Resolution of the Board

of the National Bank

of the Kyrgyz Republic

No. 2020-П-14\17-1-(ПC)

dated 27 March 2020

«On Amendments to the Resolution

of the Board of the National Bank of the Kyrgyz Republic

«On Approval of the Regulation «On the Temporary Administration»

dated 8 June 2017 No. 2017-П-12/23-8-(НПА)

In accordance with Articles 20 and 68 of the Law of the Kyrgyz Republic «On the National Bank of the Kyrgyz Republic, Banks and Banking Activities», the Board of the National Bank of the Kyrgyz Republic resolves:

• 1. To introduce amendments to the Resolution of the Board of the National Bank of the Kyrgyz Republic «On Approval of the Regulation «On the Temporary Administration» dated 8 June 2017 No. 2017-П-12/23-8-(НПА) (attached).

• 2. To the Legal Department:

  • publish this resolution on the official website of the National Bank of the Kyrgyz Republic;

  • after official publication, send this resolution to the Ministry of Justice of the Kyrgyz Republic for inclusion in the State Register of Normative Legal Acts of the Kyrgyz Republic.

• 3. This resolution enters into force upon the expiration of fifteen days from the day of official publication.

• 4. To the Payment Systems Department: bring this resolution to the attention of payment organizations and payment system operators, the Legal Entity «Association of Payment System Operators KG», the Legal Entity «Association of Communication Operators», the Closed Joint-Stock Company «Interbank Processing Center», the Legal Entity «Union of Banks of Kyrgyzstan» and commercial banks.

• 5. To entrust control over the execution of this resolution to the member of the Board of the National Bank of the Kyrgyz Republic supervising the Payment Systems Department.

Chairman
T. Abdygulov

Annex
to the Resolution of the Board of the National Bank of the Kyrgyz Republic dated 27 March 2020 No. 2020-П-14/17-1-(ПС)

Amendments

to the Resolution of the Board of the National Bank of the Kyrgyz Republic

«On Approval of the Regulation «On the Temporary Administration»

dated 8 June 2017 No. 2017-П-12/23-8-(НПА)»

To introduce the following amendments to the Resolution of the Board of the National Bank of the Kyrgyz Republic «On Approval of the Regulation «On the Temporary Administration» dated 8 June 2017 No. 2017-П-12/23-8-(НПА)»:

in the Regulation «On the Temporary Administration» approved by the above-mentioned resolution:

• paragraph 1 shall be stated in the following wording:

«1. This Regulation determines the grounds, procedure, procedures for the introduction and implementation of the Temporary Administration and the implementation during the period of the Temporary Administration of the restructuring of commercial banks, microfinance organizations attracting deposits, the State Development Bank, OJSC «Financial Company of Credit Unions», credit unions attracting deposits, including those carrying out operations in accordance with Islamic principles of banking and financing or having an «Islamic window», housing savings credit companies, taking into account the special terminology used by them in carrying out banking operations (hereinafter – banks), as well as payment organizations/payment system operators (hereinafter – PO/PSO). At the same time, restructuring procedures are not applied to credit unions and PO/PSO. This Regulation applies to credit unions and PO/PSO taking into account the specifics of their activities in accordance with the legislation of the Kyrgyz Republic.»;

• paragraph 2 shall be stated in the following wording:

«2. This Regulation uses the definitions set forth in the laws of the Kyrgyz Republic «On the National Bank of the Kyrgyz Republic, Banks and Banking Activities» and «On the Payment System of the Kyrgyz Republic», as well as the following concepts:

The Temporary Administration is introduced by the National Bank of the Kyrgyz Republic (hereinafter – the National Bank) as a measure of influence for the purpose of establishing control over:

• a bank to ensure the safety of assets, documents and information, protect the rights and legitimate interests of depositors and other creditors of the bank, ensure the stability and security of the banking system of the Kyrgyz Republic, as well as establish the real state of affairs in the bank and determine its further activities;

• PO/PSO to protect the rights and legitimate interests of users of payment systems, maintain and ensure the efficiency, security and reliability of payment systems, as well as establish the real state of affairs in the PO/PSO and determine its further activities.

Temporary Administrator – a person appointed by the National Bank as the Temporary Administrator or the head of the Temporary Administration for the purpose of implementing the Temporary Administration regime in a bank/PO/PSO.

Obstruction of the Temporary Administration – an action or inaction of the management bodies and/or individual officials and employees of the bank/PO/PSO (branch/subsidiary) and other persons associated with the bank/PO/PSO, which impede or make impossible the performance by the Temporary Administrator or the head/members of the Temporary Administration of the functions defined by the Law of the Kyrgyz Republic «On the National Bank of the Kyrgyz Republic, Banks and Banking Activities» and this Regulation.

Act on Obstruction of the Implementation of the Temporary Administration – a document that is drawn up for each fact of obstruction by the management bodies and/or individual officials and/or employees of the bank/PO/PSO (branch/subsidiary) and other persons associated with the bank/PO/PSO of the implementation of the Temporary Administration.

Supervisory Body – the structural subdivisions of the National Bank, the Supervisory Committee of the National Bank (hereinafter – the Supervisory Committee), the Payment System Committee of the National Bank (hereinafter – the Payment System Committee), provided for by the organizational structure of the National Bank.

Bank restructuring – a set of measures taken in relation to a bank for the purpose of protecting the interests of depositors and other creditors, preserving the continuity of functions of the bank that are systemically important for the banking or payment system, as well as ensuring the stability of the banking and financial system.»;

• paragraph 3 shall be stated in the following wording:

«3. A temporary administration shall be introduced into a bank/PO/OPS if there are grounds specified in the Law of the Kyrgyz Republic "On the National Bank of the Kyrgyz Republic, Banks and Banking Activities", as well as in regulatory legal acts of the National Bank.»;

• paragraph 4 shall be amended to read as follows:

«4. The decision to introduce a Temporary Administration and appoint a Temporary Administrator/Head of the Temporary Administration shall be taken by the Board of the National Bank (hereinafter – the Board)/Supervisory Committee/Payment System Committee of the National Bank upon the petition of the supervisory authority. The decision of the Board/Supervisory Committee/Payment System Committee of the National Bank to introduce a Temporary Administration and appoint a Temporary Administrator/Head of the Temporary Administration shall be formalized by a resolution and shall enter into force from the moment of its adoption, unless otherwise provided in the resolution itself.»;

• paragraph 5 shall be amended to read as follows:

«5. The decision to introduce a Temporary Administration and appoint a Temporary Administrator/Head of the Temporary Administration may be taken by the Board/Supervisory Committee/Payment System Committee of the National Bank upon the application of the Board, the Board of Directors, creditors and shareholders of the bank, members of the executive body and/or shareholders (founders)/participants of the PO/OPS, as well as upon the request of law enforcement, judicial and other authorized state bodies, which must state the grounds for appointing the Temporary Administration.»;

• paragraph 6 shall be amended to read as follows:

«6. If the introduction of a Temporary Administration is initiated by the persons specified in paragraph 5 of this Regulation, they must, when applying, submit the following documents to the National Bank:

• an application regarding the bank's failure to repay accounts payable within the next 5 (five) business days after the due date, or regarding the existence of other grounds for introducing a Temporary Administration, in accordance with the legislation of the Kyrgyz Republic;

• an application regarding the PO/OPS's failure to fulfill financial obligations to participants and/or users of the payment system and/or inability to repay obligations within the next 5 (five) business days after the due date for settlements, or regarding the existence of other grounds for introducing a Temporary Administration, in accordance with the legislation of the Kyrgyz Republic;

• justification of the need to introduce a Temporary Administration into the bank/PO/OPS with reference to the relevant regulatory legal acts and attachment of supporting documents.

