25.06.19
11:40

The Central Securities Depository informs about cancellation of acceptance of Letters of Guarantee on payment for the Central Securities Depository's services by the third parties from July 01, 2019

Central Securities Depository JSC (the Central Securities Depository) informs about cancellation of acceptance of the Letters of Guarantee on payment for services, rendered to the Central Securities Depository’s clients, by the third parties from July 01, 2019. In addition, this resolution cancels the validity of the Letters of Guarantee provided early from July 01, 2019.

In accordance with Clause 2, Article 4 of the Regulation on Tariffs and Fees the Central Securities Depository applies the following payment methods for its tariffs and fees by their payers:

1) preliminary payment method;

2) subsequent payment method.

In addition, Clause 3 of this Article stipulated that when using the preliminary payment method for tariff (fee) the Central Securities Depository’s service shall be paid before its rendering. According to Clause 5 of Article 4 the Central Securities Depository applies the subsequent payment method for tariff and/or fee, only in case, when the payer of such tariff and/or fee is an issuer, Management Company or partnership company (including as a securities holder or participant of other partnership company). In all other cases, the Central Securities Depository applies the preliminary payment method for tariff and/or fee.