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20.12.2013

Regulation on authorization of certain foreign exchange operations by the National Bank of Moldova, approved by the DCA of the NBM no.51 of March 5, 2009

Note: The translation is unofficial, for information purpose only

 

Official Monitor of the Republic of Moldova no.57-58 of 20.03.2009, Art.251

Registered
at Ministry of Justice
of the Republic of Moldova
no. 665 of March 16, 2009

COUNCIL OF ADMINISTRATION
OF THE NATIONAL BANK OF MOLDOVA

 

DECISION no.51
of March 5, 2009

On the approval of the Regulation
on authorization of certain foreign exchange operations by the National Bank of Moldova

Pursuant to Articles 11 and 51 of the Law no.548-XIII of July 21, 1995 on the National Bank of Moldova (Official Monitor of the Republic of Moldova, 1995, no.56-57, Art.624), with further amendments and completions, the provisions of the Law no.62-XVI of March 21, 2008 on foreign exchange regulation (Official Monitor of the Republic of Moldova, 2008, no.127-130, Art.496), the Council of Administration of the National Bank of Moldova

DECIDES:

I. To approve the Regulation on authorization of certain foreign exchange operations by the National Bank of Moldova (see attached).

II. To abrogate the Instruction on performing the capital transfer in form of investments, approved by the Decision of the Council of Administration of the National Bank of Moldova no.186 of July 29, 2004 (Official Monitor of the Republic of Moldova, 2004, no.138-146, Art.285), with further modifications and completions.

III. The Instruction on transfer from the Republic of Moldova of funds by certain categories of individuals, approved by the Decision of the Council of Administration of the National Bank of Moldova no.184 of July13, 2006 (Official Monitor of the Republic of Moldova, 2006, no.116-119, Art.426), with further modifications and completions, shall be modified as follows:
1. Sub-item b) from item 1.2 shall be excluded.
2. Chapter III shall be excluded.
3. In Attachment no.1 to the Instruction:
1) section I:
a) from the name of the section, the wording “/ the National Bank of Moldova” shall be excluded;
b) items 1, 2 and 6 shall be excluded;
c) from item 7, the wording “/ obtaining the authorization of the National Bank of Moldova” shall be excluded;
2) section II:
a) in the name of the section, the wording „to items 1-7 of” shall be replaced with the word „in”;
b) item 1 shall have the following wording:
„1. The document referred to in item 5 shall be submitted and kept at the licensed bank in original.”
c) in item 2:
- in the first sentence, the wording “2-4 and 6-7” shall be replaced with the wording“3, 4 and 7” and the wording “/ the National Bank of Moldova” shall be excluded;
- from the second sentence, the wording “/ the National Bank of Moldova” shall be excluded;
- from the third sentence, the wording “, 6” and “/ the National Bank of Moldova” shall be excluded.
4. Attachment no.2 to the Instruction shall be excluded.

IV. Residents, who have submitted to the National Bank of Moldova the applications for obtaining the authorizations to perform foreign exchange operations regulated by the regulation referred to in item I of this decision and on the date of the entry into force of this decision have not obtained the respective authorizations of the National Bank of Moldova, shall be obliged to comply with the provisions of the mentioned regulation.

V. The valid authorizations, issued to the residents by the National Bank of Moldova, until the entry into force of the Law no. 62-XVI of March 21, 2008 on foreign exchange regulation (Official Monitor of the Republic of Moldova, 2008, no.127-130, art.496), according to the instructions referred to in items II and III of this decision, as well as individually on the basis of the Regulation on foreign exchange regulations on the territory of the Republic of Moldova, approved by the Decision of the Council of Administration of the National Bank of Moldova of January 13, 1994, minutes no.2 (republished in the Official Monitor of the Republic of Moldova, 2003, no.56-58, Art.75), with further amendments and completions, for foreign exchange operations which performing, under the given law, does not require authorization shall become invalid on the date of the entry into force of the mentioned law.

VI. Residents, who hold valid authorizations issued by the National Bank of Moldova, until the entry into force of the Law no. 62-XVI of March 21, 2008 on foreign exchange regulation (Official Monitor of the Republic of Moldova, 2008, no.127-130, Art.496), according to the instructions referred to in items II and III of this decision, as well as individually on the basis of the Regulation on foreign exchange regulations on the territory of the Republic of Moldova, approved by Decision of the Council of Administration of the National Bank of Moldova of January 13, 1994, minutes no.2 (republished in the Official Monitor of the Republic of Moldova, 2003, no.56-58, Art.75), with further amendments and completions, shall submit to the National Bank of Moldova the reports in accordance with the regulation referred to in item I of this decision, starting with the reporting month when the decision shall become effective.