The supervisory authority shall review the said documents within 20 (twenty) business days and, if the introduction of a Temporary Administration is justified and necessary, on the basis of the submitted documents, shall issue a petition for consideration by the Board/Supervisory Committee/Payment System Committee of the National Bank for a decision.»;

• paragraph 7 shall be amended to read as follows:

«7. The petition to introduce a Temporary Administration into a bank/PO/OPS must contain:

• information on the bank, branches, savings banks, subsidiary and affiliated companies, the structure of the banking group (if applicable) or information on the PO/OPS, subsidiary and affiliated companies (if applicable);

• justification for the appointment of the Temporary Administration;

• information on the financial condition of the bank/PO/OPS (including the results of the latest comprehensive and targeted inspections);

• a proposal on the term of office of the Temporary Administration, but not exceeding 6 (six) months;

• a proposal on the composition of the Temporary Administration (candidates for Temporary Administrator, members of the Temporary Administration) indicating information on the compliance of the candidates with the requirements set by the National Bank;

• proposals (if available/required) on the introduction of restrictions on the activities of the bank/PO/OPS with an indication of the justification;

• a list of the bank's correspondent banks and/or a list of suppliers of goods/services, agents of the PO, counterparties of the OPS;

• other information.»;

• paragraph 8 shall be worded as follows:

«8. The resolution of the Board/Supervisory Committee/Payment System Committee of the National Bank on the introduction of the Temporary Administration and the appointment of the Temporary Administrator/head of the Temporary Administration shall specify:

• the trade name (full official name) and abbreviated name of the bank/PO/OPS in respect of which the decision to introduce the Temporary Administration is made;

• grounds for the introduction of the Temporary Administration (including references to regulatory legal acts);

• the date and time of the commencement of the Temporary Administration regime;

• the term of the Temporary Administration regime;

• the operating regime of the bank, including the procedure for the bank to carry out settlements and payments (if necessary), or the operating regime of the PO/OPS, including the rules and procedures for accepting payments on behalf of third parties/payment processing;

• a list of restrictions on activities (if necessary) imposed on the bank/PO/OPS;

• information on the appointed Temporary Administrator, as well as persons involved in the Temporary Administration, including employees of the National Bank;

• an instruction or order binding on the Temporary Administration (if necessary);

• the deadlines for the Temporary Administration to take over the documents, assets and valuables of the bank/PO/OPS;

• a requirement to notify correspondent banks of the appointment of the Temporary Administration and/or a requirement to notify banks, the PO/OPS;

• the deadlines and procedure for the Temporary Administration to submit an expense estimate and reporting to the National Bank.

The resolution of the Board/Supervisory Committee/Payment System Committee of the National Bank on the introduction of the Temporary Administration and the appointment of the Temporary Administrator/head of the Temporary Administration may contain other provisions necessary for the performance of the tasks and functions assigned to the Temporary Administration.»;

• paragraph 10 shall be worded as follows:

«10. The resolution of the Board/Supervisory Committee/Payment System Committee of the National Bank on the introduction of the Temporary Administration and the appointment of the Temporary Administrator/head of the Temporary Administration shall be communicated to the management bodies of the bank/PO/OPS by the supervisory authority within 1 (one) working day from the moment the decision to introduce the Temporary Administration is made, unless otherwise provided in the resolution itself. A copy of the resolution of the Board/Supervisory Committee/Payment System Committee of the National Bank shall be handed over to the Chairman of the Board of Directors or the head of the bank, the head of the executive body or the head of the PO/OPS against a receipt indicating the date and time of delivery on the second copy of the copy, which is kept by the Temporary Administrator until the termination of his/her powers. A copy of the second copy of the resolution with a receipt of its receipt by the bank/PO/OPS shall be provided by the Temporary Administrator to the supervisory authority.»;

• paragraph 11 shall be worded as follows:

«11. Upon making the decision to introduce the Temporary Administration, the supervisory authority, within 1 (one) working day from the moment the decision to introduce the Temporary Administration is made:

• in the bank: sends a notification letter to organizations providing interbank settlement and payment system services, to all commercial banks, to the Deposit Insurance Agency of the Kyrgyz Republic (hereinafter – the Deposit Insurance Agency), to the Closed Joint-Stock Company "Interbank Processing Center", unless otherwise provided in the resolution itself;

• in the PO/OPS: sends a notification letter to banks, to all PO/OPS, unless otherwise provided in the resolution itself.

The notification letter must contain the following:

• the name of the bank/PO/OPS in which the Temporary Administration has been introduced;

• a message on the commencement of the Temporary Administration indicating the number and date of adoption of the relevant resolution of the Board/Supervisory Committee/Payment System Committee of the National Bank;

• the date and time of the commencement of the Temporary Administration;

• the term of the Temporary Administration;

• the full name of the Temporary Administrator;

• a specimen signature of the Temporary Administrator.»;

• in paragraph 12, after the word "Board", add the words "/Supervisory Committee/Payment System Committee";

• in paragraph 17, after the word "Board", add the words "/Supervisory Committee/Payment System Committee";

• paragraph 18 shall be worded as follows:

«18. Officials and affiliated persons of the bank/PO/OPS in which the Temporary Administration has been appointed, as well as persons who have a conflict of interest, may not be appointed to the Temporary Administration. These requirements apply, in particular, to employees of the National Bank. At the same time, the performance of individual powers may be assigned to officials of the bank/PO/OPS at the discretion of the Temporary Administrator. Such assignment must be formalized by an appropriate order/instruction of the Temporary Administrator.»;

• in paragraph 19, replace the words "Temporary Administration" with the words "Temporary Administration of the bank";

• paragraph 21:

  • after the word "Board", add the words "/Supervisory Committee/Payment System Committee";

  • in the fifth paragraph, replace the word "Law" with the words "Law of the Kyrgyz Republic 'On the National Bank of the Kyrgyz Republic, Banks and Banking Activity'";

• item 22 shall be worded as follows:

«22. A candidate for the position of Temporary Administrator must meet the following minimum requirements:

• 1) have a higher education diploma;

• 2) have at least 5 (five) years of work experience in the financial and banking system, including at least 2 (two) years in managerial positions (for the position of Temporary Administrator of a bank);

