Document from CIS Legislation database © 2003-2022 SojuzPravoInform LLC

RESOLUTION OF THE MINISTRY OF FINANCE OF THE REPUBLIC OF BELARUS AND BOARD OF NATIONAL BANK OF THE REPUBLIC OF BELARUS

of February 13, 2008 No. 18/25

About approval of the Instruction about procedure professional participants of the security market of the separate cash accounting

(as amended on 25-08-2016)

Based on the Regulations on the Ministry of Finance of the Republic of Belarus approved by the resolution of Council of Ministers of the Republic of Belarus of October 31, 2001 No. 1585 "Questions of the Ministry of Finance of the Republic of Belarus", article 26 of the Bank code of the Republic of Belarus the Ministry of Finance of the Republic of Belarus and Board of National Bank of the Republic of Belarus of POSTANOVLYAYUT:

1. Approve the enclosed Instruction about procedure as professional participants of the security market of the separate cash accounting.

2. The professional participants of the security market performing the professional and exchange activity on securities having broker activities, depository activity, activities for trust management of securities as the constituting works and services shall open accounts (sub-accounts) for ensuring separate accounting of own money and money of the clients under the agreements signed before entry into force of this resolution according to requirements of the above-named Instruction no later than two months from the date of entry into force of this resolution.

3. Control of observance of requirements of this resolution is exercised by the Ministry of Finance of the Republic of Belarus and National Bank of the Republic of Belarus according to the legislation of the Republic of Belarus.

4. Declare invalid the resolution of Committee on securities under Council of Ministers of the Republic of Belarus and Board of National Bank of the Republic of Belarus of June 21, 2002 No. 13/P/114 "About approval of the Regulations on segregation of accounts of money of professional participants of the security market and their clients" (The national register of legal acts of the Republic of Belarus, 2002, No. 86, 8/8281).

5. This resolution becomes effective from the date of its official publication.

Minister of Finance of the Republic of Belarus

N.P.Korbut

Chairman of the board of National Bank of the Republic of Belarus

P.P.Prokopovich

 

Approved by the Resolution of the Ministry of Finance of the Republic of Belarus and Board of National Bank of the Republic of Belarus of February 13, 2008 No. 18/25

The instruction about procedure professional participants of the security market of the separate cash accounting

Chapter 1. General provisions

1. This Instruction determines procedure for maintaining by the legal entities performing broker activities, depository activity according to the legislation on securities (in case of rendering services by depositaries to the issuer in money transfer for payment of the income and the securities redemption of the issuer according to the depositary contract with the issuer, and also in case of accomplishment by legal entities of functions of authorized depositary according to the legislation), activities for trust management of securities (further - the professional participant), separate accounting of own money and money of their clients.

2. For the purposes of this Instruction the main terms and their determinations in the values established by the Law of the Republic of Belarus of January 5, 2015 "About the security market" are used (The national legal Internet portal of the Republic of Belarus, 10.01. 2015, 2/2229), and also following term and its determination:

the client - the subject of the civil law who signed with the professional participant the agreement of the order, the commission or trust management of securities, the depositary contract with the issuer or other agreement providing performance of works (rendering services) by the professional participant in implementation of intermediary transactions with securities (including transactions according to the redemption and the securities redemption of issuers) for the benefit of this subject, works and services connected with such transactions (further - agreements).

3. The cash accounting, arriving according to the legislation for the redemption, payments of the income and repayment of the government securities or securities emitted by National Bank of the Republic of Belarus (further - National Bank), authorized depositaries is performed separately from own money of the professional participant.

4. Implementation by professional participants of professional and exchange activity on securities with use of money of clients, and also the money arriving according to the legislation for the redemption, payment of the income and repayment of the government securities or securities emitted by National Bank without opening of the account (sub-account), stipulated in Item the 5th this Instruction is not allowed.

Chapter 2. Procedure for opening, use and closing of accounts

5. Professional participants perform professional and exchange activity on securities with use of money of clients, and also the money arriving according to the legislation for the redemption, payment of the income and repayment of the government securities or securities emitted by National Bank with obligatory opening:

personal accounts on the balance sheet accounts "Calculations for Transactions with Securities" or "Customer Accounts on Property Trust Management" (further - the account) if the professional participant is bank, the non-bank credit and financial organization (further - bank), except for implementation of trust management of shares in the cases provided by legal acts;

sub-accounts if the professional participant is not bank.

The sub-account to the professional participant, not being bank, can be open in bank in which the current (settlement) bank account of the professional participant, or at the discretion of the professional participant in other bank is opened.

6. The bank opens for the professional participant the account (sub-account) for the cash accounting of clients, and also money arriving according to the legislation for the redemption, payment of the income and repayment of the government securities or securities emitted by National Bank.

The cash accounting of clients - physical persons, including individual entrepreneurs, and legal entities on one account (sub-account) is not allowed.

For the cash accounting of each issuer, including arriving according to the legislation for the redemption, payments of the income and repayment of the government securities or securities emitted by National Bank separate accounts (sub-accounts) are opened.

Collection from the account (sub-account) of money on obligations of the professional participant or other persons is not allowed.

Warning!!!

This is not a full text of document! Document shown in Demo mode!

If you have active License, please Login, or get License for Full Access.

With Full access you can get: full text of document, original text of document in Russian, attachments (if exist) and see History and Statistics of your work.

Get License for Full Access Now

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

Effectively work with search system

Database include more 50000 documents. You can find needed documents using search system. For effective work you can mix any on documents parameters: country, documents type, date range, teams or tags.
More about search system

Get help

If you cannot find the required document, or you do not know where to begin, go to Help section.

In this section, we’ve tried to describe in detail the features and capabilities of the system, as well as the most effective techniques for working with the database.

You also may open the section Frequently asked questions. This section provides answers to questions set by users.

Search engine created by SojuzPravoInform LLC. UI/UX design by Intelliants.