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On Approving the License Conditions of Conducting Activity related to Granting of Financial Loans at the Expense of Funds Borrowed by Credit Institutions

 

Order of the State Commission for Regulation of Financial Services Markets of Ukraine

dated October 18, 2005 No 4802

 

Registered at the Ministry of Justice of Ukraine

on December 6, 2005 under No 1459/11739

 

As amended and supplemented by orders

of the State Commission for Regulation of Financial Services Markets of Ukraine

dated November 30, 2006 No 6472,

 dated March 27, 2008 No 417

 

According to paragraph 3 of part one of Article 28 and paragraph 1 of part one of Article 34 of the Law of Ukraine On Financial Services and State Regulation of Financial Services Markets, the State Commission for Regulation of Financial Services Markets of Ukraine HAS ENACTED:

 

1. To approve the License Conditions of Conducting Activity related to Granting of Fiancial Loans at the Expense of Funds Borrowed by Credit Institutions (attached thereto).

 

2. To the Department of State Regulation and Development of Financial Services Markets (T. K. Mosiichuk) and Legal Department (O. V. Chursin), to ensure submission of this order to the Ministry of Justice of Ukraine for the state registration.

 

3. To entrust control over implementation of this order to a Commission member, the Director of the Department of Supervision over Credit Institutions.

 

 

 

Head  

 

V. Suslov 

 

AGREED: 

 

  

 

Head of the State Committee

of Ukraine for Regulatory

Policy and Enterpreneurship 

 

 

 

A. Dashkevich 

 

Head

of Antimonopoly Committee

of Ukraine

 

 

 

O. O. Kostusev 

 

 

 

 

Minutes of the Commissions meeting

dated October 18, 2005 No 174 

 

 

 

 

APPROVED

by order of the State Commission for Regulation of Financial Services Markets of Ukraine

dated October 18, 2005 No 4802

 

Registered

at the Ministry of Justice of Ukraine

on December 6, 2005 under No 1459/11739 

 

 

 

License Conditions of Conducting Activity related to Granting of Financial Loans at the Expense of Funds Borrowed by Credit Institutions

 

These License Conditions were drafted in compliance with the Law of Ukraine On Financial Services and State Regulation of Financial Services Markets, Regulation on the State Commission for Regulation of Financial Services Markets of Ukraine, which was approved by Decree of the President of Ukraine dated April 4, 2003 No 292.

 

1. General provisions

 

1.1. Below given notions shall be used in these License Conditions in the following meanings:

 

separate unit of credit institution (hereinafter separate unit) department or branch of credit institution, which is beyond its location and which conducts activity related to granting of financial loans at the expense of borrowed funds in the single closed technological process with credit institution;

 

(notion of paragraph 1.1 of Chapter 1 is given in the wording of order of State Commission for Regulation of Financial Services Markets of Ukraine dated 27.03.2008 No 417)

 

borrowed funds - funds, which directly or indirectly were received on return basis from natural persons and/or legal persons, received remainder of financial assets, which arose as a result of ordinary economic activity in interests of these persons.

 

Borrowed funds shall not include funds, which were received in the form of contributions to the capital of credit institution, including subordinated capital, funds, which were received from credit institutions under loan contracts, as well as funds, which were received from local and state budgets by financial institutions-legal persons of public law;

 

(notion of paragraph 1.1 of Chapter 1 is given in the wording of orders of State Commission for Regulation of Financial Services Markets of Ukraine dated 30.11.2006 No 6472,

 dated 27.03.2008 No 417)

 

applicant financial institution, which is included into the State Register of Financial Institutions (hereinafter Register), which submits an application for obtaining of a license for coinducting of activity related to granting of financial loans at the expense of borrowed funds and which has an intention to grant financial loans at the expense of borrowed funds, to own risk (including mortgage loans) and according to law;

 

(notion of paragraph 1.1 of Chapter 1 is given in the wording of order of State Commission for Regulation of Financial Services Markets of Ukraine dated 30.11.2006 No 6472)

 

licensee credit institution, which obtaines a license for conducting of activity related to granting of financial loans at the expense of borrowed funds;

 

licensing - issuing, reissuing, temporary suspending and revoking of licenses, issuing of dublicates and copies of licenses, keeping of license records, control over observation of license conditions by licensees, issuing of orders on eliminating breaches of the license conditions;

 

license document of established sample, which certifies the licensees right to conduct activity related to granting of financial loans at the expense of borrowed funds, during the established term and on condition of his observation of these License Conditions.

 

Other notions shall be used in these License Conditions according to legislation of Ukraine.

 

1.2. These License Conditions shall establish requirements, which must be observed by credit institutions at the moment of obtaining of a license, as well as during the whole term of its duration.

 

These License Conditions shall not extend to credit unions and united credit unions.

 

1.3. Credit institution can conduct activity related to granting of financial loans at the expense of borrowed funds (including mortgage crediting) only after receiving of a license of the State Commission for Regulation of Financial Services Markets of Ukraine (hereinafter - Derzhfinposlug) according to these License Conditions. On the ground of a license received according to these License Conditions, credit institution shall have a right to grant financial loans at the expense of borrowed funds (including mortgage credits), to service loans and refinance mortgage creditors according to legislation of Ukraine.

