LAW OF UKRAINE

of November 15, 2016 No. 1736-VIII

About introduction of amendments to some laws of Ukraine concerning compensation to physical persons through system of guaranteeing household deposits of the damage caused by abuses in the field of banking and other financial services

The Verkhovna Rada of Ukraine decides:

I. Make changes to the following laws of Ukraine:

1. In the Law of Ukraine "About banks and banking activity" (Sheets of the Verkhovna Rada of Ukraine, 2001, No. 5-6, of Art. 30; 2009, No. 15, Art. 190; 2015, No. 43, Art. 386):

Article 48 to add 1) with part six of the following content:

"Banks are forbidden to perform without reflection in obligations and assets of bank of transaction by attraction of financial resources of physical persons for the purpose of their direct placement in the credits";

Article 55 to add 2) with part five of the following content:

"In case of accomplishment by bank of functions of the attorney, the agent, other representative or the intermediary in attraction of financial resources of physical persons for benefit of the third parties (including non-bank financial institutions) the bank shall acquaint previously in writing physical persons that such means are not bank deposit of physical person to which the guarantees established by the Law of Ukraine "About system of guaranteeing household deposits" extend.

2. In the Law of Ukraine "About financial services and state regulation of the markets of financial services" (Sheets of the Verkhovna Rada of Ukraine, 2002, No. 1, the Art. 1):

2 parts one of Article 1 the word of "law" shall be replaced with words 1) in Item "the law on activities of the relevant financial institution";

Part the second Article 5 to add 2) with the paragraph the second the following content:

"Financial institutions are forbidden to raise funds of physical persons (except members of such organization) with the obligation of their return, including by receipt of loan if it is directly not provided by the law on activities of the relevant financial institution".

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