RESOLUTION OF BOARD OF NATIONAL BANK OF THE REPUBLIC OF BELARUS

of September 29, 2011 No. 414

About modification and amendments in Rules of implementation of transactions with electronic money

Based on paragraphs of the sixth, Article 26 and part one of article 39 of the Bank code of the Republic of Belarus the Board of National Bank of the Republic of Belarus DECIDES: the eighth, seventeenth, twenty fifth

1. Bring in the Rules of implementation of transactions with electronic money approved by the resolution of Board of National Bank of the Republic of Belarus of November 26, 2003 No. 201 (The national register of legal acts of the Republic of Belarus, 2003, No. 139, 8/10290; 2007, No. 84, 8/16081; 2009, No. 175, 8/21237), following changes and amendments:

1.1. in Item 3:

state paragraph two in the following edition:

"electronic money - the cost units which are stored in electronic form released in exchange for cash or non-cash and accepted as instrument of payment when implementing calculations as with person which released these cost units and with other legal entities and physical persons, and also the obligations of this person expressing the amount on return of money to any legal entity or physical person in case of presentation of these cost units;";

in the paragraph the twelfth shall be replaced with words the words "in payment for goods, works, services" ", including from one e-wallet in other e-wallet, in payment of goods, works, services";

1.2. to add item 4 after the words "Item of cash disbursement of money" with the word", "maps checks";

1.3. in Item 5:

in part one of the word "shall have" shall be replaced with words ", the agent bank shall be had";

the second to exclude part;

the third or sixth to consider parts respectively parts second or heel;

1.4. add Item 6 with words ", and also provide effective management and control of the operational risks arising when making transactions with electronic money";

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