• 2-1) have at least 5 (five) years of work experience in the financial and banking system, including experience of work in the payment system (for the Temporary Administration of a PS/OPS), including at least 1 (one) year in managerial positions (for the position of Temporary Administrator of a PS/OPS);

• 3) possess knowledge of the legislation of the Kyrgyz Republic regulating banking activities, including banking risk management (for the position of Temporary Administrator of a bank);

• 3-1) possess knowledge of the legislation of the Kyrgyz Republic regulating payment systems, including payment system risk management (for the position of Temporary Administrator of a PS/OPS);

• 4) have an impeccable business reputation;

• 5) no conflict of interest with persons affiliated with the bank, creditors and borrowers of the bank, as well as with affiliated persons of the PS/OPS, suppliers of goods/services and agents of the PS and counterparties of the OPS into which the Temporary Administration is introduced.»;

• item 23 shall be supplemented after the words «в банках» («in banks») with the words «/ПО/ОПС» («/PS/OPS»);

• items 25, 26 and 29 shall be supplemented after the word «Правления» («Board») with the words «/Комитета по надзору/Комитета по платежной системе» («/Supervision Committee/Payment System Committee»);

• item 27 shall be worded as follows:

«27. From the moment the Temporary Administration is introduced:

• 1) the powers of the management bodies of the bank/PS/OPS and officials are suspended and transferred to the Temporary Administration. After that, all decisions of the management bodies are deemed invalid unless they are approved by the Temporary Administration. The Temporary Administration exercises all the powers of the management bodies:

  • of the bank in accordance with the charter of the bank and the legislation of the Kyrgyz Republic, with the exception of the power to decide on voluntary liquidation;

  • of the PS/OPS in accordance with the charter of the PS/OPS and the legislation of the Kyrgyz Republic, with the exception of the power to decide on voluntary liquidation;

• 2) only the Temporary Administration is entitled to act on behalf of the bank/PS/OPS as a legal entity. Any actions taken by anyone on behalf of the bank/PS/OPS are deemed void ab initio;

• 3) the enforcement of judicial acts on the collection of debts from the bank/PS/OPS is suspended, with the exception of property held in trust management by the bank/PS/OPS;

• 4) the accrual of interest, penalties and other financial sanctions on all debt obligations of the bank/PS/OPS, including the payment of mandatory payments to the budget, is terminated;

• 5) the distribution of profits, the payment of dividends, the performance of any financial obligations to shareholders, as well as the payment of any remuneration (bonuses, premiums and other incentive payments, except fixed salary) to officials and employees of the bank/PS/OPS is terminated;

  • 6) all banking operations and payments, transactions and other activities are suspended, unless otherwise established by the National Bank;

  • 7) court proceedings in civil and economic cases in which the bank/PA/OPC is a party are suspended;

  • 8) execution of any enforcement acts of authorized state bodies adopted in relation to the bank/PA/OPC is suspended.";

• in paragraph 30, the word "Law" shall be replaced by the words "Law of the Kyrgyz Republic "On the National Bank of the Kyrgyz Republic, Banks and Banking Activities";

• paragraph 31 shall be stated as follows:

"31. From the moment of introduction of the Temporary Administration, officials of the bank/PA/OPC are obliged to ensure the Temporary Administration full and unhindered access to the premises, assets and documentation of the bank/PA/OPC.";

• paragraph 32 shall be stated as follows:

"32. The management of the bank (members of the Management Board)/PA/OPC (members of the executive body), upon introduction of the Temporary Administration, is obliged to provide the Temporary Administration with a separate room in the bank/PA/OPC in which there are no audio/video devices carrying out audio/video recording, to suppress any attempts by third parties to install audio/video equipment in the room provided to the Temporary Administration, to ensure the security of storage of documents of the bank/PA/OPC, the Temporary Administration, and also to provide the Temporary Administration with equipment and technical means necessary for carrying out activities.";

• paragraph 33 shall be stated as follows:

"33. The Temporary Administration, during its period of activity, shall use office premises, means of communication, motor vehicles and other technical means belonging to the bank/PA/OPC, in the manner and on the terms established for the executive body of the bank/PA/OPC, unless the interests of the security of the Temporary Administration and/or protection of official information, or other circumstances require the establishment of special working conditions and technical equipment for the Temporary Administration.";

• paragraph 34 shall be stated as follows:

"34. The Temporary Administrator, for the purposes of carrying out the Temporary Administration, may delegate those powers which he considers necessary within the framework of his competence and the purpose of introducing the Temporary Administration, to the heads and employees of the bank/PA/OPC, unless otherwise established by the Management Board/Supervisory Committee/Payment System Committee of the National Bank. Also, the Temporary Administrator has the right to engage specialists for the implementation of the Temporary Administration. Information about this must be reflected in the report of the Temporary Administrator submitted to the National Bank.";

• paragraph 35 shall be stated as follows:

"35. The Temporary Administrator, immediately after his appointment:

    - in the case of introduction of the Temporary Administration in a bank, notifies the branches, subsidiaries and representative offices of the bank, the banking group, the foreign bank (whose branch is the bank in which the Temporary Administration has been introduced);

    - in the case of introduction of the Temporary Administration in a PA/OPC, notifies banks, subsidiaries of the PA/OPC, dependent companies (if applicable) of the PA/OPC about the introduction of the Temporary Administration and sends a notification letter containing a specimen signature of the Temporary Administrator;

    - issues orders on the creation of a commission for conducting an inventory, on the introduction of a special access regime for persons entitled to access the premises of the bank (branches/subsidiaries)/PA/OPC, including remote access to automated and information systems, and other necessary orders and instructions at the discretion of the Temporary Administrator for the purposes of carrying out the Temporary Administration.";

• in paragraph 36:

the first paragraph shall be stated as follows:

"The Temporary Administrator, immediately after his appointment, informs correspondent banks/banks, suppliers of goods/services and agents of the PA/OPC about the introduction of the Temporary Administration regime (via SWIFT channels, by fax, by other available and acceptable means of communication) and sends a notification letter which contains the following:";

the second paragraph after the word "Management Board" shall be supplemented with the words "/Supervisory Committee/Payment System Committee";

• paragraph 38 shall be stated as follows:

"38. The main task of the Temporary Administration is to conduct the regime of the Temporary Administration of the bank/PA/OPC, in accordance with the legislation of the Kyrgyz Republic.";

• paragraph 39 shall be stated as follows:

"39. The duties of the Temporary Administration include the following, based on the purposes and grounds for which the Temporary Administration is introduced:

    - taking measures to prevent deterioration of the financial condition of the bank/PA/OPC;

    - ensuring the safety of records, documents and assets of the bank/PA/OPC;

    - conducting a reconciliation of financial statements with the actual state of affairs in the bank/PA/OPC;

    - minimizing, where possible, the expenses of the bank/PA/OPC;

    - coordinating with the National Bank actions on interaction with law enforcement agencies, if necessary;

    - taking necessary measures to restore the solvency of the bank/PA/OPC if there are real opportunities and intentions of the participants of the bank/PA/OPC to improve the financial condition of the bank/PA/OPC;

    - preparing recommendations for the further activities of the bank/PA/OPC;

    - carrying out measures for the restructuring of the bank if there is a corresponding decision of the National Bank;

    - taking other measures for the purposes of the Temporary Administration.";

• paragraph 40 after the word "Management Board" shall be supplemented with the words "/Supervisory Committee/Payment System Committee";

• paragraph 42 after the word "Management Board" shall be supplemented with the words "/Supervisory Committee/Payment System Committee";

• paragraph 43 shall be stated as follows:

«43. During the period of the Temporary Administration, the reporting of the bank, including branches and subsidiaries, or of the PO/OPS (daily, monthly, quarterly, annual and other reporting and information), shall be signed by the Temporary Administrator (the representative of the Temporary Administration in the branch/subsidiary) and the chief accountant in accordance with the requirements of the National Bank.

