The Committee on Finance and Banking recommends that the Parliament adopt the Bill "On Amendments to Certain Laws of Ukraine regarding the Increase of Demands to the Statute Capital of the Professional Participants of Stock Exchange" in the Second Reading and in its Entirety

11 March 2009, 14:27

The Bill (Reg.№2540) envisages the increase of the statute capital of the professional participants of the stock exchange.

In particular, the Bill envisages that the rate of the statute capital of depositary should be not less than 15 mln. grn, ad the rate of the self capital of clearing depositary 25 mln. Grn.

The Members of the Committee upheld the motion according to which the rate of the statute capital of registrar should be not less than 300 thousand grn.

According to the Bill, "person that supply documents for the license for the execution on the administration of the pension funds should correspond to the certain demands:

The rate of the statute capital of registrar is not les than 2,5 mln. grn.;

should possess the personnel of the suitable qualification level, suitable technical provision and informational systems.

The Bill also envisages that "that the license for the activity management is allotted to the person if the person has the statute capital paid by funds for the day of the documents supplement to the state Commission on Securities".