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The document ceased to be valid since  July 28, 2015 according to Item 1 of the Decision of the National commission on securities and the stock market of Ukraine of  July 10, 2015 No. 979

It is registered

Ministry of Justice of Ukraine

October 30, 2014

No. 1364/26141

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

of October 14, 2014 No. 1360

About approval of the Regulations on establishment of signs of fictitiousness of issuers of securities and inclusion of such issuers in the list (list) of the issuers having fictitiousness signs

According to subitem 153.8.4 of Item 153.8 of Article 153 of the Section III and subitem 170.2.6 of Item 170.2 of Article 170 of the Section IV of the Tax code of Ukraine, part two Items 37-10 and 37-11 of Article 7, to Items 5-1 and 13 of article 8 of the Law of Ukraine "About state regulation of the security market in Ukraine", for the purpose of determination of signs of fictitiousness of issuers and their securities and procedure for inclusion (exception) for the issuer in (from) the list (list) of the issuers having fictitiousness signs, the National commission on securities and the stock market RESHILA:

1. Approve Regulations on establishment of signs of fictitiousness of issuers of securities and inclusion of such issuers in the list (list) of the issuers having fictitiousness signs which are applied.

2. Declare invalid the decision of State commission on securities and the stock market of December 22, 2010 No. 1942 "About establishment of signs of fictitiousness of securities and derivatives", registered in the Ministry of Justice of Ukraine on March 3, 2011 at No. 268/19006.

3. And corporate finances (A. Papaik) to provide to corporate management department submission of this decision on state registration in the Ministry of Justice of Ukraine.

4. And clerical works (A.Zaik) to provide to management of information technologies promulgation of this decision on the official website of the National commission on securities and the stock market.

5. (A. Zbarazhskaya) to provide to management of internal audit and communications publication of this decision in the official printing publication of the National commission on securities and the stock market.

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

7. Control over the implementation of this decision to assign to the member of the National commission on securities and the stock market A. Amelin.

Commission chairman

D. Tevelev

 

It is approved:

Minister of Finance of Ukraine

 

A. Shlapak

Chairman of the Public fiscal service of Ukraine

I. A. Belous

 

Approved by the Decision of the National commission on securities and the stock market of October 14, 2014 No. 1360

Regulations on establishment of signs of fictitiousness of issuers of securities and inclusion of such issuers in the list (list) of the issuers having fictitiousness signs

1. This Provision determines:

1) signs of fictitiousness of the issuer and his securities;

2) procedure for decision making about determination of the issuer and his securities having fictitiousness signs;

3) procedure for inclusion (exception) for the issuer in (from) the list (list) of the issuers having fictitiousness signs (further - the List).

2. The term "affiliate" in this Provision is used in the value determined by the Law of Ukraine "About joint-stock companies".

3. Action of this provision does not extend on:

1) the central executive body, realizing the state financial policy;

2) Public mortgage institution;

3) financial institutions which more than 50 percent of corporate laws belong to the state or national banks;

4) banks;

5) the state-owned managing holding companies, the state-owned holding companies and the state joint-stock companies which single founder and the shareholder is the state on behalf of authorized state bodies;

6) institutes of joint investment.

4. The list of criteria, compliance to which is the basis for decision making about determination of the issuer and his securities having fictitiousness signs, and inclusion of the issuer in the List:

1) established by the National commission on securities and the stock market (further - the Commission) and/or the Public fiscal service of Ukraine the fact of absence of the issuer on the location;

2) non-presentation by the issuer in the Commission of regular information and in bodies of GFS of tax statements according to the procedure, established by the legislation;

3) not convocation of general shareholder meeting by joint-stock company within two years in a row and/or not formation of the governing bodies of joint-stock company determined by the legislation within year from the date of registration by the Commission of the report on results of private placement of shares among founders of joint-stock company;

4) low level (less than 3 percent from the size of assets of the issuer) or lack of the income from sales of goods, works, services in core activity as of the end of financial year;

5) lack of the paid value added tax during the accounting period if the issuer is taxpayer on value added;

6) the prevailing share of assets of the issuer (more than 90 percent) is constituted by financial investments and/or receivables according to the financial reporting of the issuer given to the Commission and/or GFS as of the end of the accounting period;

7) the number of workers of the issuer as of the end of the accounting period makes less than three people;

8) average monthly expenses of the issuer on compensation of one worker less minimum size of the salary, established by the legislation is;

9) registration of the location of the issuer in the building of dwelling stock to the address where the legal entities who are not affiliates of the owner of such premises are registered;

10) availability of the judgment which took legal effect, connected with use of securities of the issuer for the purpose of tax avoidance, charges (obligatory payments).

5. Based on the available information the Commission and/or GFS within competence carry out the analysis of compliance of the issuer to signs of fictitiousness according to the criteria determined in item 4 of this provision.

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