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Ministry of Justice of Ukraine

December 19, 2013

No. 2156/24688

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

of November 26, 2013 No. 2669

About approval of the Regulations on features of financial accounting of transactions of institutes of joint investment

(as amended on 06-10-2015)

According to part four of article 49 of the Law of Ukraine "About institutes of joint investment", to Item 13 of article 8 of the Law of Ukraine "About state regulation of the security market in Ukraine", to the Law of Ukraine "About financial accounting and the financial reporting in Ukraine" the National commission on securities and the stock market RESHILA:

1. Approve Regulations on features of financial accounting of transactions of institutes of joint investment which are applied.

3. To provide to department of the analysis, strategy and development of the legislation (M. Libany) 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 from the date of its official publication, but not earlier than since January 01, 2014.

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

Commission chairman

D. Tevelev

It is approved:

First Deputy Minister

finance of Ukraine

 

 

A. Myarkovsky

Chairman State

services of Ukraine on questions

regulatory policy and

developments of entrepreneurship

 

 

 

M. Yu. Brodsky

Approved by the Decision of the National commission on securities and the stock market of Ukraine of November 26, 2013 No. 2669

Regulations on features of financial accounting of transactions of institutes of joint investment

I. General provisions

1. Financial accounting of activities of institutes of joint investment (further - ISI) is performed according to the Law of Ukraine "About financial accounting and the financial reporting in Ukraine", International accounting standards (further - IFRS).

2. Business and tax accounting of the transactions and results of activities for joint investment which are carried out by the company on asset management through share fund is performed by the company on asset management separately from accounting of transactions and results of its economic activity and accounting of transactions and results of activities of other ISI which assets are in its management.

II. Features of financial accounting of equity of institutes of joint investment

1. Increase in the authorized capital of corporate investment fund which is performed by share issue of corporate investment fund for the purpose of joint investment in the amount of nominal value of registered shares is reflected as the authorized capital based on data on registration of changes in the charter in bodies of state registration. At the same time nominal value registered, but not placed shares of corporate investment fund is reflected as the unpaid capital.

2. The mutual investment fund is created by the company on asset management. Financial accounting of transactions and results of activities of mutual investment fund is conducted from the date of its creation.

Registration of release of investment certificates of mutual investment fund in the amount of nominal value of the registered investment certificates is displayed as the share capital based on data on receipt of the registration certificate of release of investment certificates of mutual investment fund. At the same time nominal value of the registered, but not placed investment certificates of mutual investment fund is reflected as the unpaid capital.

3. After entering of corporate investment fund into the register of ISI and registration of share issue for the purpose of implementation of joint investment share placing of this fund is performed at settlement cost.

4. After creation of mutual investment fund and obtaining by the company on asset management of the notification of the National commission on securities and the stock market about compliance of mutual investment fund to requirements of rather minimum amount of assets of ISI placement of investment certificates of this fund is performed at settlement cost.

5. In case of initial public offering of corporate investment fund after acquisition of property right to shares the amount of the unpaid capital decreases by the amount of the means received in their payment from investors in the amount of share par value.

At the same time in case of share placing of corporate investment fund:

1) at the price above nominal value gained share premium (the amount of excess of the price of placement over nominal value) is reflected as share premium;

2) at the price below nominal value the difference between nominal value and share placing price of fund belongs on reduction of share premium regarding the available cumulative remaining balance. The difference amount between nominal value and the price of placement of these securities, uncovered remaining balance of share premium, is reflected as uncovered losses.

6. In case of primary placement of investment certificates of mutual investment fund after acquisition of property right to the placed investment certificates the amount of the reflected unpaid capital decreases by the amount of the means received in their payment from investors in the amount of nominal value of investment certificates.

At the same time in case of placement of investment certificates of mutual investment fund:

1) at the price above nominal value gained share premium (the amount of excess of the price of placement over nominal value) is reflected as share premium;

2) at the price below nominal value the difference between nominal value and the price of placement of investment certificates of fund belongs on reduction of share premium regarding the available cumulative remaining balance. The difference amount between nominal value and the price of placement of these securities, uncovered remaining balance of share premium, is reflected as uncovered losses.

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