PRESIDENTIAL DECREE OF THE REPUBLIC OF BELARUS

of September 13, 2023 No. 285

About special accounts

For the purpose of enhancement of state regulation of the public relations affected by application of special rationing measures I decide:

1. Approve Regulations on procedure for functioning of the current (settlement) bank accounts with the special mode of functioning it (is applied).

2. This Decree becomes effective after its official publication.

Approved by the Presidential decree of the Republic of Belarus of September 13, 2023 No. 285

Regulations on procedure for functioning of the current (settlement) bank accounts with the special mode of functioning

1. This Provision determines procedure for functioning of the current (settlement) bank accounts with the special mode of functioning opened in case of application of special restrictive measure by the Republic of Belarus in the form of establishment of restrictions for making of financial transactions on obtaining by foreign participants, owners of property * profits and (or) dividends:

legal entities of the Republic of Belarus (except for banks) (further - residents) for obligation fulfillment on payment to the shared (added) profit and (or) dividends to foreign participants, owners of property (further if other is not provided, - special accounts of residents);

foreign participants, owners of property for receipt of money from special accounts of residents (further if other is not provided, - special accounts of foreign participants, owners of property).

2. Special accounts of residents are opened in Belarusian rubles in any bank of the Republic of Belarus irrespective of availability in banks of decisions (resolutions) on suspension of account transactions of residents **, resolutions (determinations) on seizure of the money which is on accounts of the residents accepted (taken out) by the bodies (officials) authorized according to legal acts.

The resident has the right to open only one special account of resident for obligation fulfillment, 1 this provision specified in the paragraph the second Item, concerning each foreign participant, the owner of property.

______________________________

* Foreign participants, owners of property are understood as the participants, owners of property of legal entities of the Republic of Belarus (except for banks) who are according to the paragraph third Item 1 of article 3 of the Law of the Republic of Belarus of July 12, 2023 No. 280-Z "About application of special rationing measures" persons from the foreign states making unfriendly actions.

** Including in the presence of information on such decisions obtained from the automated information system "Interaction".

3. For receipt of money from special accounts of residents the foreign participant, the owner of property has the right to open the special account of the foreign participant, owner of property in Belarusian rubles in any bank of the Republic of Belarus, having directed the corresponding application to bank.

Special accounts of foreign participants, owners of property open irrespective of availability in banks of decisions (resolutions) on suspension of account transactions of foreign participants, owners of property *, resolutions (determinations) on seizure of the money which is on accounts of foreign participants, the owners of property accepted (taken out) by the bodies (officials) authorized according to legal acts.

The foreign participant, the owner of property has the right to open only one special account of the foreign participant, the owner of property.

The resident shall within ten working days from the date of the address of the foreign participant, the owner of property with indication of details of the special account of the foreign participant, the owner of property opened for them to transfer money into this special account.

______________________________

* Including in the presence of information on such decisions obtained from the automated information system "Interaction".

4. The money enlisted into special accounts of residents has purpose and is transferred into special accounts of foreign participants, owners of property as the shared (added) profit and (or) dividends, and also into the current (settlement) bank accounts according to parts one and the second Item 9 of this provision.

5. The money enlisted according to Item part four 3 this provision into special accounts of foreign participants, owners of property can be used by them:

5.1. on financing of implementation of investment projects in the territory of the Republic of Belarus;

5.2. on debt repayment on the loans granted by JSC Development Bank Republic of Belarus, and also banks according to decisions of the President of the Republic of Belarus;

5.3. on acquisition of the government securities of the Republic of Belarus emitted for the purposes of implementation of the resolution of Council of Ministers of the Republic of Belarus on application of the special restrictive measure specified in paragraph one of Item of 1 this provision. The address of these government securities is not performed;

5.4. on placement in irrevocable bank deposits (deposits) for the term of at least one year in bank in which the special account of the foreign participant, the owner of property is opened. Return of contribution (deposit), and also percent on such contribution (deposit) is performed:

before expiration of the special restrictive measure specified in paragraph one of Item of 1 this provision into the special account of the foreign participant, owner of property;

after effective period of the special restrictive measure specified in paragraph one of Item of 1 this provision on the current (settlement) bank account of the foreign participant, owner of property;

5.5. on other purposes approved by Council of Ministers of the Republic of Belarus with the President of the Republic of Belarus.

6. It is not allowed:

transfer to the special account of resident and the special account of the foreign participant, owner of property of other money, except listed according to the paragraph to the second Item 1, item 4 and the paragraph the second subitem 5.4 of Item 5 of this provision;

transfer from the specified special accounts of money to the purposes which are not provided in Items 4, of the 5 and 7 this provision.

7. Return of the money enlisted into special accounts of residents and special accounts of foreign participants, owners of property as a result of technical mistake is performed from these special accounts in accordance with the established procedure and is not inappropriate use.

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