RESOLUTION OF BOARD OF THE NATIONAL BANK OF UKRAINE

of January 29, 2003 No. 35

About approval of the Regulations on procedure for issue to residents of individual licenses on transfer of foreign currency out of limits of Ukraine for the purpose of acquisition of bonds of external state loans of Ukraine

For the purpose of restructuring of external debt, market development of the state borrowing and settlement of procedure for the transfer of foreign currency out of limits of Ukraine for the purpose of acquisition of bonds of external state loans of Ukraine and according to requirements of Articles 7, 44 Laws of Ukraine "About the National Bank of Ukraine", article 5 of the Law of Ukraine "About financial services and state regulir of financial services", Articles 5, of 11, of 19.02.93 No. 15-93 "About system of currency control and currency exchange control" the Board of the National Bank of Ukraine DECIDES: 13 Decrees of the Cabinet of Ministers of Ukraine

1. Approve Regulations on procedure for issue to residents of individual licenses on transfer of foreign currency out of limits of Ukraine for the purpose of acquisition of bonds of external state loans of Ukraine which is applied.

2. To department of currency exchange control and licensing (S. O. Bragin) after state registration in the Ministry of Justice of Ukraine to bring contents of this resolution to permission of independent structural divisions, Operational and territorial administrations of the National Bank of Ukraine, the Ukrainian Interbank currency exchange, Association of the Ukrainian banks, banks of Ukraine for management and use in work.

3. To impose control over the implementation of this resolution on Department of currency exchange control and licensing (S. O. Bragin).

4. The resolution becomes effective in 10 days after state registration in the Ministry of Justice of Ukraine.

Approved by the Resolution of Board of the National Bank of Ukraine of January 29, 2003 No. 35

Regulations on procedure for issue to residents of individual licenses on transfer of foreign currency out of limits of Ukraine for the purpose of acquisition of bonds of external state loans of Ukraine

This Provision is developed according to requirements of Articles 7, 44 Laws of Ukraine "About the National Bank of Ukraine", article 5 of the Law of Ukraine "About financial services and state regulation of the markets of financial services", Articles 5, of 11, 13 Decrees of the Cabinet of Ministers of Ukraine of 19.02.93 No. 15-93 "About system of currency control and currency exchange control" and regulates procedure and conditions of provision of individual licenses of the National Bank of Ukraine (further National Bank) on transfer of foreign currency out of limits of Ukraine for the purpose of acquisition of bonds of external state loans of Ukraine by residents - legal entities and physical persons - subjects of business activity who take the permanent place of residence and the location in the territory of Ukraine.

1. General provisions

1.1. Terms and concepts of this Provision are used according to the determinations specified in the Law of Ukraine "About banks and banking activity", the Law of Ukraine "About securities and the stock market", the Decree of the Cabinet of Ministers of Ukraine of 19.02.93 No. 15-93 "About system of currency control and currency exchange control".

1.2. According to this Provision individual licenses of National Bank on the translation out of limits of Ukraine of foreign currency for the purpose of acquisition of bonds of external state loans of Ukraine (further - the license) are issued for transfer of foreign currency out of limits of Ukraine for the purpose of acquisition of bonds of external state loans of Ukraine (further - obligations of Ukraine).

1.3. Licenses are granted for the term of 90 calendar days from the date of their issue.

Date of issue of the license shall precede date of implementation of the corresponding currency transaction.

The license cannot be granted (is received) on implementation of currency transaction which is carried already out.

1.4. In case of provision of the license of bank the amount on which the license is granted cannot exceed 10% of the amount of assets of bank.

1.5. The license for transfer of foreign currency out of limits of Ukraine for the purpose of acquisition of obligations of Ukraine is granted by National Bank.

1.6. Purchase of foreign currency in the interbank foreign exchange market of Ukraine for acquisition of obligations of Ukraine is forbidden.

1.7. Banks and residents bear responsibility according to the current legislation of Ukraine for violation of requirements of this Provision.

2. The list of the documents necessary for receipt of the license

2.1. The resident for receipt of the license for transfer of foreign currency out of limits of Ukraine for the purpose of acquisition of obligations of Ukraine files such documents:

a) the statement for licensing according to appendix 1;

b) originals or copies of certificates of registration of resident as taxpayer in body of the State Tax Service;

c) the certificate of bank of account number of resident from which the foreign currency out of limits of Ukraine will be converted;

2.2. Authorized bank, except the documents specified in Item

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