of June 25, 2012 No. 11181/6/15-1415
About consideration of the letter
The State Tax Service of Ukraine considered the letter concerning equating of nominal cost of registered target bonds with the regular price and reports.
By article 4 of the Law of Ukraine "About investing activities" it is determined that investment and financing of construction of facilities of housing construction with use of the non-state means attracted from physical persons and legal entities including in management, can be performed only through funds of financing of construction, funds of real estate transactions, institutes of joint investment, and also by issue of target bonds of the companies, accomplishment of obligations on which is performed by transfer of object (part of object) of housing construction.
According to Art. 3 of the Law of Ukraine "About securities and the stock market" (further - the Law) target bonds - bonds, accomplishment of obligations on which is performed by transfer of goods and/or provision of services according to the requirements established by conditions of placement of such bonds and also by payment of means to the owner of such bonds in the cases and procedure provided by the prospectus of the issue of bonds.
The prospectus of the issue of securities - the document which contains information on placement of securities and other data provided by it and other laws which determine features of placement of certain types of securities (item 1 of Art. 7 of the Law).
Repayment of target bonds is performed by transfer of goods and/or provision of services, and also payment of means to the owner of such bonds in the cases and procedure provided by the prospectus of the issue of bonds (item 5 of Art. 7 of the Law).
The funds raised from issue of target bonds of the companies are used on the purposes determined by the prospectus of the issue of such bonds (item 5 of Art. 8 of the Law).
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