Document from CIS Legislation database © 2003-2021 SojuzPravoInform LLC

PRESIDENTIAL DECREE OF THE REPUBLIC OF BELARUS

of October 15, 2021 No. 391

About stabilization of financial condition of the organizations

For the purpose of creation of conditions for financial improvement of the organizations of real production sector I decide:

1. Grant the right to JSC Asset Management Agency (further - the Agency) to perform bond emission taking into account the features specified in appendix 1.

The Republic of Belarus bears subsidiary responsibility on obligation fulfillment on the bonds of the Agency emitted according to this Decree (further - bonds of the Agency). Conditions and procedure for attraction of the Republic of Belarus to subsidiary responsibility on such obligations are determined in appendix 2.

The limit of bond emission of the Agency is annually set by Council of Ministers of the Republic of Belarus together with National Bank.

2. Determine that:

2.1. at the expense of the means received from placement of bonds of the Agency, and other sources by the Agency the assets created on the loans granted by banks to debtors and also on the bonds emitted by debtors which owners are banks (further if other is not established, - assets are acquired).

Use of the funds received from placement of bonds of the Agency for the purposes which are not determined in part one of this subitem, except for of repayment emitted by it before bonds is not allowed.

Acquisition by the Agency of the assets created on the credits is performed by the conclusion of contracts of assignment of the requirement between the Agency, banks and debtors.

In case of the conclusion of contracts of assignment of the requirement to the Agency pass rights to claim:

the main amount of debt on the credits (including delayed);

the interest for using the credits which is not paid for date of concession of the requirement and other payments according to credit agreements (including delayed);

the interest for using these credits charged after date of concession of the requirement.

In case of acquisition of the assets created on the credits pass to the Agency the rights providing obligation fulfillment of the debtor on the yielded asset including the rights of the pawnbroker under agreements of pledge (mortgage).

The assets created on the credits if other is not established in part eight of this subitem, are acquired by the Agency with discount in the amount of the special reserves which were no more created on them by banks on the last reporting date on covering of possible losses on the assets subject to credit risk (further - special reserves), and also in the amount of the interest for using the credits which is not paid for date of concession of the requirement and other payments according to credit agreements.

The assets created on bonds if other is not established in part eight of this subitem, are acquired by the Agency with discount in the amount of the special reserves which were no more created on them by banks on the last reporting date by the conclusion with banks of purchase and sale agreements of bonds.

Bad assets are acquired by the Agency with discount at the rate to 99 percent from:

the main amount of debt, and also in the amount of the interest for using the credits which is not paid for date of concession of the requirement, and other payments according to credit agreements - if bad assets are created on the credits of debtors;

the prices of acquisition by banks of bonds - if bad assets are created on bonds of debtors;

2.2. in case of transfer of assets to the Agency:

change of the monetary commitments expressed in foreign currency on the monetary commitments expressed in Belarusian rubles on the official rate of Belarusian ruble to the corresponding foreign currency established by National Bank for date of their transfer can be performed;

compensation (compensation) and interest payment (part of percent) for use of bank loans on which right to claim passed to the Agency at the expense of means republican and (or) local budgets are not performed;

Warning!!!

This is not a full text of document! Document shown in Demo mode!

If you have active License, please Login, or get License for Full Access.

With Full access you can get: full text of document, original text of document in Russian, attachments (if exist) and see History and Statistics of your work.

Get License for Full Access Now

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

Effectively work with search system

Database include more 50000 documents. You can find needed documents using search system. For effective work you can mix any on documents parameters: country, documents type, date range, teams or tags.
More about search system

Get help

If you cannot find the required document, or you do not know where to begin, go to Help section.

In this section, we’ve tried to describe in detail the features and capabilities of the system, as well as the most effective techniques for working with the database.

You also may open the section Frequently asked questions. This section provides answers to questions set by users.

Search engine created by SojuzPravoInform LLC. UI/UX design by Intelliants.