THE DECISION OF STATE COMMISSION ON SECURITIES AND THE STOCK MARKET

of May 8, 2001 No. 144

About implementation of the state control of activities of stock exchanges

According to articles 7 of the Law of Ukraine "About state regulation of the security market in Ukraine" State commission on securities and the stock market solved:

1. Approve Regulations on the state representatives on the stock exchanges.

2. Abolish the decision of State commission on securities and the stock market of 06.07.99 of N140 "About Implementation of the State Control of Activities of Stock Exchanges, Depositaries and Trade and Information Systems".

3. I reserve control of execution of this decision.

Approved by the Decision of State commission on securities and the stock market of May 8, 2001 No. 144

Regulations on the state representatives on the stock exchanges

This Provision is developed according to the Laws of Ukraine "About state regulation of the security market in Ukraine". The provision determines procedure for appointment and power of the state representatives on the stock exchanges which function in Ukraine.

1. The state representative on the stock exchange, (further - the state representative) is appointed by the relevant decision of the National commission on securities and the stock market from structure of authorized persons of the National commission on securities and the stock market.

2. The state representative exercises control on behalf of the state of observance of provisions of the charter and rules of stock exchanges.

3. The state representative has the right:

3.1. Be present at general meetings (conferences and so forth) shareholders (participants) of stock exchange, exchange auctions (trading sessions), to participate in work of council and other governing bodies of stock exchange.

3.2. Submit the questions which are these governing bodies, obligatory for consideration, for consideration of council and other governing bodies of stock exchange. Results of consideration of questions are drawn up in writing and are provided to the state representative.

3.3. Receive in the procedure established by the current legislation and within competence information for control of observance of provisions of the charter and stock exchange rules, in particular information:

- having a direct bearing on activities of members and / or members of stock exchange, brokers (traders, authorized persons), employees of committees (the commissions, sections);

- about activities of the infrastructure organizations serving the securities trading;

- about activities for provision of services for storage of securities and / or accounting of the property rights to securities, and also for servicing of contracts (contracts) with securities;

- about issuers whose securities are introduced into sale and are served by stock exchange;

- concerning securities which are admitted to trading on the stock exchange.

The state representative has the right to require systematic provision:

- information on the daily transactions executed by stock exchange;

- messages on rates of securities;

- final quarterly data on activities of stock exchange according to regulatory legal acts of the National commission on securities and the stock market.

Upon the demand of the state representative, except regular information, stock exchange shall provide other information which disclosure does not contradict the current legislation of Ukraine.

3.4. In case of violation by stock exchange of the legislation on securities, the charter and stock exchange rules to stop trade on it before elimination of such violations according to the law.

3.5. Stop the biddings on the stock exchange in case:

trade on the stock exchange securities which release is not registered according to the legislation of Ukraine;

entering of securities into the exchange register without initiative of the issuer of these securities;

findings of securities of one type of one issuer in two levels of listing at the same time on one stock exchange;

uses by stock exchange unregistered in the National commission on securities and the stock market of Stock exchange rules or changes to them.

3.6. Stop the biddings on the stock exchange before elimination of violations in case:

the conclusions of exchange contracts (agreements) according to applications which were submitted by one participant of the exchange biddings;

the conclusions on the stock exchange of non-standard exchange contracts (agreements);

identifications of signs of manipulation during tendering.

3.7. To appoint temporary (for a period of up to two months) heads of stock exchanges, and other organizations of infrastructure of the stock market, to stop or stop the admission of securities on stock exchanges or trade in them on any stock exchange, to stop clearing and the conclusion of purchase and sale agreements for certain term for protection of interests of the state, investors according to the law.

4. Actions of the state representative can be appealed in the National commission on securities and the stock market and judicially.

5. Organizational support of activities of the state representative performs the device which number is determined by the National commission on securities and the stock market.

6. The stock exchange, trade and information system for the period and for the purpose of realization of functions of the state representative and his device provide them with the equipped rooms, necessary technical means and means of communication.

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