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LAW OF THE REPUBLIC OF BELARUS

of July 8, 2008 No. 369-Z

About the guaranteed compensation of bank deposits (deposits) of physical persons

(as amended on 11-11-2021)

It is accepted by the House of Representatives on June 10, 2008

Approved by Council of the Republic on June 20, 2008

Chapter 1. General provisions

Article 1. The relations regulated by this Law

This Law governs the relations on the guaranteed compensation of bank deposits (deposits) of physical persons (further compensation of bank deposits (deposits)) for the purpose of protection of the rights and legitimate interests of physical persons, stimulation of attraction of savings of the population and building confidence in bank system of the Republic of Belarus.

Article 2. Subjects of the relations on compensation of bank deposits (deposits)

Subjects of the relations on compensation of bank deposits (deposits) are:

Agency on the guaranteed compensation of bank deposits (deposits) of physical persons (further if other is not determined, – the Agency);

the banks and the non-bank credit and financial organizations (further – banks) registered in accordance with the established procedure in the territory of the Republic of Belarus, the having special permission (license) for the implementation of banking activity issued by National Bank, granting the right to banking operations on opening and maintaining bank accounts of physical persons and (or) attraction of money of physical persons into accounts and (or) in deposits (deposits) (further – banking activity on attraction of money of physical persons in bank deposits (deposits)), and accepted on accounting in the Agency;

bank attorney – the bank determined by National Bank, performing reception of applications about payment of compensation of bank deposits (deposits) and payment of this compensation from name and at the expense of the Agency based on the agreement of the order;

physical persons – the citizens of the Republic of Belarus, foreign citizens and persons without citizenship including acting as individual entrepreneurs who concluded with bank one or more bank account agreements and (or) bank deposit (deposit) (further – bank deposit agreement (deposit)) or addressed to which such contracts, and also their heirs are signed.

Article 3. Objects of compensation of bank deposits (deposits)

Objects of compensation of bank deposits (deposits) is the money in Belarusian rubles and foreign currency placed on accounts and (or) in deposits (deposits) of physical persons (further if other is not determined, - bank deposit (deposit)) in the banks accepted on accounting in the Agency.

Chapter 2. Procedure, conditions and amount of payment of compensation to physical persons of bank deposits (deposits)

Article 4. Origin at Agency of the obligation on compensation of bank deposits (deposits)

The obligation on compensation of bank deposits (deposits) arises at the Agency from the date of receipt by bank of the notification of National Bank on decision making about response at bank of the special permission (license) for implementation of banking activity granting the right to implementation of banking activity on attraction of money of physical persons in bank deposits (deposits), in general or regarding implementation of this banking activity.

Physical persons have the right in case of origin at Agency of the obligation on compensation of bank deposits (deposits) to receive compensation of bank deposit (deposit) according to the procedure, on conditions and in the sizes provided by this Law.

Execution of the obligation by the Agency on compensation of bank deposit (deposit) to physical person does not exclude the right of this physical person to the appeal to bank for satisfaction of requirements for compensation of bank deposit (deposit) and percent added on it (further if other is not determined, – the requirement) in the amount of difference between the total amount of the requirement and the received compensation amount.

Article 5. Procedure for the appeal of physical persons behind payment of compensation of bank deposits (deposits)

The agency within five working days from the date of emergence of the obligation at it on compensation of bank deposits (deposits) shall publish in the Respubl_ka newspaper and post on the official site the Agencies on the global computer Internet information on the place, time and procedure for compensation of bank deposits (deposits).

The physical person has the right to address for payment of compensation of bank deposit (deposit) not earlier than fourteen working days and no later than five years from the date of origin at Agency of the obligation on compensation of bank deposits (deposits).

If the right to compensation of bank deposit (deposit) is confirmed by bank deposit agreement (deposit), the application for payment of compensation of bank deposit (deposit) in the form established by the Agency is submitted by physical person to bank attorney, except as specified, provided by part four of this Article. At the same time the physical person shows only the identity document.

The application for payment of compensation of bank deposit (deposit) is submitted by physical person to the Agency in cases if:

the right to compensation of bank deposit (deposit) is confirmed by the certificate on the right to inheritance, the court order on recognition for the heir of the property right to bank deposit (deposit), the savings certificate to bearer or other document which is not specified in part three of this Article;

the bank after origin at Agency of the obligation on compensation of bank deposits (deposits) partially fulfilled the obligation to physical person on return of bank deposit (deposit);

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