 

(paragraph 1.3 of Chapter 1 is given in the wording of order of State Commission for Regulation of Financial Services Markets of Ukraine dated 30.11.2006 No 6472)

 

Activity of a credit institution related to granting of financial loans at the expense of capital of the credit institution, including subordinated capital, under credit contracts with credit institutions, as well at the expense of as funds from the state and local budgets, which were received by financial institutions legal persons of public law, shall not require receiving of a license.

 

(paragraph 1.3 of Chapter 1 was supplemented by part two in pursuance of order of

 State Commission for Regulation of Financial Services Markets of Ukraine

 dated 27.03.2008 No 417)

 

1.4. At the moment of submitting an aplication for receiving of a license, an applicant must be formed and registered according to the order established by legislation, as well as included to the Register as a financial institution and receive a certificate on registration of financial institution.

 

1.5. An applicant can receive a license for conducting of activity related to granting of financial loans at the expense of borrowed funds, if there were no decisions of Derzhfinposlug on application of measures of influence, which were not executed by him.

 

1.6. Own capital of an applicant must not be less than required at the moment of submitting of application for including information on the applicant to the Register.

 

(Chapter 1 was supplemented by new paragraph 1.6 in pursuance of order of the State Commission for Regulation of Financial Services Markets of Ukraine

 dated 30.11.2006 No 6472,

 in connection therewith paragraphs 1.6 - 1.13 should be regarded

as paragraphs 1.7 - 1.14, correspondingly)

 

1.7. Issuing, reissuing, issuing of a dublicate of a license for conducting of activity related to granting of financial loans at the expense of borrowed funds shall require payment of a fee, which is established by legislation of Ukraine.

 

1.8. Separate units of credit institution shall have a right to conduct activity related to granting of financial loans at the expense of borrowed funds on the ground of a copy of the license of credit institution for conducting of activity related to granting of financial loans at the expense of borrowed funds and on condition of observing these License Conditions.

 

1.9. The license shall be valid for three years. It shall be valid until: its expiration, temporary suspension, invalidation or revocation. The license can be issued for a period of five years in case of repeated issuance, unless measures of influence were applied to licensee or his separate unit within the duration of the previous license.

 

1.10. Having received a license according to these License Conditions, a licensee shall have a right to conduct activity related to granting of financial loans at the expense of borrowed funds in the whole territory of Ukraine. A licensee must put the received license in observable place at his location.

 

1.11. Activity related to granting of financial loans at the expense of borrowed funds cannot be conducted without a license, after expiration, invalidation, temporary suspension or revocation of a license.

 

1.12. If a licensee has an interntion to conduct activity related to granting of financial loans at the expense of borrowed funds after expiration of a license, he shall be obliged to submit an application to Derzhfinposlug for issuing of a new license and documents, which are attached thereto according to these License Conditions, not later than thirty calendar days before expiration of the previously issued license. The new license shall enter into force not earlier than the day following calendar date of expiration of the previously issued license.

 

1.13. In case of any grounds for reissuance of the license or issuance of a duplicate of the license, a licensee shall be obliged to perform actions according to these License Conditions.

 

1.14. License (copy of license), which is issued to licensee by Derzhfinposlug, shall not be subject to handing over to third persons.

 

2. Documents, which are submitted for receiving of a license, the procedure of their submission and consideration

 

2.1. In order to receive a license, an applicant personally or through a person authorized by him shall address Derzhfinposlug with an application for issuing of a license according to annex 1.

 

The following documents must be attached to application for issuing of a license:

 

1) a copy of certificate on state registration of legal person or a copy of certificate on inclusion to the United State Register of Enterprises of Ukraine, which must be notarized or certified by the body, which issued original of the document;

 

2) copies of constituent documents with all amendments, which regulate formation and activity of the credit institution, or a copy of the last decision on formation (constituent agreement, statute, regulation) of financial institution legal person of public law, which must be certified according to the established order;

 

(subparagraph 2 of paragraph 2.1 of Chapter 2 is given in the wording of order of the State Commission for Regulation of Financial Services Markets of Ukraine dated 27.03.2008 No 417)

 

3) internal regulations on granting of financial loans (hereinafter Internal Regulations), which must be certified by stamp and signature of the applicants head and which must comply with requirements of Ukrainian legislation;

 

4) financial reports, which must be drawn up in compliance with Accounting Regulation (Standard) 2 Ballance, which was approved by order of the Ministry of Finances of Ukraine dated 31.03.99 No 87 and registered at the Ministry of Justice of Ukraine on 21.06.99 under No 396/3689, and Accounting Regulation (Standard) 3 Report on fiancial results, which was approved by order of the Ministry of Finances of Ukraine dated 31.03.99 No 87 and registered at the Ministry of Justice of Ukraine on 21.06.99 under No 397/3690, for the previous calendar year, adequacy and fullnes of which must be confirmed by an auditor included to the register of auditors, who can conduct auditing inspections of financial institutions (except for newly formed applicants and financial institutions legal persons of public law), reporting data in paper and electronic form, which must be drawn up according to the Order of Drawing up and Submitting of Reports by Credit Institutions to the State Commission for Regulation of Financial Services Markets of Ukraine, which was approved by order of Derzhfinposlug dated 19.02.2007 No 6832 and registered at the Ministry of Justice of Ukraine on 16.03.2007 under No 234/13501, as of the last day of month preceeding the date of submitting application for receiving of a license, as well as certificate on confirming availability of own capital, except for subordinated debt, in the amount of UAH 1 million, which must be certified according to the established order;

