RESOLUTION OF BOARD OF NATIONAL BANK OF THE REPUBLIC OF BELARUS

of May 10, 2011 No. 170

About modification and amendments in the Instruction about procedure for making of banking documentary operations

Based on the paragraph of the twenty fifth of Article 26 and part one of article 39 of the Bank code of the Republic of Belarus the Board of National Bank of the Republic of Belarus DECIDES:

1. Bring in the Instruction about procedure for making of banking documentary operations approved by the resolution of Board of National Bank of the Republic of Belarus of March 29, 2001 No. 67 (The national register of legal acts of the Republic of Belarus, 2001, No. 45, 8/5544; 2007, No. 28, 8/15500; No. 171, 8/16785; 2009, No. 199, 8/21320), following changes and amendments:

1.1. in Item 2 part one:

to state the paragraph of the sixth in the following edition:

"bank of principal - the bank servicing the principal or other instructing party on the transactions connected with issue of the bank guarantee (it is competent to act as the instructing party or the guarantor);";

to state the paragraph of the twenty second in the following edition:

"the instructing party - the principal, bank or the other person other than the counterguarantor which give instructions to bank on issue of guarantee or counterguarantee and are responsible for compensation of paid amounts for guarantee (counterguarantee) to the guarantor (in case of counterguarantee - to the counterguarantor);";

after the paragraph of the twenty sixth to add with the paragraph of the following content:

"the counterguarantor - the bank issuing counterguarantee for benefit of the guarantor and (or) for benefit of other counterguarantor;";

to consider paragraphs of the twenty seventh-fifty second respectively paragraphs twenty eighth-fifty third;

"the bank guarantee or" to exclude from the paragraph of the thirty fourth word;

to add the paragraph of the thirty seventh with words ", the bank guarantee";

from the paragraph of the forty eighth word "confirmatory bank" to exclude;

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