PRESIDENTIAL DECREE OF THE REPUBLIC OF BELARUS

of June 30, 2014 No. 325

About attraction and provision of loans, activities of the microfinancial organizations

For the purpose of exception of unfair activities of legal entities in the field of attraction of financial resources of citizens and provision of loans by it, suppression of abuses in this sphere, enhancement of procedure of activities for regular attraction and provision of loans, forming of conditions for further development of entrepreneurship and business initiative by implementation of additional instruments of financing, and also consumer protection of the services rendered by the microfinancial organizations:

1. Determine that:

1.1. since August 1, 2014 money irrespective of the amount can be received in loan (is attracted) from the physical persons who are not individual entrepreneurs by the conclusion of the loan agreement, other agreement providing similar conditions of transfer into the ownership of money:

the commercial organizations - from the physical persons who are owners of property, founders (participants), members of data of the organizations, and from other physical persons (one or several) no more than two times during calendar month;

non-profit organizations - from the physical persons which are founders of data of the organizations, and from other physical persons (one or several) no more than two times during calendar month;

individual entrepreneurs - no more than two times during calendar month from one or several physical persons;

1.2. since January 1, 2015 money irrespective of the amount can be received in loan (is attracted) from the physical persons who are not individual entrepreneurs by the conclusion of the loan agreement, other agreement providing similar conditions of transfer into the ownership of money:

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