RESOLUTION OF BOARD OF THE NATIONAL BANK OF UKRAINE

of December 30, 2003 No. 597

About money transfer in national and foreign currency for benefit of nonresidents on some transactions

According to articles 30 and 44 of the Law of Ukraine "About the National Bank of Ukraine" and articles 11 and 13 of the Decree of the Cabinet of Ministers of Ukraine of 19.02.93 "About system of currency control and currency exchange control", for the purpose of prevention of capital outflow and increase in transparency of payments under the agreements providing performance of works, provision of services, assignment of rights of intellectual property by nonresidents and in pursuance of separate liabilities of residents before nonresidents on bills of exchange, and also the prevention of possible actions concerning money laundering the Board of the National Bank of Ukraine DECIDES: No. 15-93

1. (Further - banks) means in national and foreign currency in advantage (into the account) nonresidents as at the request of residents - subjects of business activity, and on accomplishment of own obligations concerning payment for work, services (including services in sale of goods on credit, cessions of property in lease, in leasing, provision in use of intellectual property rights), intellectual property rights under agreements which provide their accomplishment, provision, transfer by nonresidents such documents are considered as the basis for the translation by authorized banks and other financial institutions:

the contract with the nonresident which is drawn up according to requirements of the current legislation of Ukraine or other document which according to the current legislation of Ukraine is valid the agreement;

the documents testimonial of actually provided services, the performed works or the transferred intellectual property rights.

In national and foreign currency in advantage (into the account) nonresidents as at the request of residents - subjects of business activity, and on accomplishment of own obligations on the bills of exchange issued for registration of debt of resident to the nonresident concerning fee, works, intellectual property rights such documents are considered as the basis for convertion of means by banks:

the contract with the nonresident which is drawn up according to requirements of the current legislation of Ukraine (or other document which according to the current legislation of Ukraine is valid the agreement) which conditions provide carrying out calculations for the provided services, the performed works or the transferred intellectual property rights with use of bills of exchange;

the bill of exchange issued according to conditions of such agreement;

the documents testimonial of actually provided services, the performed works or the transferred intellectual property rights.

The basis for carrying out the specified in paragraphs one and the fourth this Item of transactions on payment for work, services, intellectual property rights and/or accomplishment of obligations in the bill of exchange which draws up debt of resident to the nonresident behind such payment at the request of the investor (representation of the foreign investor in the territory of Ukraine) under the production sharing agreement are the following documents:

the contract with the nonresident (or other document, according to the right which is subject to application is valid the agreement), by which conditions carrying out calculations for the provided services can be provided, the performed works or intellectual property rights with use of bills of exchange are transferred;

the bill of exchange if its issue is provided by conditions of such agreement.

2. In case of implementation of import transactions on the terms of delivery delay shall submit the documents specified in paragraph three of Item 1 of this resolution, resident to the time of calculations established by the Law of Ukraine "About procedure of payments in foreign currency".

3. For the purposes of this resolution of service (work), acquired within calendar year by the resident - the subject of business activity under the agreements signed with the same person provided that services (work) which are acquired, belong to one subclass (to one class if the class is not divided into subclasses, or one group if the group is not divided into classes, or to one Section if the Section is not divided into groups) Classifications of services of foreign economic activity of recreation center 012-97, approved by the order of the State committee of Ukraine on standardization, metrology and certification of 02.06.97 No. 324, are considered acquired under the single agreement. The regulation of this Item does not extend to agreements, calculation for which was begun before entry into force of this resolution.

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