During the period of the Temporary Administration, the bank/PO/OPS shall submit reports to state bodies (tax bodies, statistical bodies and others).»;

• paragraph 44 shall be set out in the following wording:

«44. The Temporary Administrator shall have the right:

    - to appoint or engage specialists to be appointed as representatives of the Temporary Administration in branches of the bank, as well as in the management bodies of its subsidiaries, in representative offices and/or branches of the PO/OPS (if any);

    - to convene a general meeting of shareholders in the manner established by the legislation of the Kyrgyz Republic;

    - to seal, if necessary, the premises of the bank/PO/OPS;

    - to close (suspend the activity of) branches, subsidiaries, representative offices, savings banks and other structural subdivisions of the bank, or representative offices and/or branches of the PO/OPS (if any);

    - to sign any documents and contracts on behalf of the bank/PO/OPS;

    - to submit claims and lawsuit demands on behalf of the bank/PO/OPS;

    - to conclude a contract for conducting an independent audit of the bank/PO/OPS;

    - to sign orders and instructions binding on representatives of the Temporary Administration and employees of the bank/PO/OPS;

    - to issue (with mandatory compliance with labor legislation) orders/instructions on hiring, appointment to positions, dismissal or temporary suspension from office, and distribution of duties among employees of the bank/PO/OPS;

    - to revise the staffing schedule of the bank (head office, divisions, branches, etc.)/PO/OPS, including representative offices and/or branches, in accordance with labor legislation;

    - to raise the question of holding liable (including by applying to the relevant law enforcement and judicial bodies) the managers and participants of the bank/PO/OPS and other persons connected with the bank/PO/OPS for actions that led to the introduction of the Temporary Administration and/or caused problems in the bank/PO/OPS, with subsequent notification of the supervisory body;

    - during the period of the Temporary Administration of the bank/PO/OPS, to be a representative in all courts on behalf of the bank/PO/OPS in which the Temporary Administration is being carried out, as plaintiff or defendant;

    - to perform other functions in accordance with the legislation of the Kyrgyz Republic.»;

• paragraph 45 shall be set out in the following wording:

«45. With the permission of the Board/Supervisory Committee/Payment System Committee of the National Bank, the Temporary Administrator may make partial or full payment of amounts:

    - on deposits of persons not connected with the bank, on the basis of information submitted by the Temporary Administrator, with corresponding justification for the payments and submission of information on the impact of the payments on the financial condition of the bank and liquidity indicators;

    - on the indebtedness of the PO/OPS to banks, suppliers of goods/services, agents, counterparties, on the basis of information provided by the Temporary Administrator, with corresponding justification for the payments and provision of information on the impact of the payments on the financial condition of the PO/OPS.»;

• paragraph 46 shall be supplemented with paragraphs of the following content:

«The Temporary Administration shall be obliged to stop any payments related to administrative and economic expenses of the PO/OPS if it concludes that the PO/OPS is insolvent and must be declared bankrupt.

The Temporary Administration must ensure payment of indebtedness, first of all, to suppliers of goods/services wholly or partially in state ownership, utility enterprises and budgetary organizations, as well as to other suppliers of goods/services.»;

• paragraph 47 shall be set out in the following wording:

«47. Within a period not later than 15 (fifteen) calendar days from the day of introduction of the Temporary Administration into the bank/PO/OPS, the Temporary Administrator shall be obliged to prepare and submit to the Board/Supervisory Committee/Payment System Committee of the National Bank a report on the current financial condition and assessment of the activity of the bank/PO/OPS. The report may be prepared with the help of an external auditor, the cost of whose services shall be included in the expenses for the Temporary Administration. The report of the Temporary Administrator shall include an assessment of the value of assets that may be realized upon liquidation of the bank or bankruptcy of the PO/OPS, a full determination of the volume of obligations and remaining capital resources, as well as one of the following recommendations with corresponding justification:

    - resumption of the independent activity of the bank/PO/OPS in connection with the elimination of problems;

    - revocation of the bank's license and commencement of compulsory liquidation of the bank;

    - revocation of the license of the PO/OPS;

    - carrying out measures for the restructuring of the bank.»;

• paragraph 48 shall be set out in the following wording:

«48. The Board/Supervisory Committee/Payment System Committee of the National Bank, having considered the report and recommendations of the Temporary Administrator, shall adopt one of the following decisions:

    - on resumption of the independent activity of the bank/PO/OPS in connection with the elimination of problems;

    - on revocation of the bank's license and commencement of compulsory liquidation of the bank, in accordance with legislation;

    - on revocation of the license of the PO/OPS;

    - on supporting the proposal to commence restructuring of the bank.

On the basis of the decision adopted by the Board/Supervisory Committee/Payment System Committee of the National Bank, the Temporary Administrator, within the period established by the National Bank, shall prepare an action plan for the further activity of the bank/PO/OPS, which shall be submitted for consideration to the Board/Supervisory Committee/Payment System Committee of the National Bank.»;

• paragraph 61 shall be set out in the following wording:

«61. In the event of the National Bank's refusal to grant the petition for restructuring, the Temporary Administrator must submit to the National Bank a petition with new/revised measures for the restructuring of the bank or with a proposal for the liquidation of the bank within the timeframes established by the Board of the National Bank.»;

• in paragraph 73, the word «Закон» shall be replaced by the words «Закон Кыргызской Республики «О Национальном банке Кыргызской Республики, банках и банковской деятельности»;

• the title of chapter 13 shall be stated in the following wording:

«Representative of the Temporary Administrator in a branch/subsidiary of the bank, representative office and/or branch of a PO/OPS»;

• in paragraph 91, the word «Законом» shall be replaced by the words «Законом Кыргызской Республики «О Национальном банке Кыргызской Республики, банках и банковской деятельности»;

• paragraph 99 shall be stated in the following wording:

