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On Amending The Law Of Ukraine "on Insurance"

Original Language Title: Про внесення змін до Закону України "Про страхування"

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On Amendments to the Law of Ukraine "On insurance"
(Information of the Verkhovna Rada of Ukraine (VR), 2005, N 37, pp. 447)

Verkhovna Rada of Ukraine Oh, I am. :
I. Bring to the Law of Ukraine "On insurance" 85 /96-PL )
(Information of the Verkhovna Rada of Ukraine, 2002, N 7, pp. 50, N 16,
Oh, 114; 2004, N 2, pp. 6; 2005, N 1, pp. (1) Such changes:
1. In Article 2:
1) is part of the first to replace three parts of this content:
" Insurers who have the right to exercise insurance
Activities in Ukraine are:
the financial institutions that are created in the form of shareholders full,
command societies or societies with additional responsibility
According to the Law of Ukraine "On the Business Society"
( 1576-12 ), with regard to the participants in each of
financial institutions must be at least three, and others
features provided by this Act and also received a
an established order of license for the exercise of insurance
Resident insurance;
registered by the authorized body according to this
Law and legislation of Ukraine permanent representation in the form of
of foreign insurance companies, who also received a
an established order of license for the exercise of insurance
(Further-non-resident insurance branches).
Non-resident insurance companies are considered financial institutions
created and have a license to fail the insurance
according to the legislation of those foreign states in which they
The provisions of this Act apply to
resident insurance, applied to affiliates
Non-resident insurers with features established by this
By Law ".
In this regard, the second is the thirteenth to be considered.
The fourth is Friday.
2) in part seven "In creating an insurance" and
The "statutory insurance fund" is replaced by the words "
the creation of the resident insurance "and" status fund
Resident insurance ";
3) after part of the eighth complement four new parts
such content:
"Registration order, licensing, exercise supervision."
activities, application of effects and elimination of affiliates
Non-resident insurance is established by this Act and
The regulatory and legal acts of the authorized body.
Non-resident insurance is entitled to open branches in Ukraine.
under the following conditions:
(1) the state in which registered insurance is not
belongs to states that do not participate in the international
Cooperation in the field of prevention and counteraction of the legalization
(refunds) of the income generated by the criminal record, and
terrorism, and also collaborates with the Financial Development Group
Measures to combat money laundering (FATF);
2) between the authorized body to oversee the
Insurance companies of the country in which
The non-resident insurance and the authorized body
A memorandum (signed) on the exchange of information;
3) for insurance in accordance with the country ' s legislation
The registration of non-resident insurance is carried out by the public health service;
4) between Ukraine and the country in which registered
Non-resident insurance contract
Tax avoidance and avoidance of double taxation;
5) non-resident insurance is located in the territory of countries or
the individual territories which according to the decision of the Organization of Economic
cooperation and development of the UN has no offshore status, or on
territories of other countries, if the non-offshore status of such an insurance
confirmed by the conclusion of the relevant trade and economic mission;
(6) Financial reliability rating (resilience)
Non-resident insurance meets the requirements set out
The authorized body;
7) the minimum size of the warranty deposit on accounts
authorized bank residents who have a license to implement
operations in the entire territory of Ukraine and are not at the moment
Placing such a deposit in the sanitary procedure, the financial
Recovery or bankruptcy, at the time of registration of the branch
less than the minimum size of the statutory fund
The resident insurance that is set in Article 30 of this Act.
The order of the account mode on which this deposit is posted,
is set by a joint decision of the Cabinet of Ministers of Ukraine and
National Bank of Ukraine.
Requirements for guarantee deposit are set by the Commissioner
(8) The presence of a written irrevocation obligation
Non-resident insurance is about the unconditional commitment to them,
which arose in connection with the activities of its branch
9) Ukraine ' s insurers granted the right to open their branches on
the territory of a foreign state in which it is established and operates
Non-resident insurance.
Registration of non-resident insurance companies is carried out
Authorized by the organ.
Non-resident insurance branch activity must comply with
Requirements established by this Act and/or regulatory
of the Commissioner of the Commissioner. "
In this regard, the ninth is to be counted as part of the 9th.
In accordance with the 13th-ninth.
2. In Article 30:
(1) The paragraph of the second part of the first set in this edition:
" the presence of an paid statutory fund for
resident insurance or warranty deposit for affiliates.
Non-resident insurance and warranty fund
Insurance ";
2) a part of the second teaching in such an editorial:
" Minimum size of a statutory fund (warranty deposit)
Insurance that deals with the types of insurance others than
life insurance, is set in sum, equivalent
1 million euros, and insurance that deals with life insurance,
"€ 10 million for foreign currency exchange rate of Ukraine".
3. Article 31 after part of the twentieth complement of a new part
such content:
" Insurance reserves of affiliated non-residents should be
located in the territory of Ukraine. "
In this regard, parts of the twenty-first and twenty-second
Count of twenty-second and twenty-third parts respectively.
4. Article 37, after paragraph 2, add new paragraph
" (3) Revoke the license for the failure of the insurance
Non-resident insurance, if non-resident insurance
depriving licenses of the failure of insurance or if
his liquidated/declared bankrupt in the country in which his
Registered ".
In this regard, paragraphs 3-11 are considered under paragraph 4-12.
5. In Article 38:
1) in the paragraph of the first part of the fourth word "insurance"
Replace the words "resident insurance";
2) complement to be part of the seventh such content:
" The authorized body establishes a separate order of issuance
licenses, a list of documents added to the statement for the recipient
Non-resident branch licenses, terms of review
Non-resident insurance branch, based on equal access rules
financial services markets. "
6. In Article 43:
1) in the paragraph of the first part of the first word "insurance"
Replace the words "resident insurance";
2) in paragraphs of the second, third, fourth and sixth parts
the second words of "insurance" and "insurance" replace respectively
The words "resident insurance" and "resident insurance";
3) in part three:
in the paragraphs of the first and third words of "insurance" and
"insurers" replace with the words "resident insurance" and
Resident insurance;
the paragraph of the fourth edition:
"participation in the number of participants of the resident insurance"
Insurance (including non-resident insurance)
the holding of all the calculations on obligations and debts
The insurance whose payment is already ";
4) in parts of the fifth and seventh word "insurance" to replace
"resident insurance";
5) to complement part of the eighth such content:
" The requirements of insured persons, insurers,
and creditors are satisfied by the assets of the branch
Non-resident insurance, in the case of their lack of warranty
of the deposit, and in case of inadequacy of branches
Non-resident insurance and its warranty deposit-per account
The non-resident who created such a branch. "
II. Final Position
1. This Act will take effect five years after accession
Ukraine to the World Trade Organization.
2. Authorized body in the annual term from the day of publication
this law to develop and approve the legal and legal acts that
They are from this law.

President of Ukraine
Um ... Kiev, 7 July 2005
N 2774-IV