 

(subparagraph 4 of paragraph 2.1 of Chapter 2 is given in the wording of order of the State Commission for Regulation of Financial Services Markets of Ukraine dated 27.03.2008 No 417)

 

5) copies of documents on full higher education of the applicants head and chief accountant, as well as copies of documents, which certify attending by the applicants head and chief accountant of professional development courses according to Professional Requirements to the Heads and Chief Accountants of Financial Institutions, which were approved by order of Derzhfinposlug dated 13.07.2004 No 1590 and registered at the Ministry of Justice of Ukraine on 02.08.2004 under No N 955/9554; extracts from work-record books of the applicants head and chief accountant, which must be certified by stamp and signature of the applicants head
( for financial institutions legal persons of public law, which are subject to the Regulation on the Order of Entering Information on Financial Institutions Legal Persons of Public Law to the State Register of Financial Institutions, which was approved by order of Derzhfinposlug dated 07.07.2005 No 4300 and registered at the Ministry of Justice of Ukraine on 26.07.2005 under No 796/11076, - copies of diplomas on education and extracts from work-record books of the head and chief accountant, which must be certified by signature of the head and stamp of the financial institution legal person of public law);

 

6) data, cetified by stamp and signature of the applicants head, concerning availability of premises, safety facilities, special hardware, software, which comply with requirements of Chapter 3 of these License Conditions;

 

7) copies of documents confirming ownership in or the right of lease of non-residential premises at the applicants location, which must be cirtified according to the established order.

 

(subparagraph 7 of paragraph 2.1 of Chapter 2 was amended in pursuance of order of the State Commission for Regulation of Financial Services Markets of Ukraine dated 27.03.2008 No 417)

 

(paragraph 2.1 of Chapter 2 is given in the wording of order of the State Commission for Regulation of Financial Services Markets of Ukraine dated 30.11.2006 No 6472)

 

2.2. Paragraph 2.2 of Chapter 2 was excluded.

 

(Chapter 2 was supplemented by new paragraph 2.2 in pursuance of order

 of the State Commission for Regulation of Financial Services Markets of Ukraine

 dated 30.11.2006 No 6472,

 in connection therewith paragraphs 2.2 - 2.20 should be considered as paragraphs 2.3 - 2.21, correspondingly,

 paragraph 2.2 of Chapter 2 was excluded in pursuance of order of the State Commission for Regulation of Financial Services Markets of Ukraine dated 27.03.2008 No 417,

in connection therewith paragraphs 2.3 - 2.21 should be considered as paragraphs 2.2 - 2.20, correspondingly)

 

2.2. If an applicant has separate units, which are included to the Register and which have an intention to conduct activity related to granting of financial loans at the expense of borrowed funds on the ground of the received license, the application must contain a list and location thereof.

 

2.3. Documents, which are drawn up by applicant and submitted to Derzhfinposlug according to these License Conditions, must comly with the following requirements:

 

be in the state language;

 

contain adequate information as of the date of submitting of application;

 

documents on two and more pages must be numbered, laced and certified by stamp and signature of the applicants head;

 

references, which are submitted by applicant, must contain the date of their drawing up;

 

electronic form of data must correspond to paper one, which is printed according to format established by Derzhfinposlug.

 

Date of registering application for receiving of a license at Derzhfinposlug shall be regarded as the date of its submitting.

 

(paragraph 2.3 of Chapter 2 is given in wording of order of the State Commission for Regulation of Financial Services Markets of Ukraine dated 27.03.2008 No 417)

 

2.4. All documents, which are submitted for receiving of a license, shall belong to the category of documents of long-term keeping. The documents must be submitted in a paper form in a binder, according to the internal description and with numbered pages.

 

2.5. Application for issuing of a license and documents, which are attached thereto according to these License Conditions, shall be received according to description, a copy of which is issued to applicant with indication of the date of receiving of the documents by Derzhfinposlug and signature of the responsible person of Derzhfinposlug.

 

2.6. Paragraph 2.6 of Chapter 2 was excluded

 

(in pursuance of order of the State Commission for Regulation

of Financial Services Markets of Ukraine dated 27.03.2008 No 417,

in connection therewith paragraphs 2.7 - 2.20 should be regraded as paragraphs 2.6 - 2.19, correspondingly)

 

2.6. Applicant shall be responsible for fullness and adequacy of information given in the application and documents, which are submitted for receiving of a license, according to legislation of Ukraine.

 

2.7. Application for receiving of a license shall not be considered, if:

 

1) the application is signed by a person, who has no powers, or by person, position of which is not indicated;

 

2) at least one of the documents, which are attached to the application for issuance of license, is missing;

 

3) the documents are drawn up with breach of these License Conditions.

 

2.8. An applicant shall be informed on shelving of the application for issuance of license in writing and with indication of the causes of shelving within the period envisaged for issuance of a license. After elimination of causes, which served as a ground for shelving of the application for issuance of a license, an applicant can repeatedly submit an application for issuance of a license, which shall be considered according to the order established for issuance of a license.

