Document from CIS Legislation database © 2003-2021 SojuzPravoInform LLC

According to the Order of the Ministry of Justice of Ukraine of September 5, 2016 No. 2631/5  state registration of this Decision it is cancelled, the Decision is excluded from the State register of regulatory legal acts of the ministries and other executive bodies on September 20, 2016

It is registered

Ministry of Justice of Ukraine

July 17, 2015

No. 861/27306

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

of July 10, 2015 No. 980

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

According to 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 procedure for inclusion of the issuer in the 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 of the issuers having fictitiousness signs which is applied.

2. 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.

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

4. And clerical works (A.Zaik) to provide to management of information technologies promulgation of this decision on the official site 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. Control over the implementation of this decision to assign to the member of the National commission on securities and the stock market D. Tarabakin.

Commission chairman

T. Hromayev

Approved by the Decision of the National commission on securities and the stock market of Ukraine of July 10, 2015 No. 980

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

1. This Provision determines:

1) signs of fictitiousness of the issuer of securities;

2) procedure for decision making about inclusion of the issuer in the list of the issuers having fictitiousness signs (further the List), and exceptions of the List.

2. In this Provision the term "capitalization" is used in such value - the arithmetic average of the last stock exchange rates of shares calculated for every month of quarter (or for the last month, if the circulation of shares was performed less than three months) increased by quantity of outstanding shares.

3. Action of this provision does not extend to such issuers:

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

2) Public mortgage institution;

3) non-bank financial institutions (except corporate investment funds);

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) international financial institutions;

7) Fund of guaranteeing household deposits;

8) city councils;

9) Autonomous Republic of Crimea.

4. Signs, compliance to which is the basis for decision making about inclusion of the issuer (except institutes of joint investment) in the List:

1) established by the National commission on securities and the stock market (further - the Commission) the fact of absence of the issuer on the location;

2) non-presentation by the issuer in the Commission of regular annual information or regular quarter information within two quarters in a row;

3) not holding 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) excess of ratio of capitalization of the issuer to the size of proceeds from sales of goods (works, services) more than by 3 times according to the financial reporting of the issuer given to the Commission as of the end of the accounting period (for public joint stock companies);

5) excess of ratio of capitalization of the issuer to net assets value of such issuer more than by 3 times according to the financial reporting of the issuer given to the Commission as of the end of the accounting period (for shares of public joint stock companies);

6) the prevailing share of assets of the issuer (more than 80 percent) is constituted by financial investments, and/or receivables, and/or bills of exchange according to the financial reporting of the issuer given to the Commission 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 ten people according to the financial reporting of the issuer given to the Commission as of the end of the accounting period (for public joint stock companies);

8) average monthly expenses of the issuer on compensation on average on one worker are less than the triple minimum size of the salary determined by the legislation for date of creation of the financial reporting of the issuer according to such reporting provided to the Commission as of the end of the accounting period;

9) registration of the location of the issuer in dwelling stock;

10) 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. Signs, compliance to which is the basis for decision making about inclusion of corporate investment fund in the List:

1) non-presentation by corporate investment fund in the Commission of regular information as of the end of the next accounting period after the expiration of replacement of the company on asset management;

2) not holding general shareholder meeting by corporate investment fund within two years in a row;

Warning!!!

This is not a full text of document! Document shown in Demo mode!

If you have active License, please Login, or get License for Full Access.

With Full access you can get: full text of document, original text of document in Russian, attachments (if exist) and see History and Statistics of your work.

Get License for Full Access Now

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

Effectively work with search system

Database include more 50000 documents. You can find needed documents using search system. For effective work you can mix any on documents parameters: country, documents type, date range, teams or tags.
More about search system

Get help

If you cannot find the required document, or you do not know where to begin, go to Help section.

In this section, we’ve tried to describe in detail the features and capabilities of the system, as well as the most effective techniques for working with the database.

You also may open the section Frequently asked questions. This section provides answers to questions set by users.

Search engine created by SojuzPravoInform LLC. UI/UX design by Intelliants.