DECISION OF THE NATIONAL COMMISSION ON SECURITIES AND STOCK MARKET OF UKRAINE

of November 25, 2014 No. 1575

About modification of the Regulations on implementation of depository activity

According to Item 13 of article 8 of the Law of Ukraine "About state regulation of the security market in Ukraine", to the Law of Ukraine "About depositary system of Ukraine", for the purpose of enhancement of regulation of implementation of depository activity the National commission on securities and the stock market SOLVED:

1. Approve Changes in the Regulations on implementation of depository activity approved by the decision of the National commission on securities and the stock market of April 23, 2013 No. 735, registered in the Ministry of Justice of Ukraine on June 27, 2013 for No. 1084/23616 (further - Changes) which are applied.

2. To depository institutions in which before entry into force of this decision accounts in securities on which securities which are in utility property (except the accounts opened based on the contract with the issuer on opening/servicing of accounts in securities of owners) within one year from the date of entry into force of this decision to perform actions for reduction of accounting of the rights to these securities in compliance with requirements of the Provision taking into account the changes approved by this decision are considered were opened.

3. To Central Securities Depository, depository institutions to bring the internal documents into accord with requirements of this decision no later than six months from the date of entry into force of this decision.

4. To provide to department of regulation of depository and clearing activity (I. Kurochkin) submission of this decision on state registration in the Ministry of Justice of Ukraine.

5. (A. Zbarazhskaya) to provide to management of internal audit and communications publication of this decision in the official printing publication of the National commission on securities and the stock market.

6. This decision becomes effective from the date of its official publication.

7. Control over the implementation of this decision to assign to the member of the National commission on securities and the stock market A. Tarasenko.

Approved by the Decision of the National commission on securities and the stock market of November 25, 2014 No. 1575

Changes in Regulations on implementation of depository activity

1. In the Section I:

1) in Item 2:

in paragraph one to replace the word of "Procedure" with the word "Provision";

third to state the paragraph in the following edition:

"Unconditional transaction on management of the account in securities - write-off, transfer or transfer of securities, rights to securities on the account in securities of the client of the Central depositary, the owner of securities, the notary on whose deposit securities, without its order are enlisted when carrying out transactions by the issuer with securities (in cases, stipulated by the legislation), and also in connection with capacity to act change (legal incapacity or recognition of person incapacitated), as a result of transfer of securities in inheritance and in other cases, stipulated by the legislation Ukraine;";

the eleventh to state the paragraph in the following edition:

"Managing the account in securities (further - managing the account) - the status which in depository institution acquires person to whom the depositor confers powers on management of its account in securities or the authorized person of Fund of guaranteeing household deposits (further - Fund) in the cases and procedure established by the legislation or in the Central depositary - the legal entity to whom the issuer confers powers on management of its account in securities or the subject of management of objects of the state property / utility property which according to the legislation of Ukraine performs functions on management of the securities which are objects of the state property / utility property, the amount of powers managing the account is established by the relevant agreement or according to acts of the civil legislation;";

add Item after the paragraph of the thirteenth with the new paragraph of the following content:

"The nonresident - the physical person who is citizen of other state, the foreign legal entity created according to the legislation of other state;".

With respect thereto the fourteenth - the twenty second to consider paragraphs respectively paragraphs the fifteenth - twenty third;

add Item after the paragraph of the twenty first with the new paragraph of the following content:

"Resident - the physical person who is the citizen of Ukraine, the legal entity formed and performing the activities for the legislation of Ukraine;".

With respect thereto paragraphs twenty second, twenty third to consider respectively paragraphs the twenty third, twenty fourth;

2) to add the Section after Item 2 with new Item of the following content:

"3. Documents (their copy) which according to this Provision are filed to the Central depositary, depository institution and shall be certified by seal (seals), require such certificate in the presence of the corresponding seal (seals). The procedure for representation to the Central depositary by clients of documents (their copies) is determined by Rules of the Central depositary. The fact of lack of seal is confirmed by the written instrument issued and signed person who according to constituent documents has the right to act on behalf of the legal entity without power of attorney, or its authorized person which is the manager of the account. In case of receipt of such document all documents provided by the depositor, the client managing the account in securities are not certified by seal.

In case of absence at legal resident person of seal the card with specimen signatures of managers of the account in securities is signed in the presence of the employee of depository institution according to the procedure, established by this Provision, or makes sure notarially.".

With respect thereto to consider Item 3 item 4.

2. In Item 2 of the Section II of the word" (except finance bills)" to exclude.

3. In the Section III:

Paragraph two of Item 1 to state 1) in the following edition:

"Depositary accounting of securities - the generalized accounting of securities and restrictions of the rights to securities on accounts in securities of clients;";

Item 4 to state 2) in the following edition:

"4. Administrative transactions - depository operations on opening of accounts in securities, modification of the questionnaire of the account, closing of accounts in securities and other transactions which consequence the changes in system of depositary accounting which are not connected with change of remaining balance of securities, rights to securities on accounts in securities are.";

The paragraph the fifth Item 18 to replace 3) with three new paragraphs of the following content:

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info