Chairman
of the Council of Administration

Leonid TALMACI

 

Attachment
to the Decision of the Council of Administration
of the National Bank of Moldova
no.51 of March 5, 2009

Regulation
on authorization of certain foreign exchange operations

by the National Bank of Moldova

Amendeded by:

DCA of the NBM no. 9 of January 28, 2010; Official Monitor of the Republic of Moldova no. 41-43 of 26.03.2010, Art.178;
DCA of the NBM no. 201 of October 17, 2013; Official Monitor of the Republic of Moldova no. 297-303 of 20.12.2013, Art.1875.

 

(Preamble excluded by the Decision of the NBM no.201 of 17.10.2013)

 

Chapter I. General provisions

1. This Regulation shall use notions defined in the Law no.62-XVI of March 21, 2008 on foreign exchange regulation (Official Monitor of the Republic of Moldova, 2008, no.127-130, Art.496), hereinafter – the Law no.62-XVI of 21.03.2008. Also, for the purpose of this Regulation the following notions shall be used:
a) authorization for performing foreign exchange operation (the NBM authorization) – an official document, issued by the National Bank of Moldova, which allows its holder to perform the respective foreign exchange operation;
b) resident individuals - individuals specified under item a) paragraph 9) Art.3 of the Law no.62-XVI of 21.03.2008;
с) non-resident individuals - individuals specified under item a) paragraph 10) Art.3 of the Law no.62-XVI of 21.03.2008;
d) resident individuals practicing a certain type of activity - individuals specified under item b) paragraph 9) Art.3 of the Law no.62-XVI of 21.03.2008;
e) resident legal entities residents specified under items c)-g) paragraph 9) Art.3 of the Law No.62-XVI of 21.03.2008;
f) non-resident legal entities non-residents specified under items b)-g) paragraph 10) Art.3 of the Law no.62-XVI of 21.03.2008;
g) applicant resident individual, resident individual practicing a certain type of activity or resident legal entity intending to perform a foreign exchange operation subject to authorization and to this end submitting to the National Bank of Moldova (personally or through a representative) the application for obtaining the authorization for performing the foreign exchange operation and documents related to the foreign exchange operation for which the NBM authorization is requested;
h) legal undertaking from abroad – an enterprise or organization (with or without legal entity status), their branches, established under the legislation of the foreign state, as well as any individual practicing a certain type of activity under the legislation of the foreign state.
The notions „account” and „resident payment service providers (RPS providers)” have the same meaning as defined by the Regulation on conditions and procedures of performing foreign exchange operations, approved by the Decision of the Council of Administration of the National Bank of Moldova no.8 as of January 28, 2010, the Official Monitor of the Republic of Moldova, 2010, no.41-43, Art.177, (hereinafter – the Regulation on conditions and procedures of performing foreign exchange operations).
(item 1 amended by the Decision of the NBM no.201 of 17.10.2013)

2. This Regulation shall establish, as follows:
a) the requirements related to the application for obtaining the authorization for performing the foreign exchange operation, as well as the list of documents which shall be attached to the given application;
b) the procedure for issuance by the National Bank of Moldova of authorizations for performing certain foreign exchange operations;
c) the requirements related to informing on modification of data from the documents attached to the application for obtaining the authorization;
d) the procedure for making payments /transfers within the authorized foreign exchange operations;
e) the procedure for reporting the authorized foreign exchange operations to the National Bank of Moldova.

3. This Regulation shall be applied to residents performing the following foreign exchange operations subject to authorization under the Law no.62-XVI of 21.03.2008:
a) operations with foreign financial instruments in the cases stipulated in paragraphs (6) - (10) Art.9 of the Law no.62-XVI of 21.03.2008;
b) operations related to granting by the resident individual in favor of the non-resident individual/legal entity of a donation in the amount exceeding EUR 1,000 (or their equivalent);
c) operations related to granting by the resident legal entity and by resident individual practicing a certain type of activity in favor of non-resident individual/legal entity of a donation in the amount exceeding EUR 10,000 (or their equivalent);
d) operations related to making, by residents in favor of non-residents, the transfers of funds required for the provision by non-residents of services (not included in Art.13 of the Law no.62-XVI of 21.03.2008) – in cases when the mentioned transfers shall be made until the conclusion of transactions for which realization these funds are destined;
e) operations related to making payments/ transfers from the Republic of Moldova abroad by residents in favor of residents under provisions of paragraph (5) Art.23 of the Law no.62-XVI of 21.03.2008;
f) exchange operations of residents abroad under provisions of Art.38 of the Law no.62-XVI of 21.03.2008.

