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PRESIDENTIAL DECREE OF THE REPUBLIC OF BELARUS

of October 23, 2019 No. 394

About provision and attraction of loans

(as amended of the Presidential decree of the Republic of Belarus of 24.03.2021 No. 116)

For the purpose of enhancement of procedure of activities for regular provision and attraction of loans, consumer protection of the services rendered by the microfinancial organizations:

1. Determine that activities for provision of three and more loans during calendar month to one or several borrowers in the amount which is not exceeding 15 000 basic sizes on one borrower on the date of the conclusion of the agreement (further - microloan), are recognized microfinancial activities.

2. Has the right to perform microfinancial activities:

2.1. the commercial microfinancial organizations - the legal entities registered in the Republic of Belarus in the form of economic society or the unitary enterprise.

The commercial microfinancial organizations have the right to perform microfinancial activities in the form of provision of microloans on the security of the personal estate intended for personal, family or home use and are recognized pawnshops;

2.2. the non-profit microfinancial organizations - the legal entities registered in the Republic of Belarus in form of business of consumer cooperative.

The non-profit microfinancial organizations have the right to perform microfinancial activities in the form of provision of microloans to the members. Such organizations can be created in one of the following types:

consumer cooperative of financial mutual assistance;

society of mutual financing of subjects of small and medium business;

consumer cooperative of the second level;

2.3. legal entities:

created in the form of state (republican or municipal) the unitary enterprise, and also economic society, 50 and more percent of shares (shares) in authorized fund of which are in property of the Republic of Belarus and (or) its administrative and territorial units, registered in the rural zone * and included in the state information resource "Register of Household Services of the Republic of Belarus";

performing buying up of precious metals and gemstones in products and scrap for replenishment of the State fund of precious metals and gemstones of the Republic of Belarus.

The legal entities called in part one of this subitem are not the microfinancial organizations and have the right to perform microfinancial activities only in the form of provision of microloans on the security of the personal estate intended for personal, family or home use with obligatory transfer to ownership of subject of pledge to such legal entity (pledge).

______________________________

* For the purposes of this Decree the rural zone is understood as the territory of the Village Councils, settlements of city type and the cities of district subordination which are administrative and territorial units, the settlements of city type and the cities of district subordination which are territorial units, other settlements which are not administrative and territorial units, entering together with other territories spatial limits of the Village Councils.

3. The commercial and non-profit organizations called in subitems 2.1 and 2.2 of Item 2 of this Decree acquire the status of the microfinancial organizations and have the right to perform microfinancial activities from the date of inclusion by their National Bank in the register of the microfinancial organizations (further - the register) on condition of compliance to requirements imposed by this Decree and regulatory legal acts of National Bank.

The legal entities called in subitem 2.3 of Item 2 of this Decree, having the right to perform microfinancial activities from the date of informing by National Bank on receipt of the notification on the intention to perform these activities directed on paper (registered mail) or in electronic form according to the procedure, established by National Bank.

Such informing is performed by National Bank on paper (registered mail) or in electronic form no later than five working days from the date of receipt of the notification.

Are established by National Bank:

procedure for creation and maintaining register (including procedure for modification of the register);

procedure for inclusion of the microfinancial organizations in the register (including the application form, the list of documents for inclusion in the register and terms of their consideration, form of the certificate on inclusion in the register, the refusal bases in adoption of the statement for inclusion in the register and refusal in inclusion in the register);

procedure for exception of the register (including the bases of exception of the register, refusal in adoption of the statement for exception of the register and refusal in exception of the register);

contents of the notification on intention to perform microfinancial activities, documents attached to it, procedure and terms of informing on change of the data containing in the notification on the termination of implementation of microfinancial activities.

4. Determine that money irrespective of the amount can be received in loan (are attracted) from the physical persons who are not individual entrepreneurs by the conclusion of the loan agreement, other agreement providing similar conditions of transfer into the ownership of money:

the commercial microfinancial organizations - from the physical persons who are owners of property, founders (participants) of such organizations;

the non-profit microfinancial organizations - from the members who are founders, and in case of compliance to the criteria established by National Bank - from other members;

other commercial and non-profit organizations - from the physical persons who are owners of property, founders (participants), members of such organizations, and from other physical persons (one or several) - no more than two times during calendar month;

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