C A C U A TO R S
On Amendments to Certain Laws of Ukraine
regarding mortgage bonds
(Information of the Verkhovna Rada of Ukraine (VR), 2011, N 43, pp. 448)

Verkhovna Rada of Ukraine Oh, I am. :
I. Amend the laws of Ukraine to be amended:
1. Paragraph 6 of the First Article 4 of the Law of Ukraine " On
government regulation of securities market in Ukraine " ( 448 /96-PL )
(Information of the Verkhovna Rada of Ukraine, 1996, N 51, p. 292;
2006, N 31, pp. (268) To teach in such an editorial:
" (6) Mortgage management activities-activities,
to be managed by the mortgage board manager on his behalf for
Award for the specified line on the basis of the Treaty of
Mortgage-management and envisions representation
the interests of mortgage bonds, the exercise of control of
Holding the conditions of replacing the mortgage assets or the inclusion of new
Mortgage assets to mortgage coverage, implementation of
controlling the timely and completeness of the payment emitten
with normal mortgage bonds, matching
A mortgage covering the requirements of the legislation, the execution of others
functions defined by legislation. "
2. Part of the Second Article 5 of the Law of Ukraine " On the Restoration
The solvency of the debtor or the recognition of its bankrupt "
( 2343-12 ) (Information of the Verkhovna Rada of Ukraine, 1999, N 42-43,
Oh, 378; 2002, N 17, pp. 117) complemented with the words " and about recognition
Mortgage bonds insolvent (bankrupt)-in
A part that does not contradict the Law of Ukraine "On mortgage bonds"
( 3273-15 ).
3. Article 3 of the Law of Ukraine " On Banks and Banking
activity " ( 2121-14 ) (Information of the Verkhovna Rada of Ukraine,
2001, N 5-6, pp. 30; 2007, N 2, pp. 15) complement
The fifth of this content:
" Relationships that arise during the application of the procedure
the interim administration and elimination of emitent
bonds, this Act regulates in part that does not contradict the Law
Ukraine "On Mortgage bonds" (PDF) 3273-15 ).
4. In the Law of Ukraine "On Mortgage bonds" ( 3273-15 )
(Information of the Verkhovna Rada of Ukraine, 2006, N 16, pp. 134, N 31,
Oh, (268):
(1) In Article 1, the word "issue" is replaced by the word "mission";
Article 2:
" Article 2. Term Definition
1. In this Act, the terms are used in this way:
(1) Loan debtor by credit treaty (treaty)
(a) The obligation of the
2) extract from the mortgage ' s register-the document containing
information about size, state and general characteristics of the mortgage
Coverage of the relevant issue of mortgage bonds;
(3) Treaty on the Conservation of Real
The mortgage obligations are currency, interest and other.
Derivatives used to minimize currency
of interest and to ensure the regularity of payments for
Mortgage coverage;
4) emitten-a financial institution that carries out an emission
Mortgage bonds according to the requirements established by the Act;
5) mortgage coverage-mortgage assets, as well as other assets,
which according to this Act, the prospectus of the emission and registry
The mortgage coating provides the fulfillment of the emitten's obligations for
Mortgage bonds;
6) The mortgage asset is the right to demand a mortgage
The monetary obligation of the debtor;
7) Mortgage creditor is a financial institution other than
a specialized mortgage institution, which according to
legislation has the right to grant loans (loans), execution
Debtor's obligations with which a mortgage is provided, or/or
has the right to claim mortgage mortgage requirements (loans)
From other persons;
8) mortgage ratio-ratio
between unpaid emitent the main amount of debt at the appropriate time
The release of ordinary mortgage bonds and the size of their mortgage
Coverage;
(9) Related individuals are:
legal entities under the condition that one is taking control of
Others or both are under the control of a third person;
members of the physical person ' s family-husband (wife), as well as
parents (adopers), guardians (trustees), brothers, sisters, children
and their husbands (wives);
a physical person and members of her family and legal person if such
a physical person and/or members of her family exercise control over
Legal entity;
legal entities that directly or indirectly own one in the
another fraction of the statutory capital, which is 10 and more
percent of the statutory capital of such a legal person;
(10) Percentage of normal mortgage bonds-period
(calendar days) between payment of interest due to mortgage
bonds, which are listed and paid for interest
According to the conditions of the prospectus of mortgage bonds;
11) the size of the mortgage coating is the amount not paid
The borrowers of the main debt for all mortgage and other assets
in the mortgage coating formed with respect to
