OREANDA-NEWS. On 03 September 2008 was announced, that the State Committee for Securities and Stock Market (SCSSM) made public its draft regulation on procedure for transfer of the registered securities holders registers check copies to the National Depository of Ukraine (NDU) for safe custody.

Pursuant to this document, the NDU may not use this copy for its own purposes. The SCSSM will not be able to open it as well. Only using the key of the SCSSM the file kept by the NDU can be opened. These check copies will be used if the register is lost and to confirm the ownership rights.

A register holder will have to transfer the register check copy to the NDU on a monthly basis, as well as if it obtains the copy from another register holder. The copy must be encrypted by two open keys of the NDU and SCSSM. Only the confidential part of the file containing information about holders of less than 10% stake will be encrypted by the keys. The remaining information, including about the owners of more than 10% stakes will be left unprotected. The check copy may be used only if the register is lost or cannot be recovered.