RESOLUTION OF BOARD OF NATIONAL BANK OF THE REPUBLIC OF BELARUS

of October 24, 2007 No. 195

About approval of the Instruction about temporary administration on bank management and the non-bank credit and financial organization

Based on Articles 26, the Board of National Bank of the Republic of Belarus DECIDES: 134 Bank codes of the Republic of Belarus

1. Approve the enclosed Instruction about temporary administration on bank management and the non-bank credit and financial organization.

2. Declare invalid the resolution of Board of National Bank of the Republic of Belarus of January 25, 2001 No. 4 "About approval of Rules of appointment and the termination of activities of temporary administration for bank management and the non-bank credit and financial organization" (The national register of legal acts of the Republic of Belarus, 2001, No. 22, 8/4962).

3. This resolution becomes effective after its official publication.

Approved by the Resolution of Board of National Bank of the Republic of Belarus of October 24, 2007 No. 195

The instruction about temporary administration on bank management and the non-bank credit and financial organization

Chapter 1. General provisions

1. The instruction about temporary administration on bank management and the non-bank credit and financial organization (further - the Instruction) is developed according to articles 26 and 134 of the Bank code of the Republic of Belarus (further - the Bank code), Articles 192, 205-207 Laws of the Republic of Belarus of July 18, 2000 "About economic insolvency (bankruptcy)" (The national register of legal acts of the Republic of Belarus, 2000, No. 73, 2/198) (further - the Law) and establishes procedure for appointment, the organization, implementation and termination of activities of temporary administration for bank management and the non-bank credit and financial organization (further - temporary administration).

2. The temporary administration is the special body of management of bank and the non-bank credit and financial organization (further - bank) appointed by National Bank of the Republic of Belarus (daleenatsionalny bank) in cases, stipulated in Article 134 Bank codes and (or) article 193 of the Law, according to the procedure, established by the legislation.

In case of accomplishment of the functions the temporary administration is guided by the legislation and this Instruction.

Chapter 2. Procedure for appointment of temporary administration

3. The National Bank has the right to appoint temporary administration in the presence of the bases, stipulated in Article 134 Bank codes and (or) article 193 of the Law.

4. The decision on appointment of temporary administration is made by Board of National Bank based on the conclusion of head department of banking supervision of National Bank. The specified conclusion can be prepared taking into account the conclusions of other interested structural divisions of central office of National Bank and (or) head departments of National Bank on areas.

The conclusion about appointment of temporary administration shall contain:

general information about bank - its name, registration number in the Single state register of legal entities and individual entrepreneurs, date of state registration, the location, and also number and date of issue of special permission (license) for implementation of banking activity (further - the license) and the list of banking activities which the bank has the right to perform according to it;

basis(es) for appointment of temporary administration;

the conclusion about financial position of bank (taking into account results of the last complex and (or) thematic checks for the last year, estimates of the violations revealed in activities of bank and results of their elimination by which to bank it was taken out (ись) the instruction(s) earlier or corrective actions were applied);

the motivated judgment of activities of bank containing conclusions on availability of the bases for appointment of temporary administration;

offers on effective period of temporary administration and start date of work of temporary administration;

the offer on the candidate for position of the head of temporary administration with indication of surname, own name, middle name of the candidate, data on availability of the special certificate of the interim (anti-recessionary) manager in case of bankruptcy of the bank (further - the certificate of the managing director) issued by National Bank;

the offer on restriction or suspension of powers of executive bodies of bank during activities of temporary administration;

offer on suspension of satisfaction of requirements of creditors of bank (if necessary);

other information which the head department of banking supervision of National Bank recognizes essential to reasons for the conclusion about appointment of temporary administration.

5. The decision on appointment of temporary administration is drawn up by the resolution of Board of National Bank.

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