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RESOLUTION OF THE MINISTRY OF FINANCE OF THE REPUBLIC OF BELARUS

of May 4, 2018 No. 32

About approval of the Instruction about procedure for recognition of issue of issued securities unfair, and release (additional release) of issued securities invalid, suspensions or prohibitions of issue of issued securities

Based on the paragraph of the seventeenth of part one of article 8 of the Law of the Republic of Belarus of January 5, 2015 "About the security market", Item 10 of the Regulations on the Ministry of Finance of the Republic of Belarus approved by the resolution of Council of Ministers of the Republic of Belarus of October 31, 2001 No. 1585 "Questions of the Ministry of Finance of the Republic of Belarus", the Ministry of Finance of the Republic of Belarus DECIDES:

1. Approve the enclosed Instruction about procedure for recognition of issue of issued securities unfair, and release (additional release) of issued securities invalid, suspensions or prohibitions of issue of issued securities.

2. This resolution becomes effective in three months after its official publication.

Minister

V. V. Amarin

Approved by the Resolution of the Ministry of Finance of the Republic of Belarus of May 4, 2018 No. 32

The instruction about procedure for recognition of issue of issued securities unfair, and release (additional release) of issued securities invalid, suspensions or prohibitions of issue of issued securities

1. This Instruction determines procedure for recognition of issue of issued securities unfair, and release (additional release) of issued securities invalid, procedure for suspension or prohibition of issue of issued securities.

2. Issue of issued securities is recognized unfair, and release (additional release) of issued securities invalid in the presence of the bases provided by part one of article 20 of the Law of the Republic of Belarus of January 5, 2015 "About the security market" (The national legal Internet portal of the Republic of Belarus, 10.01. 2015, 2/2229), and also in other cases established by legal acts of the Republic of Belarus.

Recognition of issue of issued securities unfair, and release (additional release) of issued securities invalid is the basis for suspension or prohibition of issue of issued securities.

Recognition of issue of issued securities unfair, and release (additional release) of issued securities invalid, suspension or prohibition of issue of issued securities are performed by the Ministry of Finance of the Republic of Belarus (further - the Ministry of Finance) no later than one year from start date of placement of issued securities if other term is not established by the President of the Republic of Belarus.

3. In day of decision making about recognition of issue of issued securities unfair, and release (additional release) of issued securities invalid, suspension or prohibition of issue of issued securities the Ministry of Finance or if other is not established by legal acts of the Republic of Belarus, the Department on securities of the Ministry of Finance of the Republic of Belarus (further - Department on securities) stops making and (or) execution of transactions with issued securities in trade system of the organizer of the securities trading and (or) the circulation of issued securities in the unorganized market by pronouncement of the instruction about suspension of the biddings by certain issue of securities or all securities of the issuer or about suspension of security circulation of certain release or all securities of the issuer according to the procedure, established by the Instruction about procedure for suspension of making and (or) execution of security transactions in trade system of the organizer of the securities trading and (or) security circulation in the unorganized market and procedure for the issue of instructions about imposing (removal) of restrictions on the order with securities approved by the resolution of the Ministry of Finance of the Republic of Belarus of April 5, 2016 No. 19 (The national legal Internet portal of the Republic of Belarus, 23.06. 2016, 8/31015).

4. The Ministry of Finance makes the decision on suspension of issue of issued securities in case of identification of the violations of the procedure for issue of issued securities established by the legislation of the Republic of Belarus allowed by the issuer.

Issue of issued securities stops within the term of placement of issued securities before elimination by the issuer of the violations which entailed suspension of issue of issued securities, in time, established by the Ministry of Finance. Issue of issued securities stops from the date specified in the decision on suspension of issue of issued securities.

5. In day of decision making about suspension of issue of issued securities the Ministry of Finance in writing notifies the issuer on suspension of issue of issued securities, and in case of suspension of issue of exchange bonds as well the stock exchange which registered release of exchange bonds.

The notification on suspension of issue of issued securities shall contain:

the name of the body which made the decision on suspension of issue of issued securities;

decision date about suspension of issue of issued securities;

full name and location of the issuer of issued securities;

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

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