features provided by the fourth article 13 of this
The Law ";
3) in Article 4:
in the name of the word "issue", replace the word "emission";
in the second sentence of part of the first word "individual registry"
the issue of mortgage securities "to replace the words"
Register of securities issues ";
in the paragraph of the first part of the third word "issue"
"placement";
the first sentence of the part of the sixth set in this edition:
" 6. Mortgage bonds exist exclusively in non-documentary
form ";
In part 8, the word "issue" is replaced by the word "mission";
4) in part one of the first Article 5:
Add paragraph 5-1 to this content:
" 5-1) order of the management action to obtain the decision of the owners
Mortgage bonds
and proposed by the manager of the method of addressing the
Mortgage coverage ";
In paragraph 12, the word "auditors" shall be excluded;
(5) Part of the fourth article of Article 7:
" 4. At the time of registration of the issue of mortgage bonds
match state and the size of their mortgage coverage requirements
the Law and regulations of the State Commission on
securities and stock market data on the mortgage register
Coverage is confirmed by an auditor (an audit firm) ";
6) in Article 8:
in the third part of the first word "Five"
"Ten".
Part of the fifth to exclude;
(7) In Article 10:
in part three of the word "monthly delivers to the manager"
replace the words " gives the extract from the mortgage registry
the manager according to the conditions of the prospectus of the emission of ordinary mortgage
bonds, but not less than every percentage period of normal
Mortgage bonds ";
in the part of the sixth word "to the State" to be replaced by the words
"the owners of mortgage bonds (on their demand) and the State";
8) in Article 13:
in part three:
2 to exclude;
Item 3:
" (3) aggregate income obtained by the emitent in the form of
interest on mortgage and other assets in the mortgage
coverage, should exceed the emitten payment payment by conventional
Mortgage bonds per percentile period of normal
Mortgage bonds ";
part of the fourth after the word "substandard" supplement the word
"doubtful";
Part of the fifth posting in this edition:
" 5. During the line of normal mortgage bonds
The emitent is required for its own funds to ensure that the
The test of the mortgage coating on the subject of its compliance
the requirements of this Act and the prospectus of the respective release
Normal mortgage bonds.
Checks are conducted by a management or auditor (audit)
(a firm), determined by the Treaty on Mortgage Management.
In case of checking the auditor (audit firm) between
managing director, emitten and auditor (audit firm)
the three-way agreement of the conduct of the inspection
Mortgage coverage.
The mortgage bar checks are held in the line,
installed in the emission test of the respective release of the ordinary
Mortgage bonds, but not less than once a year,
An SUV-on the request of a management or the State Securities Commission
and the stock market.
The auditor (audit firm) will give the management a report for
results of the mortgage coverage, based on which
The manager makes up his own report filed by the State Commission on
securities and the stock market and the owner of ordinary mortgage
bonds on its demand, as well as placed in publicly available
Information Database of the State Securities and Information Commission
securities market stock market, on the website of the emitent and
on the management web site.
The ordering of the warming cover of the normal
Mortgage bonds, results of the results management report
such inspection, the order of its submission to the State Commission of
securities and the stock market and placement in publicly available
Information Database of the State Securities and Information Commission
The stock market on securities market is set by the State
Securities and Stock Market Commission ";
(9) In Article 14:
the name of the editor in such an editorial:
" Article 14. Changes in the mortgage coverage of normal
Mortgage bonds ";
parts first and second to be replaced by three parts of this
content:
" 1. Mandatory exclusion of mortgage assets from the warehouse
The mortgage coverage of ordinary mortgage bonds is carried out in
Case:
1) detection of inconsistency of individual mortgage assets in
Composition of the mortgage requirements established by Article 7 of this
The law or the prospectus of the emission;
2) initiating the appeal of a mortgage or a mortgage
An early termination of the mortgage on any basis;
3) a borger violation for more than three months of a row
To make payments for the mortgage of the obligations;
4) infringement of the debtor for a mortgage asset
Failure in the bankruptcy case.
