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

of August 9, 2023 No. 875

About approval of the Regulations on the termination of non-state pension funds

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", the paragraph of the fourth of part five of Article 6 and part six of article 17 of the Law of Ukraine "About non-state pension provision" the National commission on securities and the stock market RESHILA:

1. Approve the enclosed Regulations on the termination of non-state pension funds.

2. According to the procedure of maintaining registers of members of the capital markets and the organized goods markets, No. approved by the decision of the National commission on securities and the stock market of August 26, 2021 700, registered in the Ministry of Justice of Ukraine on October 26, 2021 at No. 1385/37007:

1) in the Section V:

in Item 3:

"fifth" to replace the word with the word "fourth";

"sixth" to replace the word with the word "fifth";

in item 4:

after subitem 3 to add with the subitem 4 following of content:

"4) the report on accomplishment of the plan of the termination of non-state pension fund by accession (in case of the termination by accession or merge);".

With respect thereto to consider subitems 4-6 respectively subitems 5-7;

exclude subitem 6.

With respect thereto to consider subitem 7 subitem 6;

in subitem 6 of the word "The national commission performing state regulation in the sphere of the markets of financial services of Ukraine" shall be replaced with words "The national commission performing state regulation in the sphere of the markets of financial services";

add Item 6 with the new paragraph of the following content:

"In case of the termination of NPF by accession or merge, its exception of the register of financial institutions and of the register of NPF is performed on condition of accomplishment of the plan of the termination of non-state pension fund by accession.";

2) in appendix 6:

after subitem 2 to add with the subitem 3 following of content:

"3) the report on accomplishment of the plan of the termination of non-state pension fund by accession (it is provided in case of the termination by accession or merge);".

With respect thereto to consider subitems 3-5 respectively subitems 4-6;

exclude subitem 5.

With respect thereto to consider subitem 6 subitem 5.

3. Declare invalid the order of State commission on regulation of the markets of financial services of Ukraine of August 29, 2006 No. 6154 "About approval of the Procedure of the separate actions connected with the termination of non-state pension funds", registered in the Ministry of Justice of Ukraine on September 19, 2006 at No. 1058/12932.

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

submission of this decision for implementation of examination on compliance of the Convention on human rights protection and fundamental freedoms of 1950 and to protocols to it in the secretariat of the representative for cases of the European Court of Human Rights of the Ministry of Justice of Ukraine;

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.

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

6. Control over the implementation of this decision to assign to the member of the National commission on securities and the stock market Boyko Yu.

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

O. Vyskub

Approved by the Decision of the National commission from securities of the stock market of Ukraine of August 9, 2023 No. 875

Regulations on the termination of non-state pension funds

I. General provisions

1. This Provision determines features of holding procedure of the termination of non-state pension fund (further - the pension fund) as legal entity by its liquidation or by reorganization, namely accession to other pension fund or merge to other pension fund(s), the sequence of actions and organizational actions which need to be performed for preparation and carrying out the termination of the pension fund.

2. In this Provision terms are used in the following values:

the commission on the termination - liquidation commission of the pension fund in case of its liquidation or the commission on reorganization of the pension fund in case of its termination by accession to other pension fund or merge of 2 or more pension funds which is formed according to the Section II of this provision;

liquidation termination of the pension fund from which its termination as the legal entity without legal succession results;

the serving companies administrators, the company(companies) on asset management or other person having the license for implementation of professional activity in the markets of the capital activities on asset management of institutional investors (activities for asset management) (further - person exercising asset management of the pension fund), and the keeper of the pension fund with which council of the pension fund signs the relevant contracts on servicing of the pension fund;

The authorized body is the body having powers to make the decision on the termination of the pension fund, namely, governing body of the individual founder (the legal successor of the individual founder) of the pension fund, authorized to accept the meetings of founders of the pension fund of the decision carried to competence, or meeting of founders (legal successors of founders) of the pension fund, either court, or the National commission on securities and the stock market in the cases provided by the Law of Ukraine "About non-state pension provision" (dalee-Zakon);

Other terms in this Provision are used in the values given in the Law.

3. The termination of the pension fund as legal entity results only from it:

liquidations;

accession to other pension fund of the same type (further - the pension fund - the legal successor) and transfers of all its rights and obligations to such pension fund - the legal successor (further - accession);

merges to other pension fund(s) of the same type that also stops as legal face(s) as a result of such merge, and transfer of all rights and obligations of the pension funds stopped by merge in the pension fund of the same type created owing to such merge (the pension fund - the legal successor) (further - merges).

The termination of the pension fund by its separation or transformation to the Pension fund of other type is not allowed.

The termination of the pension fund by accession to other pension fund or merges to other pension fund(s) perhaps only in the presence at the pension fund - the legal successor of the operating serving companies.

4. The procedure for the termination of the pension fund is determined by its charter.

II. Procedure for education, structure, powers and procedure for functioning of the commission on the termination

1. The authorized body makes the decision on the termination of the pension fund according to requirements of the law and about appointment of structure of the commission on the termination, and also person of the commission chairman's position for the termination from among her members. The commission on the termination is formed in number of at least 3 people.

2. In structure of the commission on the termination is designated person who:

is capable;

has faultless goodwill in understanding of the Law of Ukraine "About prevention and counteraction of legalization (washing) of income gained in the criminal way, to financing of terrorism and financing of distribution of weapons of mass destruction". Availability of the specified sign is established for the last three calendar years, preceding assessment of goodwill of person;

within the last 7 years was not the head of the legal entity declared bankrupt or subjected to the procedure of involuntary liquidation during stay of this person on executive position;

has the higher education not below the sixth level according to the National frame of the qualification approved by the resolution of the Cabinet of Ministers of Ukraine of November 23, 2011 No. 1341, and/or the second cycle of the higher education of the Frame of qualifications of the European space of the higher education and work experience in the sphere of non-state pension provision at least 3 years;

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