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RESOLUTION OF BOARD OF THE NATIONAL BANK OF UKRAINE

of August 17, 2017 No. 80

About approval of the Regulations on licensing procedure on money transfer in national currency without opening of accounts

(as amended on 24-12-2020)

According to Articles 7, of 15, 56 Laws of Ukraine "About the National Bank of Ukraine", article 21 of the Law of Ukraine "About financial services and state regulation of the markets of financial services" and for the purpose of enhancement of procedure for issue by the National Bank of Ukraine to non-bank financial institutions of the license for money transfer in national currency without opening of accounts the Board of the National Bank of Ukraine decides:

1. Approve Regulations on licensing procedure on money transfer in national currency without opening of accounts (further - the Provision) which is applied.

2. Column 3 "The name of services" of service at number 52 of Rates for the services in registration and licensing provided by Natsioanalny bank of Ukraine, No. approved by the resolution of Board of the National Bank of Ukraine of August 12, 2003 333, registered in the Ministry of Justice of Ukraine on September 10, 2003 for No. 787/8108 (in edition of the resolution of Board of the National Bank of Ukraine of June 15, 2017 to No. 53) (with changes) to state in the following edition:

"Consideration of document package about licensing for money transfer in national currency without opening of accounts to non-bank financial institution, and also renewal of the license".

3. To non-bank financial institutions which obtained the license for money transfer in national currency without opening of accounts according to requirements of the Regulations on procedure for issue to non-bank financial institutions of the license for money transfer in national currency without opening of accounts approved by the resolution of Board of the National Bank of Ukraine of February 26, 2013 No. 57, registered in the Ministry of Justice of Ukraine on March 13, 2013 for No. 407/22939 (with changes):

within two months from the effective date of this resolution to provide to the National Bank of Ukraine the questionnaire (appendix 3 to the Provision) and data on the structure of property according to requirements of the Section VI of the Provision. Non-bank financial institutions which have the license for money transfer in national currency without opening of accounts and the general license for implementation of currency transactions, data on the structure of property in connection therewith Item are not given;

within six months from the date of entry into force of this resolution to provide reduction of the activities, structure of property, financial condition and goodwill in compliance with requirements of the Provision and to give to the National Bank of Ukraine written assurance about their compliance to requirements of the Provision.

4. To department of financial controlling (A.V. Strinzha) and to Department of licensing (Bevz A. A.) till December 31, 2017 to bring rates for services in registration and licensing into compliance with requirements of the Provision.

5. Non-bank financial institutions before approval of rate for service in consideration of document package about issue of the duplicate of the license for money transfer in national currency without opening of accounts do not submit the copy of the payment document confirming implementation of payment for this service.

6. Recognize invalid:

1) the resolution of Board of the National Bank of Ukraine of February 26, 2013 No. 57 "About approval of the Regulations on procedure for issue to non-bank financial institutions of the license for money transfer in national currency without opening of accounts", registered in the Ministry of Justice of Ukraine on March 13, 2013 for No. 407/22939;

2) Item 2 of the resolution of Board of the National Bank of Ukraine of February 4, 2014 No. 43 "About approval of the Regulations on order of registration of payment systems, members of payment service providers and operators of services of payment infrastructure", the year registered in the Ministry of Justice of Ukraine on March 5 at No. 348/25125;

3) the subitem 1 of Item 1 and Item 3 of the resolution of Board of the National Bank of Ukraine of July 24, 2015 No. 480 "About modification of some regulatory legal acts of the National Bank of Ukraine";

4) Items 2 and 3 of the resolution of Board of the National Bank of Ukraine of November 25, 2015 No. 815 "About modification of some regulatory legal acts of the National Bank of Ukraine";

5) the resolution of Board of the National Bank of Ukraine of September 1, 2016 No. 379 "About approval of Changes in Regulations on procedure for issue to non-bank financial institutions of the license for money transfer in national currency without opening of accounts".

