RESOLUTION OF THE MINISTRY OF FINANCE OF THE REPUBLIC OF BELARUS

of August 31, 2016 No. 76

On regulation of the security market

Based on paragraphs of the fifth, the sixth, the twelfth, twenty fourth and twenty fifth Article part one 8, parts seven of Article 23-2, of part four of Article 24, parts four of Article 25-1, of paragraph two of article 53-2 of the Law of the Republic of Belarus of January 5, 2015 No. 231-Z "About the security market", subitem 1 parts seven. 2, parts one of subitem 1.16 of Item 1 of the Presidential decree of the Republic of Belarus of April 28, 2006 No. 277 "About some questions of regulation of the security market", paragraph two of Item 1 of the resolution of Council of Ministers of the Republic of Belarus of September 10, 2009 No. 1163 "About authority delegation to the Ministry of Finance", 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. Approve: 

The instruction about procedure for security circulation in the territory of the Republic of Belarus (is attached);

The instruction about requirements to conditions and procedure of professional activity on securities (is attached).

2. Ceased to be valid according to the Resolution of the Ministry of Finance of the Republic of Belarus of 31.08.2016 No. 78

3. This resolution becomes effective after its official publication.

Approved the Resolution of the Ministry of Finance of the Republic of Belarus of August 31, 2016 No. 76

The instruction about procedure for security circulation in the territory of the Republic of Belarus

Chapter 1. General provisions

1. This Instruction determines procedure for security circulation, including government securities and securities of local executive and administrative organs (further - securities) if other is not established by Regulations on procedure for issue, the address and repayment of the government bonds of the Republic of Belarus placed in the domestic financial market, the approved resolution of Council of Ministers of the Republic of Belarus of September 28, 2017 No. 722, the Instruction about procedure for issue, the address and repayment of government bonds of the Republic of Belarus approved by the resolution of the Ministry of Finance of the Republic of Belarus of July 11, 2018 No. 51.

Action of this Instruction does not extend to the relations connected with security circulation of National Bank, checks, deposit and savings certificates.

For the purposes of this Instruction the following terms and their determinations are used:

skilled investors in the security market – persons specified in paragraphs the second or thirteenth to part one of article 53-1 of the Law of the Republic of Belarus "About the security market" and also physical persons, including the nonresidents having the existing competence certificate of the specialist of the security market of the first category;

the repo transaction – the transaction on sale (purchase) of securities (the first part of repo) with obligatory subsequent repurchasing (sale) of securities of the same release (investment shares of the same mutual investment fund) through the term determined by the agreement (further – repo term) in the same quantity or in the quantity (but at least one security) reduced by the quantity of the repo of the government bonds or bonds which underwent listing on the stock exchange in which trade system the repo transaction (the second part of repo) is made extinguished within term approved in case of the conclusion of the first part of repo at the price established by this agreement in case of the conclusion of the first part of such transaction;

system of remote servicing – set of technologies for the purposes of transactions which subject are securities (except for documentary securities), and also transactions and other transactions between physical and (or) legal entities, including with nonresidents, within activities of professional participants of the security market (further – professional participants), management companies of investment funds, the special financial organizations, the other persons having the right to carry out identification and performing financial transactions with securities, rendering services in connection with implementation of such activities, and also implementation of other activities connected with making of these transactions and (or) rendering such services with use of the software and hardware and technologies providing interaction of specified persons and clients, including transfer of electronic documents and documents in electronic form.

