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RESOLUTION OF THE CABINET OF MINISTERS OF UKRAINE

of January 25, 2012 No. 37

About approval of the Procedure for determination of the size of the loss caused to owners of target corporate bonds which repayment is performed by transfer of object (part of object) of housing construction, and their compensation

(as amended of the Resolution of the Cabinet of Ministers of Ukraine of 21.07.2021 No. 746)

According to article 13 of the Law of Ukraine "About the capital markets and the organized goods markets" the Cabinet of Ministers of Ukraine decides:

Approve the Procedure for determination of the size of the loss caused to owners of target corporate bonds which repayment is performed by transfer of object (part of object) of housing construction, and their compensation which is applied.

Prime Minister of Ukraine

N. Azarov

Approved by the Resolution of the Cabinet of Ministers of Ukraine of January 25, 2012, No. 37

Procedure for determination of the size of the losses caused to owners of target corporate bonds which repayment is performed by transfer of object (part of object) of housing construction, and their compensation

1. This Procedure establishes the mechanism of determination of the size of the losses caused to owners of target corporate bonds (further - bonds) which repayment is performed by transfer of object (part of object) of housing construction in case of acceptance by local government body or executive body on their initiative in the cases and procedure provided by the law, the decision having the investigation change of the user of the parcel of land intended for asset construction of the housing construction financed with attraction of financial resources of physical persons and/or legal entities by bond emission (further - the decision on change of the user), and also compensations of such losses (further - compensation).

2. Local government body or executive body (further - the body which made the decision) after adoption of the decision on change of the user (if the issue of change of the user of the parcel of land is resolved judicially, - after finding of legal force by the corresponding judgment) by it no later than during the next working day:

Notifies 1) on the made decision on change of the user to bond issuing institution;

Notifies 2) on the made decision on change of the user of NKTsBFR;

3) is provided by placement of information on the decision on change of the user on the website.

3. Bond issuing institution no later than during the next working day after obtaining from the body which made the decision, the notification on the decision on change of the user:

1) to make actions on suspension of the circulation of bonds in the procedure established by the legislation;

To provide 2) to the body which made the decision, information on nominal value of the placed bonds, their number, date of placement and repayment date. In case of decision making about change of the user by executive body such body submits to one-day time information obtained from the issuer, to relevant organ of local self-government which provides expenses on compensation in the local budget.

4. Compensation is performed for the expenditure account, provided on the specified purposes in the general fund of the local budget.

If it is not provided in the current budget period of such expenses, the relevant organ of local self-government provides modification of the decision on the local budget the current year and/or provides them in the draft of the local budget the next year.

5. The amount of compensation is equal:

nominal value of bonds;

to the amount of the income which bondholders could receive, having performed investment alternative to bonds acquisition which is determined taking into account the level of double discount rate of National Bank from date of bonds acquisition until compensation implementation; or

to the amount of the income which bondholders could receive taking into account the cost of square meters of housing which were provided as calculation for such bonds it is determined according to requirements of the legislation on assessment of property and property rights, from date of bonds acquisition until compensation implementation.

6. Local government body no later than during the next working day after adoption of the decision on modification of the decision on the local budget the current year (at the beginning of the next budget period) notifies by it on adoption of such decision executive body which made the decision on change of the user. The body which made the decision no later than it during the next working day after acceptance/receipt of the notification on the made decision on modification of the decision on the local budget the current year (at the beginning of the next budget period) addresses bond issuing institution with the requirement to provide it within five working days from the date of receipt of the address the list of bondholders constituted by Central Securities Depository as of date of suspension of the circulation of such bonds according to the legislation on depositary system.

7. The body which made the decision after receipt of this Procedure for the list of bondholders specified in Item 6 no later than within three working days provides placement of information on the beginning of compensation on own website and the direction of the adequate notice by means of mail service or means of electronic communication electronically to each bondholder specified in the list.

Compensation is performed by the body which made the decision within two months from receipt date of the list of bondholders - to bondholders (persons who received such securities as a result of inheritance, legal succession either according to the judgment or in other cases, stipulated by the legislation) by transfer in the procedure for the corresponding amounts established by the legislation into their accounts opened in banks or through departments of mail service.

8. Bondholders (persons who received such securities as a result of inheritance of legal succession either according to the judgment or in other cases, stipulated by the legislation) for receipt of compensation give to the body which made the decision:

1) the statement in the form established by it;

2) the documents according to requirements of the legislation identifying the identity of the bondholder (person who received such securities as a result of inheritance, legal succession either according to the judgment or in other cases, stipulated by the legislation, with provision of supporting documents about such obtaining);

3) the original or the copy of the document containing information on bank details in which the current account, and number of this account or details of department of mail service on which it is necessary to perform transfer in the procedure for the corresponding amounts established by the legislation is opened.

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