4. Operations specified in item 3 of this Regulation may be performed only after obtaining from the National Bank of Moldova of the authorization for performing the respective foreign exchange operation.

5. Authorization of foreign exchange operations shall not imply for the National Bank of Moldova any obligations regarding these operations.

51. Making payments /transfers with submission of authorizations issued by the National Bank of Moldova under this Regulation shall not exempt the RPS providers from the compliance with the provisions of the legislation in the field of prevention and combating money laundering and terrorism financing, in the field of provision of payment services and issuance of electronic money, in the field of provision of postal services etc.
(Item 51 amended by the Decision of the NBM no.201 of 17.10.2013)
(Item 51 introduced by the Decision of the NBM no.9 of 28.01.2010)

6. The applicant shall be responsible for the compliance of the foreign exchange operation with the provisions of legislation of the Republic of Moldova.

7. The responsibility for signing the documents (that are compiled and submitted to the National Bank of Moldova by the resident legal entity) by the person empowered by this right according to the incorporation documents of the resident and the legislation of the Republic of Moldova shall bear the respective legal entity.

71. In the event when the applicant intends to obtain the authorization for performing the foreign exchange operation referred to in sub-item e) item 3 of this Regulation, within which the payment /transfer will be made in favor of resident individual who is abroad, the applicant shall bear the responsibility for the fact that the payment /transfer will be made in favor of the given resident individual.
(Item 71 introduced by the Decision of the NBM no.9 of 28.01.2010)

8. The National Bank of Moldova shall keep records of the authorizations issued to residents for performing foreign exchange operations in a special register.

 

Chapter II. The process of authorization
of foreign exchange operations by the National Bank of Moldova

Section 1. The documents necessary to obtain the NBM authorization

9. In order to obtain the authorization for performing foreign exchange operations specified in item 3 of this Regulation, the applicant shall submit to the National Bank of Moldova an application for issuing the authorization according to the requirements specified in Attachment no.1 to this Regulation, to which shall be attached as follows:
a) the documents that identify the applicant (shall not be applied in case of licensed bank and non-bank RPS provider holding the license issued by the National Bank of Moldova);
b) the documents related to the foreign exchange operation for which the NBM authorization is requested.
(Item 9 amended by the Decision of the NBM no.201 of 17.10.2013)

10. The documents that identify the applicant shall be the documents indicated in Attachment no.2 to this Regulation, which shall be submitted as follows:
a) for resident legal entity – the documents specified in items 1-3;
b) for resident individual practicing a certain type of activity – the documents specified in items 4-6;.
c) for residents individual – the document specified in item 6.

11. The documents related to the foreign exchange operation for which the NBM authorization is requested shall be the documents indicated in Attachment no.2 to this Regulation that, depending on the type of foreign exchange operation, shall be submitted as follows:
1) for operations with foreign financial instruments indicated in sub-item a) item 3 of this Regulation, in particular for:
a) the operations related to the purchase of shares or other securities of a participating nature which constitutes less than 10% in the equity or from the number of shares or other securities of a participating nature with voting right of the legal undertaking which is to be established abroad – the documents indicated in items 7, 8 and 16;
b) the operations related to the purchase of shares or other securities of a participating nature which constitutes less than 10% in the equity or from number of shares or other securities of a participating nature with voting right of the legal undertaking existing abroad – the documents indicated in items 8, 9 and 16;
c) the operations related to the purchase of units of nonresident collective investment undertakings – the documents indicated in items 11 and 16;
d) the operations related to the purchase of state securities issued or guaranteed by the governments of foreign states (hereinafter - foreign state securities) – the documents specified in items 10 and 16;
e) the operations related to the purchase of foreign financial instruments, other than those referred to in sub-items a) - d) of this paragraph – the documents indicated in items 11 and 16;
2) for operations, indicated in sub-items b) and c) item 3 of this Regulation, related to the granting of donations by residents in favor of non-residents – the documents indicated in items 12, 151 and 16;
3) for operations, indicated in sub-item d) item 3 of this Regulation, related to making the transfers of fund by residents in favor of non-residents – the documents indicated in items 13 and 16;
4) for operations, indicated in sub-item e) item 3 of this Regulation, related to the making the payments /transfers abroad by residents in favor of residents – the documents indicated in items 14 and 16;
5) for exchange operations abroad of residents, indicated in sub-item f) item 3 of this Regulation – the documents indicated in items 15 and 16.
(Item 11 amended by the Decision of the NBM no.201 of 17.10.2013)
 

