Document from CIS Legislation database © 2003-2021 SojuzPravoInform LLC

PRESIDENTIAL DECREE OF THE REPUBLIC OF BELARUS

of February 17, 2015 No. 69

About use of bills of exchange

(as amended on 08-07-2021)

For the purpose of creation of conditions for strengthening of competitiveness of the Belarusian goods and enhancement of financial mechanisms of stimulation of export:

1. Determine that:

1.1. in case of payment under the agreements in foreign trade providing export, exporters * has the right to accept from nonresidents as payment of the bill of exchange, issued or avalized the foreign banks corresponding to the criteria established by National Bank (further - bills of exchange) **;

1.2. accounting of bills of exchange ***, being settlement documents according to the agreements in foreign trade having the right to perform banks, the non-bank credit and financial organizations, and also other legal entities registered in the Republic of Belarus which authorized capital is created in the amount of at least 50 thousand euros for date of accounting of the bill of exchange.

______________________________

* For the purposes of this Decree "exporter" is understood as the individual entrepreneur, the legal entity registered in the Republic of Belarus, who signed the agreement in foreign trade providing export.

** For the purposes of this Decree the term "agreement in foreign trade" is used in the value determined in the Presidential decree of the Republic of Belarus of March 27, 2008 No. 178 "About procedure for execution of agreements in foreign trade", the terms "foreign banks", "nonresidents", "export" are used in the values determined respectively in subitems 1. 9, 1.10 and 1.15 Items 1 of article 1 of the Law of the Republic of Belarus of July 22, 2003 No. 226-Z "About currency control and currency exchange control".

*** For the purposes of this Decree "accounting of bills of exchange" is understood as acquisition (with discount on the bill of exchange) person who is not the first bill holder, the rights of receipt of payment on the bill of exchange before maturity on it without the regress right. At the same time "discount on the bill of exchange" is understood as difference between the amount of monetary commitment of the nonresident with which the exporter signed the agreement in foreign trade providing export on the bill of exchange which is the settlement document according to this agreement in foreign trade and the amount paid to the exporter when accounting the bill of exchange.

Accounting of the bills of exchange which are settlement documents according to agreements in foreign trade on regular basis (two and more times within calendar year) has the right to perform banks, the non-bank credit and financial organizations, and also the legal entities meeting the requirements specified in part one of this subitem, and included in the register of the legal entities performing accounting of bills of exchange (further - the register);

1.3. in the presence at the legal entity, not being bank, the non-bank credit and financial organization (further - the legal entity), intention to perform accounting of bills of exchange on regular basis (two and more times within calendar year) it shall before carrying out the second transaction on accounting of the bill of exchange send to National Bank the notification in the form established by National Bank (further - the notification), for consideration of question of inclusion of the legal entity in the register;

1.4. The National Bank refuses to the legal entity inclusion in the register in case of discrepancy of authorized fund of the legal entity to the size of authorized fund determined in part one of subitem 1.2 of this Item;

1.5. the notification on inclusion in the register or refusal in inclusion in the register goes National Bank to the legal entity no later than 15 working days after receipt date to National Bank of the notification;

1.6. information on the legal entities included in the register and also about their exception of the register is posted on the official site of National Bank on the global computer Internet in day of their inclusion in the register (exception of the register);

1.7. the legal entities included in the register shall provide monthly no later than the 7th following reporting in National Bank information on accounting of bills of exchange on the form established by National Bank;

1.8. the legal entity is excluded from the register in case of non-presentation in National Bank of information on accounting of bills of exchange in the established form within six accounting periods in a row.

The exception is performed by National Bank of the legal entity from the register no later than 15 working days after approach of the fact specified in part one of this subitem;

1.9. No. 265 is excluded according to the Presidential decree of the Republic of Belarus of 08.07.2021

1.10. banks, the non-bank credit and financial organizations, other legal entities performing accounting of bills of exchange and also exporters are exempted from payment of the stamp tax by transfer and receipt of bills of exchange, their copies and copies of bills of exchange for the purpose of change of the property right or other corporeal rights to them on condition of submission of information on such committed transactions to the republican unitary enterprise "Republican Central Securities Depository" according to the legislation.

For application of the release provided in part one of this subitem, the payer of the stamp tax shall have to the payment due date of the stamp tax established by the legislation data which confirm compliance of the foreign bank issuing or avalizing the bill of exchange, to the criteria established by National Bank on date of issue of the bill of exchange foreign bank or execution of the aval by it;

1.11. National Bank:

creates and keeps the register in the procedure determined by it;

establishes criteria concerning the foreign banks issuing and avalizing bills of exchange;

establishes form of the notification sent by the legal entity to National Bank for consideration of question of inclusion of the legal entity in the register;

establishes form of the notification on inclusion of the legal entity in the register;

establishes concerning the legal entities included in the register, form of information on accounting of bills of exchange provided in National Bank.

2. Make additions and change to the following presidential decrees of the Republic of Belarus:

2.1. in subitem 1.6 of Item 1 of the Presidential decree of the Republic of Belarus of April 28, 2006 No. 278 "About enhancement of regulation of circulation of bills in the Republic of Belarus" (The national register of legal acts of the Republic of Belarus, 2006, No. 71, 1/7530):

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