RESOLUTION OF BOARD OF THE NATIONAL BANK OF UKRAINE

of October 13, 2016 No. 392

About approval of the Regulations on application by the National Bank of Ukraine of sanctions for violation of requirements of the Law of Ukraine by banks "About financial restructuring"

According to Articles 7, of 15, of 55, 56 Laws of Ukraine "About the National Bank of Ukraine", to Articles 66, 67 and to Item 7 of the Section VII of Final provisions of the Law of Ukraine "About banks and banking activity", to articles 30, of 31 Law of Ukraine "About financial restructuring" the Board of the National Bank of Ukraine decides:

1. Approve Regulations on application by the National Bank of Ukraine of sanctions for violation of requirements of the Law of Ukraine by banks "About financial restructuring" it (is applied).

2. Delegate to Committee on questions of supervision and regulation of activities of banks, supervision (oversight) of payment systems of power on application to banks of sanctions for violations of requirements of the Law of Ukraine "About financial restructuring".

3. To legal department (Overseas A.V.):

in case of receipt in the National Bank of Ukraine of offers on application of sanctions against banks for violation of requirements of the Law of Ukraine "About financial restructuring" to provide their consideration, preparation of drafts of relevant decisions and their submitting for examination of Committee on questions of supervision and regulation of activities of banks, supervision (oversight) of payment systems;

bring contents of this resolution to the attention of banks of Ukraine.

4. To impose control over the implementation of this resolution on the acting as the vice-chairman of the National Bank of Ukraine Rozhkova K. V.

5. The resolution becomes effective from the date of, its official publication following behind day, but not earlier than day of entry into force of the Law of Ukraine "About financial restructuring".

Approved by the Resolution of Board of the National Bank of Ukraine of October 13, 2016 No. 392

Regulations on application by the National Bank of Ukraine of sanctions for violation of requirements of the Law of Ukraine by banks "About financial restructuring"

I. General provisions

1. This Provision is developed according to the Law of Ukraine "About financial restructuring" (further - the Law on restructuring) and determines procedure for application by the National Bank of Ukraine (further - National Bank) the stipulated in Article 30 Laws on restructuring of sanctions against banks for violations of requirements of this law.

2. The terms used in this Provision are used in the values determined in the Law on restructuring and other legal acts of Ukraine and regulatory legal acts of National Bank.

3. The National Bank applies the sanctions provided by parts two and third article 30 of the Law on restructuring against banks which according to this Law are the involved by creditors or connected persons of the debtor (further - banks).

II. Procedure for application of sanctions

4. The National Bank applies to banks of the sanction, provided by parts two and third article 30 of the Law on restructuring, based on the offers received from debtors and also the supervisory board, the secretariat or arbitration committee created according to the Law on restructuring (further - the initiator).

5. The decision on application of sanctions against banks is made by Committee on questions of supervision and regulation of activities of banks, supervision (oversight) of payment systems (further Committee on questions of supervision) according to this Provision.

The National Bank makes the decision on application of the sanction against bank within 30 calendar days from the date of obtaining from the initiator of complete document package confirming the fact of the violation of requirements of the Law on restructuring allowed by bank.

6. The initiator represents the offer on application to bank of the sanction for any of the violations provided by parts two and third article 30 of the Law on restructuring, on paper behind the authorized signature. The initiator attaches to such offer the description of the violation made by bank and copies of the supporting documents (in case of their availability) certified by the initiator.

7. The authorized structural division of the National Bank of Ukraine which performs consideration of the proposal of the initiator on application to bank of the sanction for violation by it of requirements of the Law on restructuring (further the authorized structural division) by consideration of the offer on application of the sanction has the right to address the initiator concerning provision of additional documents and/or information necessary for clarification of the fact of violation.

8. By consideration of offers on application to banks of sanctions for violation of requirements of the Law on restructuring the authorized structural division has the right to address to the secretariat and arbitration committee for receipt of copies of supporting documents and their line item concerning violation which is consideration subject, and also to receive from banks of explanation and the copy of supporting documents about the fact of such violations.

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