Section 2. The examination by the National Bank of Moldova
of the application for issuing the authorization

12. The National Bank of Moldova shall decide on the issuance of the authorization or on the refusal of the authorization issuance within the period of 15 working days following the date the application for issuing the authorization was received.

121. In the event when the applicant is the RPS provider, the application for issuing the authorization and documents attached thereto shall also be examined from the point of view of implication of the RPS provider in excesive risks related to the activity. In this case the National Bank of Moldova may authorise the respective foreign exchange operation if it was determined that following authorization of the foreign exchange operation, for which the NBM authorization is requested, the RPS provider will not be engaged in risky or dubious operations.
(Item 121 amended by the Decision of the NBM no.201 of 17.10.2013)

(Item 121 introduced by the Decision of the NBM no.9 of 28.01.2010)

13. The National Bank of Moldova shall have the right to authorize the foreign exchange operation or to refuse the issuance of the authorization, taking into account the fundamental objective of the National Bank of Moldova stipulated by the Law no.548-XIII of July 21, 1995 on the National Bank of Moldova, the current conditions of the money, credit and foreign exchange market, the situation of the balance of payments of the Republic of Moldova, the provisions of the legislation of the Republic of Moldova.

14. Reasons for the refusal to issue the NBM authorization shall also be, as follows:
a) the failure to submit the full set of documents as in accordance with the provisions of this Regulation;
b) the failure of the submitted documents to comply with the requirements of this Regulation;
c) the application by the National Bank of Moldova to the applicant-RPS provider of remedial measures related to the foreign exchange operation, for which performance the issuance of the authorization is requested;
d) the submission of documents containing unauthentic or contradictory data;
e) the failure of the applicant to meet the conditions of authorization.
(Item 14 amended by the Decision of the NBM no.201 of 17.10.2013)

15. In the event of refusal to issue the authorization for performing foreign exchange operation, the National Bank of Moldova shall inform accordingly the applicant in written form, indicating the reason for refusal.

16. The National Bank of Moldova shall examine the repeated application for issuing the authorization, taking into consideration the reasons for refusal and verifying their removal by the resident (if that depends on the resident).

17. The authorization of foreign exchange operation shall be carried out by issuing the respective authorization by the National Bank of Moldova, on the reverse side of which the text indicated in Attachment no.3 of this Regulation shall be printed for the purpose of making the relevant notes.

18. Unless otherwise is specified in the NBM authorization, it shall be valid until the total amount of funds indicated in the NBM authorization is transferred.

19. The issuance of the NBM authorization shall be performed upon signature in the register mentioned in item 8 of this Regulation.


Section 3. Informing on modification of data contained in the documents
submitted for obtaining the NBM authorization

20. In the event when, after the date of obtaining the NBM authorization, the amendments /completions in the documents submitted by the resident have been occurred and/or new documents which amend the data related to the authorized foreign exchange operation have been signed, the resident shall be obliged within 10 working days following the date of amendments /completions:
a) to submit an application for issuing an amendment to the NBM authorization (according to the form from Attachment no.4 of this Regulation), attaching the original NBM authorization and the respective documents – in case of amendments and/or completions which involve the modification of data in the NBM authorization;
b) to inform in writing the National Bank of Moldova on the made amendments/completions, attaching the relevant documents – in case of amendments /completions of other data.

21. The application for issuing an amendment to the NBM authorization shall be signed by the resident (the person empowered by the resident). In the event when, under the acting legislation, the resident has the stamp, the mentioned signature shall be authenticated by the stamp.

22. In the event of submission of the application for issuing an amendment to the NBM authorization, the provisions of items 12 -16 of this Regulation shall be applied.

23. As a result of acceptance of the amendments and/or completions, the National Bank of Moldova shall issue an amendment to the respective authorization, which shall be an integral part of the NBM authorization.

