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RESOLUTION OF BOARD OF THE NATIONAL BANK OF UKRAINE

of June 28, 2024 No. 77

About modification of some regulatory legal acts of the National Bank of Ukraine

According to Articles 7, of 15, 55-1, 56, of 61 Law of Ukraine "About the National Bank of Ukraine", Articles 14, of 21, of 40, of 42, 50 Laws of Ukraine "About financial services and finance companies", Articles 16, of 19, of 21, of 22, of 27, of 28, of 31, of 32, of 33, of 37, of 38, of 41, of 46, of 47, of 55, of 59, of 61, of 62, of 114, of Items 5, of the 9th Section XV of the Law of Ukraine "About insurance", Articles 78, 79 Laws of Ukraine "About payment services", Articles 17, of 25, 37 Laws of Ukraine "About credit unions", for the purpose of enhancement of regulation of activities for provision of the financial and accompanying services Board of the National Bank of Ukraine decide:

1. Approve Changes in:

1) Regulations on procedure of authorization of activities of suppliers of financial payment services and limited payment services, the Board of the National Bank of Ukraine approved by the resolution of October 07, 2022 No. 217 (with the enclosed changes);

2) Regulations on registration of insurance and reinsurance brokers and condition of implementation of intermediary activities in the field of the insurance approved by the resolution of Board of the National Bank of Ukraine of June 30, 2022 No. 135 (with the enclosed changes);

3) Regulations on procedure for appointment, implementation and termination of temporary administration of the insurer, the credit union approved by the resolution of Board of the National Bank of Ukraine of December 23, 2023 No. 178 (with the enclosed changes).

2. No. 182 "About approval of the Regulations on characteristics and classification signs of classes of insurance, features of implementation of activities for insurance and the conclusions of agreements on insurance classes" (with changes) after item 4 to add the resolution of Board of the National Bank of Ukraine of December 25, 2023 with two new Items 4-1, 4-2 of the following content:

"4-1. The National Bank of Ukraine (further - National Bank) under the conditions determined in Item 4-2 of this resolution till December 31, 2024 does not constitute the document in which violation is fixed, and does not apply to the insurer who had the status of the insurer as of January 01, 2024 which insurance agents did not bring activities into accord with requirements of the Provision in time, specified in item 4 of this resolution, corrective actions for violation of requirements of the Provision regarding reduction in compliance with requirements of the Provision of activities of insurance agents of such insurer concerning procedure for the conclusion of insurance contracts with their participation.

4-2. The National Bank does not constitute the document in which violation is fixed, and does not apply corrective actions according to Item 4-1 of this resolution on condition of provision by the insurer to National Bank no later than July 15, 2024:

1) information that insurance agents of the insurer do not bring activities into accord with requirements of provision in the time determined in item 4 of this resolution with reasons for the reasons;

2) descriptions of actions (stages) directed to reduction of the activities in compliance with requirements of the Provision with indication of the term during which activities of its insurance agents will be brought into accord with requirements of the Provision. Date of completion of such term cannot exceed on December 31, 2024.".

3. Approve Changes in Regulations on characteristics and classification signs of classes of insurance, features of implementation of activities for insurance and the conclusions of agreements on classes of the insurance approved by the resolution of Board of the National Bank of Ukraine of December 25, 2023 No. 182 (with the enclosed changes).

4. No. 184 "About approval of the Regulations on voluntary exit from the market of the insurer and transfer of the insurance portfolio by the insurer" after Item 2 to add the resolution of Board of the National Bank of Ukraine of December 25, 2023 with two new Items 2-1, 2-2 of the following content:

"2-1. Insurers who give to the National Bank of Ukraine (further - National Bank) documents according to Item 19 of the Section IV, Item 54 of the Section VI and Items 68, of the 77th Section VII of the Provision till January 01, 2025, constitute the forecast reports on the capital and calculation of solvency specified in the subitem 7 of Item 19 of the Section IV, the subitem 5 of Item 54 of the Section VI, Item 68 of the Section VII of the Provision on the forms approved by the administrative act of National Bank and placed on the page of official Internet representative office of National Bank.

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