ORDER OF THE MINISTRY OF FINANCE OF UKRAINE, MINISTRY OF ECONOMICS OF UKRAINE

of February 25, 1997 No. 46/24

About approval of procedure for writing out and repayment of promissory notes which are issued by domestic oil refineries by delivery to these plants of oil by subjects of entrepreneurial resident activities

According to the resolution of the Cabinet of Ministers of Ukraine of November 2, 1996 N1331 "About Additional Measures for Providing Economy with Oil and Oil Products"

WE ORDER:

1. Approve the Procedure for writing out and repayment of promissory notes which are issued by domestic oil refineries by delivery to these plants of oil by subjects of business activity - residents it (is applied).

Approved by the order of the Ministry of Finance of Ukraine and the Ministry of Economics of Ukraine of February 25, 1997, No. 46/24

Procedure for writing out and repayment of promissory notes which are issued by domestic oil refineries by delivery to these plants of oil by subjects of business activity - residents

This Procedure N1331 "About Additional Measures for Providing Economy with Oil and Oil Products" and according to the Law of Ukraine "About securities and stock exchange" is developed in pursuance of the resolution of the Cabinet of Ministers of Ukraine of November 2, 1996.

I. Writing out of bills of exchange

1. The domestic oil refinery (daleeispolnitel) on which oil by the subject of business activity - resident is delivered for conversion (further - the customer) issues the promissory note (further - the bill of exchange) to State Tax Administration on the (contractor) location.

2. The bill of exchange is written out on bill forms according to the resolution of the Cabinet of Ministers of Ukraine of September 10, 1992 N528 "About Approval of Rules of Production and Use of Bill Forms".

3. The bill of exchange is written out in hryvnias on the amount of the contractual cost accepted on oil refining (further - the bill amount).

4. The drawer and the payer by the bill of exchange determine the contractor.

5. The bill of exchange is written out by order of State Tax Administration on the location of the contractor with payment due date of 67 days of date of creation. Date of creation of the bill of exchange determines date of acceptance of oil by the contractor for conversion.

6. The place of payment by the bill of exchange determines the location of bank in which the settlement account of the contractor is opened.

7. Together with issue of the bill of exchange the contractor represents to State Tax Administration of the copy of the documents confirming contractual cost accepted on oil refining, amount of finished goods (oil products) which shall be shipped to the customer, and date of acceptance of oil for conversion.

II. Repayment of bills of exchange

8. The bill of exchange is settled by State Tax Administration based on the documents shown by the contractor before the termination of 60-day term of date of creation of the bill of exchange confirming shipment to the customer of finished goods (oil products) in full by putting down on the bill of exchange of text of POGASHENO, the certified signature of the chief (deputy chief) of State Tax Administration and seal of State Tax Administration. The bill of exchange extinguished by State Tax Administration returns to the contractor. The copy which remains in State Tax Administration is made of the extinguished bill of exchange.

9. In case of non-confirmation by the contractor of shipment of complete amount of finished goods (oil products) for 60 days of date of creation of the bill of exchange the State Tax Administration endorses bill for benefit of the customer and according to the written address of the customer transfers it the endorsed bill of exchange. The copy which remains in State Tax Administration is made of the bill of exchange, endorsed for benefit of the customer. The further bill presentation to repayment by its payment is performed by the customer according to the current legislation concerning circulation of bills.

10. The customer who does not address to State Tax Administration behind the bill of exchange, endorsed in its advantage, till maturity on the bill of exchange affects so the risk.

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