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LAW OF UKRAINE

of November 21, 1996 No. 537/96-BP

About the state guarantees of recovery of savings of citizens of Ukraine

(as amended on 07-06-2012)

Article 1. Based on this Law obligations of the state to citizens of Ukraine who as a result of depreciation lost the cash savings placed in the period till January 2, 1992 in the organizations of Savings bank of the USSR and national insurance of the USSR operating in the territory of Ukraine and also in the government securities acquired in the organizations of Savings bank of the USSR operating in the territory of Ukraine including the bond of the State target non-interest loan of 1990, the bond of the State internal premium bonds of 1982, the state treasury obligations of the USSR, certificates of Savings bank of the USSR are established.

Compensations are subject also cash savings of citizens of Ukraine placed in organizations of Savings bank of Ukraine and the former Ukrgosstrakh during 1992-1994 and which were on accounts of the specified organizations it is at least one complete calendar year during 1992-1995.

Operation of this Law extends to foreign citizens and persons without citizenship who condition for January 2, 1992 had savings in the organizations of Savings bank of the USSR and national insurance of the USSR operating in the territory of Ukraine.

Article 2. The state shall provide preserving and recovery of actual cost of savings of citizens and guarantees their compensation in accordance with the established procedure.

Article 3. Determine that the savings of citizens specified in part one of article 1 of this Law are recovered in the ratio 1 karbovanets of savings on 1, of the 05th hryvnia as of October 1, 1996.

Article 4. Compensation of the savings of citizens specified in part one of article 1 of this Law is carried out according to the procedure, established by articles 6 and 7 of this Law, and guaranteed by the state in the amount which for October 1, 1996 constitutes 131, 96 billion hryvnias, including:

cash savings - 121,90;

insurance premiums - 7,77;

bonds of the State target non-interest loan of 1990 - 0,61;

bonds of the State internal premium bonds of 1982 - 1,05;

the state treasury obligations of the USSR - 0,21;

certificates of Savings bank of the USSR - 0,42.

Article 5. Organizations of Savings bank of Ukraine based on this Law within December, 1996 - March, 1997 carry out one-time indexation of deposits of citizens. On the indexed amounts which are on the off-balance account of Savings bank of Ukraine, the savings book is issued to the investor.

Article 6. Compensation to citizens of Ukraine of losses from depreciation of cash savings is carried out since 1997 in cash at the expense of means of the Government budget of Ukraine and other forms according to the legislation.

Compensation of losses from depreciation of the cash savings placed till January 2, 1992 in the organizations of Savings bank of the USSR operating in the territory of Ukraine and also is carried out to the government securities acquired in such organizations them to owners in cash or non-cash form through organizations of Savings bank of Ukraine after entering into the information analytical system "Register of Investors of Savings of Citizens" of information about them necessary for identification of the investor during opening of the account. The servicing of citizens connected with introduction of the specified data is performed free of charge.

Means for compensation of savings of citizens are determined in the Government budget of Ukraine by the individual clause.

The procedure for carrying out compensation, including money transfer, provided in the Government budget of Ukraine, to organizations of Savings bank of Ukraine and the former Ukrgosstrakh, is determined by the Cabinet of Ministers of Ukraine.

The Cabinet of Ministers of Ukraine can raise for carrying out compensation payments extrabudgetary funds, including funds raised in the Government budget of Ukraine through the specific taxes established by the laws of Ukraine and also from implementation of transactions with government securities.

Repayment of the recovered savings of the citizens placed in securities is performed in accordance with general practice according to the amounts determined in the Government budget of Ukraine.

Article 7. Savings return step by step, depending on the deposit amount within the means provided for this purpose by the Government budget of Ukraine the current year.

The list of groups of investors and procedure for carrying out payments of the indexed cash savings, and also amount of payments according to article 8 of this Law within the means provided by the Government budget of Ukraine are established by the Cabinet of Ministers of Ukraine.

Article 8. In case of the death of the investor heirs or other persons, representatives of local executive bodies, local government bodies or public organizations which undertook the organization of funeral can receive on condition of presentation of the savings book or the insurance certificate of the investor and the certificate on his death in organizations of Savings bank of Ukraine and the being Ukrgosstrakh on the location of contribution or insurance premium part of the indexed contribution or insurance premium for the organization of funeral and holding funeral and ritual actions, necessary according to national traditions, which size is determined by the Cabinet of Ministers of Ukraine, but it is at least size of the subsistence minimum for persons which lost working capacity established by the law.

Article 8-1. Determine that in 2008 compensation of losses from depreciation of the cash savings placed in the period till January 2, 1992 in organizations of Savings bank of the USSR which operated on the territory of Ukraine, and in the government securities acquired in the territory of Ukraine: bonds of the State target non-interest loan of 1990, the state treasury obligations of the USSR, certificates of Savings bank of the USSR, it is carried out them to owners as of January 1, 2008 in cash or non-cash form in national or foreign currency on the official exchange rate of the National Bank of Ukraine within account balances, but it is no more than 1000 hryvnias on the investor according to the procedure, determined by the Cabinet of Ministers of Ukraine.

The procedure for carrying out calculations for repayment of obligations of the state on the depreciated savings of citizens over the size established in paragraph one of this Article is established by the Cabinet of Ministers of Ukraine on account of partial payment for purchase of goods of long-term use, including housing, according to the list of groups of goods established by the Cabinet of Ministers of Ukraine.

Article 9. This Law becomes effective from the date of publication.

 

President of Ukraine L. Kuchma

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

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