RESOLUTION OF BOARD OF THE NATIONAL BANK OF UKRAINE

of January 14, 2005 No. 8

About approval of the Instruction about the organization of production, release into the stream of commerce and realization of commemorative coins of Ukraine and souvenirs

According to Articles 7, "About the National Bank of Ukraine" and for the purpose of normative settlement of procedure for the organization of production, release into the stream of commerce and realization of commemorative coins of Ukraine and souvenirs the Board of the National Bank of Ukraine DECIDES: 33 and 42 Laws of Ukraine

1. Approve the Instruction about the organization of production, release into the stream of commerce and realization of commemorative coins of Ukraine and souvenirs it (is applied).

2. Recognize such which voided the resolution of Board of the National Bank of Ukraine of 07.11.2000 N438 "About Approval of the Instruction about the Organization of Production, Release Into the Stream of Commerce and Realization of Commemorative and Anniversary Coins of Ukraine" registered in the Ministry of Justice of Ukraine 27.11.2000 for N876/5097.

3. To inform department of cash currency circulation (N. V. Dorofeyev) after state registration in the Ministry of Justice of Ukraine of contents of this resolution data of territorial administrations, structural units and specialized enterprises of the National Bank of Ukraine for use in work.

4. The resolution becomes effective in 10 days after state registration in the Ministry of Justice of Ukraine.

5. To impose control over the implementation of this resolution on the vice-chairman of the National Bank of Ukraine V. L. Krotyuk and the director of the department of cash currency circulation N. V. Dorofeyeva.

Approved by the Resolution of Board of the National Bank of Ukraine of January 14, 2005 No. 8

The instruction about the organization of production, release into the stream of commerce and realization of commemorative coins of Ukraine and souvenirs

1. General provisions

1.1. This Instruction is developed according to the Law of Ukraine "About the National Bank of Ukraine" and the Presidential decree of Ukraine of 28.09.2004 of N1142 "About Exclusive Right of the National Bank of Ukraine" according to which the National Bank of Ukraine (further - National Bank) is granted exclusive right on production of commemorative coins (further - coins), and establishes procedure for planning, the organization of production, release into the stream of commerce and realization of these coins which are legal means of payment in the territory of Ukraine, and also souvenirs, and in connection with use for their production of precious and non-noble metals, and also use of special technologies of stamping and decorating, can be implemented at the prices which differ from their nominal cost.

1.2. In this Instruction terms are used in such value:

auction for sale of commemorative coins of Ukraine and souvenirs (further - auction) - sale of commemorative coins of Ukraine and souvenirs owing to which their owner is that participant (legal entity or physical person) who during tendering offered the highest price.

the distributor of National Bank selling commemorative coins of Ukraine (further - the distributor) - bank of Ukraine which based on the relevant contract with National Bank sells coins and souvenirs in the domestic market on its own behalf;

the cost of production of coins and souvenirs - expense amount of Banknote mint of the National Bank of Ukraine (further - Banknote mint) on production of coins and souvenirs or expenses of the State treasury of Ukraine (daleegosudarstvenny treasury) on their acquisition which enter their price;

wholesale price of National Bank - the price at which to Operating rooms and territorial administrations of National Bank coins to distributors are implemented by batches;

commemorative coins - coins from precious or non-noble metals which are made using special technologies which provide the increased quality of coins and are released by National Bank limited circulations on the occasion of celebration of anniversaries, memorable events of history and the present, actions for protection of the surrounding environment, other events of public life;

the damaged coins - deformed, contaminated, and also those which underwent to influence of fire highly active substances (acid and so forth) and corrosion or with the hidden defect of the producer (defect for which detection in the regulating documents obligatory for this type of control, the corresponding rules, methods and means are not provided);

retail price of National Bank - the price according to which to Operating rooms and territorial administrations of National Bank coins and souvenirs at retail to physical persons and legal entities are implemented;

the specification of coins - technical characteristics of coins from precious and non-noble metals;

souvenirs - products with use of change and turnover coins or banknotes of national currency of Ukraine in souvenir packaging (sets of banknotes, coins, uncut sheets of banknotes), and also those which have no hryvnia nominal and do not perform function of instrument of payment (souvenir silver hryvnias, souvenir products from precious metals which imitate banknotes and so forth);

souvenir coins - coins which by the size and design repeat turnover or change of Ukraine in precious metal and the increased quality of stamping and are released by National Bank limited circulations;

the accompanying products - products which accompany release into the stream of commerce of coins and souvenirs (capsules, cases, certificates and so forth);

anniversary coins - kind of commemorative coins which are issued on the occasion of anniversaries of outstanding persons, important events of internal and international life of Ukraine;

quality of stamping of coins - the characteristic of physical (external) condition of coins ("proof", "proof-like", "анциркулейтед", "diamond-antsirkuleyted", "special анциркулейтед") which is reached by means of use of special technologies of stamping. Quality categories of stamping of coins are specified in amendment 2 to this Instruction.

2. Procedure for planning of release of coins and souvenirs

2.1. The department of cash currency circulation (daleedepartament) develops perspective long-term programs and the annual plan of release of coins and souvenirs of Ukraine the next year (further - the plan of release of coins) and gives it till May 1 of the current year to Board of National Bank for consideration and approval.

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