Feedback

Text of Zelensky’s law on deoligarchization is published

Source : 112 Ukraine

The document becomes void in 10 years since it came into force
11:52, 3 June 2021

President's press service

The text of bill #5599 of President of Ukraine Volodymyr Zelensky on deoligarchization is published on the website of the Verkhovna Rada of Ukraine.

“The draft law provides the amendment, particularly, of the laws of Ukraine On the Council of the National Security and Defense Council of Ukraine, On the Cabinet of Ministers of Ukraine, On Central bodies of the executive power, On the National Anti-Corruption Bureau of Ukraine, On prevention of corruption, On prosecutor’s office, On privatization of the state and utility property, On political parties in Ukraine to create the register of people who have significant economic or political capital in the social life (oligarchs), determination of the order of putting of persons on the register and consequences of such putting, the introduction of a declaration by officials of contacts with people included on the mentioned register,” the explanatory note says.

It is known that this law, in case of adoption, comes into force the next day after its publication, and it will act for six months. However, it becomes void in 10 years since it came into force.

The document mentions new terms: beneficial owner, mass media and electronic mass media, oligarch – a person having significant economic or political capital in the social life.

A person is recognized as an oligarch and put on the register of people who have significant economic or political capital in the social life (oligarchs) on the decision of the National Security and Defense Council of Ukraine.

To be recognized as an oligarch, a person should meet three out of four criteria:

  • participate in the political life;
  • have a significant influence on mass media;
  • be an ultimate beneficial owner of the monopoly;
  • have confirmed the price of assets that exceeds a million of the minimum wage (2 billion 270 million hryvnias or $83.29 million).

The influence on mass media means being a beneficial owner and/or controller of mass media. Or if a person sells such media to a person who does not have “an impeccable business reputation” after the adoption of the law and it's coming into force.

After this, the official website of the National Security and Defense Council of Ukraine provides open 24/7 access to the register with the possibility of view, copy, and printing of the information, as well as in the form of the set of data (electronic document) organized in the form that allows automatic procession by electronic means for repeated use.

People who put in the register of oligarchs are banned:

  • to pay contributions (directly or indirectly through other people) to support political parties in accordance with the Law of Ukraine On political parties in Ukraine;
  • to be a purchaser (beneficiary of a purchaser) in the process of privatization of objects of big privatization.

In case of contact of an official with a person put in the register or his representative, an official has to declare the contacts.

The decision on the exclusion from the register is made in case of the establishment of the fact of absence of at least two criteria provided by the law.

The sign of the significant influence on mass media is not considered absent in case if the status of the beneficial owner (controller) of a proper mass media was handed from a person included in the register to the person tied with him/her or a person who does not have “an impeccable business reputation”.

 

Topics:
Система Orphus

If you find an error, highlight the desired text and press Ctrl + Enter, to tell about it

Comments
see more