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RESOLUTION OF THE MINISTRY OF FINANCE OF THE REPUBLIC OF BELARUS

of October 21, 2021 No. 61

About trust management of securities

Based on paragraphs of the sixth and seventh of part one of article 8 of the Law of the Republic of Belarus of January 5, 2015 No. 231-Z "About the security market", Item 10 of the Regulations on the Ministry of Finance of the Republic of Belarus approved by the resolution of Council of Ministers of the Republic of Belarus of October 31, 2001 No. 1585, the Ministry of Finance of the Republic of Belarus DECIDES:

1. Determine that:

1.1. in case of transfer of the securities belonging to the died person in trust management in connection with taking measures to protection of inheritance and management of it, the depositary reflects them in synthetic depositary accounting according to the balance sheet account 817 "The Securities Blocked in connection with the Death of the Owner, Delivered in Trust Management in connection with Taking Measures to Protection of Inheritance and Management of It" which purpose is established in subitem 1.4 of this Item, based on provided to depositary of the original and copy of the trust management agreement of securities.

For implementation of the actions specified in part one of this subitem, the order of "depot" draws up and the authorized employee of depositary signs. The detail "Appointment and (or) Basis" of the order of "depot" shall contain the name, number and date of the trust management agreement of securities.

The authorized employee of depositary verifies the copy of the trust management agreement of securities with the original, does mark which enter the name of position of the authorized employee of depositary, its personal signature, surname and initials, date on the copy. After reconciliation the original returns to the provided his face;

1.2. if other is not established by subitem 1.3 of this Item, in case of termination (cancellation) of the trust management agreement of securities return from trust management of the securities blocked on the account of "depot" of the died person is performed by the termination of reflection of these securities in synthetic depositary accounting according to the balance sheet account 817 "The Securities Blocked in connection with the Death of the Owner, Delivered in Trust Management in connection with Taking Measures to Protection of Inheritance and Management of It" and their reflections according to the corresponding balance sheet account intended for accounting of these securities blocked by depositary in connection with the death of the owner based on provided to depositary of the copy and original of the agreement on agreement cancelation of trust management of securities or in connection with the termination of the duration of the agreement of trust management.

For implementation of the actions specified in part one of this subitem, the order of "depot" draws up and the authorized employee of depositary signs. The detail "Appointment and (or) Basis" of the order of "depot" shall contain the name, number and date of the agreement on agreement cancelation of trust management of securities (expiry date of the agreement).

In case of agreement cancelation of trust management of securities the authorized employee of depositary verifies the copy of the agreement on agreement cancelation of trust management of securities with the original, does mark which enter the name of position of the authorized employee of depositary, its personal signature, surname and initials, date on the copy. After reconciliation the original returns to the provided his face;

1.3. in case of simultaneous submission to depositary of the copy and the original of the agreement on agreement cancelation of trust management of securities, and also certificates on the right to inheritance or the judgments on recognition for the heir of the property right to the securities of action specified in subitem 1.2 of this Item are not performed. In the specified case the securities blocked on the account of "depot" of the died person are transferred to the account of "depot" of the heir according to the procedure, established by the legislation on securities;

1.4. in synthetic depositary accounting the securities blocked by depositary in connection with the death of the owner of these securities, delivered in trust management within taking measures to protection of inheritance and management by it according to the legislation are reflected in the balance sheet account 817 "The Securities Blocked in connection with the Death of the Owner, Delivered in Trust Management in connection with Taking Measures to Protection of Inheritance and Management of It".

On the debit of the account the securities which are written off from appropriate section of the account of "depot" of the died person are reflected.

On the credit of the account the securities enlisted on appropriate section of the account of "depot" of the died person by transfer to trust management are reflected;

1.5. in case of transfer to trust management of the securities blocked on the account of "depot" of the died person, date of reflection of these securities on the account of "depot" of the died person in synthetic depositary accounting according to the corresponding balance sheet account specified in part one of subitem 1.1 of this Item is considered the date of entry into force of the trust management agreement that is essential condition of such agreement.

2. This resolution becomes effective after its official publication.

Minister

Yu.M.Seliverstov

It is approved

Ministry of Justice of the Republic of Belarus

 

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info

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