 

2.9. The following can be a ground for taking of decision on refusal to issue a license:

 

1) inadequacy of data in documents submitted by applicant for receiving of a license;

 

2) non-compliance of applicant, according to the submitted documents, with these License Conditions.

 

2.10. In case of refusal to issue a license on the ground of discovering inadequte data in the documents submitted by an applicant, he can submit to Derzhfinposlug a new application for issuance of the license not earlier than in three months after the date of taking decision on refusal to issue a license.

 

2.11. In case of refusal to issue a license on the ground of non-conformity of applicant to these License Conditions, the applicant can submit a new application to Derzhfinposlug for issuance of the license after elimination of the causes, which served as a ground for refusal to issue a license.

 

2.12. Decision on refusal to issue a license can be appealed at court.

 

2.13. Derzhfinposlug shall take decision on issuance of a license or refusal to issue a license within the term, which must not exceed thirty calendar days after the date of receiving the application for issuance of a license and documents attached thereto.

 

2.14. Notification on taking of decision on issuance of a license or refusal to issue a license shall be send (given out) to an applicant in writing within three working days after the date of taking corresponding decision. Decision on refusal to issue a license must contain the grounds of such refusal.

 

2.15. In case of taking decision on issuance of a license, Derzhfinposlug shall issue the license and copies thereof within five working days after the date of receiving document certifying payment of a fee for issuance of the license.

 

2.16. Responsible person of Derzhfinposlug shall make a record concerning the date of receiving of the documents, which certify payment by the applicant of a fee for issuance of the license, on the copy of description, which was given out to applicant at the moment of receiving of the application for issuance of a license.

 

2.17. If an applicant does not submit a document certifying payment of the fee for issuance of license or does not addrees Derzhfinposlug for receiving of the issued license within thirty calendar days after the day of forwarding to him of a notification on taking of decision on issuance of a license, Derzhfinposlug shall have the right to annull decision on issuance of the license or invalidate such license.

 

2.18. In case of any separate units, Derzhfinposlug shall issue copies of the license certified by stamp of Dezhfinposlug and containing indication of the name of separate unit, for which it is issued.

 

2.19. Having issued a license to an applicant, Derzhfinposlug shall enter corresponding information to the Register within three working days after the date of issuing of the license.

 

3. Requirements, which a licensee must meet in conducting activity

related to granting of financial loans at the expense of borrowed funds

 

3.1. In conducting activity indicated in the license, a licensee must comply with the Law of Ukraine On Financial Services and State Regulation of Financial Services Markets, regulations of Derzhfinposlug, constituent documents (decision on foundation, constituent agreement, statute, regulation), according to which a credit institution was founded, be guided by internal regulations and rules, as well as other documents regulating his activity.

 

3.2. In conducting activity related to granting of financial loans at the expense of borrowed funds, a licensee must form capital, reserves, funds and determine the order of covering losses according to requirements, which are established by legislation of Ukraine.

 

(paragraph 3.2 of Chapter 3 is given in the wording of order of the State Commission for Regulation of Financial Services Markets of Ukraine dated 30.11.2006 No 6472)

 

3.3. A licensee must observe criteria on liquidity, capital, solvency, quality of assets and riskiness of transactions according to legislation of Ukraine.

 

3.4. A licensee must be provided with computer equipment for record keeping and communicational facilities (telephone, fax), as well as use software according to legislation of Ukraine.

 

3.5. In conducting activity related to granting of financial loans at the expense of borrowed funds, a licensee must observe requirements of legislation of Ukraine in part of accounting and reporting. Accounting and registering system of a licensee must comply with requirements, which are established by legislation of Ukraine.

 

3.6. Financial loans must be granted to the customers at the location of a licensee or his separate unit on the ground of a contract, which must comply with requirements of legislation of Ukraine and sample of contract approved by the licensee.

 

(paragraph 3.6 of Chapter 3 is given in the wording of order of the State Commission for Regulation of Financial Services Markets of Ukraine dated 30.11.2006 No 6472,

 as amended in pursuance of order of the State Commission for Regulation of Financial Services Markets of Ukraine dated 27.03.2008 No 417)

 

3.7. A licensee must ensure disclosure of information, formation and submission of reports on conducting of activity related to granting of financial loans at the expense of borrowed funds according to legislation of Ukraine.

 

3.8. Own capital of a licensee must be kept at the level not less than required at the moment of submitting application for including information on the licensee to the Register, which is confirmed by opinion of an auditor, who is included to the register of auditors having the powers to conduct auditing inspections of financial institutions.

 

(paragraph 3.8 of Chapter 3 is given in the wording of order of the State Commission for Regulation of Financial Services Markets of Ukraine dated 30.11.2006 No 6472)

 

3.9. A licensee must keep record of all concluded contracts according to the Internal Regulations and have custody of these contracts for five years after fulfillment of mutual obligations.

