RESOLUTION OF BOARD OF NATIONAL BANK OF THE REPUBLIC OF BELARUS

of October 3, 2023 No. 338

About funds of bank management

Based on paragraphs of the fourteenth and nineteenth 26, Article parts one 38, parts one of article 39 of the Bank code of the Republic of Belarus the Board of National Bank of the Republic of Belarus DECIDES: Articles

1. Approve the Instruction about creation of funds of bank management and trust management by them it (is applied).

2. In three-months time to provide to banks reduction of the rules of funds of bank management and information sent to National Bank registered on the date of entry into force of this resolution in compliance with this resolution.

3. This resolution becomes effective since January 1, 2024.

Approved by the Resolution of Board of National Bank of the Republic of Belarus of October 3, 2023 No. 338

The instruction about creation of funds of bank management and trust management of them

Chapter 1. General provisions

1. This Instruction governs the relations arising in case of consolidation of money and (or) securities in fund of bank management (further, unless otherwise specified, – fund) based on trust management agreements of fund, including the main conditions of creation of fund and trust management of it, the rights and the trustee's obligations fund, determination of share of the obligee in property of fund, disclosure and provision of information on fund and feature of trust management of fund.

2. For the purposes of this Instruction the terms below are used in the following values:

2.1. currency of fund – currency type (Belarusian ruble or one of types of foreign currency) in which the property value is expressed, contributed to fund;

2.2. the obligee – physical person, including the individual entrepreneur, or the legal entity who are owners of the money and (or) securities delivered in trust management of fund and also the other persons determined by legal acts;

2.3. the redemption of the equity certificate – the acquisition by the trustee by fund of the equity certificate at the obligee attracting discharge of the trust management agreement of fund and the term of its action;

2.4. the trustee fund – the bank having:

2.4.1. the special permission (license) for the implementation of banking activity granting the right to implementation issued by National Bank:

trust management of bank management of fund based on the trust management agreement of fund of bank management and attraction of money of physical persons and legal entities into accounts and in deposits (deposits) (in case of consolidation in fund of money of physical persons);

trust management of bank management of fund based on the trust management agreement of fund of bank management and attraction of money of legal entities into accounts and in deposits (deposits) (in case of consolidation in fund of money of legal entities);

2.4.2. the issued republican state body performing state regulation of the security market, the license for implementation of professional and exchange activity on securities (the constituting works and services – activities for trust management of securities) (in case of consolidation in fund of securities, and also making of transactions with securities in the course of trust management of fund);

2.5. the trust management agreement of fund – the agreement under which the obligee gives to the trustee by fund to certain term money and (or) securities to trust management with the compulsory provision of their subsequent consolidation to fund and the trustee fund shall for remuneration exercise control of this money and (or) securities for the benefit of the obligee or person specified to them;

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