of March 17, 1993 No. 23-93
About confidential societies
This Decree determines concept of confidential society, feature of its creation and activities.
Confidential society - the additional liability company performing representative activities according to the agreement signed with principals of property concerning realization of their rights of owners. Property of the principal are the money, securities and documents certifying the property right of the principal.
The principal of property - the legal entity or the citizen who delegate to confidential society powers of the owner of the property belonging to them in accordance with the terms of the agreement signed between them.
Confidential society has the settlement account which is opened by the commercial bank servicing implementation of confidential transactions and providing safe custody of own money of confidential society and property of principals.
Confidential transactions - services which confidential society provides to principals of property.
Rules of creation, activities, and also the right and obligation of participants and founders of confidential society are determined by the Law of Ukraine "About economic societies" taking into account the features established by this Decree.
The foundation agreement shall provide the arrangement on responsibility on obligations to commercial bank and principals of property, about the right of authorized representatives to the signature of checks, carrying out other transactions or receipt of the documents which are on safe custody in commercial bank.
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The document ceased to be valid since July 1, 2020 according to Item 2 of the Section II of the Law of Ukraine of September 12, 2019 No. 79-IX