The Finance Ministry has submitted for public discussion a draft resolution introducing amendments to the procedure for issuing securities. The discussion is taking place on the Legal Forum through June 12.
The draft proposes a number of simplifications to the securities issuance process. Some of the changes relate to the placement of securities outside Belarus.
In particular, the draft provides for the possibility of specifying in issuance documents the procedures and methods for placing securities, determining income, and other issuance terms in accordance with the laws of a foreign state and/or the regulations of a foreign stock exchange where the securities will be placed.
The Finance Ministry believes that this provision is more likely to enable Belarusian issuers to raise funds abroad.
“In addition, this will facilitate the practical use by Belarusian issuers of opportunities provided under existing international agreements (in particular, the Agreement between the Republic of Belarus and the Russian Federation on Securities Prospectuses, and the Agreement on Cross-Border Admission of Securities to Placement and Circulation in Organised Trading in the Member States of the Eurasian Economic Union),” the explanatory note to the draft states.