 

(paragraph 3.9 of Chapter 3 is given in wording of order of the State Commission for Regulation of Financial Services Markets of Ukraine dated 30.11.2006 No 6472)

 

3.10. A licensee must have own or leased non-residential premises with restricted access, necessary security facilities (intrusion protection and/or corresponding guards, safes for keeping of money and documents, which makes their stealing or damaging impossible), special technical equipment (computer equipment, communication facilities, telephone, fax etc), corresponding software, which are necessary for conducting of activity related to granting of financial loans and ensuring proper and timely registration of financial and economic transactions according to legislation of Ukraine.

 

(paragraph 3.10 of Chapter 3 is given in the wording of order of the State Commission for Regulation of Financial Services Markets of Ukraine dated 30.11.2006 No 6472,

 as amended in pursuance of order of the State Commission for Regulation of Financial Services Markets of Ukraine dated 27.03.2008 No 417)

 

3.11. The head and chief accountant of a licensee must comply with professional requirements, which are established by Derzhfinposlug.

 

Requirements of this subparagraph shall not extend to heads and chief accountants of a licensee, information on which is included to the Register according to the Regulation on the Order of Entering Information on Financial Institutions Legal Persons of Public Law to the State Register of Financial Institutions, which was approved by order of Derzhfinposlug dated July 7, 2005 No 4300 and registered at the Ministry of Justice of Ukraine on July 26, 2005 under No 796/11076.

 

3.12. A licensee must submit information to Derzhfinposlug on amendments and supplements to constituent documents, which are registered according to the established order, within fifteen working days after registration of such amendments.

 

(paragraph 3.12 of Chapter 3 as amended in pursuance of order of the

 State Commission for Regulation of Financial Services Markets of Ukraine

dated 27.03.2008 No 417)

 

3.13. A licensee must inform Derzhfinposlug about all changes in data indicated in documents, which were attached to application for issuance of the license. In case of such changes, a licensee must, within fifteen working days, forward to Derzhfinposlug a corresponding notification in writing together with documents, which certify the said changes, or copies of such documents certified according to the established order.

 

(paragraph 3.13 of Chapter 3 as amended in pursuance of order of the

State Commission for Regulation of Financial Services Markets of Ukraine

dated 27.03.2008 No 417)

 

3.14. Paragraph 3.14 of Chapter 3 was excluded

 

(in pursuance of order of the State Commission of Ukraine on Regulation

of Financial Services Markets dated 30.11.2006 No 6472,

 in connection therewith, paragraph 3.15 should be regarded as paragraph 3.14)

 

3.14. A licensee shall be prohibited from spreading of any advertisments and information, which contain untrue data on his activity.

 

3.15. A licensee must give access to an inspection group for conducting of inspection and provide documents and information for conducting of such inspection within the term established by Derzhfinposlug.

 

(Chapter 3 was supplemented by paragraph 3.15 in pursuance of order of the

 State Commission for Regulation of Financial Services Markets of Ukraine

dated 27.03.2008 No 417)

 

4. Requirements to conducting activity by separate units of a licensee

 

4.1. A licensee shall have the right to conduct activity related to granting of financial loans at the expense of borrowed funds through his separate units on the ground of the license received by him and on condition of observing the following requirements:

 

1) entering of information on such separate units to the Register;

 

2) envisaging powers on conducting activity related to granting of financial loans at the expense of borrowed funds in the internal regulation on corresponding separate unit of the credit institution;

 

3) observation by a separate unit of these License Conditions;

 

4) availability of a copy of the license certified according to the order established by legislation and containing indication of the name of separate unit, for which it is issued.

 

(subparagraph 4 of paragraph 4.1 of Chapter 4 is given in the wording of order of the

 State Commission for Regulation of Financial Services Markets of Ukraine

dated 27.03.2008 No 417)

 

4.2. Paragraph 4.2 of Chapter 4 was excluded

 

(in pursuance of order of the State Commission of Ukraine on Regulation

of Financial Services Markets dated 27.03.2008 No 417)

 

4.3. Paragraph 4.3 of Chapter 4 was excluded

 

(in pursuance of order of the State Commission of Ukraine on Regulation

of Financial Services Markets dated 27.03.2008 No 417,

in connection therewith, paragraph 4.4 should be regarded as paragraph 4.2, correspondingly)

 

4.2. If a separate unit, which conducted activity related to granting of financial loans at the expense of borrowed funds according to the received license, is liquidated or if a separate unit stops conducting of such activity according to the received license, a licensee shall be obliged to submit to Derzhfinposlug a corresponding notification in writing and within the period of seven working days after the date of liquidating of such separate unit or after the date of stopping such activity by such separate unit. Derzhfinposlug shall enter corresponding amendments to the Register not later than the next working day after the date of receiving such notification.

