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RESOLUTION OF THE MINISTRY OF FINANCE OF THE REPUBLIC OF BELARUS

of June 6, 2017 No. 16

About approval of the Instruction about procedure for making of marginal transactions with issued securities

(In edition of the Resolution of the Ministry of Finance of the Republic of Belarus of 28.04.2018 No. 26)

Based on part nine of article 31 of the Law of the Republic of Belarus of January 5, 2015 "About 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 some questions of issue (issue), the address and the securities redemption", 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 "Questions of the Ministry of Finance of the Republic of Belarus", the Ministry of Finance of the Republic of Belarus DECIDES:

1. Approve the enclosed Instruction about procedure for making of marginal transactions with issued securities.

2. This resolution becomes effective in six months after its official publication.

Minister

V. V. Amarin

Approved by the Resolution of the Ministry of Finance of the Republic of Belarus of June 6, 2017 No. 16

The instruction about procedure for making of marginal transactions with issued securities

1. This Instruction establishes procedure for making of marginal transactions of purchase and sale of issued securities in the course of their address, including procedure for provision by the broker to the client as a loan of money and (or) issued securities for making of marginal transactions (further - loan).

2. Making of marginal transactions is performed in trade system of stock exchange within previously reserved money and (or) issued securities. The money provided by the broker to the client as a loan is reserved for the biddings from the current (settlement) or other bank account of the broker. The issued securities provided by the broker to the client as a loan are blocked for the biddings on the account of "depot" of the broker.

3. According to the procedure established by stock exchange when making the marginal transaction in the protocol on results of the biddings on this marginal transaction data that the transaction is marginal are specified.

4. The loan according to the marginal transaction is considered provided at the time of making of this marginal transaction in trade system of stock exchange.

By provision by the broker to the client as a loan of money the loan amount is equal to cash amount, the issued securities belonging to the broker and directed to them to purchase in interests and at the request of the client (further - loan money). By provision by the broker to the client as a loan of issued securities (further - loan issued securities) the loan amount is equal to cash amount, obtained by the broker from sale in interests and at the request of the client of loan issued securities.

The loan can be granted both on all amount of the marginal transaction, and in the amount lacking the client for transaction with issued securities.

5. The issued securities acquired by the broker in interests and at the request of the client on loan money are transferred by results of the biddings to the account of "depot" of the client, except for the case provided in part two of this Item.

If the issued securities acquired by the broker in interests and at the request of the client according to the marginal transaction are pledged to the broker as ensuring obligation fulfillment of the client on loan, and the commission agreement, on the basis and according to which the broker makes marginal transactions with issued securities on the order and for the benefit of the client (further - the commission agreement), transfer of pledged property to the pawnbroker (broker) is provided, these issued securities are transferred by results of the biddings to the account of "depot" of the broker and fixing of encumbrance (restriction) of the rights to the issued securities acquired according to this marginal transaction with bail bonds in depositary system is performed on the account of "depot" of the broker. At the same time, submitting the application for making of this marginal transaction to trade system, the broker specifies data that issued securities according to this marginal transaction are pledged to the broker as ensuring obligation fulfillment of the client on loan.

6. The money received by the broker from sale of loan issued securities in accordance with the terms of the commission agreement can be listed on the current (settlement) or other bank account of the client or be enlisted into the separate sub-account of the broker.

7. Obligation fulfillment of the client on loan is provided with pledge of the issued securities belonging to the client and (or) acquired by the broker for the client according to marginal transactions.

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