of October 25, 2000 No. 441-Z
Accepted by the House of Representatives on October 3, 2000
Approved by Council of the Republic on October 12, 2000
The relations regulated by the bank law constitute system of the economic public relations on mobilization and use of temporarily free money. The bank law determines the principles of banking activity, legal status of subjects of bank legal relationship, governs the relations between them, and also establishes procedure for creation, activities, reorganization and liquidation of banks and non-bank credit and financial organizations.
The property relations and the related non-property relations arising when implementing banking activity are regulated by also civil legislation taking into account the features provided by this Code.
The relations connected with use of securities, budgetary and currency funds and also other relations connected with activities of banks and non-bank credit and financial organizations are regulated by the special legislation if other is not provided by this Code.
The bank law of the Republic of Belarus - system of the regulatory legal acts governing the relations arising when implementing banking activity, and establishing the rights, obligations and responsibility of subjects and participants of bank legal relationship.
Treat acts of the bank law:
legal acts of the Republic of Belarus;
orders of the President of the Republic of Belarus which have normative character;
orders of the Government of the Republic of Belarus;
regulatory legal acts of National Bank of the Republic of Belarus (further - National Bank);
the regulatory legal acts adopted by National Bank together with the Government of the Republic of Belarus or republican state bodies on the basis and in pursuance of of this Code and other legal acts of the Republic of Belarus.
The Republic of Belarus recognizes priority of the conventional principles of international law and provides compliance to them of the bank law.
The regulations of the bank law containing in the international treaties of the Republic of Belarus which became effective are part of the bank law operating in the territory of the Republic of Belarus, are subject to direct application, except as specified, when follows from the international treaty that application of such regulations requires acceptance (edition) of interstate regulatory legal act, and are valid that regulatory legal act which expresses the consent of the Republic of Belarus to obligation for it the corresponding international treaty.
Monetary policy of the Republic of Belarus - component of single state economic policy.
The legal basis of monetary policy of the Republic of Belarus are the Main directions of monetary policy of the Republic of Belarus which are annually approved by the President of the Republic of Belarus on representation of National Bank and Government of the Republic of Belarus.
The main directions of monetary policy of the Republic of Belarus contain the most important parameters of development of the monetary sphere, determine the purposes, tasks and priorities of monetary policy of the state and provide the complex of actions and mechanisms of regulation and control providing their realization.
Bank system of the Republic of Belarus - component of financial credit system of the Republic of Belarus. The bank system of the Republic of Belarus is two-level and includes National Bank and other banks.
The financial credit system of the Republic of Belarus except banks includes also the non-bank credit and financial organizations.
Subjects of bank legal relationship are the National Bank, banks and the non-bank credit and financial organizations.
The Republic of Belarus, its administrative and territorial units, including on behalf of state bodies, and also physical persons, individual entrepreneurs and legal entities can be participants of bank legal relationship.
The rules of this Code applied to physical persons are applied to individual entrepreneurs if other is not provided by this Code.
The National Bank is Central Bank and state body of the Republic of Belarus. The National Bank governs credit relations and currency circulation, determines procedure of payments. The National Bank has exclusive right of currency issue and performs other functions provided by this Code and other legal acts of the Republic of Belarus.
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