24. On the reverse side of the NBM authorization, the responsible person of the National Bank of Moldova shall indicate the ordinal number and the date of issuance of the amendment.

25. The issuance of the amendment to the NBM authorization shall be performed upon signature in the register mentioned in item 8 of this Regulation.

 

Chapter III. The procedure of making the payments/transfers
within the authorized foreign exchange operations

Section 1. General provisions

26. This chapter shall regulate the particularities related to making by residents of payments and transfers within the authorized foreign exchange operations referred to in item 3 of this Regulation, in particular the requirements for the NBM authorizations that shall be submitted to the RPS providers and the respective actions of the RPS providers.
(Item 26 amended by the Decision of the NBM no.201 of 17.10.2013)

(Items 27 and 28 excluded by the Decision of the NBM no.201 of 17.10.2013)

29. The payments/transfers regulated by this chapter shall be made in accordance with the respective provisions related to the payments and transfers from the Regulation on conditions and procedures of performing foreign exchange operations, as well as in accordance with the provisions of this chapter.
(Item 29 amended by the Decision of the NBM no.201 of 17.10.2013)

291. In the event when the authorized foreign exchange operations are performed with the use of payment instruments (defined so under the Law no.114 of 18.05.2012) and, depending on the particularity of the used payment instrument or depending on the method of its using, at the time of performing the authorized foreign exchange operation it is not possible to submit the NBM authorization and justifying documents to the RPS provider, the given RPS provider shall apply its internal regulations. In this case the RPS provider shall have evidences that the resident performing the foreign exchange operation holds the respective NBM authorization and that the payment /transfer is performed in accordance with the requirements of the given authorization.
(Item 291 introduced by the Decision of the NBM no.201 of 17.10.2013)

292. Internal regulations referred to in item 291 shall establish actions /terms /procedures / modalities of verification that have to be implemented /executed by the RPS provider and /or by its clients in order to ensure compliance with the provisions of the foreign exchange legislation, including the requirements of the NBM authorization.
(Item 292 introduced by the Decision of the NBM no.201 of 17.10.2013)

 

Section 2. Requirements for the NBM authorizations that are submitted
to RPS providers and the respective actions of RPS providers

(Name of section 2 amended by the Decision of the NBM no.201 of 17.10.2013)

30. The NBM authorizations, on the basis of which the payments/ transfer within the authorized foreign exchange operations are performed, shall be submitted to the RPS provider in original. In the event when the National Bank of Moldova issued amendments to the authorization, these amendments shall be submitted in original along with the NBM authorization.
(Item 30 amended by the Decision of the NBM no.201 of 17.10.2013)

31. The NBM authorization shall be submitted to the RPS provider at the time of making the payment /transfer within the respective foreign exchange operation, except for the case provided for in item 291 of this Regulation.
(Item 31 amended by the Decision of the NBM no.201 of 17.10.2013)

(Item 32 excluded by the Decision of the NBM no.201 of 17.10.2013)

33. In the event when a certain currency (specified in justifying documents) is indicated in the NBM authorization and the payment /transfer is made in another currency, the exchange rate according to the provisions of item 15 of the Regulation on conditions and procedures of performing foreign exchange operations shall be applied for determining the equivalent in another currency.

34. The data from justifying documents related to the authorized foreign exchange operation shall correspond with the data from the NBM authorization (taking into account the amendments thereto, if any). If these data do not correspond, the amendment to the NBM authorization that includes the respective modifications/completions shall be submitted to the RPS provider.
(Item 34 amended by the Decision of the NBM no.201 of 17.10.2013)

(Item 35 excluded by the Decision of the NBM no.201 of 17.10.2013)

36. The original NBM authorization /the original amendment thereto shall be returned to the client. The photocopies of these documents authenticated by the responsible person of the RPS provider shall be kept at the RPS provider according to the internal regulations established by this RPS provider under the legislation of the Republic of Moldova.
(Item 36 amended by the Decision of the NBM no.201 of 17.10.2013)

