DECISION of EXECUTIVE DIRECTORATE of FUND of GUARANTEEING HOUSEHOLD DEPOSITS of Ukraine

of September 11, 2014 No. 89

About approval of Changes to Regulations on conclusion of insolvent bank from the market

According to Item "About system of guaranteeing household deposits" and in pursuance of Item 5 of the Section II "Final and transitional provisions" of the Law of Ukraine of July 4, 2014 No. 1586-VII "About modification of some legal acts of Ukraine on prevention of negative impact on banking system stability" the executive directorate of Fund of guaranteeing household deposits SOLVED 10 parts one of article 12 of the Law of Ukraine:

1. Approve Changes in the Regulations on conclusion of insolvent bank from the market approved by the decision of executive directorate of Fund of guaranteeing household deposits of July 5, 2012 No. 2, registered in the Ministry of Justice of Ukraine on September 14, 2012 for No. 1581/21893, which are applied.

2. To provide to department of strategy and normative and methodological providing together with legal service submission of this decision to the Ministry of Justice of Ukraine for state registration.

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

4. And the international organizations to provide to department of public relations placement of this decision on the official page of Fund of guaranteeing household deposits on the Internet after its state registration.

Approved by the Decision of executive directorate of Fund of guaranteeing household deposits of Ukraine of September 11, 2014 No. 89

Changes in Regulations on conclusion of insolvent bank from the market

1. In Item 2.1 of Chapter 2 of the Section I:

Paragraph two to state 1) in the following edition:

"Conclusion of insolvent bank from the market - actions which are performed by Fund concerning the bank referred to category insolvent for conclusion from the market by one of the methods determined by article 39 of this Law;";

2) to add Item after the paragraph of the fourth with the new paragraph the fifth the following content:

"Goodwill - the data collected by Fund on compliance of activities of legal entity or physical person, including heads of the legal entity and owners of essential participation in it legal person, to requirements of the law, business practice and professional ethics, and also data on decency, professional and managerial skills of physical person;".

With respect thereto the fifth - the thirty seventh to consider paragraphs respectively paragraphs the sixth - the thirty eighth;

The paragraph the fourteenth to exclude 3).

With respect thereto the fifteenth - the thirty eighth to consider paragraphs respectively paragraphs the fourteenth - the thirty seventh;

The fourteenth words "the nominal owner and the managing director of shares" shall be replaced with words 4) in the paragraph "the single shareholder";

The twenty ninth words of "controlling stock (shares)" to exclude 5) in the paragraph;

The paragraph of the thirty sixth to state 6) in the following edition:

"Specialized agency - the legal entity created by Fund for the purpose of transfer of assets and liabilities of insolvent bank to it in the cases and procedure determined by this Law;";

The paragraph of the thirty seventh to exclude 7).

2. In the Section II:

1) in Item 1.5 of Chapter 1 the word "allocations" to replace with the word "transfer" and to exclude the words "with their transfer";

2) to add Item 2.3 of Chapter 2 after the paragraph of the fourth with the new paragraph the fifth the following content:

"Carrying out unscheduled inspection for the purpose of information collection on other questions of activities, than provided in part one of article 32 of the Law which list affirms executive directorate of Fund.".

With respect thereto the fifth to consider the paragraph the paragraph the sixth;

3) in Chapter 3:

state Item 3.2 in the following edition:

"3.2. The temporary administration is entered for the term which is not exceeding three months, and for systemically important banks - six months. On the reasonable bases the specified terms can be once prolonged for a period of up to one month.";

in paragraph three of Item 3.6 of the word "Ministry of the Income and Charges of Ukraine" shall be replaced with words "The public fiscal service of Ukraine";

Item 3.9 in paragraph three to replace the word "and" with the word "or";

state Item 3.10 in the following edition:

"3.10. Information on introduction shall contain in insolvent bank of temporary administration:

name, date and number of the decision of executive directorate of Fund on introduction of temporary administration and appointment of the authorized person of Fund;

date and number of the decision of the NBU on reference of bank to category of insolvent;

the name and details of insolvent bank in which the temporary administration is entered;

surname, name, middle name of the authorized person of Fund on temporary administration;

the term for which the temporary administration is entered.";

4) in Chapter 4:

in Item 4.3 of the word of "close relatives" shall be replaced with words "the wife (husband), the father, mother, children, brothers and sisters";

state Item 4.12 in the following edition:

