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RESOLUTION OF BOARD OF THE NATIONAL BANK OF UKRAINE

of February 2, 2021 No. 13

About approval of the Regulations on features of application of corrective action by the National Bank of Ukraine in the form of discharge of management from management of financial institution and appointment of temporary administration

According to Articles 7, of 15, 55-1, 56 of the Law of Ukraine "About the National Bank of Ukraine", to Articles 21, of 28, of 29, of 39, of 40, of 46, "About financial services and state regulation of the markets of financial services", in pursuance of requirements of Item 14 of the Section II of the Law of Ukraine of September 12, 2019 No. 79-IX "About modification of some legal acts of Ukraine concerning enhancement of functions on state regulation of the markets of financial services", for the purpose of settlement concerning features of application of corrective action in the form of discharge of management from management of non-bank financial institution and appointment of temporary administration the Board of the National Bank of Ukraine DECIDES: 47 Laws of Ukraine

1. Approve Regulations on features of application of corrective action by the National Bank of Ukraine in the form of discharge of management from management of financial institution and appointment of temporary administration which is applied.

2. 3 appendices to the resolution of Board of the National Bank of Ukraine of June 25, 2020 No. 87 "About ensuring implementation of powers and accomplishment of functions on state regulation and supervision in the sphere of the markets of financial services in questions of application of corrective actions" to exclude Item.

3. Recognize invalid:

1) Item 1 of the order of State commission on regulation of the markets of financial services of Ukraine of March 27, 2008 No. 416 "About approval of the Regulations on features of application of corrective actions in the form of discharge of management from management of financial institution and appointment of temporary administration and about modification of some regulatory legal acts", registered in the Ministry of Justice of Ukraine on May 30, 2008 for No. 481/15172;

2) subitem 1.2 of Item 1 of the order of the National commission performing state regulation in the sphere of the markets of financial services, of January 10, 2013 No. 65 "About approval of changes in some orders of State commission on regulation of the markets of financial services of Ukraine concerning features of application of corrective actions", registered in the Ministry of Justice of Ukraine on February 01, 2013 for No. 202/22734.

4. The resolution becomes effective from the date of, its official publication following behind day.

Chairman

K. Shevchenko

Approved by the Resolution of Board of the National Bank of Ukraine of February 2, 2021 No. 13

Regulations on features of application of corrective action by the National Bank of Ukraine in the form of discharge of management from management of financial institution and appointment of temporary administration

I. General provisions

1. This Provision is developed according to the Laws of Ukraine "About the National Bank of Ukraine", "About financial services and state regulation of the markets of financial services" (further - the Financial services act), regulatory legal acts of the National Bank of Ukraine (further - National Bank) concerning application of corrective actions by National Bank in the sphere of state regulation of activities in the markets of non-bank financial services.

2. This Provision determines features of application by National Bank of corrective action in the form of discharge of management from management of financial institution and appointment of temporary administration concerning financial institution (except bank) which activities are licensed by National Bank (further - non-bank financial institution) according to the procedure, provided by the Financial services act, the regulatory legal act of National Bank concerning application of corrective actions by National Bank in the sphere of state regulation of activities in the markets of non-bank financial services.

3. The terms used in this Provision are used in such values:

1) the head of temporary administration - physical person which according to the decision of National Bank on application of corrective action in the form of discharge of management from management of non-bank financial institution and appointment of temporary administration (further - the decision on appointment of temporary administration) acquires the status of his head and heads temporary administration if the temporary administrator designates the legal entity;

2) the worker of the temporary administrator - the worker of the legal entity designated by National Bank the temporary administrator;

3) temporary administration - the temporary governing body appointed by the decision of National Bank and control of non-bank financial institution to which the National Bank applies corrective action in the form of discharge of management from management of financial institution and appointment of temporary administration;

4) the temporary administrator - the legal entity or physical person designated by National Bank which performs functions of temporary administration and which conforms to the requirements determined by Article 47 of the Financial services act including the head of temporary administration.

Other terms used in this Provision are used in the values determined in the Law of Ukraine "About the National Bank of Ukraine", the Financial services act and regulatory legal acts of National Bank concerning regulation of the markets of non-bank financial services.

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