7. To impose control over the implementation of this resolution on the First Deputy Chairman of the National Bank of Ukraine Smoliya Ya. V. and vice-chairman of the National Bank of Ukraine Rozhkova K. V.

8. The resolution becomes effective from the date of, its official publication following behind day.

Acting as chairman

Ya. V. Smoly

Approved by the Resolution of Board of the National Bank of Ukraine of August 17, 2017 No. 80

Regulations on licensing procedure on money transfer in national currency without opening of accounts

I. General provisions

1. This Provision is drafted according to Item 27 of Article 7, to Articles 15, 56 Laws of Ukraine "About the National Bank of Ukraine", to Articles 10, 42 Laws of Ukraine "About payment systems and money transfer in Ukraine", to Articles 5, of 21, of Item 1 of article 28 of the Law of Ukraine "About financial services and state regulation of the markets of financial services".

2. This Provision determines conditions under which the license for money transfer in national currency without opening of accounts by the National Bank of Ukraine is granted (further - National Bank), licensing procedure, and also the bases on which the National Bank has the right to refuse licensing, to suspend, renew or cancel/cancel it.

3. Requirements of this Provision extend to applicants who intend to become payment institutes and/or members of payment service providers and to provide services in money transfer in national currency without opening of accounts (further - money transfer), and also on non-bank financial institutions and operators of mail service who obtained the license.

4. In this Provision terms are used in such value:

1) day of receipt of the statement for licensing and complete document package (the date of receipt of document package) - registration date in National Bank of the complete document package provided in the Section III of this Provision which contains all information provided by this Provision in which there are no discrepancies between the data stated in documents and/or received from public sources and which conforms to requirements of the legislation of Ukraine and this provision;

2) the State register of financial institutions (further - the Register of financial institutions) - system of obtaining, accumulating, storage, protection, use and distribution of administrative information (data) of financial institution;

3) sources of origin of means for forming own (authorized, additional) the capital, payment of cost of share in the authorized capital (block of shares) of non-bank organization / applicant - the data supported by the documents, their properly verified copies or information from public (open) sources which allow to draw valid conclusion on availability of sufficient financial opportunities at members of non-bank organization / applicant and/or any other person in chain of ownership of corporate laws of non-bank organization / applicant for forming own (authorized, additional) the capital, payment of cost of share in the authorized capital (block of shares) of non-bank organization / applicant;

4) the applicant - the legal entity who according to the legislation of Ukraine has the right to address to National Bank behind receipt of license for activities on provision of financial services in money transfer;

5) essential participation - immediate and/or indirect possession by one person independently or together with other persons 10 and more percent of the authorized capital and/or voting power of shares, shares of the legal entity or possibility of considerable influence, independent of formal ownership, on management or activities of the legal entity. Person is recognized the owner of the mediated essential participation irrespective of whether person exercises it control of the direct owner of participation in the legal entity or control of any other person in chain of ownership of corporate laws of such legal entity;

6) qualified bureau of credit histories - the largest on number of the credit stories of bureau of credit histories which are available in the respective country (other subject as which enter collection processing, storage and use of information which constitutes credit history) which extends the activities to the country in which physical person constantly lives / the head office of the legal entity is registered. If physical person the head office of the legal entity in the territory of Ukraine lives/is constantly registered, then qualified bureaus of credit histories are the First All-Ukrainian bureau of credit histories, the Ukrainian bureau of credit histories and the International bureau of credit histories;

7) the head of licensing - the head of the structural unit of National Bank to which main objectives ensuring realization of functions of National Bank in the sphere of issue of licenses belongs;

8) the applicant's heads / non-bank organization - sole executive body or members of collegiate executive body and members of council (the supervising, supervisory board - in the presence) the applicant / non-bank organization;

9) the final owner of essential participation - physical person, the legal entity in whose structure of property there are no other owners of essential participation in the legal entity determined according to requirements of this provision, the international financial institution, the public company, the state or territorial community on behalf of the relevant state body or local government body;

