of March 12, 1992 No. 1512-XII
About securities and stock exchanges
This Law determines single procedure for release and security circulation, regulation of activities of professional participants of the security market, and also the principles of the organization and activities of stock exchange.
The purpose of this Law is assistance to development in the republic of the security market by mobilization of financial resources, their redistribution and effective use, establishment of legal guarantees of investor protection.
The law establishes necessary requirements to persons performing release and professional activity on securities, creates conditions for the organization in the republic of necessary structures for implementation of transactions with securities.
1. The issuer of securities - the legal entity who on its own behalf issues securities also shall fulfill the obligations following from conditions of issue of securities.
2. The investor - the physical person or legal entity owning securities.
3. Securities (shares, bonds) - the documents certifying expressed in them and property rights or the relations of loan of the owner of security realized by means of presentation or transfer in relation to the issuer.
Securities can be issued in the form of the forms printed on paper or in the form of records on accounts.
In case of security circulation in the form of records on accounts the owner of securities can exercise the property rights in relation to the issuer through the specialized organizations performing storage, accounting and calculations for transactions with securities.
4. Securities are considered as documents to bearer if for realization of the property rights connected with their ownership there is enough presentation of security.
Securities are nominal if registration of name of the owner by the issuer or according to its order - the organization performing professional activity on securities is necessary for realization of the property rights connected with their ownership. Transfer of security from one owner to another is reflected change of the corresponding records in accounting.
5. Professional activity on securities - carrying out transactions with the financial assets recognized by securities or their derivatives, the third parties according to the legislation of the Republic of Belarus and also implementation of the works and services connected with such transactions for the purpose of income acquisition (except for the income in type of percent or the dividend).
1. The relations connected with release and security circulation, professional activity of members of the security market are regulated by this Law and other legal acts existing in the territory of the Republic of Belarus.
2. Operation of this Law extends to activities with the following types of securities:
a) shares according to determination of article 3 of this Law;
b) bonds according to determination of article 5 of this Law.
3. This Law does not regulate release and the circulation of bonds of the internal state loans, other securities issued or guaranteed by the Government of the Republic of Belarus, National Bank of the Republic of Belarus, and also other types of securities and lotteries.
4. The government of the Republic of Belarus and National Bank of the Republic of Belarus establish quotas and procedure for the admission to the address in the territory of the Republic of Belarus of the securities issued by foreign issuers and also quotas and procedure for the admission to the address out of the territory of the Republic of Belarus of the securities issued by the issuers who are under jurisdiction of the Republic of Belarus.
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