THE ORDER OF THE NATIONAL COMMISSION WHICH PERFORMS STATE REGULATION IN THE FIELD OF THE MARKETS OF FINANCIAL SERVICES OF UKRAINE

of October 9, 2012 No. 1676

About approval of Licensed conditions of conducting activities for administration of financial assets for purchase of goods in groups

According to Items 1, 3, 4 and 7 parts one of article 28 of the Law of Ukraine "About financial services and state regulation of the markets of financial services", item 4 of Final provisions of the Law of Ukraine of June 02, 2011 No. 3462-VI "About introduction of amendments to some laws of Ukraine concerning regulation of the markets of financial services", Regulations on the National commission which performs state regulation in the field of the markets of financial services, the approved Presidential decree of Ukraine of November 23, 2011 No. 1070, and Regulations on entering of information of rather finance companies into the State register of financial institutions and establishment of requirements to the accounting and registering system of finance companies, the approved order of State commission on regulation of the markets of financial services of Ukraine of December 05, 2003 No. 152, registered in the Ministry of Justice of Ukraine on December 29, 2003 for No. 1252/8573 (with changes), and also for the purpose of ensuring state regulation and supervision of activities for administration of financial assets for purchase of goods in groups the National commission which performs state regulation in the field of the markets of financial services DECIDED:

1. Approve Licensed conditions of conducting activities for administration of financial assets for purchase of goods in groups which are applied.

2. To provide to department of regulation and supervision of finance companies together with legal department this order to the Ministry of Justice of Ukraine for state registration.

3. This order becomes effective from the date of its official publication.

4. To provide to the sector of public relations and the protocol promulgation of this order after its state registration.

5. Control over the implementation of this order to assign to the member Natskomfinuslug Burmaka M. O.

Approved by the Order of the National commission which performs state regulation in the field of the markets of financial services of Ukraine of October 9, 2012 No. 1676

Licensed conditions of conducting activities for administration of financial assets for purchase of goods in groups

І. General provisions

1.1. These Licensed conditions 4 and 7 parts one of article 28 of the Law of Ukraine "About financial services and state regulation of the markets of financial services", item 4 of Final provisions of the Law of Ukraine of June 02, 2011 No. 3462-VI "About introduction of amendments to some laws of Ukraine concerning regulation of the markets of financial services", Regulations on the National commission which performs state regulation in the field of the markets of financial services, the approved Presidential decree of Ukraine of November 23, 2011 No. 1070, and Regulations on entering of information of rather finance companies into the State register of financial institutions and establishment of requirements to the accounting and registering system of finance companies are developed according to Items 1, of 3,, the approved order of State commission on regulation of the markets of financial services of Ukraine of December 05, 2003 No. 152, registered in the Ministry of Justice of Ukraine on December 29, 2003 for No. 1252/8573 (with changes), and also for the purpose of ensuring state regulation and supervision of activities for administration of financial assets for purchase of goods in groups.

1.2. In these Licensed conditions the stated below terms are used in such values:

administration of financial assets for purchase of goods in group - the financial service which is provided by the licensee and provides attraction of money of participants of group, consolidation of these means for the purpose of acquisition and distribution of goods between participants of group;

the separate division of the applicant (licensee) (daleeobosoblenny division) is branch (department) or representation which is out of the location of the applicant (licensee) and performs everything or part of its functions concerning conducting activities for administration of financial assets for purchase of goods in groups;

group - in advance determined number of participants whose periodical payments unite the licensee for purchase of goods to each her participant;

the service provision agreement for purchase of goods in group (further - the agreement on administration) - the agreement signed in writing under which one party (licensee) for remuneration shall provide acquisition of certain goods to the second party (the participant of group) at the expense of the integrated periodical payments of participants of group and the second party shall pay current price of these goods by introduction of periodical payments for administration of financial assets and remuneration to the licensee;

the applicant - the legal entity submitting the application for licensing, renewal of the license, issue of the duplicate of the license, cancellation of the license;

the licensee - financial institution which obtained the license for conducting activities for administration of financial assets for purchase of goods in groups;

the license - the document of the established sample certifying the right of the licensee to carry out activities for administration of financial assets for purchase of goods in groups during certain term on condition of observance of these Licensed conditions by it;

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