«99. To assist the Temporary Administrator, the Temporary Administrator may engage specialists as representatives of the Temporary Administrator. The number of representatives of the Temporary Administrator is determined by the Temporary Administrator depending on the presence of branches, subsidiaries, savings banks and other structural subdivisions of the bank, and for a PO/OPS – a representative office and/or branch, as well as the nature and scope of the work to be performed. The terms of remuneration and the liability of the representative of the Temporary Administrator are established in accordance with the contract concluded with the Temporary Administrator.»;

• paragraph 100 shall be stated in the following wording:

«100. A specialist engaged by the Temporary Administrator to perform the functions of a representative of the Temporary Administrator must have at least 2 (two) years of work experience in the financial-banking system/payment system, and must not be a person affiliated with the bank/PO/OPS or having a conflict of interest.»;

• paragraph 102 shall be stated in the following wording:

«102. The representative of the Temporary Administrator delivers a copy of the order to the head of the branch/subsidiary/savings bank of the bank, the head of the representative office and/or branch of the PO/OPS, who must sign and indicate the date and time of delivery on the second copy of the copy, which is kept by the representative of the Temporary Administrator until termination of his powers.»;

• paragraph 105 shall be stated in the following wording:

«105. The Temporary Administrator has the right not to appoint a representative of the Temporary Administration to a branch (subsidiary), savings bank and other structural subdivisions of the bank, representative office and/or branch of the PO/OPS and to delegate powers/functions to the head of the branch/savings bank (subsidiary) of the bank and other structural subdivisions of the bank, the head of the representative office and/or branch of the PO/OPS with coordination of all transactions with the Temporary Administrator.»;

• paragraph 106 shall be stated in the following wording:

«106. Expenses of the Temporary Administration related to its activities shall be borne at the expense of the bank/PO/OPS in which the Temporary Administration regime has been introduced.»;

• paragraph 107 shall be stated in the following wording:

«107. Remuneration of the Temporary Administrator and specialists engaged by him who are not employees of the National Bank shall be paid at the expense of the funds of the bank/PO/OPS. In cases where the bank/PO/OPS in which the Temporary Administrator has been appointed does not have liquid funds to pay remuneration to the Temporary Administrator and specialists engaged by him who are not employees of the National Bank, upon the petition of the Temporary Administrator and by decision of the National Bank, these expenses shall be borne at the expense of the National Bank's own funds. These expenses shall subsequently be charged to the costs of the bank/PO/OPS in which the Temporary Administrator has been appointed. Remuneration of employees of the National Bank engaged in the Temporary Administration shall be paid at the expense of the National Bank's own funds.

Expenses for remuneration of the Temporary Administrator and specialists engaged by him who are not employees of the National Bank, incurred at the expense of the National Bank, shall be reimbursed by the bank/PO/OPS in the event of termination of the activities of the Temporary Administration, and in the event of the commencement of compulsory liquidation proceedings in respect of the bank – in accordance with the order of satisfaction of creditors' claims, in the manner established by the Law of the Kyrgyz Republic «On the National Bank of the Kyrgyz Republic, Banks and Banking Activities».»;

• paragraphs 108 and 110 after the words «Правление», «Правления» shall be supplemented with the words «/Комитет по надзору/Комитет по платежной системе» in various cases;

• the tenth paragraph of paragraph 112 after the word «банка» shall be supplemented with the words «/ПО/ОПС»;

• paragraphs 113 and 115 after the word «Правлением» shall be supplemented with the words «/Комитетом по надзору/Комитетом по платежной системе»;

• the title of chapter 15 shall be stated in the following wording:

«Acceptance and transfer of seals, keys and documentation of the bank/PO/OPS to the Temporary Administration»;

• paragraph 116 shall be stated in the following wording:

«116. Upon arrival of the Temporary Administration at the bank/PO/OPS, the head of the bank/PO/OPS shall surrender, and the Temporary Administrator shall accept, all seals (stamps) and keys of the bank/PO/OPS (including electronic ones), signing the acceptance-transfer act or the corresponding register of seals and keys of the bank/PO/OPS.

The representative of the Temporary Administrator in a branch/subsidiary of the bank shall accept from the head of the branch/subsidiary all seals (stamps) and keys of the bank (including electronic ones), signing the acceptance-transfer act or the corresponding register of seals and keys of the bank.

The representative of the Temporary Administrator in the representative office and/or branch of the PO/OPS (if any) shall accept from the head of the subsidiary all seals (stamps) and keys of the PO/OPS (including electronic ones), signing the acceptance-transfer act or the corresponding register of seals and keys of the PO/OPS.»;

• paragraph 117 shall be stated in the following wording:

«117. The head of the bank/PO/OPS and the chief accountant of the bank/PO/OPS shall surrender the accounting and other documentation of the bank/PO/OPS to the Temporary Administrator at least according to the list in accordance with Appendix 1 to this Regulation.

The acceptance and transfer of the specified documentation is carried out in the manner and within the timeframes established by the resolution of the Board/Supervisory Committee/Payment System Committee of the National Bank, and is formalized by the corresponding act (acts).

The head and chief accountant of the branch/subsidiary company of the bank/PO/OPS shall hand over the accounting and other documentation of the bank/PO/OPS to the representative of the Temporary Administrator at least according to the list in accordance with Appendix 1 to this Regulation.»;

• paragraph 118 after the word "bank" shall be supplemented with the words "/PO/OPS";

• paragraph 119 shall be stated in the following wording:

«119. The Temporary Administrator is obliged, no later than the working day following the day of introduction of the Temporary Administration, to begin conducting:

    - an inventory in the head office, branches, structural subdivisions of the bank of all material assets (fixed assets, equipment, etc.) in the bank, including property not belonging to the bank and held by it in pledge, in trust management (hereinafter – inventory); an inventory in the PO/OPS, including its representative offices/branches, of all material assets (fixed assets, equipment, etc.). The timeframes for conducting the inventory are determined by order of the Temporary Administrator depending on the number of branches, other structural subdivisions, the volume of expected work, but cannot exceed 30 (thirty) calendar days from the moment of introduction of the Temporary Administration;

    - an audit of banknotes, coins and other valuables located in cash desks, ATMs, payment terminals and operational cash desks outside the cash center of the bank, in its branches and representative offices (hereinafter – audit), or an audit of banknotes, coins and other valuables located in cash desks, payment terminals of the PO/OPS. The audit must be completed no later than 3 (three) working days from the day of introduction of the Temporary Administration;

    - reconciliation of accounts in correspondent banks with receipt of confirmation on the accounts of all correspondent banks as of the date of commencement of the Temporary Administration;

    - reconciliation of accounts of the PO/OPS on accounts opened in commercial banks, with receipt of confirmation on the accounts in commercial banks as of the date of commencement of the Temporary Administration.