10) the key member of the legal entity - physical person which owns corporate laws of such legal entity, the legal entity owning two and more percent of corporate laws of such legal entity, at the same time:

if the legal entity has more than 20 participants - physical persons, then key participants are 20 participants - physical persons which shares are the greatest;

if packets of corporate laws of the legal entity, identical by the size, belong to more than 20 participants - physical persons, then key participants are all physical persons owning two and more percent of corporate laws of such legal entity;

11) the controller - physical person or legal entity concerning which there are no controllers - physical persons and which has opportunity to perform decisive influence on management or activities of the legal entity by the direct and/or mediated ownership independently or together with other persons of shares in the legal entity which corresponds to equivalent of 50 or more percent of the authorized capital and/or voices of the legal entity, or irrespective of formal ownership to perform such influence on the basis of the agreement or any other image;

12) control - opportunity to perform decisive influence on management and/or activities of the legal entity by the direct and/or mediated ownership of one person independently or together with other persons of shares in the legal entity which corresponds to equivalent of 50 or more percent of the authorized capital and/or voices of the legal entity, or irrespective of formal ownership opportunity to perform such influence on the basis of the agreement or any other image;

13) chain of ownership of corporate laws of the legal entity - information on the list of key members of the legal entity which includes information on key participants of the first and each following level of proficiency in corporate laws of the legal entity;

14) the license - the license which is granted by National Bank on implementation of activities for provision of financial services in money transfer in national currency without opening of accounts;

15) non-bank organization - the non-bank financial organization or the operator of mail service having the current license;

16) non-bank financial institution - the legal entity who according to the legislation of Ukraine is not bank and is entered in the Register of financial institutions according to the procedure, established by the legislation of Ukraine;

17) the operator of mail service - the legal entity entered in the Unified state register of operators of mail service (further - the Register of operators) according to the procedure, established by the legislation of Ukraine and concerning which in the Register of operators there is information on provision by it of services in postal order, and also the national operator of mail service;

18) final key participants are key participants - physical persons, and also key participants - legal entities who do not incorporate key participants. Final key participants are also the state (on behalf of relevant organ of the government), territorial community (on behalf of relevant organ of local self-government), the international financial institution, and also the public company;

19) the public company - the foreign legal entity created in the form of public joint stock company which shares are included in stock exchange lists (underwent the procedure of listing) and are admitted to trading in regulated segment of qualified stock exchange;

20) the register of faces which are not financial institutions, but have the right to provide separate financial services (further - the Register of faces which are not financial institutions) - system of obtaining, accumulating, storage, protection, use and distribution of administrative information (data) on legal entities - subjects of managing who on the legal status are not financial institutions, but provide financial services;

21) level of proficiency in corporate laws of the legal entity - the relation concerning ownership of corporate laws of the legal entity between such legal entity and his participants. If all members of the legal entity are physical persons, then such legal entity has only one level of proficiency in corporate laws;

22) structural divisions - separate divisions, not isolated structural divisions, Items of provision of financial services, cash desks, objects of mail service of the applicant / non-bank organization in which it is planned to perform / rendering financial service in money transfer is performed;

23) the authorized person of National Bank - the board member of National Bank or person to who powers on adoption of the decisions determined by this Provision are assigned;

24) the member of the legal entity - person who owns corporate laws of the legal entity.

Other terms in this Provision are used in the values given in the Laws of Ukraine "About payment systems and money transfer in Ukraine", "About financial services and state regulation of the markets of financial services", "About mail service" and other legal acts of Ukraine.

5. The decision on licensing or refusal in its issue, and also suspension, renewal, revocation of license is accepted by Board of National Bank, or collegiate organ which is created according to article 15 of the Law of Ukraine "About the National Bank of Ukraine" and to which the Board of National Bank delegates separate powers on regulation of activities and supervision in the markets of non-bank financial services (further - Committee).

The National Bank grants to the applicant the license by entering of record about it into the state Register of financial institutions or the Register of persons which are not financial institutions.