 

5. Temporary suspension of a license

 

5.1. The following can be the grounds for temporary suspension of a license:

 

1) failure of a licensee to observe these License Conditions;

 

2) beginning of the liquidation procedure of a licensee according to legislation;

 

3) repeated breaching by licensee of these License Conditions during a year, for which corresponding measures of influence were taken;

 

4) failure to eliminate breaches, which became the cause for previous application of measures of influence;

 

5) taking of measures of influence in the form of discharging leaders from management of the credit institution, designating of a temporary administration, approving the plan of renewing financial stability of the credit institution;

 

6) establishing the fact of failure to submit, within the established term, of notification on change in data, which were indicated in documents attached to the application for issuance of the license;

 

(paragraph 5.1 of Chapter 5 was supplemented by subparagraph 6 in pursuance of order of the

 State Commission for Regulation of Financial Services Markets of Ukraine

dated 27.03.2008 No 417)

 

7) non-admission of the inspection group to conducting of inspection of a licensee and/or non-provision, within the term etsblished by Derzhfinposlug, of documents and information for conducting of the inspection;

 

(paragraph 5.1 of Chapter 5 was supplemented by subparagraph 7 in pursuance of order of the

 State Commission for Regulation of Financial Services Markets of Ukraine

 dated 27.03.2008 No 417)

 

8) establishing by the inspection of the fact of the licensees absense at the location indicated in the license and non-informing of Derzhfinposlug and state registrator within the term, which is established by legislation, about change of his location.

 

(paragraph 5.1 of Chapter 5 was supplemented by subparagraph 8 in pursuance of order of the

 State Commission for Regulation of Financial Services Markets of Ukraine

dated 27.03.2008 No 417)

 

5.2. Temporary suspended license may be renewed according to decision of Derzhfinposlug in case of eliminating breaches, which were the ground for its temporary suspension.

 

5.3. The term of temporary supension of a license shall be limited by duration of the license.

 

If a license, which was temporary suspended, expires, a new license can be issued not earlier than the date of eliminating of breaches, which became the ground for temporary suspension of the previously issed license.

 

6. Reissuance of a license

 

6.1. A license can be reissued on the following grounds:

 

1) change in the name of a legal person (if change of the name is not related to reorganization of the legal person);

 

2) change in location of the legal person.

 

6.2. If there are grounds for reissuance of a license, a licensee shall be obliged to submit an application to Derzhfinposlug for reissuance of the license according to annex 2 within ten working days after registration of such changes according to the established order.

 

6.3. The following documents must be attached to the application for reissuance of the license:

 

a) a copy of the certificate on state registration of the legal person containing corresponding changes, which must be notarized or certified by the body, which issued such certificate;

 

b) notarized copies of changes to the constituent documents of credit institution or changes to the decision on foundation (constituent agreement, statute, regulation) of financial institution legal person of public law concerning changing of the name and (or) location, which must be registred according to the established order;

 

c) a copy of the payment document on payment of the fee for reissuance of the license;

 

d) original of the license.

 

6.4. Derzhfinposlug shall take decision on reissuance of the license within ten working days after the date of receiving of the application for reissuance of license and all necessary documents, which are attached thereto. A license shall be executed by Derzhfinposlug on a new form not later than five working days after the date of taking decision on reissuance of the license.

 

6.5. In case of reissuing of the license, Derzhfinposlug shall take decision on invalidating the license, which was reissued, with entering of corresponding information to the Register not later than three working days after the date of taking of such decision.

 

6.6. Notification on taking of decision on reissuance of the license shall be sent (handed out) to a licensee within three working days after the date of taking of the corresponding decision.

 

6.7. Duration of the reissued license must correspond to duration indicated in the license, which is reissued.

 

7. Issuance of a duplicate of the license

 

7.1. Dublicate of the license is issued on the following grounds:

 

a) losing of the license;

 

b) damaging of the license.

 

7.2. In case of losing or damaging of the license, a licensee shall submit the following documents to Derzhfinposlug:

 

a) application for issuance of a duplicate of the license according to the established sample (annex 3);

 

b) a copy of announcement in the printed mass media on losing of the license (in case of losing of the license);

 

c) the original of the license (in case of damaging thereof);

 

d) a copy of the payment document on payment of the fee for issuance of duplicate of the license.

 

7.3. Derzhfinposlug shall take decision on issuance of a dublicate of the license within ten working days after the date of receiving of the application for issuance of the duplicate of the license and all necessary documents. Duplicate of the license shall be issued to licensee by Derzhfinposlug not later than five working days after the date of taking decision on issuance of the duplicate.

 

7.4. In case of issuing of a duplicate of the license instead of the lost or damaged one, Derzhfinposlug shall take decision on invalidating of the lost or damaged license, with entering of corresponding information to the Register not later than three working days after the date of taking of corresponding decision.

 

7.5. Duration of the duplicate of license cannot exceed duration of the license, which was lost or damaged.

 

7.6. Notification on taking decision on issuance of a duplicate of the license shall be sent (handed out) to licensee within three working days after the date of taking of the corresponding decision.

 

8. Revocation of license

 

8.1. A license can be revoked on the following grounds:

 

1) addressing of a licensee with application for revocation of the license;

 

2) taking of decision on state registration of the legal persons lequidation;

 

3) discovering of inadequate data in documents, which were submitted by a licensee for receiving of the license;

 

4) breaching of Ukrainian legisaltion in the sphere of providing of financial services, in particular of these License Conditions;

 

5) liquidating or reorganizing of a licensee according to legislation of Ukraine;

 

6) failure to eliminate, within the period established by decision of Derzhfinposlug, of the breaches of the License Conditions, which became the ground for temporary suspension of the license;

 

7) taking by Derzhfinposlug of decision on excluding of information on a licensee from the Register;

 

(paragraph 8.1 of Chapter 8 was supplemented by subparagraph 7 in pursuance of order of the

 State Commission for Regulation of Financial Services Markets of Ukraine

dated 27.03.2008 No 417)

 

8) conducting by licensee of activity, which requires licensing according to the law, in case of temporary suspension of the license.

