LAW OF THE REPUBLIC OF BELARUS

of January 5, 2009 No. 10-Z

About commodity exchanges

Accepted by the House of Representatives on December 12, 2008

Approved by Council of the Republic on December 19, 2008

Chapter 1. General provisions

Article 1. Main terms and their determinations

For the purposes of this Law the following main terms and their determinations are applied:

accreditation – provision by commodity exchange to legal entities of the Republic of Belarus, foreign and international legal entities (to the organizations, not being legal entities) and to physical persons of the participation rights in the exchange biddings and the conclusion of stock exchange transactions as visitors of the exchange biddings or exchange brokers based on contracts for exchange servicing;

the stock exchange quotation – the price (rate) (further – the price) on exchange goods determined by the quotation of the prices;

exchange logistic activities – activities of legal entities of the Republic of Belarus, the individual entrepreneurs registered in the Republic of Belarus and also foreign, international legal entities (the organizations, not being legal entities) on storage, transportation and conducting examination of quality of exchange goods;

stock exchange transaction – the agreement signed by participants of stock exchange trading concerning exchange goods following the results of the exchange biddings;

stock exchange trading – the activities of commodity exchange and participants of stock exchange trading directed to the conclusion of stock exchange transactions;

the exchange broker – the participant of stock exchange trading rendering to clients of the exchange broker intermediary services in the conclusion of stock exchange transactions on behalf of the client of the exchange broker at his expense on behalf of the client of the exchange broker at own expense and on its own behalf for customer account of the exchange broker;

exchange collection – the payment for the organization and carrying out the exchange biddings levied by commodity exchange from participants of stock exchange trading which amount is determined according to the legislation;

exchange goods – any things determined by patrimonial signs, which are not withdrawn from circulation and also property rights if other is not provided by this Law and (or) the President of the Republic of Belarus, allowed by commodity exchange to exchange trade according to the legislation. In the cases established by the President of the Republic of Belarus or Council of Ministers of the Republic of Belarus works and services can be referred to exchange goods;

the exchange biddings – the procedure of the conclusion of stock exchange transactions;

the off-exchange transaction – the agreement signed concerning exchange goods out of the exchange biddings;

the client of the exchange broker – the legal entity of the Republic of Belarus, the foreign, international legal entity (the organization, not being the legal entity) or physical person, the relevant contracts which signed with the exchange broker on rendering intermediary services;

clearing – determination, accounting and offset of the obligations which resulted from the conclusion of stock exchange transactions;

the quotation of the prices – identification by commodity exchange of the prices of exchange goods according to technique of the quotation of the prices approved according to the procedure, determined by the charter of commodity exchange taking into account requirements of the legislation;

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