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PRESIDENTIAL DECREE OF THE REPUBLIC OF BELARUS

of March 3, 2010 No. 131

About carrying out experiment on creation of funds of bank management

For the purpose of providing favorable conditions for development in the Republic of Belarus of investing activities, and also functioning of funds of bank management I decide:

1. Conduct from May 1, 2010 to December 31, 2012 experiment on creation by open joint stock company "The Belarusian development bank and reconstruction Belinvestbank and Priorbank by open joint stock company of funds of bank management.

2. Approve the enclosed Regulations on fund of bank management.

3. Determine that income (profit) of obligees (beneficiaries) gained from participation in funds of bank management is not the taxation objects for calculation of taxes, charges (duties).

4. To National Bank:

in three-months time to take measures for implementation of this Decree;

explain questions of application of this Decree;

till March 1, 2012 to provide to the President of the Republic of Belarus information on the course of carrying out experiment and the offer on its prolongation or giving to regulations of this Decree of permanent nature and their distribution on all banks of the Republic of Belarus.

5. This Decree becomes effective since May 1, 2010, except for item 4 and this Item which are becoming effective from the date of official publication of this Decree.

 

President of the Republic of Belarus A. Lukashenko

Approved by the Presidential decree of the Republic of Belarus of March 3, 2010 No. 131

Regulations on fund of bank management

Chapter 1. General provisions

1. This Provision governs the relations arising in case of consolidation of money and (or) securities in fund of bank management based on trust management agreements of fund of bank management and the subsequent investment into the objects determined in this Provision.

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