The President of Ukraine signed the law which changed the rules of privatization in Ukraine.
President of Ukraine Petro Poroshenko has signed the law (№1005-VIII) “On amendments to some laws of Ukraine concerning improvement of the privatization process” adopted by the Verkhovna Rada on February 16, the press service of the head of state.
This law improves the provisions of the law “On privatization of state property” in order to achieve transparency and openness of the privatization process, strengthen the protection of national interests in the process of reforming property relations.
In particular, it is prohibited to participate in the privatization of companies and individuals who are registered in the states recognized by the Verkhovna Rada of the aggressor state or which are subject to sanctions as well as legal entities, the owners of which are the residents of the aggressor State.
“It is also envisaged the possibility of involvement by the government’s decision to prepare for the privatization and the sale of strategic enterprises advisers in the manner prescribed by the Cabinet of Ministers of Ukraine, which will facilitate the privatization procedures in accordance with international standards”, – the report says.
In addition, the law “On privatization of state property” excludes rules regarding the mandatory offer for sale on the stock exchange of shares of joint stock companies in the amount of 5-10% of the share capital for the competition. “This will give the opportunity to prevent the fragmentation of shareholdings, and will accelerate the process of privatization,” – said in a statement.
The law comes into force on the day following publication. For its implementation meets the State Property Fund of Ukraine.
