Document from CIS Legislation database © 2003-2021 SojuzPravoInform LLC

PRESIDENTIAL DECREE OF THE REPUBLIC OF BELARUS

of July 14, 2016 No. 268

About creation and activities of Asset Management Agency open joint stock company

(as amended on 20-07-2021)

For the purpose of creation of conditions for complex reforming of system of financing of agricultural production, and also increase in the normative capital of Belagroprombank open joint stock company and ensuring its long-term sustainable development:

1. Determine that:

1.1. founders of Asset Management Agency open joint stock company (further - the Agency) are the Republic of Belarus and areas.

The body acting on behalf of the Republic of Belarus under organization of the Agency is the State committee on property.

The shares of the Agency belonging to the Republic of Belarus are delivered in trust management to Belagroprombank open joint stock company (further - JSC Belagroprombank) based on the agreement signed with the State committee on property and approved with the Ministry of Finance;

1.2. The agency is not bank, the non-bank credit and financial organization in the values determined in articles 8 and 9 of the Bank code of the Republic of Belarus, and during its creation, reorganization and liquidations, and also when implementing of activities by it (except as specified, provided by this Decree) are not applied the requirements of the legislation provided for banks and the non-bank credit and financial organizations.

The agency performs activities according to the legislation and the charter taking into account the features provided by this Decree;

1.3. the main objectives of the Agency are:

acquisition at banks and "Development Bank of the Republic of Belarus" open joint stock company (further – Development bank) based on contracts of assignment of the requirement of assets according to the list of assets and borrowers approved by Council of Ministers of the Republic of Belarus and National Bank proceeding from offers of the regional executive committees approved with banks and Development bank (further – the list of assets), created on the loans granted by banks and Development bank to the agricultural organizations * (further – borrowers) which are registered on balance and off-balance sheet accounts of financial accounting of banks and Development bank (further, unless otherwise specified, – the credits), and also servicing of these credits. For preparation of the specified offers information on the credits is submitted borrowers in regional executive committees proceeding from the location of the borrower;

acquisition at JSC Belagroprombank and Development bank based on contracts of assignment of the requirement of assets according to the list of the assets and borrowers approved by Council of Ministers of the Republic of Belarus ** (further – the list of assets and borrowers), created on the loans granted by JSC Belagroprombank and Development bank to the fish-breeding organizations *** (further – the fish-breeding organizations – borrowers), JSC Belagroprombank which is registered on balance and off-balance sheet accounts of financial accounting and Development bank (further, unless otherwise specified, – the loans granted to the fish-breeding organizations), and also servicing of these credits;

participation in accordance with the established procedure in pre-judicial improvement of borrowers, the fish-breeding organizations – borrowers;

provision of delay (payment by installments) of repayment of principal debt on the credits specified in paragraphs second and third this subitem;

provision of delay (payment by installments) of repayment of the interest for using the credits added by Development bank before date of concession of the requirement;

______________________________

* For the purposes of this Decree agricultural organizations are understood as the organizations included in the list of the agricultural organizations which are subject to pre-judicial improvement or in the list of agricultural organizations concerning which holding procedures of economic insolvency (bankruptcy), the Republic of Belarus approved by Council of Ministers according to the legislation is necessary.

** According to the offers of the Ministry of Agriculture and Food approved with regional executive committees, JSC Belagroprombank and Development bank.

*** For the purposes of this Decree the fish-breeding organizations are understood as legal entities, including their separate divisions which core activity is the fish breeding which insolvency acquires or has steady nature or at which following the results of the year preceding year in which the decision on transfer of assets in the Agency is made coefficient of current liquidity and coefficient of security with own current assets less 1,5 and 0,2 respectively have values (except for the organizations concerning which proceeedings about economic insolvency (bankruptcy) are initiated or the decision on liquidation is made).

1.4. the assets acquired by the Agency include principal debt on the credits, principal debt on the loans granted to the fish-breeding organizations and also the interest for using the credits added by Development bank before date of concession of the requirement.

In case of acquisition of assets pass the rights of the pawnbroker under agreements of pledge (mortgage) to the Agency concerning being in pledge (mortgage) at banks and Development bank of property.

State registration of transition of the rights of the pawnbroker under the agreement of mortgage (including on which the mortgage is issued) is performed based on the statement of any of participants of the transaction on transfer of assets with appendix of the copy of the contract of assignment of the requirement certified by the applicant. At the same time the contract of assignment of the requirement is not subject to state registration.

Fee on state registration of transition of the rights of the pawnbroker under the agreement of mortgage is performed by banks and Development bank with inclusion of expenses in structure of costs on production and sales of goods (works, services), the property rights considered in case of the taxation;

1.5. from the date of transfer of assets:

compensation (compensation) of part of interest for using the credits specified in paragraphs second and third subitem 1.3 of this Item from means republican and local budgets is not performed, and the guarantees of the Government of the Republic of Belarus, local executive and administrative organs provided in ensuring return of these credits terminate;

the interest rate for use of the credits is established in the amount of 3 annual interest rates with monthly payment of percent;

the deferred settlement of principal debt on the credits for a period of up to three years with subsequent its payment by installments for a period of up to five years according to the procedure determined by the Agency is granted;

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