37. The RPS providers, through which the payments /transfers within the authorized foreign exchange operations are made, shall be obliged to verify as follows:
a) the existence of the number and the date of the NBM authorization in the respective written request;
b) the correspondence of data indicated in the NBM authorization (taking into account the amendments thereto, if any) with the data indicated in the justifying documents related to the authorized foreign exchange operation (taking into account the amending documents, if any);
c) the correspondence of data indicated in the respective written request with the data indicated in the NBM authorization (taking into account the amendments thereto, if any) and in the justifying documents related to the authorized foreign exchange operation (taking into account the amending documents, if any);
d) if the amount indicted in the respective written request does not exceed the amount indicated in the NBM authorization (taking into account the amendments thereto, if any) and in the justifying documents related to the authorized foreign exchange operation (taking into account the amending documents, if any) – in the event when, according to the Regulation on conditions and procedures of performing foreign exchange operations, the justifying document shall contain data on the payment /transfer amount;
e) the existence on the photocopies of the respective documents and correctness of the records, indicated, where appropriate, in item 93, 172, 176 of the Regulation on conditions and procedures of performing foreign exchange operations – in the event when, according to the mentioned Regulation, the photocopies of the justifying documents shall be submitted to the RPS provider.
(Item 37 amended by the Decision of the NBM no.201 of 17.10.2013)

(Item 38 excluded by the Decision of the NBM no.201 of 17.10.2013)

Section 3. Peculiarities of making by RPS providers of payments /transfers
within the authorized foreign exchange operations

(Name of the section 3 amended by the Decision of the NBM no.201 of 17.10.2013)

39. The RPS provider which makes the payment /transfer within its own authorized foreign exchange operation shall have, while making the respective payment /transfer, the original NBM authorization and, where appropriate, the original amendments thereto.
(Item 39 amended by the Decision of the NBM no.201 of 17.10.2013)

40. In case of performing by the RPS provider of its own authorized foreign exchange operation, the provisions of items 33, 34 and sub-items b)-d) item 37 of this Regulation shall be applied accordingly.
(Item 40 amended by the Decision of the NBM no.201 of 17.10.2013)

401. The original NBM authorizations (including the amendments thereto, if any) shall be kept at the RPS provider according to the internal regulations established by this RPS provider under the legislation of the Republic of Moldova.
(Item 401 amended by the Decision of the NBM no.201 of 17.10.2013)

402. In case of performing by the RPS provider of its own authorized foreign exchange operation through the account opened with another RPS provider, the NBM authorization shall be submitted to the RPS provider with which the account is opened. In such case the provisions of items 30-37 of this Regulation shall be applied accordingly.
(Item 401 amended by the Decision of the NBM no.201 of 17.10.2013)

(Chapter III in the wording of the Decision of the NBM no.9 of 28.01.2010)

Chapter IV. Reporting the authorized
foreign exchange operations to the National Bank of Moldova

41. The resident holding the NBM authorization shall be obliged to report to the National Bank of Moldova the authorized foreign exchange operation, by submitting the Report on the performance of authorized foreign exchange operation (hereinafter - Report), compiled according to the form and the procedure of its compiling, as shown in Attachment no.5 of this Regulation.

42. The reports on the authorized foreign exchange operations shall be submitted as follows:
a) if the operations subject to reporting are performed monthly, the Report shall be submitted monthly at the latest on the 15th of the month following the reporting month;
b) if the operations subject to reporting are performed with a frequency more than one month or with an irregular frequency, the Report shall be submitted at the latest on the 15th of the month following the month in which the respective operations were performed.

43. Depending on the specific of the authorized foreign exchange operation and requirements stipulated in the authorization for performing foreign exchange operation, the National Bank of Moldova may also specified in the issued authorization the submission by the resident within the Report of the information which content shall be determined depending on the specific of the authorized foreign exchange operation. The respective information shall be the integral part of the Report.

44. The resident shall be obliged to attach to the Report the photocopies of the following documents that shall remain at the National Bank of Moldova:
a) of the documents (for instance, the payment order) confirming the operations reflected in the standardized part of the given Report;
b) of the bank documents, contracts and /or other documents confirming the data reflected in the information mentioned in item 43 of this Regulation (shall be attached if the submission of this information is specified in the NBM authorization).

45. The correspondence of the photocopies of the documents mentioned in item 44 of this Regulation with their originals shall be authenticated by the resident. For the authentication, the following wording shall be written on the photocopy of the document "I declare on my own responsibility that the photocopy is identical with the original.".
In case of a resident legal entity, the respective wording shall be authenticated by the signature of the administrator (the person authorized by him). In case of a resident individual practicing a certain type of activity and of an individual, the respective wording shall be authenticated by the signature of the respective individual. In the event when, according to the acting legislation, the resident has the stamp, the mentioned signature shall be certified by applying the stamp.

 

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