RESOLUTION OF COUNCIL OF MINISTERS OF THE REPUBLIC OF BELARUS AND NATIONAL BANK OF THE REPUBLIC OF BELARUS

of March 4, 2016 No. 177/8

About determination National Forex center and approval of the Regulations on activities National Forex center

Based on parts one and third Item 6 of the Presidential decree of the Republic of Belarus of June 4, 2015 No. 231 "About implementation of activities in the Forex curb market" Council of Ministers of the Republic of Belarus and National Bank of the Republic of Belarus POSTANOVLYAYUT:

1. Determine Belarusian Currency and Stock Exchange open joint stock company National Forex center.

The Belarusian Currency and Stock Exchange open joint stock company has the right to perform activities for making initiated Forex companies, banks, the non-bank credit and financial organizations of transactions with non-deliverable off-exchange financial instruments (activities in the Forex curb market) after adoption of the corresponding legal act.

2. Approve Regulations on activities National Forex center (is applied).

3. This resolution becomes effective since March 7, 2016.

Approved by the Resolution of Council of Ministers of the Republic of Belarus and National Bank of the Republic of Belarus of March 4, 2016 No. 177/8

Regulations on activities National Forex center

Chapter 1. General provisions

1. This Provision establishes procedure for activities National Forex center (further – NFTs), procedure for forming, including introduction by the legal entities registered in the Republic of Belarus whose authorized capital is created taking into account requirements of the Presidential decree of the Republic of Belarus of June 4, 2015 No. 231 in the amount of at least 200 thousand Belarusian rubles, and included National Bank in the register in Forex companies (further – Forex company), banks, the non-bank credit and financial organizations of fees in guarantee fund and the sizes of these fees, procedure for return of the deposited funds Forex companies, to banks, the non-bank credit and financial organizations (further – subjects of the Forex curb market), the extreme amount of payments from guarantee fund to the physical and (or) legal entities who signed the agreement on making of transactions with non-deliverable off-exchange financial instruments with subjects of the Forex curb market (further – clients), according to obligations of subjects of the Forex curb market.

2. NFTs in the activities is guided by the Constitution of the Republic of Belarus, the laws of the Republic of Belarus, acts of the President of the Republic of Belarus, this Provision and other acts of the legislation.

Chapter 2. Main objectives and NFTs functions

3. The main objectives provided in part four of Item 6 of the Presidential decree of the Republic of Belarus of June 4, 2015 No. 231 are assigned to NFTs.

4. For the purpose of realization of the main objectives of NFTs:

4.1. performs collection, systematization, accounting and storage of the reporting on all transactions made by subjects of the Forex curb market with non-deliverable off-exchange financial instruments according to regulations of collection, systematization, accounting and storage of the reporting on all transactions made by subjects of the Forex curb market with non-deliverable off-exchange financial instruments, the approved NFTs, and represents it to National Bank;

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