THE ORDER OF THE NATIONAL COMMISSION PERFORMING STATE REGULATION IN THE FIELD OF THE MARKETS OF FINANCIAL SERVICES OF UKRAINE

of February 23, 2016 No. 393

About modification of the Procedure of the separate actions connected with the termination of non-state pension funds

According to Item of 1 part one of article 28 of the Law of Ukraine "About financial services and state regulation of the markets of financial services", to the paragraph to the fourth part five of Article 6 and part six of article 17 of the Law of Ukraine "About non-state pension provision", to Item 13 of the Regulations on the National commission performing state regulation in the field of the markets of financial services, No. approved by the Presidential decree of Ukraine of November 23, 2011 1070, and also for the purpose of enhancement of state regulation of activities for provision of services on non-state pension provision the National commission performing state regulation in the field of the markets of financial services DECIDED:

1. Make changes to the Procedure of the separate actions connected with the termination of non-state pension funds, No. approved by the order of State commission on regulation of the markets of financial services of Ukraine of August 29, 2006 6154, registered on September 19, 2006 for No. 1058/12932, having been reworded as follows it which is applied the Ministry of Justice of Ukraine.

2. To provide to department of regulation and supervision of organizations of accumulative provision of pensions together with department of legal providing and maintaining the register of financial institutions submission of this order to the Ministry of Justice of Ukraine for state registration.

3. This order becomes effective from the date of its official publication.

4. To provide to the sector of public relations and the protocol promulgation of this order after its state registration.

5. Control over the implementation of this order to assign to the member Natskomfinuslug Gurbich A. I.

Approved by the Order of State commission on regulation of the markets of financial services of Ukraine of August 29, 2006, No. 6154

(in edition of the Order of the National commission performing state regulation in the field of the markets of financial services of Ukraine of February 23, 2016 No. 393)

Procedure of the separate actions connected with the termination of non-state pension funds

I. General provisions

1. This Procedure of the separate actions connected with the termination of non-state pension funds (further - the Procedure), is applied in case of the termination of the non-state pension funds (further - the pension fund) created according to the Law of Ukraine "About non-state pension provision" (further - the Law).

2. This Procedure determines features of holding procedure of the termination of the pension funds by their liquidation or reorganization (accession or merge).

3. In this Procedure terms are used in the following values:

merge - the termination of activities of two or more pension funds of one type as legal entities and transfer of all rights and obligations to the legal successor to the pension fund created as a result of such reorganization;

the commission on the termination - liquidation commission of the pension fund in case of its liquidation or the commission on reorganization of the pension fund in case of its termination by accession or merge formed according to the Section II of this Procedure;

liquidation - the termination of pension fund activity from which its termination as the legal entity without legal successors results;

the body which made the decision on the termination of the pension fund - authorized body of the individual founder (the founder's legal successor) of the pension fund, either meeting of founders of the pension fund, or court, or the National commission performing state regulation in the field of the markets of financial services in the cases provided by the Law and this Procedure;

accession - the termination of pension fund activity as legal entity and transfer of all rights and obligations of such pension fund to the legal successor as whom other pension fund of the same type acts.

Other terms in this Procedure are used in the values given in the Law.

4. The termination of the pension fund can result only:

liquidations;

accessions;

merges.

The termination of the pension fund by separation or transformation to other type of the pension fund is not allowed.

II. Procedure for education, structure, powers and procedure for functioning of the commission on the termination of the pension fund

1. In case of decision making about the termination of the pension fund according to requirements of the Law the body which made such decision appoints the commission on the termination and the commission chairman on the termination. The commission on the termination is formed in number of at least three people.

2. In structure of the commission on the termination is designated person who:

is capable;

it was not condemned for intentional crimes;

within the last seven years was not the head of the legal entity declared bankrupt or subjected to the procedure of involuntary liquidation during stay of this person on executive position;

has complete higher education and work experience in the field of non-state pension provision at least three years.

3. In structure of the commission on the termination members of council of the pension fund which stops can be appointed.

4. From the date of approval of Natskomfinuslug of the decision on the termination of the pension fund, or appointment by a court decision of liquidation commission or appointment of the commission on the termination of Natskomfinuslug in case of acceptance by it according to the paragraph the second parts two of article 16 of the Law or in other cases established by the law, decisions on the termination of the pension fund appoints governing body of the pension fund the commission on the termination to which pass all powers on management of the pension fund.

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