Politics 2022-09-15T04:48:35+03:00
Ukrainian news
Rada Decides To Include In Register Of Oligarchs Participants In Political Life With Influence On Media, Owner

Rada Decides To Include In Register Of Oligarchs Participants In Political Life With Influence On Media, Ownership Of Monopoly In Market And Assets Of 1 Million Subsistence Minimums

Rada, Verkhovna Rada, oligarchs, law on oligarchs

The Verkhovna Rada decided to determine oligarchs who simultaneously meet three of the four criteria: they are participants in political life, have significant influence on the media, have a monopoly on the state market and maintain or strengthen this situation during the year, the value of assets exceeds 1 million subsistence minimums.

A total of 279 MPs voted for the adoption of bill No. 5599, with the minimum required 226, Ukrainian News Agency reports.

So, a person who has significant economic and political weight in public life (oligarch), in this law, is an individual who simultaneously meets at least three of four characteristics:

1) participates in political life;
2) has a significant impact on the media;
3) is the ultimate beneficial owner of an enterprise that, after the date of entry into force of this law, is a subject of natural monopolies or holds a monopoly (dominant) position in the market and maintains or strengthens such position for 1 year in a row;
4) has a confirmed value of assets of the person and business entities, the beneficiary of which it is, in excess of 1 million subsistence minimums established for able-bodied persons as of January 1 of the corresponding year (at the moment this amount is UAH 2.27 billion).
The calculation of the value of such assets is carried out in aggregate according to the size of the assets of the person and business entities, the beneficiary of which it is.
When calculating the value of such assets, assets owned by a person in the media are not taken into account.
Participation in political life is understood as:
- holding the office of President, head of parliament or government, its members, prosecutor general, chairperson of the Security Service of Ukraine, National Bank of Ukraine;
- close relationship with one of the abovementioned persons or persons related to him;
- taking up a position in the governing bodies of the party and financing the activities of political parties.
Significant influence on the media means that the person is:
- its owner or beneficiary of the owner;
- the owner's controller;
- was the owner (founder) or beneficiary, or controller of the owner on the day this law came into force, but lost such status before the day of its entry into force, as a result of which a related person became the owner (founder), beneficiary or controller of the owner (founder) of the media, or a person who does not have an impeccable business reputation.
The National Security and Defense Council (NSDC) will recognize persons as oligarchs on the basis of compliance with these criteria, and the decision will be made on the basis of a proposal from the Cabinet of Ministers, a member of the NSDC, the National Bank, the Security Service or the Antimonopoly Committee.
The decision to recognize a person as an oligarch comes into force from the day of the official publication of the President's decree on its entry into force and is binding.
At the same time, the NSDC apparatus, 10 working days before the day of the meeting, at which it is planned to consider the submission on recognizing a person as an oligarch, sends a message about such a meeting to such a person at the place of his registration.
A person who has received a notification, or who has familiarized himself with it on the NSDC website, has the right to submit personal explanations and other documents to the NSDC apparatus in writing no later than 5 working days before the day of such a meeting.
At the request of a person and on the basis of an appropriate decision of the NSDC, his personal explanations may be heard at a meeting of the NSDC.
Failure by a person to receive notification of holding of such a meeting, failure of providing by him in writing of personal explanations or other documents, refusal to hear his personal explanations at a meeting or failure of a person to appear at such a meeting, including for valid reasons, are not grounds for postponing or non-consideration by the NSDC submission on recognizing him as an oligarch.
The NSDC decision will be the basis for inclusion in the Register of persons with significant economic and political weight in public life (oligarchs).
Register is an information and communication system designed to publish and process information about oligarchs and persons who submit declarations of contacts with oligarchs or their representative (declaration of contacts) in order to ensure access to information about such persons and the application of measures to them.
Those who will be included in the Register of Oligarchs will be prohibited from making contributions in the form of their own funds, performance of work, provision of goods, services or in the form of funds, performance of work, provision of goods, services by related persons and/or legal entities, the ultimate beneficial owner of which is such a person, in support of political parties, to make contributions to the election funds of candidates (except for their own election fund), political parties during the election process in accordance with the Electoral Code of Ukraine.
Also, those included in the Register are prohibited from being a buyer (beneficiary of the buyer) in the process of privatization of objects of large privatization and to finance any political campaigning, holding rallies or demonstrations with political demands.
The bill also introduces the concept of "representative of an oligarch" - this is an individual who holds meetings (conversations), communicates by phone or via electronic means of communication with public officials on behalf and/or in the interests of the oligarch.
In case of contact of a public servant with an oligarch or his representative, such a public servant is obliged to submit a declaration of contacts.
Contact with a person included in the Register or his representative means a meeting and conversation (including online), communication by phone or via electronic means of any content.
Those included in the Register will be required to submit electronic declarations, and public officials in contact with them - a declaration of contacts.
It will be possible to be excluded from the Register if it is established that a person does not correspond to at least two signs of an oligarch.
The law will come into effect after six months from the date of entry into force.
It will expire after 10 years from the date of coming into effect.
As Ukrainian News Agency earlier reported, Servant of the People decided to remove the bill on amendments to the Tax Code from the agenda of the meeting on Thursday.

Больше новостей о: Rada Verkhovna Rada oligarchs law on oligarchs