RESOLUTION OF BOARD OF NATIONAL BANK OF THE REPUBLIC OF BELARUS

of March 26, 2014 No. 178

About approval of the Instruction about relations management, the money and (or) securities arising in case of consolidation in fund of bank management based on the trust management agreement of fund of bank management

Based on the paragraph of the fourth of Article 18, 22, of paragraphs of the ninth, thirteenth and nineteenth of Article 26, Article parts one 38, parts one of Article 39 and part one of article 119-1 of the Bank code of the Republic of Belarus the Board of National Bank of the Republic of Belarus DECIDES: Article parts three

1. Approve the enclosed Instruction about relations management, the money and (or) securities arising in case of consolidation in fund of bank management based on the trust management agreement of fund of bank management.

2. This resolution becomes effective after its official publication.

Approved by the Resolution of Board of National Bank of the Republic of Belarus of March 26, 2014 No. 178

The instruction about relations management, the money and (or) securities arising in case of consolidation in fund of bank management based on the trust management agreement of fund of bank management

Chapter 1 General provisions

1. This Instruction governs the relations arising in case of consolidation of money and (or) securities in fund of bank management (further - fund) based on the trust management agreement of fund, including the main conditions of creation of fund and trust management of it, the rights and the trustee's obligations fund, determination of share of the obligee in property of fund, disclosure and provision of information on fund and feature of trust management of fund.

2. For the purposes of this Instruction the terms below are used in the following values:

currency of fund - currency type (Belarusian ruble or one of types of foreign currency) in which the property value is expressed, contributed to fund;

the obligee - physical person, including the individual entrepreneur, or the legal entity who are owners of the money and (or) securities delivered in trust management of fund and also the other persons determined by legal acts;

the redemption of the equity certificate - the acquisition by the trustee by fund of the equity certificate at the obligee attracting termination of the contract of trust management of fund;

the trustee fund - the bank or the non-bank credit and financial organization having the following special permissions (licenses) (further - licenses):

issued by National Bank of the Republic of Belarus (further - National Bank) the license for implementation of banking activity granting the right to implementation of trust management of fund of bank management for the trust management agreement of fund of bank management and to banking operations on attraction of money of physical and (or) legal entities in deposits (deposits) - in case of consolidation in fund of money;

the issued republican state body performing state regulation of the security market, the license for implementation of professional and exchange activity on securities (the constituting works and services - activities for trust management of securities) - in case of consolidation in fund of securities, and also in case of making of transactions with securities in the course of trust management of fund;

the trust management agreement of fund - the agreement under which the obligee gives to the trustee by fund to certain term money and (or) securities to trust management with the compulsory provision of their subsequent consolidation to fund and the trustee fund shall for remuneration exercise control of this money and (or) securities for the benefit of the obligee;

the equity certificate - the document which certifies transfer of money and (or) securities to trust management of fund, confirms joining of the obligee to the trust management agreement of fund and confirms share of the obligee in property of fund, its right to money is proportional to such share in case of discharge of the trust management agreement of fund, and also other rights determined in this Instruction and the trust management agreement of fund;

income of fund - the surplus of property of fund in terms of money received as a result of carrying out by the trustee by fund transactions with the money and (or) securities contributed to fund by obligees, and also with the property acquired in the course of trust management of fund;

property of fund - the assets of fund created at the expense of the money and (or) securities contributed to fund by obligees and also the assets acquired in the course of trust management of fund;

the investment declaration - integral part of rules of fund in which the purposes of investment policy of trust management of fund, the list of investment objects, risks connected with transfer of money and (or) securities to fund, procedure for property management of fund are determined and also requirements to structure of the property acquired in the course of trust management of fund are established;

nominal share - the accounting unit reflecting share of each obligee in property of fund;

the period of primary accession - the period established in rules of fund for creation of initial property of fund;

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