Also, the Temporary Administrator:

1) performs reconciliation in the bank of:

      - securities accounted for at market or adjusted value;

      - loans, adjustments of the reserve for covering potential losses and losses on loans in accordance with the provisions "On Classification of Assets and Corresponding Deductions to the Reserve for Covering Potential Losses and Losses" and "On Classification of Assets and Corresponding Deductions to the Reserve for Covering Potential Losses and Losses when Carrying Out Operations in Accordance with Islamic Principles of Banking and Financing", approved by the Board of the National Bank;

      - other assets recognized at estimated value;

2) draws up a balance sheet taking into account adjustments for individual items as a result of the reconciliation in the bank.

3) draws up a balance sheet based on the results of the reconciliation in the PO/OPS.»;

• the first paragraph of paragraph 121 shall be stated in the following wording:

«In the event that the head of the bank/PO/OPS (chief accountant or any other employee of the bank/PO/OPS) refused to conduct the audit and/or inventory, to participate in the commission for the audit and/or inventory, the Temporary Administrator draws up an act on counteraction to the implementation of the Temporary Administration.»;

• the name of chapter 17 after the word "bank" shall be supplemented with the words "/PO/OPS";

• paragraph 122 shall be stated in the following wording:

«122. The Temporary Administrator, within 2 (two) working days from the moment of introduction of the Temporary Administration in the bank, shall provide to the National Bank properly executed cards with specimen signatures of the Temporary Administrator and other persons who are granted the right of signature on the settlement documents of the bank (in 2 (two) copies).

The representative of the Temporary Administration of a bank that has a branch/subsidiary company of the bank in the regions, within 2 (two) working days from the moment of introduction of the Temporary Administration, must provide to the regional department of the National Bank properly executed cards with specimen signatures of the representative of the Temporary Administration and other persons to whom the Temporary Administrator grants the right of signature on the settlement documents of the bank (in 2 (two) copies).

The Temporary Administrator, within 2 (two) working days from the moment of introduction of the Temporary Administration in the PO/OPS, shall provide to the commercial banks in which accounts of the PO/OPS are opened, properly executed cards with specimen signatures of the Temporary Administrator and other persons who are granted the right of signature on the settlement documents of the PO/OPS (in 2 (two) copies), including the right of access to the bank accounts of the PO/OPS through which operations are carried out by means of remote/distance servicing.»;

• paragraph 123 shall be stated in the following wording:

«123. Cards with specimen signatures of employees of the bank and its branches/subsidiary companies who, at the moment of introduction of the Temporary Administration and appointment of the Temporary Administrator, had the right of signature on payment documents of the bank, are considered invalid. The specified cards shall be kept in the National Bank and regional departments of the National Bank, respectively.

Cards with specimen signatures of employees of the PO/OPS and its/his representative offices/branches who, at the moment of introduction of the Temporary Administration and appointment of the Temporary Administrator, had the right of signature on payment documents of the PO/OPS, are considered invalid. The specified cards shall be kept in the commercial bank in which accounts of the PO/OPS are opened.»;

• paragraph 124 shall be stated in the following wording:

«124. The right of first signature on the settlement documents of the bank/PO/OPS belongs to the Temporary Administrator, and on the settlement documents of a branch/subsidiary company of the bank/PO/OPS – to the representative of the Temporary Administrator.

The right of the second signature on the bank's payment documents belongs to the chief accountant of the bank or to a representative of the Temporary Administration/a person who is part of the Temporary Administration, who, according to the distribution of duties, performs the functions of the chief accountant, and on the settlement documents of a branch/subsidiary of the bank – to the chief accountant of the branch/subsidiary or another person authorized by the Temporary Administrator, on the proposal of the representative of the Temporary Administration, to perform the functions of the chief accountant of the branch/subsidiary.

The right of the second signature on the payment documents of the PO/OPS belongs to the chief accountant of the PO/OPS or to a representative of the Temporary Administrator/a person who is part of the Temporary Administration, who, according to the distribution of duties, performs the functions of the chief accountant, and on the settlement documents of a subsidiary of the PO/OPS (if any) – to the chief accountant of the representative office/branch or another person authorized by the Temporary Administrator, on the proposal of the representative of the Temporary Administration, to perform the functions of the chief accountant of the subsidiary.

The Temporary Administrator has the right to decide to retain for the head of a branch of the bank his functions and the right of the first signature of the settlement documents of the branch of the bank.

The Temporary Administrator has the right to decide to retain for the head of the representative office/branch of the PO/OPS her/his functions and the right of the first signature of the settlement documents of the representative office/branch of the PO/OPS.»;

• paragraph 125 shall be set out in the following wording:

«125. Payment documents of the bank and its branches are accepted for execution by the structural subdivision of the National Bank carrying out settlement operations, by institutions providing services for interbank payments and settlements, by correspondent banks, signed by the persons specified in paragraph 124 of this Regulation.

Payment documents of the PO/OPS and its representative offices/branches are accepted for execution by the commercial bank in which the accounts of the PO/OPS are opened, signed by the persons specified in paragraph 124 of this Regulation.»;

• the first paragraph of paragraph 128 shall be set out in the following wording:

«In the event of opposition by the management bodies and/or individual officials and employees of the bank/PO/OPS and other persons associated with the bank/PO/OPS to the exercise of the functions of the Temporary Administration, the Temporary Administrator shall draw up an act on opposition to the exercise of the Temporary Administration (according to Appendix 3 to this Regulation).»;

• paragraph 130 shall be set out in the following wording:

«130. In a branch/subsidiary of the bank, representative office/branch of the PO/OPS, the act on opposition to the exercise of the Temporary Administration is drawn up and signed by the representative of the Temporary Administrator. A copy of the act on opposition to the exercise of the Temporary Administration is sent to the Temporary Administrator.»;

• paragraph 131 shall be set out in the following wording:

«131. The act on opposition to the exercise of the Temporary Administration shall be subject to mandatory registration in the bank/PO/OPS as incoming correspondence, indicating the date, the incoming number and information about the person who registered this document.»;

• paragraph 132 shall be set out in the following wording:

«132. The Temporary Administrator has the right to apply to law enforcement bodies with a statement about the facts of opposition by the management bodies of the bank/PO/OPS and/or individual officials and employees, and other persons associated with the bank/PO/OPS, to the exercise of the Temporary Administration, in accordance with the legislation.»;

• paragraph 133 shall be set out in the following wording:

«133. Opposition by the management bodies of the bank (branch/subsidiary), PO/OPS (representative office/branch) and/or their individual officials and employees and other persons associated with the bank/PO/OPS to the Temporary Administrator (his representatives) is grounds for applying to the bank/PO/OPS and/or their individual officials measures of influence in accordance with the legislation.»;

• item 134 shall be worded as follows:

«134. The term of office of the Temporary Administration may be extended once by a decision of the Board/Supervisory Committee/Payment System Committee of the National Bank, in accordance with the Law of the Kyrgyz Republic "On the National Bank of the Kyrgyz Republic, Banks and Banking Activity", for a period of not more than six months.»;

• in item 135:

the first sentence shall be worded as follows:

«The supervisory authority shall, on the day of the decision to extend the Temporary Administration, prepare a notification letter, which shall be communicated in the prescribed manner to organizations providing interbank payment and settlement services, PS/UPS.»;

the second sentence shall be supplemented after the word "Board" with the words "/Supervisory Committee/Payment System Committee";

• items 137 and 138 shall be supplemented after the word "Board" with the words "/Supervisory Committee/Payment System Committee";

• item 139 shall be worded as follows:

«139. The powers of the bank's/PS/UPS officials, suspended for the period of the Temporary Administration, shall be reinstated after the termination of the Temporary Administrator's activities, provided that such persons have not been dismissed in accordance with the legislation of the Kyrgyz Republic and there is no requirement from the National Bank to replace the bank's/PS/UPS officials.»;

• item 140 shall be worded as follows:

«140. After the reinstatement of the powers of the bank's/PS/UPS officials, the Temporary Administrator shall hand over, and the head of the bank/PS/UPS shall accept within the agreed timeframes, the seals (stamps), keys (including electronic ones), accounting and other documentation of the bank/PS/UPS according to the list, in accordance with Appendix 1 to this Regulation.

