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

of April 26, 2007 No. 942

About approval of the Regulations on share issue order of registration

According to Items 1, of 3, "About state regulation of the security market in Ukraine" and Article part nine 6, articles 28 and 29 of the Law of Ukraine "About securities and the stock market" State commission on securities and the stock market solved 5 parts two of article 7 of the Law of Ukraine:

1. Approve Regulations on order of registration of share issue it (is applied).

2. Recognize the order of State commission on securities and the stock market of 20.09.96 No. 210 "About approval of provisional regulations for order of registration of issue of securities and information on their release", registered in the Ministry of Justice of Ukraine 04.10.96 for No. 572/1597 (with changes), and the decision of State commission on securities and the stock market of 11.06.2002 No. 167 "About approval of the Regulations on order of registration of share issue of private companies", registered in the Ministry of Justice of Ukraine 16.07.2002 for No. 587/6875 (with changes), invalid.

3. To provide to the chief of staff of State commission on securities and the stock market Yu. Nazarenko:

submission of this decision on state registration in the Ministry of Justice of Ukraine;

publication of this decision according to the legislation.

4. Control over the implementation of this decision to assign to the Chief of staff of State commission on securities and the stock market Yu. Nazarenko.

Approved by the Decision of State commission on securities and the stock market of Ukraine of April 26, 2007 No. 942

Regulations on share issue order of registration

Section I. General provisions

1. This Provision developed according to Items 1, of 3, 5 parts two of article 7 of the Law of Ukraine "About state regulation of the security market in Ukraine", Article part nine 6, articles 28 and 29 of the Law of Ukraine "About securities and the stock market", the Civil code of Ukraine, the Economic code of Ukraine, the Laws of Ukraine "About economic societies" "About National depositary system and features of electronic security circulation in Ukraine", "About financial accounting and the financial reporting in Ukraine", "About assessment of property, property rights and professional estimative activity in Ukraine" and other legal acts, establishes requirements to registration of share issue of open joint stock companies and private companies (further - society) in case of increase or reduction of the authorized capital.

Action of this Provision does not extend much registration of share issue: during creation of joint-stock companies; during reorganization of joint-stock companies; in case of change of nominal value and number of shares without change of the size of the authorized capital; in case of increase in the size of the authorized capital in connection with indexation of fixed assets; the open joint stock companies created from the state companies in the course of privatization and corporatisation; the open joint stock companies created in the course of privatization of the state, rent companies and companies with the mixed pattern of ownership; open joint stock companies which are created by organization by body, authorized to manage objects of state-owned property, and the holding companies created in the course of corporatisation and privatization.

2. Registration of share issue, registration of the prospectus of the issue of shares, registration of changes to the prospectus of the issue of shares, registration of the report on results of open (public) share placing or registration of the report on results of the closed (private) share placing is performed by State commission on securities and the stock market (further - registering body) in connection therewith the Provision.

3. Registration of share issue, registration of the prospectus of the issue of shares, registration of changes to the prospectus of the issue of shares, registration of the report on results of open (public) share placing or registration of the report on results of the closed (private) share placing is the basis for entering of the relevant information into the State register of issues of securities.

4. Registration by registering body of share issue, the prospectus of the issue of shares, changes to the prospectus of the issue of shares, the report on results of open (public) share placing or the report on results of the closed (private) share placing cannot be considered as guarantee of their cost.

Responsibility for reliability of the data provided in documents which go for registration of release and the prospectus of the issue of securities is born by persons which signed these documents.

5. In case of the closed (private) share placing in case of increase in the size of the authorized capital of society at the expense of additional contributions registration of share issue and registration of the report on results of the closed (private) share placing is performed.

In case of open (public) share placing in case of increase in the size of the authorized capital of society at the expense of additional contributions registration of share issue, the prospectus of the issue of shares and registration of the report on results of open (public) share placing is performed. Registration of share issue and the prospectus of the issue of shares is performed at the same time.

In case of increase in the size of the authorized capital of society due to reinvestment of dividends or at the expense of the direction of profit in the authorized capital registration of share issue is performed, the report on results of share placing in registering body for registration is not submitted.

In case of reduction of the size of the authorized capital of society due to reduction of number of shares of the existing nominal value or reduction of share par value registration of share issue is performed, the report on results of share placing in registering body for registration is not submitted.

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