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DECISION OF THE NATIONAL COMMISSION ON SECURITIES AND STOCK MARKET OF UKRAINE

of February 22, 2022 No. 135

About approval of Licensed conditions of implementation of professional activity in the capital markets - activities for property management for financing of construction objects and/or implementation of real estate transactions

According to Item 13 parts one of article 8 of the Law of Ukraine "About state regulation of the capital markets and the organized goods markets", Item 18 of the Section XIII "Final and transitional provisions" of the Law of Ukraine "About the capital markets and the organized goods markets" the National commission on securities and the stock market solved:

1. Approve Licensed conditions of implementation of professional activity in the capital markets - activities for property management for financing of construction objects and/or implementation of real estate transactions which are applied.

2. For the purposes of these Licensed conditions length of service in the markets of financial services, namely property services for financing of construction objects and/or implementation of real estate transactions, is equated to length of service in the capital markets.

3. For the purposes of these Licensed conditions length of service in financial organizations / the professional participants of the stock market performing activities for property management for financing of construction objects and/or implementation of real estate transactions or in self-regulatory organizations or associations which united such financial organizations / professional participants of the stock market is equated to length of service in the subjects of managing performing professional activity in the capital markets or in associations (associations) of persons which perform professional activity in the capital markets.

4. The legal entities having licenses for implementation of professional activity in the capital markets - activities for property management for financing of construction objects and/or implementation of real estate transactions, shall:

bring the internal documents into accord with these Licensed conditions within six months after entry into force of this decision if other is not established by standards of corporate management in professional participants of the capital markets and the organized goods markets;

bring structure of property into accord with requirements of these licensed conditions within six months after entry into force of this decision if in structure of property of such person there is foreign legal person(s) and/or physical person(s) - the foreigner(s) - within year.

Requirements of these Licensed conditions of rather seed capital are applied only to legal entities who intend to perform activities for property management for financing of construction objects and/or implementation of real estate transactions and submitted to NKTsBFR the application and the relevant documents for receipt of the license.

5. To department of methodology of regulation of professional participants of the security market () provide Kurochkin I.:

submission of this decision on state registration in the Ministry of Justice of Ukraine;

promulgation of this decision on the official website of the National commission on securities and the stock market.

6. This decision becomes effective from the date of its official publication.

7. Control over the implementation of this decision to assign to the member of the National commission on securities and the stock market Ilyin A.

 

It is approved: First Deputy Minister of digital transformation of Ukraine

A. Vyskub

Chairman of the Antimonopoly Committee of Ukraine

O. Pishchanskaya

Chairman of Public service of financial monitoring of Ukraine

I.Cherkassky

Approved by the Decision of the National commission on securities and the stock market of Ukraine of February 22, 2022 No. 135

Licensed conditions of implementation of professional activity in the capital markets - activities for property management for financing of construction objects and/or implementation of real estate transactions

I. General provisions

1. These Licensed conditions establish the requirements obligatory for accomplishment in case of receipt of the license for implementation of professional activity in the capital markets - activities for property management for financing of construction objects and/or implementation of real estate transactions (further - the license), when implementing professional activity in the capital markets - activities for property management for financing of construction objects and/or implementation of real estate transactions (further - activities for property management), features of combination of such activities with separate types of professional activity in the capital markets and the list of documents which are filed by the applicant for receipt of the license.

2. In these Licensed conditions terms are used in the following values:

the separate division of the applicant / litsenziata-filial, other division of the legal entity located out of its location is not included into internal organizational structure and performs everything or part of its functions on implementation of activities for property management, except specialized structural division;

providing continuity of activities availability at the applicant/licensee of the reserve information and communication systems or other effective remedies providing implementation of its professional activity without failures;

the applicant - the legal entity created by the legislation of Ukraine which intends to perform activities for property management also submitted to NKTsBFR the application and the relevant documents for receipt of the license;

