LAW OF UKRAINE

of September 17, 2015 No. 701-VIII

About introduction of amendments to the Law of Ukraine "About securities and the stock market" rather state derivatives on restructuring of the state and guaranteed by the state debt and its write-off

The Verkhovna Rada of Ukraine decides:

I. Introduce in the Law of Ukraine "About securities and the stock market" (Sheets of the Verkhovna Rada of Ukraine, 2006, No. 31, Art. 268 with subsequent changes) the following changes:

1. Add Article 3 with part six of the following content:

"6. The state can place in the international stock markets of the bond of external state loans of Ukraine and the state derivatives".

2. Add Article 5-2 with part six of the following content:

"6. Provisions of this Article are not applied to bonds of external state loans of Ukraine and the state derivatives placed in the international stock markets".

3. The fourteenth Article 10 to state part in the following edition:

"14. Payment of the income and repayment of government bonds of Ukraine is performed by money or in other form by agreement of the parties".

4. Add with Article 15-1 of the following content:

"Article 15-1. State derivative

1. The state derivative - the security which is placed the state in the international stock markets and confirms the obligation of Ukraine in accordance with the terms of placement of this security to perform payments to the owner of this security in case of achievement of certain indicators of gross domestic product of Ukraine, and also to perform other payments.

2. Issue of the state derivatives is part of budget process and is not subject to regulation by the National commission on securities and the stock market.

3. The solution on placement of the state derivatives and condition of their placement is accepted according to the Budget code of Ukraine and the laws of Ukraine".

5. The paragraph one of part two of Article 37 to add with the words "and the state derivatives which are placed without such permission".

II. Final provisions

1. This Law becomes effective from the date of, its publication following behind day.

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