Poroshenko signs law for investments attraction by securities issuers

Source : 112 Ukraine

This law also simplifies the doing business
19:41, 3 January 2018

Press Service of the President of Ukraine

Petro Poroshenko, the President of Ukraine signed a law ‘On amendments to some legislative acts of Ukraine towards simplifying of doing business and attraction of the investments by the securities issuers, that aims to simplify the doing business and attraction of the investments as the press service of the presidential administration reported.

‘The law solves the issue of the assignment of the joint-stock companies in Ukraine in the public and private according to the formal matters, to correct unbalance in the legislation and implement the European principles in the issue of the determination and regulation of the public companies’, the message said.

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According to the information, the law changes the attitude to the determination of the joint-stock companies as the public or private and offers to refuse from the recording of the type in the name of the company.

Moreover, the law excludes the demand that the banks can be not only in the form of the public joint-stock companies and the banks are demanded to open the information, as well as the heightened requirements, are set for the corporate governance, particularly, for the forming of the supervisory board and its committees.

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The volume of the information and methods of its disclosure for the public joint-stock companies and the banks are extended. At the same time, the obligation to publish the information in the official edition is removed.

The document also provides the decrease of the volume of the disclosure of the information for the private joint-stock companies and implements the possibility to provide the information services at the fund market by the private persons and only by the National Commission on the securities and fund market. It also toughens the demands of the transparency of the activity of the supervisory board of the joint-stock company and extends its authorities.

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