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RESOLUTION OF COUNCIL OF MINISTERS OF THE REPUBLIC OF BELARUS

of December 18, 2018 No. 913

About approval of the Regulations on procedure for forming of lists of the insolvent agricultural organizations which are subject to financial improvement

(as amended of the Resolution of Council of Ministers of the Republic of Belarus of 03.12.2020 No. 694)

According to the paragraph the second Item 10 of the Presidential decree of the Republic of Belarus of October 2, 2018 "About financial improvement of agricultural organizations" the Council of Ministers of the Republic of Belarus DECIDES: No. 399

1. Approve Regulations on procedure for forming of lists of the insolvent agricultural organizations which are subject to financial improvement it (is applied).

2. This resolution becomes effective since January 7, 2019.

Prime Minister of the Republic of Belarus

S. Rumas

Approved by the Resolution of Council of Ministers of the Republic of Belarus of December 18, 2018 No. 913

Regulations on procedure for forming of lists of the insolvent agricultural organizations which are subject to financial improvement

1. This Provision establishes procedure for forming of lists of the insolvent agricultural organizations which are subject to financial improvement according to the Presidential decree of the Republic of Belarus of October 2, 2018 No. 399 (further – the list).

2. Agricultural organizations at which for October 1, 2018, and in the years ahead for January 1 of the corresponding year insolvency acquires can be included in the list or has steady nature according to the resolution of Council of Ministers of the Republic of Belarus of December 12, 2011 No. 1672 "About determination of criteria for evaluation of solvency of subjects of managing".

The list of the insolvent agricultural organizations which are subject to financial improvement is constituted in form according to appendix 1, paradise affirms regional executive committee according to offers - the Gorispolkoms till April 7, 2019 and it is in the years ahead staticized by results of previous year till July 1 at the same time on all organizations of area.

The list can be staticized till November 1 of the current year proceeding from nature of insolvency for July 1 of this year at the same time on all organizations of area.

3. For forming of the list paradise - the Gorispolkoms provide consideration of results of financial and economic activities of the insolvent agricultural organizations irrespective of pattern of ownership located in the territory of the corresponding administrative and territorial units (further – agricultural organizations), on commission session according to the prevention of the economic insolvency (bankruptcy) created according to article 16 of the Law of the Republic of Belarus of July 13, 2012 No. 415-Z "About economic insolvency (bankruptcy)" in case of paradise - the Gorispolkom (further – the commission), with participation of the head and representative of governing body * to this organization.

______________________________

* The governing body of agricultural organization is understood as state body and other state organization subordinated to the President of the Republic of Belarus, the republican state body and other state organization subordinated to the Government of the Republic of Belarus under supervision (structure) of which is insolvent agricultural organization or in management of which the stocks emitted by this agricultural organization (share in authorized capitals of such agricultural organizations), other organization owned by the Republic of Belarus in economic maintaining (operational management) in which property there are shares (share in authorized funds), property of agricultural organization are transferred.

4. The commission till January 15, 2019 by results of financial and economic activities in 9 months 2018, and in the years ahead till April 15 by results of financial and economic activities for previous year and till August 15 – for half-year of the corresponding year:

analyzes completeness of the taken measures for recovery of solvency of agricultural organizations, including respect for technology discipline, collection of receivables, achievement of agreements with creditors on debt restructuring and other measures established by the legislation, including the Presidential decree of the Republic of Belarus of July 4, 2016 No. 253 "About measures for financial improvement of agricultural organizations";

makes recommendations of need of inclusion of these organizations in the list, and also developments (adjustment) of the business plan on financial improvement including the measures provided by the Presidential decree of the Republic of Belarus of October 2, 2018 No. 399 (further – the business plan).

The business plan is developed for nine years and shall provide execution of the current obligations and obligations on repayment of the spread debt in full.

In case of achievement of agreed decision between creditors (except for tax authorities and state non-budgetary fund of social protection of the population of the Republic of Belarus) and agricultural organization about debt restructuring for other terms the business plan is constituted for the corresponding term increased for one year.

Development of the business plan is performed taking into account the debt restructuring mechanisms chosen by creditors according to subitem 1.2 of Item 1 of the Presidential decree of the Republic of Belarus of October 2, 2018 No. 399.

5. Agricultural organization:

5.1. within 10 calendar days from the date of pronouncement of the recommendation of the commission sends to legal address the creditor (except for tax authorities and state non-budgetary fund of social protection of the population of the Republic of Belarus) or to the last location of the legal entity known to agricultural organization, the organization, not being the legal entity, to the residence of the individual entrepreneur or citizen, being creditors, the registered mail with the notification, either to the e-mail address, or with use of other means of communication and the deliveries providing fixation of such notification and receipt of confirmation by agricultural organization about its delivery to the creditor, the statement for need of the choice of the mechanism of debt restructuring provided in subitem 1.2 of Item 1 of the Presidential decree of the Republic of Belarus of October 2, 2018 No. 399.

The statement shall contain the offer on the mechanism of debt restructuring and reasons with appendix of the balance sheet on the last reporting date, including if necessary the corresponding appendices to it. Also can be enclosed to the application information on solvency, including data on the corresponding coefficients, and the forecast of solvency taking into account the offered mechanism.

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