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RESOLUTION OF BOARD OF THE NATIONAL BANK OF UKRAINE

of February 2, 2024 No. 16

About approval of the Regulations on reorganization and liquidation of credit union according to the decision of general meeting of credit union members

According to Articles 7, of 15, 55-1, 56 of the Law of Ukraine "About the National Bank of Ukraine", Articles 21, 23 Laws of Ukraine "About financial services and finance companies", Articles 37, 55-57 Laws of Ukraine "About credit unions", for the purpose of establishment of conditions, procedure and requirements to reorganization and liquidation of credit union according to the decision of general meeting of credit union members the Board of the National Bank of Ukraine decides:

1. Approve Regulations on reorganization and liquidation of credit union according to the decision of general meeting of credit union members which is attached.

2. The procedure of the termination of credit union by reorganization or liquidation according to the decision of general meeting of credit union members begun by credit union by day of enforcement of the Law of Ukraine "About credit unions" comes to the end according to provisions of the legislation of Ukraine existing about day of enforcement of the Law of Ukraine "About credit unions".

3. To department of methodology of regulation of activities of non-bank financial institutions (Sergey Savchuk) after official publication to inform credit unions information on adoption of this resolution.

4. The resolution becomes effective from the date of, its official publication following behind day.

Approved by the Resolution of Board of the National Bank of Ukraine of February 2, 2024 No. 16

Regulations on reorganization and liquidation of credit union according to the decision of general meeting of credit union members

I. General provisions

1. This Provision is developed according to the Law of Ukraine "About credit unions" (further - the Law on credit unions).

2. Terms in this Provision are used in the following values:

1) voluntary exit of credit union from the market termination of implementation of activities of credit union by credit union in connection with the termination of credit union as legal entity by reorganization or liquidation of credit union according to the decision of general meeting of members of such credit union;

2) merge of the credit unions reorganization of credit unions, providing creation of the new credit union legal successor with transfer to it of all property, all rights and obligations of the credit unions stopped as a result of merge;

3) the credit union legal successor is:

credit union to which all property, all rights and obligations of the reorganized credit unions is transferred (in case of implementation of reorganization by merge);

credit union into which as a result of reorganization passes all property, the rights and obligations of the reorganized credit union (the reorganized credit unions) (in case of implementation of reorganization by accession);

4) credit union - the participant of reorganization is:

the reorganized credit unions (in case of reorganization by merge);

the reorganized credit union and the legal successor of credit union (in case of reorganization by accession of credit union);

5) the liquidated credit union - credit union which intends to stop implementation of activities of credit union and to perform the termination of credit union as legal entity according to the decision of general meeting of members of such credit union;

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