DECREE OF THE CABINET OF MINISTERS OF UKRAINE

of February 19, 1993 No. 15-93

About system of currency control and currency exchange control

This Decree sets the mode of implementation of currency transactions in the territory of Ukraine, determines the general principles of currency control, powers of state bodies and function of banks and other financial institutions of Ukraine in currency management, the rights and obligations of subjects of the currency relations, procedure of currency exchange control, responsibility for violation of the foreign exchange legislation.

Section I General provisions

Article 1. Determination of terms

The terms used in this Decree have the following value:

1) currency values:

currency of Ukraine - bank notes in the form of banknotes, treasury notes, coins and in other forms which are in circulation and being legal means of payment in the territory of Ukraine, and also to exchange for the bank notes withdrawn from circulation or withdrawn from it, but subject which are in circulation, means on accounts in fees in bank and other financial institutions in the territory of Ukraine;

the payment documents and other securities (shares, bonds, coupons to them, bonds, bills of exchange (bill of exchange), debentures, letters of credit, checks, bank orders, deposit certificates, savings books, other financial and bank documents) expressed in currency of Ukraine;

foreign currency - foreign bank notes in the form of banknotes, treasury notes, coins which are in circulation and which are legal means of payment in the territory of the corresponding foreign state, and also to exchange for the bank notes withdrawn from circulation or withdrawn from it, but subject which are in circulation, the means in monetary units of foreign states and the international settlement (clearing) units which are on accounts or brought in bank and other financial institutions outside Ukraine;

the payment documents and other securities (shares, bonds, coupons to them, bills of exchange (bill of exchange), debentures, letters of credit, checks, bank orders, deposit certificates, other financial and bank documents) expressed in foreign currency or bank metals;

bank metals are the gold, silver, platinum, metals of platinum group brought (affined) to the highest tests according to the international standards in the ingots and powders having the quality certificate, and also the coins made of precious metals.

For the purposes of this Decree further under terms:

"the currency of Ukraine" is understood as actually currency of Ukraine, and the payment documents and other securities expressed in currency of Ukraine;

"foreign currency" is understood both actually foreign currency, and the bank metals, payment documents and other securities expressed in foreign currency or bank metals;

2) "currency transactions":

the transactions connected with transition of the property right to currency values, except for the transactions performed between residents in currency of Ukraine;

the transactions connected with use of currency values in the international address as instruments of payment, with transfer of debts and other obligations which subject are currency values;

the transactions connected with import, transfer and transfer to the territory of Ukraine and export, transfer and transfer out of its limits of currency values;

3) "authorized bank" - any commercial bank officially registered in the territory of Ukraine, having the license of the National Bank of Ukraine for implementation of currency transactions, and also exercising currency control over transactions of the clients;

4) "convertible currency" - the foreign currency referred to this category by the National Bank of Ukraine;

5) "residents":

the physical persons (citizens of Ukraine, foreign citizens, stateless persons) having the permanent residence in the territory of Ukraine, including temporarily being abroad;

the legal entities, subjects of business activity who do not have the status of the legal entity (branches, representations, etc.), with the location in the territory of Ukraine, performing the activities based on the laws of Ukraine;

the diplomatic, consular, trade and other official representations of Ukraine abroad using immunity and diplomatic privileges and also branches and representative offices of the companies and the organizations of Ukraine abroad which are not performing business activity;

b) "nonresidents":

the physical persons (foreign citizens, citizens of Ukraine, stateless persons) having the permanent residence outside Ukraine, including temporarily being in the territory of Ukraine;

the legal entities, subjects of business activity who do not have the status of the legal entity (branches, representations, etc.), with the location outside Ukraine, created and acting according to the legislation of foreign state, including legal entities and other subjects of business activity with participation of legal entities and other subjects of business activity of Ukraine;

the foreign diplomatic, consular, trade and other official missions located in the territory of Ukraine, the international organizations and their branches using immunity and diplomatic privileges and also the representative offices of other organizations and firms which are not performing business activity based on the laws of Ukraine.

The Section II of Transaction with currency values

Article 2. Property right to currency values

1. Residents and nonresidents have the right to be owners of the currency values which are in the territory of Ukraine. Residents have the right to be owners of also currency values which are outside Ukraine except the cases provided by legal acts of Ukraine.

2. Residents and nonresidents have the right to perform currency transactions taking into account the restrictions set by this Decree and other acts of the foreign exchange legislation of Ukraine.

Article 3. Status of currency of Ukraine

1. The currency of Ukraine is the single legal tender currency in the territory of Ukraine which is accepted without restrictions for payment of any requirements and obligations if other is not provided by this Decree, other acts of the foreign exchange legislation of Ukraine.

2. The procedure for import, the translation and transfer from abroad, and also export, transfer and transfer abroad by residents and nonresidents of currency of Ukraine is determined by the National Bank of Ukraine.

The amounts in currency of Ukraine which were exported, translated, sent on legal causes abroad can be freely imported, sent, transferred back to Ukraine.

Article 4. Procedure for use of receipts in foreign currency

1. Item 1 of Article 4 is excluded according to the Law of Ukraine of 03.06.1997 No. 295/97-BP

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