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

of August 6, 2013 No. 1411

About approval of Requirements to the agreement on correspondence relations

According to the Law of Ukraine "About state regulation of the security market in Ukraine", part seven of article 5 of the Law of Ukraine "About depositary system of Ukraine" and for the purpose of ensuring protection of the rights of investors and observance by members of the security market of requirements of acts of the legislation the National commission on securities and the stock market RESHILA:

1. Approve Requirements to the agreement on correspondence relations which are attached.

2. To Central Securities Depository for year from the date of entry into force of the Law of Ukraine "About depositary system of Ukraine" to perform actions concerning reduction of the contracts on correspondence relations with depositaries correspondents signed by PJSC National Depositary of Ukraine in compliance with the Requirements to the agreement on correspondence relations approved by this decision.

3. To provide to department of regulation of depository and settlement and clearing activity (I. Kurochkin) submission of this decision on state registration in the Ministry of Justice of Ukraine.

4. To provide to management of information technologies, external and internal communications (A.Zaik):

publication of this decision in the official printing publication of the National commission on securities and the stock market;

promulgation of this decision on the official site of the National commission on securities and the stock market.

5. This decision becomes effective from the date of its official publication.

6. Control over the implementation of this decision to assign to the member of the commission O. Tarasenko.

Approved by the Decision of the National commission on securities and the stock market of Ukraine of August 6, 2013 No. 1411

Requirements to the agreement on correspondence relations

І. General provisions

1. These Requirements extend to Central Securities Depository (further - the Central depositary) and depositary of foreign state or the international depositary and clearing institution (further - depositary correspondent) in case of the conclusion of the agreement on correspondence relations (further - the Agreement), modification of it.

These Requirements are developed according to the Civil code of Ukraine, the Economic code of Ukraine, the Law of Ukraine "About depositary system of Ukraine" and regulatory legal acts of the National commission on securities and the stock market of rather depository activity.

2. Participants of correspondence relations can choose the right of the state which is applied to the Agreement.

3. The agreement shall establish conditions concerning procedure for disclosure of information which according to the law belongs to information with limited access.

ІІ. Requirements to the Agreement

1. The agreement shall contain:

date and detention center;

Agreement details of the parties;

subject of the agreement;

rights and obligations of the Parties;

procedure of payments for the provided services;

responsibility of the parties;

procedure for consideration of disputes which can arise between the parties in the course of accomplishment, modification or agreement cancelation;

duration of the agreement, procedure for modification, termination of its action.

2. The agreement shall be constituted in writing and signed the parties taking into account requirements of the legislation and international treaties of Ukraine.

3. Agreement parties are the depositary correspondent and the Central depositary.

Details of the parties of the Agreement shall contain full name, the location, code on EGRPOU (identification code - for foreign depositary correspondent) and bank details, data on contact telephone numbers and e-mail addresses of the parties, information on the document which confirms the power of the person signing the Agreement.

4. The subject of the agreement is provision of services by the Central depositary concerning opening and account management in securities to depositary correspondent, accounting on this security account on which rights the rights on which belong to clients of depositary correspondent, and also clients of the client of depositary correspondent, and implementation of depository operations by the Central depositary based on orders of depositary correspondent, and also provision of other services by the Central depositary in the course of carrying out depository activity according to the Regulations on carrying out depository activity approved by the decision of the National commission on securities and the stock market of April 23, 2013 No. 735, registered in the Ministry of Justice of Ukraine on June 27, 2013 for No. 1084/23616 (further - the Provision).

5. Rights and obligations of the Parties:

1) the Agreement shall provide such obligations of the Central depositary:

open for depositary correspondent the account in securities during the term established by the Agreement after representation by depositary correspondent of the documents determined by the legislation;

inform depositary correspondent of internal documents (excerpts from internal documents) of the Central depositary which regulate the relations of depositary correspondent and the Central depositary;

perform accounting of securities on which rights the rights on which belong to clients of depositary correspondent, and also clients of the client of depositary correspondent, on the account in securities opened for depositary correspondent;

perform servicing of the account in securities by carrying out depository operations on the account in securities according to the procedure and the terms determined by the legislation and the Agreement;

carry out depository operations not later than three working days from acceptance date of the order and/or documents which are the basis for implementation of these transactions if the order of depositary correspondent or in the Agreement does not establish other (bigger) term of its accomplishment;

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