TRADE WITH COMPENSATORY NOTES TO BE LIMITED

Business | August 5, 2001, Sunday // 00:00

A single register of compensatory notes and vouchers is planned to be set up with the Central Depository. The new government needs it in order to settle the problem with these instruments by collecting information about the amount and owners of compensatory papers thus uncovering the cases of malfeasance and preventing new such cases. According to knowledgeable sources, this cannot be done during trade so the instruments will have to be suspended for some time. For compensatory notes the term will be one week, for compensatory vouchers more than 45 days. At any rate, before any such steps are made, statutory amendments will have to be made. The National Assembly will resume work on September 1 and by that time the amendments to the statutory acts can be prepared. The two types of papers may be replaced by one compensatory instrument.

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