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The AGREEMENT ON UNIFICATION of the PROCEDURE for OPENING by RESIDENTS of the STATE PARTIES of EurAsEC of ACCOUNTS IN BANKS of OTHER STATE PARTIES of EurAsEC FOR SERVICING of ACTIVITIES of the REPRESENTATIONS

of June 29, 2004

National Bank of the Republic of Belarus, National Bank of the Republic of Kazakhstan, National Bank of the Kyrgyz Republic, the Central bank of the Russian Federation, the National Bank of Tajikistan which are hereinafter referred to as with the Parties

following rate on development of integration processes between the State Parties of Eurasian economic community,

agreed as follows:

Article 1

For the purposes of this agreement following terms have the following value:

Community - the international organization "Eurasian Economic Community", formed by the Constitutive treaty of Eurasian economic community (Astana, on October 10, 2000).

The state of Community - the state entering into Community based on the Constitutive treaty of Eurasian economic community (Astana, on October 10, 2000).

Resident - the legal entity created according to the legislation of the state of Community with the location in the territory of this state (who for four other countries of Community is nonresident).

Bank - the organization with the location in the territory of one of the states of Community having the right to open bank accounts and to perfrom calculations for these accounts according to the legislation of this state.

The account of Representation - the bank account opened by resident of the state of Community in bank of any other state of Community for servicing of activities of the Representation opened in this state.

Article 2

The parties have no right to establish requirements about receipt by residents of individual permissions to opening of the account of Representation in national currency of that state of Community in the territory of which their Representations open.

Article 3

The parties establish notifying and/or registration procedure for opening of the account of Representations in national currency of that state of Community in the territory of which the account of Representation is opened.

Action of this agreement does not extend to accounts of Representative offices of banks and budgetary institutions.

Article 4

The procedure for the direction resident of the notification on opening of the account of Representation (order of registration resident of the account of Representation) is established by the legislation of that state of Community which resident it is.

Article 5

The procedure for opening and account management of Representation is established by the legislation of that state of Community in which bank this account is opened.

Control of observance by residents of the legislation of the state when making transactions with use of the account of Representation is exercised by competent authorities of the same state.

Article 6

The parties are determined that the account of Representation cannot be used by residents for carrying out transactions on implementation of business, investing activities, and also transactions on acquisition of rights real estate, except for the rights arising from the lease agreement of property for the purposes of servicing of activities of Representation.

Article 7

The parties communicate about the procedure for opening and account management of Representations established by the national legal system.

Article 8

In case of need reductions of regulatory legal acts of the Parties in compliance with provisions of this agreement of the Party till January 1, 2005 shall make necessary changes and additions to the corresponding regulatory legal acts and to notify on it other Parties.

Article 9

This agreement becomes effective from the moment of its signing.

The original of this agreement is stored in the Secretariat of Council of heads of the Central (national) Banks of the states of Community which will send to each Party its verified copy.

By mutual consent of the Parties changes and additions which are drawn up by protocols can be made to this agreement.

It is made on June 29, 2004 in the city of Bishkek, the Kyrgyz Republic.

For National Bank of the Republic of Belarus

Signature

For National Bank of the Republic of Kazakhstan 

Signature

For National Bank of the Kyrgyz Republic

Signature

For National Bank of the Russian Federation 

Signature

For National Bank of Tajikistan

Signature

 

 

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

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