The National Bank in case of decision making about licensing to the operator of mail service enters information on him in the Register of faces which are not financial institutions, along with issue of the license to it.

The license becomes effective from the date of entering into the Register of financial institutions or the Register of persons which are not financial institutions, records about licensing. Effective period of the license is unrestricted.

The non-bank organization has the right to begin rendering services in money transfer from the date of entering into the Register of financial institutions or the Register of persons which are not financial institutions, records about licensing and on condition of participation of non-bank organization in payment system, data on which are entered by National Bank in the Register of payment systems, settlement systems, participants of these systems and operators of services of payment infrastructure.

6. The non-bank organization has no right to transfer the license to the third parties.

7. The applicant shall:

1) to bring payment for consideration of the document package provided for licensing in the amount of, provided by regulatory legal acts of National Bank concerning approval of rates for services (transactions) of National Bank;

2) to provide the copy of the payment document confirming implementation of payment for the corresponding service together with the corresponding document package. Non-presentation of the copy of the relevant payment document is the basis for leaving by National Bank of the statement for licensing without consideration.

Repeated submission by the applicant of the statement for licensing which was left by National Bank without consideration according to Item 61 of the Section VII of this provision does not require implementation by the applicant of repeated payment if repeated submission of the statement is performed within three months from the date of leaving of the previous statement for licensing without consideration.

The National Bank returns to the applicant the money paid to them for service in consideration of document package about licensing if by the applicant within three months from the date of return by National Bank of documents for completion it was not repeatedly given to National Bank of documents concerning licensing or in case of receipt from the applicant of the corresponding petition (if the service was not rendered).

The service in consideration of the document package provided for receipt of the license is considered rendered, and the payment for consideration of document package is not subject to return if on the corresponding document packages the National Bank made the decision on issue/refusal in licensing.

8. The operator of mail service shall no later than the next working day from the date of the termination of provision of services of mail service or the termination of rendering services in accomplishment of postal order, or exception of the Register of operators of information on the operator of mail service or information on rendering services in accomplishment of postal order to them to stop rendering services in money transfer and in writing to notify on it National Bank.

9. The non-bank organization shall in case of adoption of the decision on the termination of provision of services by it on money transfer in writing notify on it National Bank within five working days from the date of adoption of such decision.

II. Conditions for receipt of the license and implementation of activities for money transfer

10. The National Bank grants the license to the applicant on condition of observance of the following requirements:

1) availability of information on the applicant in the Register of financial organizations / the Register of operators;

2) compliance of financial condition of the applicant to requirements of the Section IV of this provision;

3) compliance of structure of property of the applicant to requirements of the Section VI of this provision;

4) was not within the year preceding receipt date of documents, the facts of violation by the applicant of requirements of regulatory legal acts of National Bank, the legislation of Ukraine concerning regulation of the markets of financial services (only for non-bank financial institutions), in the sphere of provision of services of mail service regarding postal order (only for operators of mail service) in the sphere of prevention and counteraction of legalization (washing) of income gained in the criminal way, or to financing of terrorism, the foreign exchange legislation and/or the corrective actions applied to it for violations of the specified legislation of Ukraine;

5) compliance of conditions and procedure for provision of services on money transfer to the legislation of Ukraine concerning money transfer.

Conditions and procedure for provision of services on money transfer are determined in the document specified in the subitem 6 of Item 18 of the Section III of this provision;

6) compliance of the applicant, his heads, owners of essential participation in it to the requirements to goodwill determined in the Section V of this provision;

7) availability at the operator of mail service at least 50 structural divisions in which implementation of activities for money transfer is planned the areas of Ukraine located in the territory of at least 50 percent (except the territory, the acknowledged Ukraine which is temporarily occupied according to the legislation, and the territory in which public authorities of Ukraine temporarily do not perform the powers);

8) availability at the operator of mail service at least than 50 percent of the income for the previous accounting year on the last reporting date received from activities in the sphere of provision of services of mail service that is confirmed by the audit report of the subject of auditor activities with information on structure of this income.