 

(paragraph 8.1 of Chapter 8 was supplemented by subparagraph 8 in pursuance of order of the

 State Commission for Regulation of Financial Services Markets of Ukraine

dated 27.03.2008 No 417)

 

8.2. If a licensee takes decision on revocation of the license, a corresponding application is submitted to Derzhfinposlug according to annex 4.

 

The following documents must be attached to application for revocation of the license:

 

1) a copy of the licensees decision on adressing Derzhfinposlug with application for revocation of the license according to legislation, which must be notarized by signature of the head and stamp of the licensee;

 

2) reference on fulfilment of all contractual obligations concerning provision of financial services, which must be signed by the head and chief accountant, signatures of whom are certified by the licensees stamp;

 

3) opinion of an auditor, who is included to the register of auditors having the power to conduct inspections of financial institutions, on absence by the liensee of unfulfilled obligations before consumers of financial services;

 

4) the original (dublicate) of the license.

 

8.3. Derzhfinposlug shall have the right to conduct inspection of a licensee in part of his fulfilment of obligations before consumers of financial services under the concluded contracts.

 

8.4. Having received an application for revocation of the license and necessary documents, Derzhfinposlug shall take decision on revocation of the license within thirty days after receiving of the application.

 

8.5. Notification on taking of decision on revocation of the license upon application of the licensee shall be sent to the licensee within three working days after taking of corresponding decision.

 

8.6. Information on revocation of the license upon application of the licensee shall be included to the Register not later than three working days after taking of decision on revocation of the license.

 

8.7. If a license is revoked as a result of a measure of ifluense, a licensee can receive a new license for conducting of activity related to granting of financial loans at the expense of borrowed funds not earlier than in a year after taking by Derzhfinposlug of decision on revocation of the previous license.

 

8.8. Decision on revocation of the license as a measure of influence can be appealed at court.

 

8.9. Decision on revocation of a license shall be promulgated within three working days after taking of such decision on web-site of Derzhfinposlug and within seven working days in printed mass media.

 

9. Control over observation of these License Condition

 

9.1. State control over observation of these License Conditions shall be exercised by Derzhfinposlug according to legislation of Ukraine.

 

9.2. If any breaches are discovered during exercising of control over observation of legislation of Ukraine regulating activity of non-banking financial institutions and these License Conditions, then measures of influence are applied, which are envisaged by legislation of Ukraine.

 

 

 

Deputy Head  

 

T. Mosiichuk 

 

 

 

 

Annex 1

to the License Conditions of Conducting Activity related to Granting of Financial Loans at the Expense of Funds Borrowed by Credit Institutions

 

State Commission for Regulation of Financial Services Markets of Ukraine 

 

 

___ ____________ 200_ No ____

      (date of drawing up of the application) 

 

 

 

Application

for issuance of a license for conducting of activity related to granting of financial loans at the expense of borrowed funds

 

Applicant ________________________________________________________________________,

                                                                           (full name)

location ________________________________________________________________,

telephone _________________, fax ___________,

identification code of legal person,

series and number of certificate on registration of financial institution,

issuing date of the certificate on registration of financial institution

______________________________________________,

banking requisites:

name of the bank _________________________________________________________,

location of the bank ___________________________________________________________,

MFO, current account __________________________________________________________, 

 

 

requests to issue a license for conducting of activity related to granting of financial loans at the expense of borrowed funds.

 

Separate units, which will conduct activity on the ground of the license for conducting of activity related to granting of financial loans at the expense of borrowed funds:

 

 

 

 

 

Names of subsidiaries and other separate units of the applicant 

 

Location, telephone numbers, e-mail 

 

Name, patronimic name, surname of the head of separate unit 

 

Name, patronimic name, surname of the chief accountant of separate unit 

 

 

 

 

 

 

Two copies of the list of documents are attached thereto.

 

Annex on ____ pages.

 

The head of the legal person  

 

___________________________________

(name, patronimic name, surname)  

 

_____________

(signature) 

 

 

 

 

 

stamp  

 

 

(annex 1 was amended in pursuance of order of the State Commission for Regulation of Financial Services Markets of Ukraine dated 30.11.2006 No 6472)

 

 

 

Annex 2

to the License Conditions of Conducting Activity related to Granting of Financial Loans at the Expense of Funds Borrowed by Credit Institutions

 

State Commission for Regulation of Financial Services Markets of Ukraine 

 

 

___ ____________ 200_ No ____

     (date of drawing up of the application) 

 

 

 


Application for issuance of a copy of the license to separate unit of credit institution for the right to conduct activity related to granting of financial loans at the expense of borrowed funds

 

Annex 2 was excluded

 

(annex 2 was amended in pursuance of order of the State Commission for Regulation of Financial Services Markets of Ukraine dated 30.11.2006 No 6472,

 was excluded in pursuance of order of the State Commission for Regulation of Financial Services Markets of Ukraine dated 27.03.2008 No 417,

in connection therewith annexes 3 - 5 should be regarded as annexes 2 4, correspondingly;

 references to annexes 3 - 5 in the text of the License Conditions were changed by references to annexes 2 4, correspondingly)

