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Ministry of Justice of Ukraine

December 16, 2013

No. 2121/24653

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

of November 26, 2013 No. 2672

About approval of the Regulations on requirements to the service provision agreement on value assessment of real estate of institute of joint investment

According to article 72 of the Law of Ukraine "About institutes of joint investment", to the Law of Ukraine "About assessment of property, property rights and professional estimative activity in Ukraine" the National commission on securities and the stock market RESHILA:

1. Approve Regulations on requirements to the service provision agreement on value assessment of real estate of institute of joint investment which is applied.

2. Declare invalid the decision of State commission on securities and the stock market of October 23, 2001 No. 313 "About approval of the Regulations on requirements to the service provision agreement on value assessment of real estate of institute of joint investment", registered in the Ministry of Justice Ukraine on December 11, 2001 at No. 1026/6217 (with changes).

3. To provide to department of general investment and regulation of activities of institutional investors (A. Simonenko) submission of this decision on state registration in the Ministry of Justice of Ukraine.

4. To provide to management of information technologies, external and internal communications (A.Zaik):

publication of this decision in the official printing publication of the National commission on securities and the stock market;

promulgation of this decision on the official site of the National commission on securities and the stock market.

5. This decision becomes effective since January 1, 2014, but not earlier than day of its official publication.

6. Control over the implementation of this decision to assign to the member of the National commission on securities and the stock market A. Tarasenko.

Commission chairman

D. Tevelev

It is approved:

Chairman of Public service of Ukraine

concerning regulatory policy and

developments of entrepreneurship

 

 

 

M. Yu. Brodsky

Chairman Fonda

state-owned property of Ukraine

 

A. Ryabchenko

Approved by the Decision of the National commission on securities and the stock market of November 26, 2013 No. 2672

Regulations on requirements to the service provision agreement on value assessment of real estate of institute of joint investment

I. General provisions

1. In this Provision the term "appraiser of property of institute of joint investment" (further - the appraiser of property of ISI) is used in the value given in article 72 of the Law of Ukraine "About institutes of joint investment".

Other terms are used in this Provision according to the Laws of Ukraine "About institutes of joint investment", "About assessment of property, property rights and professional estimative activity in Ukraine".

2. Provision of services on real estate appraisal of institute of joint investment (further - ISI) is performed by the appraiser of property of ISI - the subject of estimative activities, according to the Law of Ukraine "About assessment of property, property rights and professional estimative activity in Ukraine" which received the certificate of the subject of estimative activities and is included in the State register of appraisers and subjects of estimative activities, on condition of observance of the restrictions set by part four of article 72 of the Law of Ukraine "About institutes of joint investment" and the legislation on assessment of property, property rights and professional estimative activity in Ukraine based on the agreement on assessment of property of ISI (further - the Agreement).

3. The agreement is signed:

1) for corporate investment fund (further - corporate fund) - on behalf of corporate fund between the company for asset management and the appraiser of property of ISI.

The company on asset management of corporate fund acts as the representative of corporate fund in relations with the appraiser of property of ISI for the Agreement based on the Law of Ukraine "About institutes of joint investment" and agreements on asset management of corporate fund.

The agreement shall be approved by general meeting of members of this fund;

2) for mutual investment fund (further - share fund) - between the company on asset management and the appraiser of property of ISI.

4. Remuneration is paid to the appraiser of property of ISI for the asset account ISI according to the procedure, the established Regulations on structure and the size of expenses which are refunded for the asset account of institute of joint investment, the approved decision of the National commission on securities and the stock market of August 13, 2013 to No. 1468, registered in the Ministry of Justice of Ukraine on September 3, 2013 at No. 1516/24048, according to the Agreement, and also with observance of requirements of the legislation on assessment of property, property rights and professional estimative activity in Ukraine.

II. Requirements to the service provision agreement according to property

1. The agreement shall conform to general requirements which are provided by the current legislation of Ukraine.

2. The agreement is signed in writing.

3. The agreement shall contain the essential conditions determined by part one of article 74 of the Law of Ukraine "About institutes of joint investment" and part four of article 11 of the Law of Ukraine "About assessment of property, property rights and professional estimative activity in Ukraine".

4. In the agreement shall be specified:

1) agreement parties:

the contractor - the appraiser of property of ISI for which in the Agreement effective period of the certificate of the subject of estimative activities allowing to perform assessment in the direction which corresponds to assessment object type is specified;

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