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The document ceased to be valid since  May 30, 2017 according to the Item 1 Order of the National Commission, performing state regulation in the sphere of the markets of financial services of Ukraine of April 6, 2017 No. 947

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Ministry of Justice of Ukraine

December 25, 2003

No. 1225/8546

THE ORDER OF STATE COMMISSION ON REGULATION OF THE MARKETS OF FINANCIAL SERVICES OF UKRAINE

of December 2, 2003 No. 146

About approval of Licensed conditions of implementation of activities of credit unions for provision of financial services

(as amended on 05-03-2013)

According to requirements of the subitem 3 of Item 1 of article 28 of the Law of Ukraine "About financial services and state regulation of the markets of financial services", item 4 of article 8 of the Law of Ukraine "About credit unions", the subitem 8 of item 4 of the Regulations on State commission on regulation of the markets of financial services of Ukraine approved by the Decree the President of Ukraine of April 4, 2003 No. 292/2003, and for the purpose of enhancement of state regulation of activities of credit unions State commission on regulation of the markets of financial services of Ukraine by POSTANOVILA:

1. Approve Licensed conditions of implementation of activities of credit unions on provision of financial services (are applied).

2. To legal management (Tkachenko D. V.) together with Department of supervision of credit institutes (Olenchik A. Ya.) provide provision of this order in the Ministry of Justice of Ukraine for state registration.

3. And public relations (Nagornyak M. V.) to provide to department of interaction with mass media the publication of this order in mass media after its state registration.

4. Control over the implementation of the order to assign to the member of the commission - the director of the department of supervision of credit institutes Olenchik A. Ya.

Commission chairman

V. Suslov

Approved by the Order of State commission on regulation of the markets of financial services of Ukraine on December 2, 2003 No. 146

Licensed conditions of implementation of activities of credit unions on provision of financial services

These Licensed conditions Regulations on the National commission performing state regulation in the sphere of the markets of financial services, No. approved by the Presidential decree of Ukraine of November 23, 2011 1070, of the Regulations on the State register of financial institutions approved by the order of State commission on regulation of the markets of financial services of Ukraine of August 28, 2003 No. 41 and registered in the Ministry of Justice of Ukraine of September 11, 2003 for No. 797/8118, and other regulatory legal acts regulating activities of credit unions concerning provision of financial services are developed according to requirements of the Laws of Ukraine "About financial services and state regulation of the markets of financial services", "About credit unions".

Section 1. General provisions

1.1. In these Licensed conditions the stated below concepts are used in such value:

the raised funds are the money raised by credit unions from banks, other organizations and the organizations except the funds of the joint credit unions raised by the credit unions which are their members and means of joint financial funds of associations of the credit unions formed by their members. Fees of members of credit unions which go for forming of the capital of credit unions do not belong to the raised funds;

the applicant - credit union or the joint credit union (further - credit union), information on which is entered in the State register of financial institutions (further - the Register) and which submits the application for issue, renewal of the license, issue of the duplicate of the license, cancellation of the license;

the licensee - credit union which obtained the license for implementation of the type of activity specified in it on provision of financial services;

licensing - issue, renewal, temporary stop and cancellation of licenses, issue of duplicates of licenses, conducting licensed cases, control of observance by the licensee of licensed conditions, issue of orders about elimination of violations of licensed conditions;

the license - the document of the state sample which certifies the right of credit union to implementation of the type of activity specified in it on provision of financial services during certain term on condition of accomplishment of these Licensed conditions.

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