For the purposes of this Instruction:

the term "documents in electronic form" matters, determined by the paragraph the seventh parts one of Item 19 of the resolution of Council of Ministers of the Republic of Belarus of December 30, 2020 No. 773 "About implementation of the Presidential decree of the Republic of Belarus of April 18, 2019 No. 148";

the terms "investment share", "investment fund", "specialized depositary of investment fund" and "management company" have the values determined respectively by paragraphs the sixth, the seventh, fourteenth and sixteenth Item 1 of article 1 of the Law of the Republic of Belarus of July 17, 2017 No. 52-Z "About investment funds";

the term "information" matters, determined by the paragraph the twelfth parts one of article 1 of the Law of the Republic of Belarus of November 10, 2008 No. 455-Z "About information, informatization and information security";

the terms "nonresident" and "resident" have the values determined respectively by subitems 1.10 and 1.11 of Item 1 of article 1 of the Law of the Republic of Belarus of July 22, 2003 No. 226-Z "About currency control and currency exchange control";

the term "personal data" matters, determined by the paragraph the ninth article 1 of the Law of the Republic of Belarus of May 7, 2021 No. 99-Z "About personal data protection";

the term "worker" matters, determined by the paragraph the thirteenth parts one of Article 1 of the Labor code of the Republic of Belarus;

the term "specialized depositary of the allocated assets" matters, determined by the paragraph the eleventh Item 2 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. 154 approved by the Presidential decree of the Republic of Belarus of May 11, 2017;

the terms "digital signature" and "electronic document" have the values determined respectively by paragraphs the fifteenth and sixteenth article 1 of the Law of the Republic of Belarus of December 28, 2009 No. 113-Z "About the electronic document and the digital signature".

2. In the organized market in the course of security circulation transactions are made:

purchase and sale of shares of open joint stock companies, except for the transactions specified in paragraphs the second or seventh to part one of article 25 of the Law of the Republic of Belarus "About the security market";

purchase and sale of issued securities between professional participants, except as specified, the established legal acts for securities;

purchase and sale of structural bonds, depositary bonds;

purchase and sale of the bonds provided with right to claim on the credits issued by banks on construction, reconstruction or acquisition of housing on the security of the real estate;

purchase and sale of issued securities of the nonresident issuers registered in the territory of foreign state, allowed to the address in the territory of the Republic of Belarus;

purchase and sale of exchange bonds in trade system of the stock exchange which registered release of exchange bonds;

Repo which conditions of the second part provide transfer of securities in the quantity reduced in comparison with the first part repo (but at least one security);

other transactions of purchase and sale of issued securities and investment shares which conditions of issue (issue) or the legislation on securities provide possibility of the address only in the organized market.

On condition of ensuring confidentiality, integrity and authenticity of information according to the legislation on information, informatization and information security of the transaction in the organized market can be made with use integrated with trade system of the organizer of the securities trading (further – the organizer of trade) the systems of remote servicing taking into account requirements installed by the resolution of Council of Ministers of the Republic of Belarus of December 30, 2020 No. 773 (further – use of system of remote servicing), on the conditions determined in the agreements signed between the organizer of trade and professional participants and taking into account local legal acts of the organizer of trade.

The transactions of purchase and sale which are not specified in part one of this Item are made both on organized, and in the unorganized market if other is not provided by conditions of issue (issue) of securities or the legislation on securities. At the same time transactions of repo with shares and bills of exchange, transactions of repo by person emitting (issued) securities, and also for the account (in interests) of such person, with these securities are not allowed.

2-1. To securities, transactions with which only skilled investors in the security market have the right to make, structural bonds belong.

In case of loss by person of the status of the skilled investor in the security market such person has no right to acquire the securities specified in part one of this Item, except for the case established by the paragraph the second article 53-2 of the Law of the Republic of Belarus "About the security market" and also cases:

obligation fulfillments according to the bargains concluded in trade system of the organizer of the securities trading before receipt by this organizer of the securities trading of information on loss by person of the status of the skilled investor in the security market;

acquisitions of securities within repo transactions (repurchasing in case of execution of the second part of such transaction);

transfers of securities to their issuer in case of repayment (early repayment), the early redemption;

acquisitions of depositary bonds in case of distribution of property of the liquidated legal entity between creditors of the corresponding queue;

acquisitions of depositary bonds as property of the liquidated legal entity who remained after satisfaction of requirements of creditors, the owner of property (founders, participants) of this legal entity.

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