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Ministry of Justice of Ukraine

September 17, 2012

No. 1590/21902

RESOLUTION OF BOARD OF THE NATIONAL BANK OF UKRAINE

of August 17, 2012 No. 346

About approval of the Regulations on application of corrective actions by the National Bank of Ukraine

(The last edition from 06-12-2018)

According to article 56 of the Law of Ukraine "About the National Bank of Ukraine", article 74 of the Law of Ukraine "About banks and banking activity" and for the purpose of increase in efficiency and providing the proper organization of implementation of the liquidating procedure of the Board of the National Bank of Ukraine DECIDES: banks

1. Approve Regulations on application of corrective actions by the National Bank of Ukraine which are applied.

2. Recognize invalid regulatory legal acts of the National Bank of Ukraine according to the list which is attached.

3. The liquidation procedure of bank begun to the introduction in operation of the Law of Ukraine "About system of guaranteeing household deposits" comes to the end according to the procedure established by the legislation which was effective to the introduction in operation of this Law.

4. (Novikov V. V.) to submit to department of normative and methodological ensuring bank regulation and supervision (Ivanenko N. V.), Legal department this resolution on state registration to the Ministry of Justice of Ukraine.

5. To department of normative and methodological ensuring bank regulation and supervision (Ivanenko N. V.) after state registration in the Ministry of Justice of Ukraine to report contents of this resolution to structural divisions of central office, territorial administrations of the National Bank of Ukraine, and also liquidators of banks for use in work.

6. The resolution becomes effective from 22:09. 2012, but not earlier than day of its official publication.

7. To impose control over the implementation of this resolution on the vice-chairman of the National Bank of Ukraine Sorkin I. V.

Acting Chairman

I. V. Sorkin

Approved by the Resolution of Board of the National Bank of Ukraine of August 17, 2012 No. 346

Regulations on application of corrective actions by the National Bank of Ukraine

I. General provisions

1. Basic provisions

1.1. This Provision is developed according to the Laws of Ukraine "About the National Bank of Ukraine", "About banks and banking activity" (further - the Law on banks), "About prevention and counteraction of legalization (washing) of income gained in the criminal way, to financing of terrorism and financing of distribution of weapons of mass destruction" (further - the Law on prevention of legalization), the Law of Ukraine "About currency and currency transactions" (further - the Law on currency), the legislation of Ukraine on economic societies, other legal acts of Ukraine and regulatory legal acts of the National Bank of Ukraine (further - National Bank).

1.2. This Provision determines the bases and procedure for introduction by National Bank of specific mode of control of activities of banks and branches of foreign banks, application of corrective actions, financial sanctions for violation by banks, branches of foreign banks and other persons who are covered by supervising activities of National Bank, the bank, foreign exchange legislation, regulatory legal acts of National Bank, the legislation in the sphere of prevention and counteraction of legalization (washing) of income gained in the criminal way or to terrorism financing, namely: The law on prevention of legalization, the Law on banks regarding prevention and counteraction of legalization (washing) of income gained in the criminal way, to financing of terrorism and financing of distribution of weapons of mass destruction, the regulatory legal acts of National Bank regulating activities of banks in the sphere of prevention and counteraction of legalization (washing) of income gained in the criminal way, to financing of terrorism and financing of distribution of weapons of mass destruction (further - the legislation concerning financial monitoring), or implementation of risk activities which threaten interests of investors or other creditors of bank, and also in case of application with foreign states or interstate associations or the international organizations of sanctions against banks or owners of essential participation in banks, which pose threat to interests of investors or other creditors of bank and/or banking system stability (further - application of foreign sanctions).

1.3. Terms which are used in this Provision are used in such values:

application by foreign states or interstate associations, or the international organizations of sanctions against banks or owners of essential participation in the banks posing threat to interests of investors or other creditors of bank and/or banking system stability (further - application of foreign sanctions), - the acceptance fact foreign state, interstate consolidation or the international organization of the decision on application to bank or the owner(s) of essential participation in bank of sanctions;

the transactions performed by bank - are actions or events during provision of banking and other financial services, implementation of other activities owing to which there are changes in financial condition of bank which are displayed on balance sheet or off-balance bank accounts;

the stop of transactions - temporary, for certain term, prohibition to bank to perform separate transaction types;

restriction of transactions - temporary, for certain term, prohibition to bank to perform separate transaction types taking into account the set restrictions on type/amount/amount/circle to clients/region;

the termination of transactions - termless prohibition of implementation by bank of separate transaction types;

the authorized officer of National Bank - the official of National Bank who has right to sign of documents on behalf of National Bank according to the legislation of Ukraine or regulatory legal acts of National Bank, or the ordering documents of National Bank or the power of attorney.

Other terms which are used in this Provision are used in the values determined in the Law on banks and other legal acts of Ukraine and regulatory legal acts of National Bank.

2. Corrective actions which are applied by National Bank

2.1. The National Bank applies to banks of corrective action, the stipulated in Article 73 Laws on banks.

2.2. The National Bank for violations in activities of separate division of bank applies corrective actions directly to bank - the legal entity (except for temporary discharge of the official of separate division of bank from position).

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