The Verkhovna Rada of Ukraine adopted the Bill on Amendments to the Law "On the National Bank of Ukraine" (re Cash Turnover)

01 March 2011, 14:46

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The bill (Reg. No.7127) amends the applicable law in part of the supervision of the National Bank of Ukraine over the card schemes in compliance with the legislation, and procedure of registration of card schemes and\or their participants.  

 

 

The People´s Deputies believe that introduction of these amendments will diminish risks for the card schemes users payment card holders, bear a positive influence on the operation of card schemes in Ukraine, and protect consumer rights.

 

 

The National Bank is authorized to organize the cash turnover, restrict the use of protection systems, payment signs and elements of design of bank notes and coins, and fix the rules of processing, withdrawal from turnover and liquidation of cash. 

 

 

Under the bill, the number of deputy heads of the National Bank of Ukraine, and the candidates for this office shall be appointed by the consent of the Board of the National Bank of Ukraine.