The State Securities Committee approved the Rules for payment of notarized contracts on securities transactions and registration of documents in the depository system.
Transactions on purchase and sale of securities carried out before. Practice shows that the operations on purchase and sale of controlling stakes made on the OTC platform by notaries in order to prevent the appearance of this information to the public.
Under current from January 27th to the rules, the exchange of documents between the depository system (National Depository Center) and notary bodies will be produced in real time by means of the electronic system "Electronic Notary" the Ministry of Justice.
In contrast to previous practice, the amount of the transaction between the parties buying and selling of securities will be credited to a bank deposit account notary. One of the participants in such operations, said Turan, that before the auction was carried out in cash. Payment NDC services also performed in the comfort of their notary.
Upon completion of the documentation, the notary provides them to NDC, where the Central Bank issued on the name of the buyer. 08B
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