2. Emmitt has the right to include, exclude or replace
individual mortgage and other assets in mortgage coverage
normal mortgage bonds under the condition that the mortgage coverage for
the results of such actions shall meet the requirements established by the article
13 of this Act.
3. In case the mortgage coverage does not meet requirements,
A article 13 of this Act, or one of the circumstances,
mentioned in part one of this article, the emitent is required to
within five working days from the day of the due process
The manager or the occurrence of the circumstances of one of the following:
1) replace mortgage assets with mortgage coverage;
2) to include the mortgage coverage of new mortgage
assets or other assets listed in Part 4 of this article;
3) buy some of the mortgage bonds in place
"Dinner".
In this regard, parts of the third and fourth are considered respectively
Fourth and fifth;
10) in Article 15:
in part one:
Items 8 and 9 are taught in such an editorial:
" 8) in case of technical default sends emitten
a written request to remove such a default in order,
A prospectus for the emission of conventional mortgage bonds;
9) in case of appointment of a temporary emitent administration
the usual mortgage bonds or failure to fail
in the case of bankruptcy, or taking a decision on its
The elimination of acts stipulated by Article 17-1 of this Act ";
In part two:
the first sentence of the paragraph of the first set in this edition:
" 2. The manager can be a financial institution that has received
The license for the failure of professional activities in the securities market
Mortgage-management activities ";
Paragraph 2:
" Managing, emitent, maintenance institution and auditor
(an audit firm) cannot be associated individuals ";
In part four:
2 to exclude;
Complement the paragraph with this content:
" Links to the registration data of the usual mortgage
bonds and the avenue of their emission to enter into the treaty of
the mortgage coverage after the release of the normal
Mortgage bonds by design the application to the contract ";
Add part to the seventh of the following:
" 7. Assets included in the mortgage coating, no.
are included in the liquidation mass of the manager ";
(11) Article 17:
the name and part of the first teaching in this edition:
" Article 17. Default and technical default
Mortgage bonds
1. Defolt emittens of conventional mortgage bonds (continued)
(default)
(1) non-performing or inappropriate payment of cash obligations
according to mortgage bonds in the lines defined in the emission prospectus;
(2) violations of the imposition of the failure of the
Bankruptcy or appointment of a temporary administrator or
The liquidator;
(3) the occurrence of other cases defined in emission prospectus ";
in the paragraph of the first part of the second word " one of the conditions,
listed in the first of this article "to replace the word"
"default";
Add part to the third such content:
" 3. Technical default emittent of conventional mortgage bonds
(further-technical default) is a violation of the emitten predicted by this
The law and prospectus of the emission of ordinary mortgage requirements
to mortgage coverage and/or its non-infringement
execute commitment to the owners of ordinary mortgage
bonds.
The technical default does n' t pull the consequences of getting into it.
Case of default ";
(12) Section III supplements article 17-1 of this content:
" "Article 17-1". Defolate feature in case of violation
concerning the imposition of the failure of the
Bankruptcy or appointment of temporary
Administrator or liquidator
1. In case of depholt, a violation of the emitten
Bankruptcy proceedings or the appointment of a temporary
The administrator or the liquidator:
1) accepts the decision to address the mortgage
Coverage. In this case, the managing sells mortgage coverage,
distributes the proceeds from its sales to normal
Mortgage bonds according to part of the third article 11 of this
Law, as well as measures to receive funds for
Account of the implementation of another property of the emitant
2) perform the instructions on the staff coming from
Mortgage coverage, in the interest of owners of ordinary mortgage
Bonds in order predicted by an emission survey;
3) has the right to request a mortgage coverage to him or
defined by it maintenance institution in the order established
State Commission on Securities and Stock Market for the
Agreement with the National Bank of Ukraine.
