LAW OF UKRAINE

of November 4, 2021 No. 1865-IX

About Fund of partial guaranteeing the credits in agricultural industry

This Law determines legal status, features of education and the principles of activities of Fund of partial guaranteeing the credits in agricultural industry, establishes procedure for determination of criteria of subjects of entrepreneurship and financial institutions, obligations according to credit agreements between which can be guaranteed by Fund.

Article 1. Legal status of Fund of partial guaranteeing the credits in agricultural industry

1. The fund of partial guaranteeing the credits in agricultural industry (further - Fund) is non-bank financial institution with special status which performs functions on ensuring support of subjects of microentrepreneurship, small and medium business, the physical persons entrepreneurs performing activities in the field of agricultural industry by partial guaranteeing obligation fulfillment of such subjects according to credit agreements.

2. Founder of Fund is the state on behalf of the Cabinet of Ministers of Ukraine. Fonda makes the decision on creation the Cabinet of Ministers of Ukraine.

The fund does not belong to the category of the state trust funds, acquires the status of financial institution and the right to perform activities for provision of financial services after inclusion it in the State register of financial institutions which maintaining performs the National Bank of Ukraine, and receipts of the license according to the procedure, established by the law and regulatory legal acts of the National Bank of Ukraine.

3. International financial institutions, other legal entities can be members of Fund, except the state.

4. In the activities the Fund is guided by the Constitution of Ukraine, Civil and Economic codes of Ukraine, this Law and the Law of Ukraine "About financial services and state regulation of the markets of financial services", and also other laws and regulatory legal acts concerning regulation of non-bank financial services.

5. The fund has the isolated property, separate balance and accounts in organizations of banks.

6. The fund can be the receiver of budgetary funds.

7. The Fund location - the city of Kiev.

Article 2. Fund charter

1. The constituent document of Fund is the Fund charter of partial guaranteeing the credits in agricultural industry (further - the Fund charter).

2. The fund charter affirms the Cabinet of Ministers of Ukraine.

3. The fund charter contains information relatively:

1) full and abbreviated name of Fund;

2) form of business of Fund;

3) size and procedure for forming of the authorized capital of Fund;

4) governing bodies of Fund, their competence, procedure for convocation and decision making;

5) procedure for the termination of Fund;

6) procedure for introduction of amendments to the Fund charter;

7) other provisions which are not contradicting the legislation of Ukraine.

Article 3. Authorized capital Fonda

1. The authorized capital of Fund is created at the expense of means of the Government budget of Ukraine and of other sources which are not forbidden by the law in the amount of, necessary for ensuring accomplishment of authorized tasks of Fund.

2. The size of the authorized capital of Fund is determined in the Fund charter and created taking into account requirements of this Law and the laws of Ukraine concerning regulation of the separate markets of financial services.

3. The minimum share of the state in the authorized capital of Fund constitutes 51 percent. The minimum share of the state in the authorized capital of Fund is not subject to concession, privatization, sale and alienation by any other method.

4. The authorized capital of Fund can be increased only after introduction by all participants of the deposits in full.

Increase in the authorized capital of Fund it can be performed by entering into the authorized capital of Fund of domestic government bonds.

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