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RESOLUTION OF THE MINISTRY OF FINANCE OF THE REPUBLIC OF BELARUS

of June 20, 2014 No. 36

About appointment, implementation and the termination of activities of temporary administration for management of insurance company

(as amended on 15-12-2022)

Based on paragraph one of subitem 69.1.6 of Item 69, of Item 71 of the Regulations on insurance activity in the Republic of Belarus approved by the Presidential decree of the Republic of Belarus of August 25, 2006 No. 530, and Item 10 of the Regulations on the Ministry of Finance of the Republic of Belarus approved by the resolution of Council of Ministers of the Republic of Belarus of October 31, 2001 No. 1585, the Ministry of Finance of the Republic of Belarus DECIDES:

1. Approve the Instruction about procedure for appointment, implementation and the termination of activities of temporary administration for management of insurance company it (is applied).

2. This resolution becomes effective after its official publication.

First Deputy Minister

V. V. Amarin

 

Approved by the Resolution of the Ministry of Finance of the Republic of Belarus of June 20, 2014 No. 36

The instruction about procedure for appointment, implementation and termination of activities of temporary administration for management of insurance company

Chapter 1. General provisions

1. This Instruction establishes procedure for appointment, implementation and termination of activities of temporary administration for management of insurance company (further - temporary administration).

2. The temporary administration performs the activities according to the procedure, established by Regulations on insurance activity in the Republic of Belarus and this Instruction.

Chapter 2. Procedure for appointment of temporary administration

3. The Ministry of Finance has the right to make the decision on appointment of temporary administration in the cases specified in subitem 69.1.6 of Item 69 of the Regulations on insurance activity in the Republic of Belarus.

4. The decision on appointment of temporary administration and its head is accepted by the Ministry of Finance and is drawn up by the order.

5. The order of the Ministry of Finance on appointment of temporary administration and its head in addition to the data specified in part three of Item 72 of the Regulations on insurance activity in the Republic of Belarus shall contain surname, own name, middle name (if that is available) the head of temporary administration, registration number of the special certificate of the head of temporary administration on management of insurance company issued by the Ministry of Finance.

6. The Ministry of Finance within seven days informs insurance company in which the temporary administration, the decision on appointment of temporary administration with application of a copy of the relevant order of the Ministry of Finance is appointed.

7. The head of temporary administration and members of temporary administration in number of at least two people are part of temporary administration.

8. The head of temporary administration within seven days from the date of the decision making specified in item 4 of this Instruction appoints members of temporary administration and within seven days in writing informs the Ministry of Finance on persons designated by members of temporary administration.

9. Appointment of members of temporary administration and distribution of obligations between them is drawn up by the order of the head of temporary administration.

10. In case of non-execution or improper execution by the head of temporary administration of the obligations the Ministry of Finance of Item 75 of the Regulations on insurance activity having the right according to part three in the Republic of Belarus to make the decision on discharge it from fulfillment of duties of the head of temporary administration.

11. The decision on discharge of the head of temporary administration from fulfillment of duties is drawn up by the order of the Ministry of Finance.

12. In case of non-execution or improper execution by members of temporary administration of the obligations the head of temporary administration has the right to discharge them of fulfillment of duties. Discharge of members of temporary administration from execution of the obligations is drawn up by the order of the head of temporary administration.

13. The head of temporary administration within seven days from the date of decision making about discharge of members of temporary administration from execution of the obligations in writing informs the Ministry of Finance on the made decision and the reasons of its acceptance.

14. The temporary administration during the activities uses service premises, documentation, and also material and technical means of insurance company according to the procedure and on the conditions established for the head of insurance company.

Chapter 3. Procedure of activities of temporary administration

15. The temporary administration gets to work from start date of activities of the temporary administration determined in the decision specified in item 4 of this Instruction.

The representative of the Ministry of Finance presents the head of temporary administration to the head and employees of insurance company.

16. Executive bodies of insurance company in case of suspension of their powers no later than the day following behind day of appointment of temporary administration shall transfer it seals (in case of their availability) and stamps of insurance company, and to the terms coordinated with temporary administration – accounting and other documentation, material and other values of insurance company.

17. In case of suspension of powers of executive bodies of insurance company the temporary administration with participation of the head of insurance company and the chief accountant of insurance company carries out inventory count of assets and liabilities of insurance company according to the procedure, established by the legislation. At the same time inventory count shall be carried out to the terms determined by the order of the head of temporary administration, but no later than fifteen working days from the date of the beginning of work of temporary administration.

18. In case of suspension during activities of temporary administration of powers of executive bodies of insurance company according to part one of Item 80 of the Regulations on insurance activity in the Republic of Belarus:

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