2. The action of a moratorium on the satisfaction of creditors ' requirements
to be introduced by the National Bank of Ukraine or to the master ' s court, not
spread to meet the requirements of owners of ordinary mortgage
bonds by mortgage coverage. Interim administration
An arbitration control (a property agent, a control of the sanal,
-liquidator) and others-participants in the proceedings
The bankrupt bankruptcy has no right to commit any action regarding the
Mortgage coverage, ordered by mortgage and other assets
consisting of a mortgage coating or tear-down contracts, concluded
This is due to the development of conventional mortgage bonds.
3. Assets included in the mortgage coating are not:
included in the elimination mass of the emitent of ordinary mortgage
bonds. The assets included in the mortgage coating are not:
No arrest, no arrest. Full commitment
The emitten of the usual mortgage bonds provided before their
The owners of the mortgage, according to the respective release of such
bonds, other individuals do not have the right to present requirements for
A mortgage coating, charging or otherwise exiting
Mortgage coverage ";
(13) Part of this article 19:
" 7. During the circulation line of structured mortgage bonds
The manager is required to provide for his own funds to ensure
An auditor (an audit firm) defined by the treaty
about the management of mortgage coverage, mortgage checks
to comply with the requirements of this Act and the prospectus
The emission of the appropriate release of the structured mortgage bonds.
Between the manager and the auditor (the audit firm)
A contract is signed for the verification of the mortgage.
The mortgage bar checks are held on the line,
installed in the issuance of the respective release of the structured
Mortgage bonds, but not less than once a year,
Out-of-the-box office-for-demand for general assembly holders
Mortgage bonds or by the State Securities and
stock market.
The auditor (audit firm) will give the management a report for
results of the mortgage coverage, based on which
The manager makes up his own report filed by the State Commission on
securities and the stock market and owner of structured
Mortgage bonds on its demand, and also placed in
public information database of the State Commission for
securities and the stock market on the securities market, on
the Web site of the specialized mortgage institution and on the web site
The manager.
Mortgage inspection order
structured mortgage bonds, the management requirements for
results of such inspection, the order of its submission to the State
securities and stock market commissions and placement in
public information database of the State Commission for
securities and the stock market on the securities market
are set by the State Securities and Stock Exchange Commission
Market ";
(14) Paragraph second of the first article 21 is taught in such a
& Revision:
" Managing, emitent, maintenance institution, auditor
(...) (...) (...)
The mortgage setting for mortgage assets in the warehouse
A mortgage coating, ca n' t relate to individuals ";
(15) Part 4 of Article 22 complement the paragraph of such a
content:
" Link to the release of structured data
Mortgage bonds and the avenue of their emission to enter the treaty
about the management of the mortgage after registration
structured in mortgage bonds by design the application to
" Agreement;
(16) Paragraph 3 of the fourth article 26 supplements
"or off-schedule of mortgage coverage";
(17) Article 27 is supplemented by a part of the third such content:
" 3. Licensing conditions, including requirements up to size
the statutory and own capital, the order of its determination,
liquidity, qualification requirements for managers,
the necessary conditions of the treaties that are made during the proceedings
management activities, other requirements and indicators limiting the
of the management activities established by the State Commission on
securities and the stock market. "
5. Part of the sixth article 3 of the Law of Ukraine " On Audit
activity " ( 3125-12 ) (Information of the Verkhovna Rada of Ukraine,
2006, N 44, pp. 432) to complement the sentence of such content:
" Auditors (audit firms) can conduct validation.
A Mortgage Coverage according to the Law of Ukraine " On Mortgage
bonds " ( 3273-15 ).
II. This Act will take effect from the day, next in the day
publish.

President of Ukraine V. YASUKOVIC
Um ... Kiev, 21 April 2011
N 3265-VI