It is registered
Ministry of Justice of Ukraine
October 13, 2017
No. 1260/31128
of May 30, 2017 No. 393
About approval of the Regulations on establishment of signs of fictitiousness of issuers of securities and inclusion of such issuers in the list of the issuers having fictitiousness signs
According to subitem 170.2.6 of Item 170.2 of Article 170 of the Section IV of the Tax code of Ukraine, part two Items 37-10, 37-11 of Article 7, to Items 5-1, 13 of article 8 of the Law of Ukraine "About state regulation of the security market in Ukraine", for the purpose of determination of signs of fictitiousness of issuers and procedure for inclusion of the issuer in the list of the issuers having fictitiousness signs, the National commission on securities and the stock market RESHILA:
1. Approve Regulations on establishment of signs of fictitiousness of issuers of securities and inclusion of such issuers in the list of the issuers having fictitiousness signs which are applied.
2. And corporate finances to provide to corporate management department submission of this decision on state registration in the Ministry of Justice of Ukraine.
3. This decision becomes effective in 30 days from the date of its official publication.
4. To provide to department of information technologies promulgation of this decision on the official site of the National commission on securities and the stock market.
5. To provide to management of international cooperation and communications publication of this decision in the official printing publication of the National commission on securities and the stock market.
6. Control over the implementation of this decision to assign to the member of the National commission on securities and the stock market D. Tarabakin.
Commission chairman
T. Hromayev
Approved by the Decision of the National commission on securities and the stock market of Ukraine of May 30, 2017 No. 393
1. This Provision determines:
1) signs of fictitiousness of the issuer of securities;
2) procedure for decision making about inclusion of the issuer in the list of the issuers having fictitiousness signs (further - the list) and exception of this list.
2. In this Provision the term "capitalization" is used in such value - share market value of the issuer which is determined by stock exchange according to the requirements established by the National commission on securities and the stock market and is published on own the website of stock exchange.
3. Action of this provision does not extend to such issuers:
1) the central executive body realizing the state financial policy;
2) Public mortgage institution;
3) professional participants of the stock market and Central Securities Depository;
4) banks;
5) the state-owned managing holding companies, the state-owned holding companies and joint-stock companies which single shareholder is the state;
6) international financial institutions;
7) Fund of guaranteeing household deposits;
8) city councils;
9) Autonomous Republic of Crimea;
10) the issuers who are in condition of the termination and which security circulation is stopped according to the procedure, established by the legislation.
4. Signs of fictitiousness of the issuer of securities (except corporate investment funds):
1) non-presentation by the issuer in the National commission on securities and the stock market (further - the Commission) regular annual information or regular quarter information within two quarters in a row;
2) not holding general shareholder meeting by joint-stock company within two years in a row and/or not formation of the governing bodies of joint-stock company determined by the legislation within year from the date of registration by the Commission of the report on results of private placement of shares among founders of joint-stock company;
3) registration of the location of the issuer in housing stock;
4) the average monthly size of the salary for the accounting period, is less than minimum size of the salary established by the legislation;
5) lack of net income from sales of products (goods, works, services) (for insurers - the size of the net earned insurance premiums) as of the end of financial year (except insurers on life insurance);
6) fixed assets, and/or incomplete capital investments and/or the investment real estate, and/or non-current biological assets and/or inventories, and/or the current biological assets and/or rights to use by natural resources, and/or delayed tax assets and/or money and their equivalents, and/or other current assets constitute less than 25 percent of assets of the issuer as of the end of the accounting period;
7) for public joint stock companies, insurers, and also other issuers performing economic activity by types which list is determined by the Cabinet of Ministers of Ukraine - not creation of the financial reporting and consolidated financial statements under International Financial Reporting Standards;
8) for public joint stock companies - more than triple excess of capitalization of the issuer over the size of net income from sales of products (goods, works, services) (for insurers - the size of the net earned insurance premiums) as of the end of financial year (except insurers on life insurance, holding companies);
9) for public joint stock companies - more than triple excess of capitalization of the issuer over net assets value of such issuer as of the end of the accounting period;
10) for insurers on insurance to other, than life insurance, - share of assets of the issuer as of the end of the accounting period is constituted by receivables (except receivables for goods, works and services) in the amount of 25 and more percent;
11) for insurers on insurance to other, than life insurance, - share of assets of the issuer as of the end of the accounting period is constituted by the received bills of exchange in the amount of 20 and more percent;
12) for insurers on insurance to other, than life insurance, - share of assets of the issuer as of the end of the accounting period is constituted by long-term financial investments (which are considered by method of equity participation of other companies and other financial investments) in the amount of 40 and more percent;
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