal act in the time established by it and, in case of feasibility determination, considers them in the draft of the regulatory legal act;

3) promulgation on pages of official Internet representative office of National Bank in the procedure for the generalized results of discussion established by it with indication of summarized information on the offers which arrived in the draft of the regulatory legal act, and summarized information on accounting or variation of such offers.

The National Bank does not carry out discussion of drafts of regulatory legal acts:

1) concerning introduction and implementation of actions of legal regime of warlike, emergency state, the announcement of zone of emergency ecological situation, mobilization and demobilization including developed on accomplishment of functions, determined by Item 20 parts one of article 7 of this Law and also concerning introduction and implementation of actions for action of the quarantine established by the Cabinet of Ministers of Ukraine for the purpose of prevention of origin and spread of especially dangerous infectious diseases;

2) the functions developed on accomplishment determined by Items 3 and 30 of part one of article 7 of this Law;

3) concerning realization of monetary policy, implementation of currency control and currency supervision (including introduction of measures of protection), determinations of procedure of foreign currency transactions, and also actions aimed at providing stability of monetary unit of Ukraine, including developed according to requirements of Sections IV-VIII of this Law;

4) concerning supervision and application of corrective actions for violation of the law, including in the field of realization of special economic and other rationing measures (sanctions);

5) containing the state secret;

6) the containing provisions directed to agreement performance about association between Ukraine, on the one hand, and the European Union, European Atomic Energy Community and their state members, on the other hand, including appendices to it;

7) providing modification, the corrections concerning introduction, amendments, elimination of mistakes, contradictions in the text of the regulatory legal act without change of its content.

If the draft of the regulatory legal act at the same time contains the regulations provided by Items 1, of 2, of 6, 7 parts nine of this Article, and the regulations directed to legal regulation of other relations to discussion the regulations which are not provided by Items 1, of 2, of 6, 7 parts nine of this Article are subject only. At the same time all draft of the regulatory legal act is subject to publication.

If the draft of the regulatory legal act at the same time contains the regulations provided by Items 3-5 of part nine of this Article and the regulations directed to legal regulation of other relations to discussion the regulations which are not provided by Items 3-5 of part nine of this Article are subject only. At the same time the draft of the regulatory legal act, except the regulations provided by Items 3-5 of part nine of this Article is subject to publication.

The National Bank, in case of determination of feasibility by it, has the right to discuss the drafts of regulatory legal acts provided by part nine of this Article".

With respect thereto the sixth or ninth to consider parts respectively parts of the thirteenth or sixteenth;

The Section XV "Final provisions" to add 4) with Item 11 of the following content:

"11. From the date of entry into force of the Law of Ukraine "About introduction of amendments to some laws of Ukraine concerning enhancement of state regulation of the markets of financial services of" the requirement of the Law of Ukraine "About fundamentals of the state regulatory policy in the field of economic activity" are not applied to the regulatory legal acts of National Bank having signs of regulatory acts".

2. In the Law of Ukraine "About banks and banking activity" (Sheets of the Verkhovna Rada of Ukraine, 2001, No. 5-6, of Art. 30 with the following changes):

1) in Article 2:

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