Russian-Ukrainian
Legal Group, P.A.
Chronicle
of Recent Developments in Ukrainian Legislation
JUNE - JULY 2006
Customs Oil and Gas Financial Services Securities Specific Sectors of
Economy/Miscellaneous |
The “Chronicle of Recent
Developments in Ukrainian Legislation” is a monthly summary of the most
important legislative developments in
1) State
Customs Service (“Customs Service”) of Ukraine Order No. 514 “On
Approving the Procedure for Filing Documents Evidencing Entrepreneurs’ Right to
Tax Privileges, Established by Law, During Customs Clearance of Goods Imported
into or Exported out of the Customs Territory of Ukraine” dated 22 June 2006.
The approved Procedure replaces a 1999 Procedure of the same name. The Order
will take effect on
2) Customs
Service Order No. 551 “On Approving the Procedure for Filing and Using the
Customs Service Preliminary Notification of Intention to Import Goods into the
Customs Territory of Ukraine and On Amending State Customs Service of Ukraine
Order dated 12 December 2005 No. 1220” dated 3 July 2006. Notification of
an intention to import goods into
3) Cabinet
of Ministers of Ukraine (“Cabinet of Ministers”) Resolution No. 859 “On Amending Clause 3 of the
Procedure for Calculating and Paying to the State Budget the Rent for
Transportation of Oil and Oil Products through Oil and Product Pipelines, and
for Transit Transportation of Natural Gas and Ammonia through Pipelines in the
Territory of Ukraine” dated 24 June 2006. According to the amendment introduced to the
Procedure, the rent for transportation of oil and oil products shall be
calculated by the payer as the product of the rent amount, established by the
Law on the State Budget, and the volume of the transported oil or oil products,
and for transit transportation of natural gas and ammonia – as the product of
the rent, the volume of natural gas or ammonia, and the length of the
transportation route. The Resolution took effect on
4) State
Committee on Financial Monitoring of Ukraine (“Financial Monitoring
Committee”) Order No. 84 “On Approving the Procedure for Notifying Subjects
of Primary Financial Monitoring of the List of Persons Connected with Terrorist
Activity” dated 26 April 2006. Pursuant to the approved Procedure, the list
of persons connected with terrorist activity or amendments thereto shall be
posted on the Financial Monitoring Committee's official website within three
days after receiving the corresponding information; subjects of primary
financial monitoring shall be notified by e-mail about persons included in the
list. The Order took effect on
5) Cabinet of Ministers Resolution No.
802 “On Establishing the Validity of Licenses for Performing Certain Types of
Activity on the Securities Market and Agreeing on Amounts of Fees for their
Issuance” dated 7 June 2006. Depending on the type of activity, a license
can be issued for either five or 10 years. The Resolution also approved
Decision No. 329, which is discussed below in clause 6 of this Chronicle. The
Resolution took effect on
6) State
Committee of Ukraine for Securities and Capital Markets (“Securities Committee”) Decision No.
329 ”On Establishing the Amount of the Fee for Issuing Licenses for Certain
Types of Activity on the Securities Market” dated 12 May 2006. The fee for
issuing licenses for performing activity on the securities market depends on
the type of activity and is established in amounts ranging from 1700 UAH to
10,000 UAH. The Decision took effect on
7) Securities
Committee Decision No. 234 “On Establishing Regulations on the Procedure for
Registering the Issuance of Straight Mortgage Bonds, Offering Circulars,
Reporting on the Results of Mortgage Bonds Issuance, and Redeeming and
Canceling Registration of Mortgage Bonds Issuance” dated 11 April 2006.
According to the approved Regulation, an issuer shall be entitled to issue
mortgage bonds after such issuance has been registered with the Securities
Committee. For this purpose it is
necessary to file an application and a package of documents, defined by the
Regulation. Registration shall be effected within 30
calendar days. The Decision took effect on
8) Securities
Committee Decision No. 324 “On Disclosing Information about a General Meeting
in the General Notice of the Stock Company” dated
9) Securities
Committee Decision No. 381 “On Invalidating Decision No. 138 of the State
Committee of Ukraine for Securities and Capital Markets dated 20 April 2001 'On
Approving Regulations on Recording Non-Residents’ Ownership Rights to
Securities of Ukrainian Issuers'” dated 14 June 2006. The Regulations have
been voided. The Regulations previously set requirements for the procedure for
recording non-residents’ ownership rights to securities of Ukrainian issuers,
which have been serviced in the National Depositary System on the basis of a
decision by the Securities Committee. The Decision took effect on
10) State
Committee of Ukraine for Regulatory Policy and Entrepreneurship (“Entrepreneurship
Committee”) Order No. 56 “On Recognizing State Committee of Ukraine for
Regulatory Policy and Entrepreneurship Orders Concerning Licensing Conditions
for Professional Activity on the Securities Market Void”; Securities Committee
Decision No. 433 “On Recognizing State Committee of Ukraine for Securities and
Capital Market Decisions Concerning Licensing Conditions of Professional
Activity on the Securities Market Void” dated 23 June 2006. The licensing
conditions for performing professional activity on the securities market,
approved by a joint document authored by the Entrepreneurship Committee and the
Securities Committee, are now void. The authorized state bodies are working on
preparing new Licensing conditions. The approved Order and Decision
took effect on
11) Securities
Committee Decision No. 444 “On Approving the Procedure for Running the State
Register of Authorized Rating Agencies and Issuing Certificates of Entry into
the State Register of Authorized Rating Agencies” dated 26 June 2006.
Pursuant to the approved Procedure, a rating agency is a legal entity that
provides professional services on the securities market and that specializes in
assigning credit ratings as well as providing research and information services
connected with the implementation of the above-said activity. A rating agency
receives the right to assign ratings, the necessity of which is defined by law,
after receiving a Certificate on Entry into the State Register of Authorized
Rating Agencies. The Decision took effect on
Specific
Sectors of Economy/Miscellaneous
12) Cabinet
of Ministers Resolution No. 908 “On Approving the Procedure for State
Registration (Re-registration) of Disinfectants” dated
13) Ministry
of Health of
14) Ministry
of Industrial Policy of