Business news from Ukraine

NEW RULES OF AIR TRANSPORTATION OF PASSENGERS AND BAGGAGE COME INTO FORCE IN UKRAINE

The State Aviation Service of Ukraine has posted on its website the new rules of air transportation of passengers and baggage that have come into force.
The document, in particular, does not contain the norm on the mandatory free baggage allowance of a certain weight (previously 15 kg).
According to the new edition of the rules, information on the maximum amount and weight of baggage, accepted by the air carrier for transportation without payment, is specified in the rules of the air carrier and the contract of carriage provided to the passenger.
The State Aviation Service also legalized the new rules for charging fee for registration at the airport.
“Check-in at the airport is free of charge if it is provided for by the rules for applying the fare according to which the ticket was purchased and also if registration cannot be done via the airline’s website or using the self-service kiosk. Otherwise, the air carrier may charge an additional fee for check-in at the airport,” according to the rules.
The deadlines for check-in and boarding have also changed: now airlines can close check-in counters no earlier than 45 minutes before departure, and boarding gates no earlier than 15 minutes before departure (earlier 40 and 10 minutes respectively).

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NATIONAL BANK INTRODUCES NEW RULES OF RISK MANAGEMENT SYSTEM

The National Bank of Ukraine (NBU) has changed the form of a report on risk management in the financial monitoring sphere, which would allow better assessing the risk management systems created by banks. According to a report on the NBU’s website, the new form of the report is outlined in NBU resolution No. 59 dated June 5, 2018, which amends the rules of organizing and holding inspections to prevent and combat money laundering, financing of terrorism, and the financing of proliferation of weapons of mass destruction approved by NBU resolution No. 197 dated June 20, 2011.
The new version of the resolution also changed the frequency of submitting the reports on risk management in the field of financial monitoring – henceforth it will be provided by a bank to the NBU annually, rather than quarterly.
In addition, the NBU introduced a new procedure in case of detection of schemes for conducting risky financial transactions during the on-site inspection, the conclusion on compliance or non-compliance of which with the requirements of the law cannot be presented in the report on the field inspection (without additional consultations). Henceforth, the report would contain details of the essence of the financial transactions revealed with a detailed statement of the relevant facts. The copies of documents certifying these facts are attached to the verification materials.
In the future, the verification of the revealed facts will be continued without interruption.

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