THE ORDER OF STATE COMMISSION ON REGULATION OF THE MARKETS OF FINANCIAL SERVICES OF UKRAINE

of August 21, 2008 No. 1000

About approval of the Regulations on delegation by the National commission performing state regulation in the sphere of the markets of financial services of separate powers to consolidation of strakhovik

According to article 16 of the Law of Ukraine "About financial services and state regulation of the markets of financial services", article 13 of the Law of Ukraine "About insurance", the Regulations on State commission on regulation of the markets of financial services of Ukraine approved by the Presidential decree of Ukraine of 04.04.2003 No. 292, and regulatory legal acts of State commission on regulation of the markets of financial services of Ukraine and also for the purpose of enhancement of state regulation of activities for provision of insurance services State commission on regulation of the markets of financial services of Ukraine POSTANOVILA:

1. Approve Regulations on delegation by the National commission performing state regulation in the sphere of the markets of financial services of separate powers to consolidation of strakhovik which is applied.

2. To provide to department of insurance supervision together with legal department provision of this order in the Ministry of Justice of Ukraine for state registration.

3. To provide to management of organizational and analytical ensuring work of the head publication of this order after its state registration.

4. Control over the implementation of this order to assign to the vice-chairman according to distribution of obligations.

Approved by the Order of State commission on regulation of the markets of financial services of Ukraine of August 21, 2008 No. 1000

Regulations on delegation of the National commission performing state regulation in the sphere of the markets of financial services of separate powers to consolidation of strakhovik

This Provision is developed according to article 16 of the Law of Ukraine "About financial services and state regulation of the markets of financial services", article 13 of the Law of Ukraine "About insurance", Regulations on the National commission performing state regulation in the sphere of the markets of financial services, No. 1070 approved by the Presidential decree of Ukraine of November 23, 2011.

I. General provisions

1. This Provision determines conditions and procedure for delegation of Natskomfinuslug to consolidation of strakhovik (further - Consolidation) powers concerning development and introduction of rules of conduct in the market of insurance services and certification of specialists of the market of insurance services.

2. In this Provision the stated below concepts are used in such value:

the delegated powers - functions, the rights and obligations which are acquired by Consolidation owing to transfer of Natskomfinuslug to it according to own solution of powers concerning development and introduction of rules of conduct in the market of insurance services and certification of specialists of the market of insurance services;

the applicant - the Consolidation filing the relevant documents to Natskomfinuslug for transfer (delegation) of separate powers to it;

the applicant's representative - person having the right to make the transaction on behalf of the applicant according to the Civil code of Ukraine;

the self-regulating organization of strakhovik (daleesamoreguliruyushchayasya the organization) - Consolidation to which according to the solution of Natskomfinuslug separate powers are delegated and information on which is entered in the register of the self-regulating organizations of financial institutions.

Other concepts are applied in this Provision according to the Laws of Ukraine "About financial services and state regulation of the markets of financial services" and "About insurance".

II. General terms of delegation to Combination of separate powers

1. The charter of Consolidation with changes to it shall meet the requirements of the legislation, including on protection of the economic competition and contain regulations on possibility of acquisition by Combination of the status of the self-regulating organization.

2. Consolidation to which powers are delegated shall have properly the approved following domestic situations:

regulations on Consolidation activities;

regulations on document flow.

3. The regulations on activities of Consolidation shall contain:

procedure and conditions of acquisition and the termination of membership in Consolidation which do not contain any restrictions or obstacles for the introduction or exit from Consolidation membership, in particular the term of consideration of the applications of strakhovik about membership in Consolidation and the list of documents which are enclosed to the application for membership in Consolidation;

rights and obligations of members of Consolidation;

procedure for determination of the size and payment of the membership fees;

bases and procedure for exit (exception) of members of Consolidation;

procedure for election (appointment) and withdrawal (release) and replacement of members of governing bodies and monitoring bodies of Consolidation;

requirements to education, work experience and goodwill of members of executive and monitoring bodies of Consolidation;

claim treatment procedure of members of Consolidation on actions of its executive and monitoring bodies in connection with realization of the delegated powers;

procedure for promulgation of information on Consolidation activities, including procedure for informing concerning the decisions made by executive and monitoring bodies regarding implementation of the delegated powers;

procedure for monitoring from Consolidation of observance by his members of requirements of the legislation on financial services;

the rights and obligations of members of Consolidation regarding realization by Combination of the separate powers delegated by Natskomfinuslug;

procedure for realization by Consolidation of separate delegated Natskomfinuslug of powers.

4. The regulations on document flow shall contain:

procedure for the address, accounting, storage and use in Combination of documents and other information in paper and electronic type;

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