PRESIDENTIAL DECREE OF THE REPUBLIC OF BELARUS

of April 28, 2006 No. 278

About enhancement of regulation of circulation of bills in the Republic of Belarus

1. Determine that in the territory of the Republic of Belarus:

1.1. has the right to issue, accept, pay simple and drafts, and also to endorse and give the aval:

on behalf of the Republic of Belarus and its administrative and territorial units - the President of the Republic of Belarus or Council of Ministers of the Republic of Belarus in the cases established by the President of the Republic of Belarus;

The National Bank, other banks included in the list of the banks of the Republic of Belarus having the right to undertake on the bill of exchange, approved by National Bank in coordination with the President of the Republic of Belarus;

other legal entities of the Republic of Belarus, except the organizations financed from the budget;

the international organizations, foreign state bodies and the organizations, foreign citizens and stateless persons which do not have the permanent residence in the territory of the Republic of Belarus;

1.2. issue, indorsing and avalization simple and the bills of exchange which are not provided with money and other property of person who with respect thereto has obligations on the bill of exchange, including the property rights belonging to this person other alienable rights, having money value are not allowed.

As ensuring the actions specified in part one of this subitem the property, the right to which alienation is limited to the legislation, court, the owner or the agreement, cannot be used;

1.3. implementation of the right to issue simple and drafts, their copies and copies of bill of exchange, to endorse and avalize simple and drafts, and also to accept drafts stops if transactions of legal entities on their accounts and in other cases provided by legal acts are suspended;

1.4. the amount of obligations on issued, endorsed and avalized simple and to bills of exchange, and also the accepted bills of exchange which can be shown for payment shall not exceed for:

the legal entities registered in the Single state register of legal entities and individual entrepreneurs except banks, - net assets values less property value which it is seized, expected the first in which are performed issue, the endorsement and avalization simple and bills of exchange, and also the acceptance of bills of exchange; banks - 50 percent of equity of bank;

1.5. if other is not determined by the President of the Republic of Belarus:

physical persons, permanent or temporary living in the territory of the Republic of Belarus, have the right to pay on its own behalf simple and the drafts, their copies and copy of bill of exchange issued outside the Republic of Belarus or in its territory before entry into force of this Decree, to give the aval on such bills of exchange, their copies and copies, and also to perform concerning their other rights and obligations of the drawer, legal bill holder, endorsee, acceptor, guarantor and payer;

banks, not called in paragraph three of subitem 1.1 of this Item having the right to accept and pay simple and drafts, their copies and the copy of bill of exchange issued outside the Republic of Belarus or in its territory before entry into force of this Decree, to carry out concerning these bills of exchange of obligation according to the legislation;

1.6. the legal entities registered in the Single state register of legal entities and individual entrepreneurs including the legal entities who are performing accounting of bills of exchange, and also physical persons, constantly or temporarily living in the territory of the Republic of Belarus shall within three working days following behind day of payment, issue, other form of transfer or receipt of the bill of exchange, its copy or copy for the purpose of change of the property right or other corporeal rights to them to provide to the republican unitary enterprise "Republican Central Securities Depository" the document confirming details of the corresponding bill of exchange and (or) its copies, copies of bill of exchange (including endorsements and avals on these bills of exchange, copies and copies), copies of the agreement on alienation of the bill of exchange, its copies and copies, and also the act of their acceptance transfer or other document confirming the fact of obtaining, transfer or payment of the bill of exchange its copy and copy.

The documents submitted to the republican unitary enterprise "Republican Central Securities Depository" according to part one of this subitem shall be notarized;

Banks, the non-bank credit and financial organizations, the legal entities included by National Bank in the register of the legal entities performing accounting of bills of exchange submit documents to the republican unitary enterprise "Republican Central Securities Depository" according to part one of this subitem within seven working days. Notarial assurance of the submitted documents is not required;

1.7. ceased to be valid

1.8. issue, the acceptance, payment simple and bills of exchange, and also indorsing and making the aval by persons who have no right to it or issue simple and bills of exchange, their indorsing or avalization without providing with property according to the legislation attract imposing of penalty - in the amount of the bill amount;

1.9. issue simple and bills of exchange, their copies and copies of bill of exchange the legal entities registered in the Single state register of legal entities and individual entrepreneurs whose account transactions are suspended either indorsing or avalization by these persons simple and bills of exchange, acceptance of bills of exchange attract by them imposing of penalty - in the amount of the bill amount;

1.10. excess by the legal entities registered in the Single state register of legal entities and individual entrepreneurs of amount of obligations on issued, endorsed, avalized simple to both bills of exchange and the accepted bills of exchange, this Item established in subitem 1.4, attracts imposing of penalty - in the amount of 10 to 50 percent of the amount of excess;

1.11. non-presentation, untimely representation by the legal entities registered in the Single state register of legal entities and individual entrepreneurs, and physical persons, constantly or temporarily living in the territory of the Republic of Belarus, in the republican unitary enterprise "Republican Central Securities Depository" of the notarized documents specified in subitem 1.6 of this Item attract imposing of penalty - in the amount of 20 to 50 percent of the bill amount;

1.12. conducting administrative process on cases on the administrative offenses provided in subitems 1.8-1.11 of this Item is assigned on authorized officers of bodies of the State Control Committee, Department for securities of the Ministry of Finance and tax authorities.

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