The acceptance and handover of the seals (stamps), keys (including electronic ones), accounting and other documentation of the bank/PS/UPS shall be formalized by a relevant act (acts).»;

• item 141 shall be supplemented with a second paragraph of the following content:

«The PS/UPS shall, within 2 (two) days from the moment of the termination of the Temporary Administration, provide to the commercial banks where its settlement accounts are held, properly executed cards with samples of signatures of the PS/UPS officials, as well as other persons who have the right to sign on the PS/UPS settlement documents (in two copies).»;

• in item 145, the words "providing services for interbank settlement and payment systems" shall be replaced with the words "providing interbank payment and settlement services";

• Appendix 1 shall be worded as follows:

«Appendix 1

Minimum list

of documentation of a bank (branch/subsidiary), PS/UPS (representative office/branch) subject to mandatory handover upon the commencement and termination of the Temporary Administration

    - 1. Constituent documents of the bank (branch/subsidiary), PS/UPS (representative office/branch).

    - 2. Certificate of state registration (re-registration) of the bank (branch/subsidiary), PS/UPS (representative office/branch).

    - 3. Licenses for the bank/PS/UPS to carry out banking operations, as well as to carry out professional activities in the securities market and other licenses and permits.

    - 4. Staff schedule of the bank (branch/subsidiary), PS/UPS (representative office/branch), list of employees of the bank (branch/subsidiary), PS/UPS (representative office/branch) indicating the position, structural unit in which they work, official salary, list of vacant positions, as well as personal files and employment record books of the bank's/PS/UPS employees (representative office/branch). All orders on personnel and main activities.

    - 5. List of branches, representative offices and subsidiaries (including those located abroad) indicating their location.

    - 6. Balance sheet of the bank (branch/subsidiary), PS/UPS (representative office/branch) as of the date of appointment/termination of the Temporary Administration, both for the bank as a whole and by branches, for the PS/UPS (and by representative office/branch), as well as off-balance sheet accounting reports.

    - 7. List of clients of the bank (branch/subsidiary) indicating the account number, legal file number with a note on the number of sheets in each file (legal files must contain inventories of documents).

    - 8. List of suppliers of goods/services, agents of the PS/UPS indicating the account number, legal file number with a note on the number of sheets in each file (legal files must contain inventories of documents).

    - 9. Documentation on guarantees issued, letters of credit and other obligations of the bank.

    - 10. Contracts for all transactions concluded by the bank (branch/subsidiary), PS/UPS (representative office/branch), including business contracts.

    - 11. Contracts on establishing correspondent relations, codes of electronic payments and signature analogues, including electronic keys.

    - 12. Credit files and other files maintained by the bank (branch/subsidiary), documents on pledged property, guarantee and other off-balance sheet obligations issued by the bank.

    - 13. All available reports on audit inspections conducted in the bank/PS/UPS by external auditors.

    - 14. Register of powers of attorney, as well as copies of powers of attorney issued to bank/PS/UPS employees, heads of their branches, subsidiaries, representative offices and third parties.

    - 15. All minutes and decisions of the executive body of the bank/PS/UPS, administrative documents and registers of such documents.

    - 16. All minutes of meetings of the Board of Directors (if available) and meetings of owners (shareholders) of the bank/PS/UPS.

    - 17. Register of incoming and outgoing correspondence of the bank (branch/subsidiary), PS/UPS (representative office/branch). Incoming and outgoing correspondence of the bank/PS/UPS with the National Bank, bank clients, organizations.

    - 18. Register of contracts, agreements and arrangements concluded by the bank (branch/subsidiary), PS/UPS (representative office/branch).

    - 19. Samples of signatures of persons who had the right of first and second signature on payment documents, as well as signatures on credit and other contracts, employment agreements and contracts concluded by the bank (branch/subsidiary), PS/UPS (representative office/branch).

    - 20. Estimate of administrative and operational expenses of the bank (branch/subsidiary), PO/OPS (representative office/branch).

    - 21. List of claims, lawsuits and writs of execution brought against the bank (branch/subsidiary), PO/OPS (representative office/branch) in judicial and extrajudicial proceedings, indicating the amounts, as well as claims of the bank/PO/OPS against others.

    - 22. Inventory list of fixed assets, low-value movable property, other assets, as well as documents, archive (to be transferred after the completion of the inventory).

    - 23. Company letterheads (or other document forms containing the company's emblem and other details of the bank/PO/OPS) used for sending official requests of the bank/PO/OPS.

    - 24. All reports on targeted and comprehensive inspections conducted in the bank/PO/OPS.

    - 25. Any other documents that, in the opinion of the temporary administrator, must be transferred by the management of the bank (branch/subsidiary), PO/OPS (representative office/branch).

    - 26. The temporary administrator shall have the right to demand from the management of the bank (branch/subsidiary), PO/OPS (representative office/branch) additional documents and documents confirming the authenticity of the documents listed in this list.»;

• the title of Appendix 2 shall be worded as follows:

«Minimum Requirements for the Report of the Temporary Administrator on the Work Performed in the Bank»;

    - in subparagraph seven of paragraph 1 of Appendix 2:

in the sixth paragraph, the words «(subsidiary institutions)» shall be replaced with the words «(subsidiary companies)»;

in the ninth paragraph, the words «subsidiary institution» shall be replaced with the words «subsidiary company»;

• the Regulation shall be supplemented with Appendix 2-1 of the following content:

«Appendix 2-1

Minimum Requirements

for the Report of the Temporary Administrator on the Work Performed in the PO/OPS

1. The monthly report must include:

      - 1) the balance sheet of the PO/OPS as of the last day of the reporting month;

      - 2) a report on the actual repayment of the amount of debt to suppliers of goods/services, agents for the reporting month compared with the planned repayment schedule, the repayment schedule for the upcoming month (by week);

      - 3) a forecast of the repayment of the PO/OPS obligations for the upcoming month (by week);

      - 4) other data that, in the opinion of the National Bank, are necessary for submission as part of the monthly report (upon request).

