Business news from Ukraine

Business news from Ukraine

RADA ELIMINATES INCONSISTENCIES IN DE-OLIGARCHIZATION LAW

3 November , 2021  

The Verkhovna Rada has eliminated inconsistencies in the text of the adopted law on de-oligarchization (bill No. 5599).
Thus, the majority of deputies at the plenary session on Wednesday supported the elimination of inconsistencies in Articles 5, 7 and Article 9 of the law.
According to the proposals published in the comparative table on the website of the parliament and for which the deputies voted, the body that makes the decision on recognizing a person as an oligarch is the National Security and Defense Council of Ukraine (NSDC). At the same time, the NSDC is also authorized to exclude a person from the relevant register.
In addition, the Rada supported the proposal of first Deputy Speaker Oleksandr Korniyenko that the bill should be signed by chairman of the Verkhovna Rada Ruslan Stefanchuk.
As reported, on September 23 the parliament adopted at the second reading the presidential bill on prevention of threats to national security associated with the excessive influence of persons who have significant economic or political weight in public life (oligarchs) (No. 5599).
Later, the Verkhovna Rada Committee on National Security, Defense and Intelligence appealed to the speaker with a request to re-vote the law on oligarchs No. 5599, adopted on September 23, in connection with a legal conflict that arose. As head of the Holos faction, Yaroslav Zhelezniak, explained, deputies simultaneously took into account three amendments (396, 398, 406), which contradict one another.
According to the 398th amendment, the decision on recognizing a person with significant economic or political weight in public life is made by the head of the National Agency for the Prevention of Corruption (NAPC) after the appeal of the Commission on Counteracting the Excessive Influence of Persons with significant economic or political weight in public life.
At the same time, in the 406th amendment, the decision on recognizing a person as an oligarch is made by the National Security and Defense Council of Ukraine on the basis of a submission from the Cabinet of Ministers, a member of the NSDC, the National Bank, the Security Service or the Antimonopoly Committee.
The electronic minutes state that amendments 396 and 398 were not separately voted on for their support.
Deputy Speaker of Parliament Ruslan Stefanchuk, presiding over the plenary session on Thursday, when voting on amendment 406, did not name amendments 396 and 398 as automatically rejected.
Bill No. 5599 was considered at the second reading according to a special procedure and only 13 amendments were made, approved by the relevant committee (on national security issues). All other amendments were considered automatically rejected, which was reported by Stefanchuk every time a vote was taken.