RESOLUTION OF THE MINISTRY OF FINANCE OF THE REPUBLIC OF BELARUS

of April 5, 2016 No. 20

About establishment of requirements of financial sufficiency and qualification requirements

Based on paragraphs of the tenth, eleventh, twenty fourth of part one of Article 8 and the paragraph of the fourteenth of part one of article 53-1 of the Law of the Republic of Belarus of January 5, 2015 No. 231-Z "About the security market", paragraphs of third and eighth Item 1 of article 5 of the Law of the Republic of Belarus of July 17, 2017 No. 52-Z "About investment funds", Item 5 of the Regulations on financing of the commercial organizations under concession of the rights (requirements) at the expense of the funds raised by bond emission or with the subsequent bond emission, No. approved by the Presidential decree of the Republic of Belarus of May 11, 2017 154, of Item 10 of the Regulations on the Ministry of Finance of the Republic of Belarus approved by the resolution of Council of Ministers of the Republic of Belarus of October 31, 2001 No. 1585, the Ministry of Finance of the Republic of Belarus DECIDES:

1. Establish the following requirements of financial sufficiency to professional participants of the security market (except for professional participants of the security market, being banks, the non-bank credit and financial organizations, and "Development Bank of the Republic of Belarus" open joint stock company):

1.1. the minimum size of equity (net assets) of the professional participant of the security market shall correspond to the amount equivalent:

3 thousand basic sizes, – for the professional participants of the security market performing dealer activities;

3 thousand basic sizes, – for the professional participants of the security market performing broker activities;

10 thousand basic sizes, – for the professional participants of the security market performing activities for trust management of securities;

25 thousand basic sizes, – for specialized depositaries of the allocated assets;

200 thousand basic sizes, – for the professional participants of the security market performing clearing activities;

10 thousand basic sizes, – for the professional participants of the security market performing depository activity;

300 thousand basic sizes, – for the organizer of the securities trading, being stock exchange;

200 thousand basic sizes, – for other organizers of the securities trading.

The minimum sizes of equity (net assets) of professional participants of the security market specified in part one of this subitem are determined monthly proceeding from the size of basic size established according to the legislation.

In case of accomplishment by the professional participant of the security market at the same time of several work types and (or) rendering several types of service making professional and exchange activity on securities, the minimum size of equity (net assets) of the professional participant of the security market shall correspond to the greatest sum determined in part one of this subitem for one of the work types and (or) services specified in the license for implementation of professional and exchange activity on securities;

1.2. lack of overdue obligations (obligations which completion date came);

1.3. borrowed funds * shall not exceed the size of equity (net assets) of the professional participant of the security market;

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* For the purposes of this subitem borrowed funds are understood as the amount of the long-term and short-term obligations reflected respectively under the articles "TOTAL according to the Section IV" (line 590) and "ITOGO according to the Section V" (line 690) the balance sheet established by appendix 1 to the National accounting standard and the reporting "Individual accounting records" approved by the resolution of the Ministry of Finance of the Republic of Belarus of December 12, 2016 No. 104, reduced by property value, being in trust management at the trustee within implementation by it of activities for trust management of securities.

1.4. availability for the end of every quarter of the low risk degree of approach of bankruptcy determined according to the legislation on insolvency settlement.

Calculation of the coefficients specified in part one of this subitem is perfromed according to the Instruction about procedure of payments of solvency ratios and carrying out financial analysis and the solvency of subjects of managing approved by the resolution of the Ministry of Finance of the Republic of Belarus and the Ministry of Economics of the Republic of Belarus of December 27, 2011 No. 140/206.

2. No. 30 is excluded according to the Resolution of the Ministry of Finance of the Republic of Belarus of 31.05.2023

2-1. Determine that the minimum size of property of mutual investment fund in case of which achievement the mutual investment fund will be considered as created cannot be less amount, equivalent:

15 thousand basic sizes, – for open mutual investment fund;

20 thousand basic sizes, – for open interval mutual investment fund;

35 thousand basic sizes, – for closed-end investment fund.

The minimum size of net assets of joint-stock investment fund, management company of investment fund, specialized depositary of investment fund shall correspond to the amount equivalent:

200 thousand basic sizes, – for joint-stock investment fund;

50 thousand basic sizes, – for management company of joint-stock investment fund (except for banks and the non-bank credit and financial organizations);

100 thousand basic sizes, – for management company of mutual investment fund (except for banks and the non-bank credit and financial organizations);

50 thousand basic sizes, – for specialized depositary of investment fund (except for banks and the non-bank credit and financial organizations).

The minimum sizes of property (net assets) of investment funds, management companies of investment funds and specialized depositaries of investment funds specified in parts one and the second this Item are determined monthly proceeding from the size of basic size established according to the legislation.

3. Establish the following qualification requirements to heads of professional participants of the security market (except for heads of banks, the non-bank credit and financial organizations, "Development Bank of the Republic of Belarus" open joint stock company) and to their workers making actions within performance of works and (or) rendering the services constituting professional and exchange activity on securities:

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