The monthly report shall reflect:

      - information on the measures taken by the Temporary Administration to increase the capital of the PO/OPS;

      - the conclusion of the Temporary Administrator on the likelihood of the recovery of the PO/OPS.

In addition, the monthly report must contain a brief explanatory note indicating:

      - information on changes in the structure and number of staff of the PO/OPS and its representative offices/branches, on the appointment and dismissal of employees of the PO/OPS, on changes in the composition of representatives of the Temporary Administration.

      - information on the main measures for the financial recovery of the PO/OPS carried out during the reporting period in accordance with the developed plan, an explanation of the reasons for the non-fulfillment of measures and (or) their fulfillment not within the time limits specified in the plan;

      - information on opposition by the management bodies and (or) individual employees of the PA/OPC (representative office/branch) to the Temporary Administration (its representatives) during the performance of its functions.

2. The report for the entire period of the Temporary Administration must include all data characterizing changes in the main financial indicators of the PA/OPC's activities for the entire period of work of the Temporary Administration, as well as reasoned conclusions on the results of the Temporary Administration's fulfillment of the tasks assigned to it (forecast of the consequences of the Temporary Administration, etc.).

3. Copies of orders and instructions of the Temporary Administration must be attached to the report of the Temporary Administration for the entire period.

4. The report is signed by the Temporary Administrator.»;

• Appendix 3 shall be stated in the following wording:

«Appendix 3

ACT

on opposition to the implementation of the Temporary Administration

_____________________________________________________________________________ (name of the commercial bank/PA/OPC _____________________________________________________________________________ (branch, subsidiary company, savings bank, representative office)) _____________________________________________________________________________ (location of the bank/PA/OPC (branch, subsidiary company, representative office _____________________________________________________________________________ terminal, savings bank), address, telephone)

---

(place of drawing up)

«_» ______________ 20

By me, Temporary Administrator/representative of the Temporary Administrator ____________________________________ in the presence of the undersigned persons (full name):

1. _______________________________________________________________________
2. _______________________________________________________________________
3. _______________________________________________________________________

this act has been drawn up stating that the commercial bank/PA/OPC represented by:

_____________________________________________________________________________ (full name of the head, official/employee(s) of the bank/PA/OPC)

obstructed the implementation of the Temporary Administration:

_____________________________________________________________________________ (did not allow into the building of the bank/PA/OPC, did not provide the documents requested by the Temporary _____________________________________________________________________________ Administrator/representative of the Temporary Administration of the bank, etc.)

The employee(s) of the bank/PA/OPC has/have been warned by the Temporary Administrator/representative of the Temporary Administration about the liability of the bank/PA/OPC and its officials for obstructing the implementation of the Temporary Administration.

The act has been drawn up:
_____________________________________________________________________________ (full name of the Temporary Administrator/representative of the Temporary Administration) (Signature)

Acknowledged:
_____________________________________ (full name of the employee of the bank/PA/OPC) ____________________ (position) ______________________ (Signature)

A second copy of the act has been received _____________________________________________ (full name of the employee of the bank/PA/OPC) ______________________ (Signature)

Officials of the bank/PA/OPC __________________________________________ (full name of the employee(s) of the bank/PA/OPC)

refused to familiarize themselves with the content of the act on opposition to the implementation of the Temporary Administration.

_____________________________________________________________________________ (full name of the Temporary Administrator/representative of the Temporary Administration) (Signature)»;

• Appendix 4 shall be stated in the following wording:

«Appendix 4

PROCEDURES

for the conduct by the Temporary Administrator (its representatives) of certain measures during the Temporary Administration

    - 1. Upon arrival at the bank/PA/OPC, the Temporary Administrator removes the balances of funds in the cash desk and vault and draws up an act in 3 (three) copies.

    - 2. Upon arrival at the bank/PO/OPS, the Temporary Administrator shall seal the vault and cash desk of the bank/PO/OPS, all safes, fireproof cabinets and cabinets that are locked with a key.

    - 3. Upon arrival at the bank/PO/OPS, the Temporary Administrator shall seal all documentation of the bank/PO/OPS, including the archive.

    - 4. Upon arrival at the bank/PO/OPS, the Temporary Administrator shall issue the following orders:

      - 1) on the suspension of the activities of the Board of Directors and the Management Board (executive body) of the bank/PO/OPS and the transfer of their powers to the Temporary Administration;

      - 2) on the regime for making payments;

      - 3) on granting the Temporary Administrator the right of signature on all documentation emanating from the bank/PO/OPS;

      - 4) on the prohibition and personal liability for all employees of the bank/PO/OPS to perform any actions of a material nature without the written permission of the Temporary Administrator.

    - 5. In order to ensure the safety of property, material valuables and documentation located in the bank/PO/OPS, the Temporary Administrator shall issue an order notifying the security service of the bank/PO/OPS of the prohibition on removing property and documents from the bank/PO/OPS without the written permission of the Temporary Administrator, as well as an order restricting the admission of persons during non-receiving hours.

    - 6. The Temporary Administrator shall issue an order on the administrative and material liability of all employees of the bank/PO/OPS for the safety of property, material valuables, documentation and other valuables.

    - 7. The Temporary Administrator shall issue an order on the creation of a commission at the bank/PO/OPS, which is responsible for sealing the building of the bank/PO/OPS accordingly, at the end of the working day. The commission includes the Temporary Administrator (representatives of the Temporary Administrator and/or members of the Temporary Administration) and employees of the bank/PO/OPS.

    - 8. The Temporary Administrator must personally warn each employee of the bank/PO/OPS of possible dismissal in accordance with the current labor legislation.

    - 9. The Temporary Administrator of the bank is obliged to apply to the National Bank with a request for the National Bank's security service to update keys, safe keys, passwords, electronic keys that are used to create a digital signature in electronic documents and for access to automated systems.

    - 10. If necessary, the Temporary Administrator has the right to apply to the National Bank with a request to use technical means belonging to the National Bank.

    - 11. During the inventory and audit carried out at the bank/PO/OPS, in accordance with the requirements of paragraph 119 of this Regulation, the Temporary Administrator has the right to be guided by the procedure for conducting and processing the results of the inventory that is used at the National Bank.»;

• paragraph 2 of Appendix 5 shall be amended to read as follows:

«2. The liability limit, risks subject to insurance, are determined by the National Bank depending on the size of the bank/PO/OPS, the scale of operations of the bank/PO/OPS, the branch network, the staffing level of the bank/PO/OPS, the degree of importance of the payment system and other factors.»;

• in Appendix 7:

paragraph 2 shall be amended to read as follows:

«2. Indicate the position for which your candidacy is proposed:

---

(position, name of the bank/PO/OPS)»;

paragraph 8 shall be amended to read as follows:

«8. Information on the candidate's knowledge in the field of:

• banking and payment legislation _____________;

• management of banking risks, incl. risks in the payment system ________________________________;

• regulatory legal acts of the National Bank __________.».