DECISION OF THE NATIONAL COMMISSION ON SECURITIES AND STOCK MARKET OF UKRAINE

of November 13, 2012 No. 1618

About approval of Changes to Regulations on requirements to persons who perform professional activity on asset management of institution investors (activities for asset management), concerning structure and structure of assets of non-state pension funds which they manage

According to Item "About state regulation of the security market in Ukraine" and articles 47 and 49 of the Law of Ukraine "About non-state pension provision" the National commission on securities and the stock market SOLVED 13 parts one of article 8 of the Law of Ukraine:

1. Approve Changes to Regulations on requirements to persons who perform professional activity on asset management of institution investors (activities for asset management), concerning structure and structure of assets of non-state pension funds which they manage by the approved decision of the National commission on securities and the stock market of April 26, 2012 No. 582, registered in the Ministry of Justice of Ukraine on May 17, 2012 for No. 787/21100, which are applied.

2. To provide to department of joint investment and regulation of activities of institution investors (O. Simonenko) submission of this decision on state registration in the Ministry of Justice of Ukraine.

3. To management of information technologies, external and internal communications (the Stutterer A.L.) provide publication of this decision according to the legislation of Ukraine.

4. This decision becomes effective from the date of its official publication, except the paragraph of third subitem 3.1.4 of subitem 3.1 of Item 3 of Changes which becomes effective on July 18, 2017.

5. Control over the implementation of this decision to assign to the member of the National commission on securities and the stock market O. Tarasenko.

Approved by the Decision of the National commission on securities and the stock market of Ukraine of November 13, 2012 No. 1618

Changes in Regulations on requirements to persons who perform professional activity on asset management of institution investors (activities for asset management, concerning structure and structure of assets of non-state pension funds whom they manage

1. The paragraph one of Item 1.3 of the Section I to state in such edition:

"1.3. Requirements to Persons concerning structure of assets of the pension funds which assets they manage, before achievement of amount of assets by the pension fund in the amount of 500 thousand hryvnias, but for the term of no more than 18 months from the date of inclusion of the pension fund in the State register of financial institutions are applied according to requirements of the Section ІІІ this Provision, at the same time such Person does not have enough:".

2. In the Section ІІ:

2.1. In Item 2.2:

2.1.1. Third after the word of "shares" to add the paragraph with words of "the Ukrainian issuers".

2.1.2. The fourth to state the paragraph in such edition:

"bonds of the Ukrainian issuers which credit rating answers the investment grade on the National rating scale determined by the legislation of Ukraine or which according to regulations of the legislation underwent listing on the stock exchange that meets the requirements established by the National commission on securities and the stock market;".

2.1.3. Add Item with the new paragraph of such content:

"mortgage bonds".

2.2. In Item 2.3:

2.2.1. To add paragraph two after the words "founders of the pension fund" with the words "and their connected persons".

2.2.2. Third to state the paragraph in such edition:

"the securities which did not undergo listing on the stock exchange that meets the requirements established by the National commission on securities and the stock market and do not address on the stock exchange registered in accordance with the established procedure except case if credit bond rating answers the investment grade on the National rating scale determined by the legislation;".

2.3. Add the Section with new Item of such content:

"2.8. Assets of the pension fund can be created only as a result of the transactions connected with implementation by the pension fund of activities for non-state pension provision according to the Law of Ukraine "About non-state pension provision"".

3. In the Section ІІІ:

3.1. In Item 3.1:

3.1.1. State paragraph two in such edition:

"place on bank deposit accounts in money and in savings certificates of banks it is more than 50 percent of total cost of pension assets;".

3.1.2. In paragraph nine of the word "and hypothecation certificates" to exclude.

3.1.3. The twelfth to state the paragraph in such edition:

"acquire or to invest in addition in other assets which can be estimated on market value and are not prohibited by the legislation of Ukraine, but are not specified in this Section, including the shares acquired as a result of transformation of the legal entity which corporate laws were in assets of the pension fund, in joint-stock company, more than 5 percent of total cost of pension assets;".

3.1.4. Add Item with two new paragraphs of such content:

"place in obligations of one legal entity it is more than 10 percent of total cost of pension assets;

hold more than 10 percent of securities (corporate laws) of one issuer".

3.2. Add the Section after Item 3.1 with new Item of such content:

"3.2. The restriction set by the paragraph third Item 3.1 of this Section is not applied within six months in case of additional investment of pension assets into shares of the corresponding issuer when implementing of additional share issue by it if as a result of such investment the share of the pension fund in the authorized capital of the corresponding issuer remains, and shares of the corresponding issuer are part of pension assets of the pension fund.".

With respect thereto Items 3. 3.3 to consider 2, respectively by Items 3. 3, 3.4.

4. To state paragraphs of the first and second of Item 4.2 of the Section IV in such edition:

"4.2. Purchase - sale of shares, bonds of the Ukrainian issuers taking into account requirements, certain in paragraphs three and the fourth Item 2.2 of the Section ІІ this Provision and the Law of Ukraine "About non-state pension provision", is performed by Person only on the stock exchange.

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