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RESOLUTION OF BOARD OF THE NATIONAL BANK OF UKRAINE

of December 29, 2023 No. 199

About approval of the Regulations on authorization of suppliers of financial services and condition of implementation by them of activities for provision of financial services
(Extraction)

According to Articles 7, of 15, of 44, 55-1, 56 of the Law of Ukraine "About the National Bank of Ukraine", Articles 13, 21-22, 29-38 of the Law of Ukraine "About financial services and finance companies", articles 11-15, 114 of the Law of Ukraine of November 18, 2021 No. 1909-IX "About insurance", articles 9-13, 37 of the Law of Ukraine of July 14, 2023 No. 3254-IX "About credit unions", article 5 of the Law of Ukraine "About consumer crediting", Articles 9, 11 Laws of Ukraine "About currency and currency transactions", for the purpose of settlement of procedure for authorization of suppliers of financial services, regulations and supervision of which are performed by the National Bank of Ukraine, the Board of the National Bank of Ukraine DECIDES:

1. Approve Regulations on authorization of suppliers of financial services and condition of implementation by them of activities for provision of financial services (further - the Provision) which is applied.

2. Documents for acquisition by person of the status of financial organization / the legal entity who is not financial institution, but has the right to provide separate financial services (lessor), and/or receipt of license for activities on provision of financial services, concerning acquisition or the increase in essential participation in the insurer which arrived in the National Bank of Ukraine (further - National Bank) before entry into force of this resolution and on which the National Bank did not make the decision on inclusion of person in the State register of financial organizations / the Register of faces which are not financial institutions, but have the right to provide separate financial services (further - or issue of the corresponding license, simultaneous inclusion in the Register and licensing, or about refusal in inclusion in the Register and licensing, about refusal in inclusion in the Register, or about refusal in issue of such license, approval or refusal in approval of acquisition or increase in essential participation in insurance, as of January 01, 2024, are left without consideration. Such persons since January 01, 2024 have the right to file to National Bank documents for receipt of license for activities on provision of financial services, approvals of acquisition or increase in essential participation in insurance according to requirements of the Provision.

The National Bank within five working days from the date of entry into force of this resolution sends to such persons the notification on leaving of document packages without consideration and returns document packages which were given in paper form, by mail with the assurance of receipt.

The National Bank returns to the applicant the means paid to them for service in consideration of document package in case of receipt from the applicant of the petition for return of the means paid by the applicant for service (if the service was not provided), on the details provided by the applicant in the petition.

3. The National Bank considers the documents of persons submitted for implementation of the procedures determined by the Regulations on licensing and registration of suppliers of financial services and condition of implementation by them of activities for provision of financial services approved by the resolution of Board of the National Bank of Ukraine of December 24, 2021 No. 153 (with changes) (further - No. Provision 153), except 4 presents of the resolution determined in Items 2,, according to the requirements provided  No. Provision 153, and according to the procedure, determined by the legislation existing till December 31, 2023.

4. The procedures for reorganization and liquidation of suppliers of financial services (except insurers) begun till December 31, 2023, and for which implementation the packet is given, documents/documents in National Bank according to No. Provision 153, till December 31, 2023 come to the end according to requirements of the legislation of Ukraine existing till December 31, 2023.

Insurers whose general meeting made the decision on reorganization till December 31, 2023, report about it National Bank in time, stipulated by the legislation, acting till December 31, 2023.

Procedures of reorganization of insurers which general meeting made the decision on reorganization till December 31, 2023 and if the insurer notified National Bank in time, stipulated by the legislation, acting before entry into force of this resolution, come to the end with filing of application about the cancellation of the license and exception of the State register of financial institutions according to the procedure determined by the regulatory legal act of National Bank about voluntary exit from the market of the insurer and transfer of the insurance portfolio by the insurer.

The liquidation procedure of insurers for which implementation permission of National Bank till December 31, 2023 is provided comes to the end with filing of application about the cancellation of the license and exception of the State register of financial institutions according to the procedure determined by the regulatory legal act of National Bank about voluntary exit from the market of the insurer and transfer of the insurance portfolio by the insurer.

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