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PRESIDENTIAL DECREE OF THE REPUBLIC OF BELARUS

of January 18, 2016 No. 12

About Belarusian Currency and Stock Exchange open joint stock company

For the purpose of development of the organized financial market, enhancement of procedure for carrying out the exchange biddings and calculations in the conditions of the Eurasian Economic Union:

1. Determine that:

1.1. the Belarusian Currency and Stock Exchange open joint stock company (further - the exchange) for the purpose of implementation of clearing and calculations for operations on the stock exchange without receipt of special permission (license) for implementation of banking activity has the right according to the legislation:

open correspondent accounts in National Bank and other banks (the non-bank credit and financial organizations);

open and operate accounts which opening is directly connected with carrying out calculations for the exchange biddings and transactions performed by the exchange;

carry out calculations in non-cash form through the correspondent and other accounts opened by the exchange in National Bank and other banks (the non-bank credit and financial organizations);

perform currency exchange transactions, including at own biddings, directly connected with implementation of clearing and calculations;

create funds which means will be used for provision of ensuring obligation fulfillment according to the made transactions at the biddings by foreign currency (further - guarantee funds), at the expense of own means, fees of the legal entities admitted to trading by foreign currency, and other sources which are not forbidden by the legislation of the Republic of Belarus, according to the procedure, determined in coordination with National Bank. Money in Belarusian rubles and foreign currency, and also bank issued securities can act as means of guarantee funds;

place means of guarantee funds on its own behalf on accounts, including accounts on deposits (deposits), in National Bank and other banks, in government securities of the Republic of Belarus, securities of National Bank, the bond of banks and "Development Bank of the Republic of Belarus" open joint stock company according to the procedure, determined in coordination with National Bank;

1.2. the exchange guarantees observance of bank secrecy of bidders. Employees of the exchange shall keep bank secrecy, except as specified, provided by legal acts. The data which are bank secrecy are provided by the exchange according to legal acts according to the procedure, established for banks and the non-bank credit and financial organizations;

1.3. the exchange reflects the transactions made by it in financial accounting, and also constitutes accounting (financial) records according to the regulatory legal acts of National Bank regulating questions of financial accounting and accounting (financial) records for banks and the non-bank credit and financial organizations;

1.4. calculation of taxes, charges (duties) and execution of the tax liabilities of the exchange are made according to the procedure, established by the Tax code of the Republic of Belarus for banks and the non-bank credit and financial organizations;

1.5. the exchange performs the organization of stock exchange trading by financial assets, including currency values and issued securities, except for shares of private companies.

2. Grant to National Bank the right to raise money of the exchange into accounts and (or) in deposits (deposits), to perform opening and maintaining bank accounts of the exchange, and also to perform currency transactions with the exchange.

3. Recognize invalid:

Item 2 of the Presidential decree of the Republic of Belarus of April 28, 2006 No. 277 "About some questions of regulation of the security market" (The national register of legal acts of the Republic of Belarus, 2006, No. 71, 1/7529);

subitem 1.3 of Item 1 of the Presidential decree of the Republic of Belarus of April 3, 2008 No. 194 "About introduction of amendments and changes in the Presidential decree of the Republic of Belarus of April 28, 2006 No. 277" (The national register of legal acts of the Republic of Belarus, 2008, No. 83, 1/9602).

4. To Council of Ministers of the Republic of Belarus and National Bank in six-months time:

provide reduction of acts of the legislation in compliance with this Decree;

take other measures necessary for realization of provisions of this Decree.

5. This Decree becomes effective in the following procedure:

subitems 1.1-1.4 of Item 1 and Item 2 - in six months after official publication of this Decree;

other provisions of this Decree - after its official publication.

President of the Republic of Belarus

A. Lukashenko

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info

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