LAW OF UKRAINE

of June 18, 2015 No. 541-VIII

About modification of some legal acts of Ukraine concerning development of institutional capability of the National Bank of Ukraine

The Verkhovna Rada of Ukraine decides:

I. Make changes in such legal acts of Ukraine:

1. Article 67 of the Economic Procedure Code of Ukraine (1992, No. 6, the Art. 56) after part four to add sheets of the Verkhovna Rada of Ukraine with new part of such content:

"Providing the claim by suspension of decisions, acts of the National Bank of Ukraine is not allowed, and also establishment for the National Bank of Ukraine prohibitions or obligations to make certain actions".

With respect thereto the fifth - the eighth to consider parts respectively parts six - the ninth.

2. Article 152 of the Code of civil procedure of Ukraine (2004, No. No. 40-42, of the Art. 492) to add sheets of the Verkhovna Rada of Ukraine with part seven of such content:

"7. Providing the claim by suspension of decisions, acts of the National Bank of Ukraine is not allowed, and also establishment for the National Bank of Ukraine of prohibition or obligation to make certain actions".

3. Item 4 of part five of article 117 of the Code of administrative legal proceedings of Ukraine (2005, 446) to state data of the Verkhovna Rada of Ukraine to No. No. 35-37, of the Art. in such edition:

"4) suspension of decisions of the National Bank of Ukraine, acts of the National Bank of Ukraine, and also establishment for the National Bank of Ukraine of prohibition or obligation to make certain actions".

4. In the Law of Ukraine "About the National Bank of Ukraine" (Data of the Verkhovna Rada of Ukraine, 1999, No. 29, Art. 238 with subsequent changes):

1) in Article 1:

a) add with determination of terms of such content (in alphabetical order):

"international standards of professional practice of internal audit - accepted by Council for International Standards of internal audit, approved by the Supervisory Board of Professional Practice";

"financial stability - condition of financial system in which it is capable to provide properly opportunity effectively to perform the key functions, such as financial intermediation and ensuring implementation of payments, and thus to promote sustained economic growth, and also to resist to negative impact of the crisis phenomena on economy";

b) to state determination of the term "official publication of the National Bank of Ukraine" in such edition:

"the official publication of the National Bank of Ukraine - the printing edition of National Bank registered in accordance with the established procedure";

c) in determination of the term of "refunding rate of the National Bank of Ukraine" "commercial" to exclude the word;

d) state the last paragraph in the following edition:

"The terms "associated person", "goodwill", "essential participation" are understood in the value determined by the Law of Ukraine "About banks and banking activity";

2) in part three of Article 3 of the word "income of its estimate" shall be replaced with words "part of its profit to distribution";

3) in Article 4:

a) to add part one after the word "estimates" with words of "administrative expenses";

b) in part two of the word "being under its complete economic authority" shall be replaced with words "it is assigned to it on the right of economic maintaining";

4) in Article 5:

a) state the name in the following edition:

"Article 5. Estimate of administrative expenses";

b) in part one of the word "profit and loss budget" shall be replaced with words "the estimate of administrative expenses";

c) the second to state part in the following edition:

"The National Bank of Ukraine includes in estimates of administrative expenses the predicted expenses, including the depreciation charges, reserves under depreciation of assets, investments aimed at providing activities of the National Bank of Ukraine, and also renumeration expenses to members of council of National Bank for execution of the functions by them with disaggregation of the size, positions and frequency of their payments";

d) the fourth to add part with the words "which are source of investment financing, aimed at providing activities of National Bank";

5) in Article 5-1:

a) the fifth to replace part with two parts of such content:

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