Business news from Ukraine

STATE-RUN UKRENERGO ON APRIL 1 STARTS REGISTRATION OF ELECTRICITY MARKET PLAYERS

National energy company Ukrenergo on April 1, 2019 started accepting documents to register electricity market players, the company has said.
Ukrenergo recalled that the registration is a mandatory condition for operation on the electricity market from July 1, 2019, as well as for testing the subsystem accepting and processing timetables of market players and the function of the payment administrator.
The form of the application for the registration that is to be sent to Ukrenergo in paper and guidelines are posted on the company’s website (https://u.to/aZkCFQ). The company also created a call center for consultations, phone (044) 238 37 00.
As reported, in July 2019 in Ukraine, the launch of a new model of the wholesale electricity market is scheduled pursuant to the law on the electricity market passed in April 2017. It is planned to move from work on the “single buyer” model to a competitive mechanism providing for bilateral contracts between producers and large consumers, suppliers, the introduction of the balancing market, the day-ahead market and the intraday market.

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CABINET OF MINISTERS IMPROVES MEDICINE REGISTRATION RULES

The Cabinet of Ministers on Wednesday amended resolution No. 374 dated May 26, 2005 on the approval of the rules of the public registration of medicines.
According to the document posted on the government’s website, the government improved the rules of the public registration or re-registration of medicines, in particular, the rules of providing access to the results of their clinical trials and obliged the Health Ministry to publish all the results of the nonclinical and clinical trials for medicines.
In addition, the government extended the registration certificates of medicines to be procured by international organizations using national budget funds, and canceled the mandatory provision of a GMP document for re-registration.
These changes will ensure free access to information on the medicine and eliminate the risks associated with disruptions in medicine supplies due to the delay of the public registration caused by the updating of the GMP certificates.

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NATIONAL BANK DEVELOPS RECOMMENDATIONS FOR RELAXING REGISTRATION OF INTL PAYMENT SYSTEMS OF NONRESIDENTS

The National Bank of Ukraine (NBU) has drawn up recommendations for submission of document with the purpose of agreeing on conditions and the rules of operation of an international payment system, the payment organization of which is nonresident, in the country, the central bank has reported on its website.
“This document is intended to support partnership relations with payment market players and simplify the process of preparing documents that, in accordance with the law, are sent to the National Bank of Ukraine for registration of an international nonresident payment system,” the NBU said.
The recommendations include the procedure for issuing and submitting documents to the NBU, a description of the provisions that should contain the documents, as well as a list of Ukrainian legislative acts and documents of international organizations that should be used to submit documents to agree on the terms and conditions of the international payment system.
Payment organizations of international payment systems have the right to carry out activities in Ukraine only after their registration by entering information about them into the register of payment systems, settlement systems, participants in these systems and payment infrastructure service operators, which is kept by the NBU.
The NBU enters information into the register on the international payment system, the payment organization of which is a nonresident, after agreeing the conditions and the order of the activity of this payment system in Ukraine.
Currently, the register contains information on 10 international nonresident payment systems, of which three are international card payment systems and seven are international money transfer systems.

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