11. The non-bank organization shall within three months from the date of entering into the Register of financial institutions or the Register of persons which are not financial institutions, record about licensing, but about day of carrying out the first transaction on money transfer, to develop and approve as the head of non-bank organization or other authorized body according to the charter such internal documents:

1) internal regulations about money transfer according to the conditions approved by National Bank and procedure for provision of services on money transfer, provisions of rules of payment service provider which member is or the non-bank organization, and with observance of requirements of the legislation of Ukraine concerning money transfer plans to be;

2) procedure for internal control behind provision of services on money transfer;

3) internal documents concerning financial monitoring taking into account requirements of the legislation of Ukraine 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 and Regulations on implementation by organizations of the financial monitoring approved by the resolution of Board of the National Bank of Ukraine of July 28, 2020 No. 107;

4) internal documents concerning realization of special economic and other rationing measures (sanctions) taking into account requirements of the legislation of Ukraine in the sphere of realization of special economic and other rationing measures (sanctions);

5) internal documents which shall determine procedure of payments of limit of remaining balance of cash in cash desk of Items of provision of financial services and frequency of carrying out collection of cash in Items of provision of financial services and payment devices (for non-bank organizations which intend to provide services in acceptance of cash for its further translation).

12. Internal regulations about money transfer shall contain following provisions:

1) the list and the description of types of service on money transfer which will be provided by non-bank organization [with indication of methods of initiation of the translations, their purpose, users (physical persons / subjects of managing), payment instruments which will be used (for documents for transfer the list of their details), procedure for test the user of details of the translation before its initiation and procedure for provision to the user of the document confirming translation implementation shall be provided];

2) the description of accomplishment of all specified services and the list of the involved parties during their provision (for each service separately), and also on each separate service:

the traffic pattern of means during the translation from the moment of initiation before its completion;

procedure for carrying out by non-bank organization of settlings with other participants of money transfer;

time of processing of transactions and terms of carrying out money transfer;

3) terms and procedure for storage of information on money transfer implementation;

4) procedure for return of means to the initiator of the transfer in case of impossibility of their transfer into the account or payments in cash form to the receiver, and also response the initiator of the translation;

5) procedure for the dispute resolution between non-bank organization and users (payers and receivers of money);

6) the requirement description to procedure for provision of services through structural divisions (with indication of the list of the types of service rendered by structural divisions, subordinations of such structural divisions, procedures for their conducting exit and permanent checks), and also the description of use of services of external contractors and participation of non-bank organization in payment systems.

13. The procedure for internal control behind provision of services on money transfer shall contain following provisions:

1) the description of risk management system and procedures which the non-bank organization will enter for assessment and prevention of risks (on each risk separately);

2) the description of procedures of conducting periodic and constant control behind rendering services in money transfer, including their frequency and the list of responsible persons;

3) the description of methods of monitoring and control of functions which are performed by external contractors;

4) the description of methods of monitoring and control of rendering services in money transfer of non-bank organization by structural divisions (in case of their availability).

14. The operator of mail service who obtained the license during all term of its action shall provide:

1) accounting of means on transfer operations of money separately from the money connected with provision of services of mail service and other business activity;

2) availability at least 50 structural divisions in which activities for money transfer are performed the areas of Ukraine located in the territory of at least 50 percent (except the territory, the acknowledged Ukraine which is temporarily occupied according to the legislation, and the territory in which public authorities of Ukraine temporarily do not perform the powers).

15. The non-bank organization shall observe during all effective period of the license requirements of the legislation of Ukraine, including requirements of this provision, rules of payment systems which participant it is, the conditions approved with National Bank and procedure for provision by non-bank organization of services in money transfer, and also to fulfill requirements, orders, decisions of National Bank (including those which concern elimination of the revealed violations of the requirements provided by this Provision), to provide upon the demand of National Bank information, documents and the reporting in the time established by National Bank.

16. The non-bank organization shall during all effective period of the license annually till June 01 file to National Bank such documents:

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