"4.12. In case of accomplishment of the obligations the authorized person of Fund has the right to temporary administration:

make any actions and make the decisions relating to powers of governing bodies and control facilities of bank;

sign from bank name any agreements (to make the transactions) necessary for ensuring operating activiies of bank, implementation of banking and other economic activities by them, taking into account the requirements established by the Law;

continue, limit or stop implementation of any transactions by bank;

report the parties under the agreements specified in part two of article 38 of the Law on negligibility of these agreements and make actions for application of effects of negligibility of agreements;

declare from bank name claims of property and non-property nature in court, including claims for decision according to which the debtor of bank shall provide information on the assets;

file in law enforcement agencies petition for making of criminal offense in case of identification of the facts of fraud and other illegal actions of employees of bank or other persons concerning bank;

involve in the course of implementation of temporary administration for bank account based on civil agreements of other persons (advisers, auditors, lawyers, appraisers and others) within the expense budget approved by executive directorate of Fund. Such agreements can be terminated unilaterally in day of the message by the authorized person of Fund to other party about such termination with the effects established by the civil legislation;

appoint carrying out audit inspections and legal examinations concerning activities of bank for bank account within the expense budget approved by executive directorate of Fund;

employ, discharge from office or transfer to other position of any of heads or employees of bank, to review their service duties, to change the amount of payment of their work with observance of requirements of the legislation of Ukraine on work;

stop capital allocation of bank or dividend payout in any form;

dispose of shares (shares) of bank on behalf of any person who is the member of bank without the need for additional registration of powers on sale of shares (shares) from the date of approval of the settlement plan providing sale of insolvent bank to the investor;

make the actions directed to accomplishment of the settlement plan according to the Law, this Provision and other regulatory legal acts of Fund.";

to exclude paragraph two of Item 4.15;

in Item 4.16 of the word of "consultants, experts or other specialists in case of conclusion of insolvent bank from the market" shall be replaced with words "advisers, auditors, lawyers and other persons to work in the course of implementation of temporary administration";

add Item 4.17 with the new paragraph of the following content:

"After the conclusion and other persons of services this authorized person of Fund in time no later than two working days shall notify by the authorized person of Fund on temporary administration of the agreement on provision by advisers, auditors, lawyers, subjects of estimative activities Fund on the fact of the conclusion of such agreement.".

3. In the Section III:

1) in Chapter 1:

in Item 1.2 of the word of "one day after appointment of the authorized person of Fund" shall be replaced with words also in figures "15 days, but no later than the terms established by the authorized person of Fund";

state Item 1.6 in the following edition:

"1.6. By fund is subject to life insurance and health of the authorized person of Fund in its interests.";

add Item 1.11 with the new paragraph of the following content:

"The authorized person of Fund can employ the bank employees necessary for accomplishment of specific objectives if such tasks cannot be carried out by the available employees of bank or the involved advisers, auditors, lawyers, appraisers, etc., within the expense budget approved by executive directorate of Fund";

in Item 1.15:

the fourth to state the paragraph in the following edition:

"Charge of penalty (penalties, penalty fee), other financial (economic) sanctions for non-execution or improper execution of obligations to creditors and obligations on tax payment and charges (obligatory payments), and also obligations to creditors, including is not applied the inflation index for all the time of delay of execution of monetary commitments of bank;";

add Item with the paragraph of the following content:

"Charge of percent on obligations of bank to creditors.";

state Item 1.16 in the following edition:

"1.16. The restrictions set by the paragraph the second Item 1.15 of this Chapter do not extend to obligations of bank relatively:

payments of means for deposits of investors for agreements which term expired, and on bank account agreements of investors. The specified payments are performed within compensation amount which is guaranteed by Fund, in national currency of Ukraine. Foreign currency deposits are converted into national currency of Ukraine on the official rate of hryvnia established by the NBU to foreign currencies on the date of the beginning of the procedure of conclusion Fund of bank from the market and implementation of temporary administration according to this Article;

payments of regular collection in Fund;

the expenses connected with ensuring its economic activity in compliance to happiness of the fourth article 36 of the Law;

salary payments, award, the indemnification caused to life and health of employees of bank;

payments of the alimony, pensions, grants, other social, state payments, the indemnification caused by mutilation, damage of health or death, and so forth;

implementation of transactions on money transfer of the physical persons and legal entities which arrived into their accounts since next day after introduction of the procedure of temporary administration;

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