Document from CIS Legislation database © 2003-2018 SojuzPravoInform LLC

PRESIDENTIAL DECREE OF THE REPUBLIC OF BELARUS

of May 8, 2018 No. 163

About the Chinese-Belarusian investment fund

For the purpose of attraction of foreign investments to the Republic of Belarus and development of investment cooperation with People's Republic of China:

1. Determine that:

1.1. founders of Managing Company of the Chinese-Belarusian Investment Fund Ltd (further - Managing company) with authorized fund in the amount of 1 million US dollars are:

JSC Belarusbank Savings Bank (further - the Belarusian founder) from shares of 40 percent of common (ordinary) shares of Managing company;

company "CITIC CONSTRUCTION Co., Ltd.", People's Republic of China (further - the foreign founder), from shares of 60 percent of common (ordinary) shares of Managing company;

1.2. for the purpose of financing and (or) other participation in realization in the territory of the Republic of Belarus of investment projects JSC Chinese-Belarusian Investment Fund (further - the Investment fund) which founder is the Managing company is created;

1.3. The investment fund and Managing company are not professional participants of the security market, and also joint-stock investment fund and management company of joint-stock investment fund respectively.

At the same time Investment fund and Managing company:

are recognized persons performing financial transactions and are equated to professional participants of the security market for the purpose of implementation of requirements of the legislation in the sphere of prevention of legalization of income gained in the criminal way, financings of terrorist activities and financing of distribution of weapons of mass destruction;

represent to the republican state body performing state regulation of the security market, information on the registered transactions and other information which the professional participant of the security market, according to the procedure and the terms established by this body shall represent to this body;

1.4. The investment fund is subject to liquidation after ten years from the date of its state registration if the supervisory board of Managing company the majority (at least three quarters) of voices does not make the decision on continuation of activities of the Investment fund;

1.5. founders of Managing company provide accomplishment of the established procedures necessary for liquidation of Managing company, within twelve months from the date of completion of liquidation of the Investment fund;

1.6. authorized capitals of Managing company and Investment fund appear in Belarusian rubles and US dollars and are created at the expense of deposits of participants in US dollars;

1.7. Investment fund of the special permission (license) or passing of the state accreditation having the right without obtaining:

acquire shares (share in authorized funds) and (or) the bonds emitted by the legal entities of the Republic of Belarus enabling financing and (or) the realization of investment projects (further - customers), in Belarusian rubles or foreign currency. Decisions according to the order and management of shares (shares in authorized funds) of customers acquired by the Investment fund are accepted by Managing company;

attract from nonresidents of the Republic of Belarus (including the foreign founder), Managing company and the Belarusian founder money to financing of investment projects of customers by securities placement * own issue in the Republic of Belarus and beyond its limits, including with use of foreign depositary receipts. Placement of shares of own issue by Investment fund can be performed including by the closed subscription among the group of people determined by Managing company;

______________________________

* Common and preferred shares, bonds nominated in Belarusian rubles or foreign currency.

emit preferred shares of several types without restrictions, stipulated by the legislation the Republic of Belarus concerning share of preferred shares in the total amount of authorized capital of joint-stock company;

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