DECREE OF THE PRESIDENT OF THE REPUBLIC OF BELARUS

of February 5, 1997 No. 1

About measures for providing procedure when implementing currency transactions

For the purpose of streamlining of currency transactions and strengthening of responsibility for violation of the foreign exchange legislation of the Republic of Belarus according to part three of article 101 of the Constitution of the Republic of Belarus I decide:

1. Determine that:

transactions with participation of physical persons on purchase and sale and exchange of cash foreign currency and payment (cash) documents in foreign currency (further - foreign currency) are performed only in the exchange points (cash desks) of authorized banks and other subjects of managing performing currency transactions in the presence at them the corresponding license of National Bank;

purchase of foreign currency by physical persons is performed without registration of passport data of these persons if other is not provided by legal acts for prevention of legalization of income gained in the illegal way;

persons, representatives to perform checks of observance of rules of carrying out currency transactions, have the right of easy access in exchange points (cash desks) performing currency transactions.

2. Ceased to be valid

3. The damage caused to the state, legal entities or physical persons by violation of procedure of currency transactions is subject to compensation in the tenfold size according to the procedure established by the legislation.

4. To Council of Ministers of the Republic of Belarus:

in week time to determine accounting treatment, storages and transfers in the republican budget of the means which are subject to confiscation according to this Decree;

in a month to bring into accord with this Decree of the decision of the Government of the Republic of Belarus and bodies subordinated to it.

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