Law on individuals’ bank deposits guarantees amended

The Law of 10 January 2015 No 240-Z has amended the Law of the Republic of Belarus “On guaranteed reimbursement of bank deposits of natural persons” of 8 July 2008. The adopted amendments concern the procedure and timetable under which individuals may present their claims for reimbursement of deposits when their bank would be unable to fulfill its obligations on repayment of deposits.

The Law No 240-Z was officially published on the National Legal Internet Portal of the Republic of Belarus on 15 January 2015, and its main provisions enter into force in three months after its official publication.