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

of May 28, 2013 No. 896

About procedure for appointment of the company on asset management which will temporarily exercise asset management of the Accumulation pension fund

According to Item 13 of article 8 of the Law of Ukraine "About state regulation of the capital markets and the organized goods markets" and part two of article 87 of the Law of Ukraine "About obligatory national pension insurance" the National commission on securities and the stock market RESHILA:

1. Establish such procedure for appointment of the company on asset management which will temporarily exercise asset management of the Accumulation pension fund (further - the Accumulation fund):

1) appointment of the company on asset management which will temporarily exercise asset management of the Accumulation fund is performed by the National commission on securities and the stock market in case of receipt of the copy of the decision of Council of the Accumulation fund on the termination of powers of the company for asset management of accumulative system of pension insurance (further - the Company);

2) the company which will temporarily exercise asset management of the Accumulation fund is appointed to the term necessary for carrying out new tender and the conclusion of the contract between executive directorate of the Pension fund and the Company elected by results of tender;

3) if asset management of the Accumulation fund was exercised by two and more Companies, NKTsBFR makes the decision on accomplishment of powers of the Company on which termination of powers the relevant decision of Council of the Accumulation fund, another (others) the Company (Companies) for the term necessary for carrying out new tender and the conclusion of the contract with the Company elected by results of tender is made;

4) if asset management of the Accumulation fund was exercised by one Company, NKTsBFR performs such actions:

addresses to Council of the Accumulation fund concerning provision of information concerning the list of the Companies which were allowed to participation in the second stage of tender on election of the company on asset management of the Accumulation fund, and requirements to applicants who can take part in carrying out such tender, accepted by the decision of Council of the Accumulation fund (dalshetrebovaniye to applicants);

within 10 working days from the date of receipt of information from Council of the Accumulation fund considers compliance of the Companies and results of their activities for the last 6 months to requirements to applicants and makes the decision concerning approval of the list of such Companies;

within 3 working days from acceptance date of such decision of NKTsBFR sends to each Company official channel of communication the offer of rather temporary implementation of asset management of the Accumulation fund;

within 10 working days from the date of receipt by the Company of such offer of NKTsBFR accepts written consent from the Companies to temporary implementation of asset management of the Accumulation fund;

from among the Companies which provided such written consent NKTsBFR makes the decision on appointment of the Company which will temporarily exercise asset management of the Accumulation fund, being guided by requirements to applicants which are accepted by the decision of Council of the Accumulation fund, and sends the decision of this Company and to Council of the Accumulation fund.

5) the company which will temporarily exercise asset management of the Accumulation fund can participate in new tender on election of the company on asset management of the Accumulation fund.

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.

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.

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