of March 23, 2017 No. 1985-VIII
About simplification of procedures of reorganization and capitalization of banks
This Law is aimed at providing banking system stability by optimization of procedures of reorganization and capitalization of banks.
1. The bank or banks (further together or separately - Bank which joins) has the right to perform reorganization by accession to other bank (further - bank legal successor, and together Bank which joins and Bank legal successor - Participating banks) on the simplified procedure determined by this Law and regulatory legal acts of the National Bank of Ukraine and National commission on securities and the stock market.
Participating banks shall provide to the National Bank of Ukraine the draft of the plan of reorganization by accession (further - the draft of the Plan of reorganization) approved by the supervisory boards of each Participating bank.
The draft of the Plan of reorganization shall conform to the requirements established by regulatory legal acts of the National Bank of Ukraine to the Plan of reorganization and shall provide procedure for accession of Bank which joins, to Bank legal successor, the main conditions of accession, procedure of converting of shares (if necessary), procedure for transfer of assets and obligations and determination of their cost, and also other provisions necessary for implementation of reorganization taking into account the features established by this Law.
If the Bank which joins performs professional activity in the capital markets, the National Bank of Ukraine notifies the National commission on securities and the stock market on intention of such bank to perform reorganization by accession within seven working days from the date of provision of pre-trial detention about approval of the draft of the Plan of reorganization.
Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info
Database include more 50000 documents. You can find needed documents using search system. For effective work you can mix any on documents parameters: country, documents type, date range, teams or tags.
More about search system
If you cannot find the required document, or you do not know where to begin, go to Help section.
In this section, we’ve tried to describe in detail the features and capabilities of the system, as well as the most effective techniques for working with the database.
You also may open the section Frequently asked questions. This section provides answers to questions set by users.