The Regulations on the termination of non-state pension funds, approved by Resolution No. 875 of the National Securities and Stock Market Commission dated 09 August 2023, registered with the Ministry of Justice of Ukraine on October 16, 2023 under No. 1802/40858 (the “Regulations”) define the specifics of the procedure for terminating a non-state pension fund as a legal entity through its liquidation or reorganization, namely, by joining another pension fund or merging with another pension fund(s), the sequence of actions and organizational measures that must be taken to prepare for and carry out the termination of a pension fund.
Paragraph 7 of Title IV of the Regulations stipulates that the Termination Commission, after the state registration authority has entered information about the commencement of the procedure for terminating the pension fund by merger into the Unified State Register and received an extract from the Unified State Register, shall:
1) within 3 business days, submit to the NSSMC a notification of the commencement of the procedure for termination of the pension fund by merger, together with the following documents:
a description (list) of documents, indicating the number of pages in each of the documents submitted;
a copy of the decision of the Authorized body of the pension fund that is terminated by merger, adopted in accordance with Paragraph 4 of this Title (not submitted if an NSSMC Resolution was adopted on this matter);
a letter/copy of a letter from an authorized representative of the founder(s) of the pension fund — legal successor, notifying of consent to join, or a copy of the decision on consent to join;
questionnaires for private persons who are members of the termination commission (Annex 2);
an extract from the Unified State Register on the commencement of the procedure for terminating the pension fund by merger, or information on the access code to the results of administrative services in state registration, which provides access to the specified extract in electronic form in the Unified State Register.
Within three business days of receiving notification of the commencement of the procedure for terminating a pension fund through merger, the NSSMC will publish information about the commencement of the termination procedure on its official website.