failure - unplanned business disruption of the licensee which leads to interruption in provision by such licensee of services including violation of implementation of the functions transferred on outsourcing, and/or violation of functioning or delay in work of information and communication system of the licensee (including transferred to outsourcing) is caused by unavailability of software and hardware complexes, personnel, rooms, service providers or data-processing centers, damage or loss of crucial information or documents, etc.;

the leading official persons persons performing executive functions, and the faces performing supervising functions;

the applicant's head / litsenziata-litso, performing function of sole executive body, or the chairman of collegiate executive body of the applicant/licensee;

the licensee - the legal entity created by the legislation of Ukraine, having the license obtained in the procedure established by the legislation;

the mediated essential participation ownership in the applicant/licensee which comes if person or group of persons directly or indirectly owns share (shares) in the authorized capital of one or several legal entities in structure of property of the legal entity of the applicant/licensee in such size which provides opportunity to control through this person (these persons) of 10 and more percent of the authorized capital of the applicant/licensee;

persons, the performing supervising functions chairmen and members of the supervisory board (or other body responsible for implementation of supervision of the legal entity according to internal documents of the licensee), other persons having powers on determination of strategy, the purposes and general activity of the legal entity watch process of acceptance of management decisions and control this process;

officials of the applicant / litsenziata-fizicheskiye persons chairmen and members of the supervisory board or other body responsible for supervision implementation, the chairman and members of collegiate executive body (person performing powers of sole executive body and his deputies), the corporate secretary, the chief accountant, the chairman and members of other bodies of the applicant/licensee, education and which competence are provided by its charter;

permanency of provision of services providing by the licensee of opportunity to interact with the client in the licensee or via any means of communication determined by the relevant agreement signed with the client on permanent basis according to the working schedule of the licensee;

the room part of unobstructed capacity of the building, limited to construction elements, with possibility of entrance and exit which is used by the licensee (including its isolated and/or specialized structural divisions) when implementing activities for property management;

the direct owner of the applicant / litsenziata-litso which is the owner of share (shares) in the authorized capital of the applicant/licensee;

the public company is:

public joint stock company;

the foreign legal entity who is the issuer of the shares admitted to trading on at least one of the following controlled markets:

New York Stock Exchange (NYSE);

Hong Kong Exchanges and Clearing;

London Stock Exchange (LSE);

Japan Exchange Group;

the controlled markets entering into Nasdaq, Inc.;

the controlled markets of the country entering the European Union;

controlled markets of Switzerland;

specialized structural division of the applicant / litsenziata-departament, the management, department, the sector etc. which is integral part of internal organizational structure of the applicant/licensee or its separate division and having other location, than the licensee or its separate division;

length of service on executive positions - length of service as the leading official and/or as deputy of the leading official of the professional participant of the capital markets, and/or as head and/or deputy manager of the isolated, specialized structural and/or functional division of the professional participant of the capital markets and/or as in associations (associations) of persons performing professional activity in the capital markets which received the status of self-regulatory organization and/or to positions of public service categories B in State commission on securities and the stock market and/or NKTsBFR and/or State commission on regulation of the markets of financial services of Ukraine and/or the National commission performing regulation in the sphere of the markets of financial services and/or to positions of the Chairman or member of such commission are not lower than the head and/or the deputy manager;

length of service in the markets of the capital is general length of service of physical person which includes:

length of service on executive positions and/or as specialist in the professional participant of the capital markets;

and/or length of service on executive positions and/or as specialist in associations (associations) of persons performing professional activity in the capital markets;

and/or to positions of public service in State commission on securities and the stock market and/or NKTsBFR and/or state commission on regulation of the markets of financial services of Ukraine and/or the National commission performing regulation in the sphere of the markets of financial services and/or to positions of the chairman or member of such commission;

participation in the authorized capital - the direct and/or mediated ownership of one person independently or together with other persons of shares (shares) in the authorized capital of the legal entity;

the specialist worker of the applicant/licensee having the sufficient level of knowledge and skills for implementation of actions (transactions) which are connected with direct implementation of activities for property management.

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