 

 

 

Annex 2

to the License Conditions of Conducting Activity related to Granting of Financial Loans at the Expense of Funds Borrowed by Credit Institutions

 

State Commission for Regulation of Financial Services Markets of Ukraine 

 

 

___ ____________ 200_ No ____

      (date of drawing up of the application) 

 

 

 

Application

for reissuance of the license for conducting of activity related to granting of financial loans at the expense of borrowed funds

 

Applicant ___________________________________________________________________________,

                                                                                          (full name)

location ________________________________________________________________,

telephone _________________, fax ___________,

identification code of legal person,

series and number of certificate on registration of financial institution,

issuing date of the certificate on registration of financial institution

______________________________________________,

banking requisites:

name of the bank _________________________________________________________,

location of the bank ___________________________________________________________,

MFO, current account

_____________________________________________________________,

date of taking and number of decision on issuance of license _____________________________________,

series and number of license _________________________,

license issuance date ___________________________,

the license is valid from ______________ till ___________,

 

requests to reissue the license for conducting of activity related to granting of financial loans at the expense of borrowed funds in connection with ____________________________________________________________________________________________________________________________________

                                                                                                 (indicate the ground) 

 

 

Two copies of the list of documents are attached thereto.

 

Annex on ____ pages.

 

The head of the legal person  

 

___________________________________

(name, patronimic name, surname)  

 

_____________

(signature) 

 

 

 

 

 

stamp  

 

 

 

 

(annex 2 was amended in pursuance of order of the State Commission for Regulation of Financial Services Markets of Ukraine dated 30.11.2006 No 6472)

 

 

 

Annex 3

to the License Conditions of Conducting Activity related to Granting of Financial Loans at the Expense of Funds Borrowed by Credit Institutions

 

State Commission for Regulation of Financial Services Markets of Ukraine 

 

 

___ ____________ 200_ No ____

      (date of drawing up of the application) 

 

 

 


Application

for issuance of the dublicate of the license for conducting of activity related to granting of financial loans at the expense of borrowed funds

 

Applicant _________________________________________________________________________,

                                                                                        (full name)

location ________________________________________________________________,

telephone _________________, fax ___________,

identification code of legal person,

series and number of certificate on registration of financial institution,

issuing date of the certificate on registration of financial institution

______________________________________________,

banking requisites:

name of the bank _________________________________________________________,

location of the bank ___________________________________________________________,

MFO, current account

___________________________________________________________,

date of taking and number of decision on issuance of license _____________________________________,

series and number of license _________________________,

license issuance date ___________________________,

the license is valid from ______________ till ___________,

 

requests to issue a dublicate of the license for conducting of activity related to granting of financial loans at the expense of borrowed funds in connection with ___________________________________________________________________________________________________________________________________

                                                                                             (indicate the ground) 

 

 

Two copies of the list of documents are attached thereto.

 

Annex on ____ pages.

 

The head of the legal person  

 

___________________________________

(name, patronimic name, surname)  

 

_____________

(signature) 

 

 

 

 

 

stamp  

 

 

(annex 3 was amended in pursuance of order of the State Commission for Regulation of Financial Services Markets of Ukraine dated 30.11.2006 No 6472)

 

 

 

Annex 4

to the License Conditions of Conducting Activity related to Granting of Financial Loans at the Expense of Funds Borrowed by Credit Institutions

 

State Commission for Regulation of Financial Services Markets of Ukraine 

 

 

___ ____________ 200_ No ____

     (date of drawing up of the application) 

 

 

 

 

Application

for revocation of the license for conducting of activity related to granting of financial loans at the expense of borrowed funds

 

Applicant ____________________________________________________________________________,

                                                                                       (full name)

location ________________________________________________________________,

telephone _________________, fax ___________,

identification code of legal person,

series and number of certificate on registration of financial institution,

issuing date of the certificate on registration of financial institution

______________________________________________,

banking requisites:

name of the bank _________________________________________________________,

location of the bank ___________________________________________________________,

MFO, current account

______________________________________________________________,

date of taking and number of decision on issuance of license _____________________________________,

series and number of license _________________________,

license issuance date ___________________________,

the license is valid from ______________ till ___________,

 

requests to revoke the license for conducting of activity related to granting of financial loans at the expense of borrowed funds in connection with

____________________________________________________________________________________________________________________________________

                                                                                                 (indicate the ground) 

 

 

Names of subsidiaries and other separate units of the applicant 

 

Location, telephone numbers, e-mail 

 

Name, patronimic name, surname of the head of separate unit 

 

Name, patronimic name, surname of the chief accountant of separate unit 

 

 

 

 

 

 

 

 

 

 

Two copies of the list of documents are attached thereto.

 

Annex on ____ pages.

 

The head of the legal person  

 

___________________________________

(name, patronimic name, surname)  

 

_____________

(signature) 

 

 

 

 

 

stamp  

 

 

(annex 4 was amended in pursuance of order of the State Commission for Regulation of Financial Services Markets of Ukraine dated 30.11.2006 No 6472)

 

____________

 

 



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