Politics 2022-09-15T04:48:35+03:00
Ukrainian news
Rada Bans Oligarchs From Financing Political Parties And Participating In Privatization

Rada Bans Oligarchs From Financing Political Parties And Participating In Privatization

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Rada, Verkhovna Rada, privatization, oligarchs, law on oligarchs, financing of political parties, political parties, participation in privatization

The Verkhovna Rada has banned the oligarchs from financing political parties and participating in privatization.

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

The bill prohibits oligarchs from making contributions in the form of their own funds, performing work, providing goods, services or in the form of monetary funds, providing goods or services by related persons and/or legal entities, the ultimate beneficial owner of which is such a person, in support of political parties in accordance with the Law of Ukraine "On Political Parties in Ukraine".

It is also prohibited to make contributions to the electoral funds of candidates (except for their own electoral fund), political parties during the electoral process in accordance with the electoral code of Ukraine.

Also, oligarchs are prohibited from being a buyer (beneficiary of the buyer) in the process of privatizing large-scale privatization objects.

Besides, oligarchs are prohibited from financing any political campaign, or holding rallies or demonstrations with political demands.

They are obliged, from the moment of their inclusion in the Register of Oligarchs, to submit a declaration of a person authorized to perform the functions of the state or local self-government, in the manner prescribed by the Law of Ukraine "On Prevention of Corruption".

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 entry into force.

As Ukrainian News Agency earlier reported, on June 2, Zelenskyy submitted a bill on oligarchs to the Verkhovna Rada.

Besides, on July 1, the Verkhovna Rada intended to prohibit the oligarchs from financing political parties and participating in privatization.





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