Resolution passed
National Commission on Securities and Stock Market (NSSMC) approved the draft Law of Ukraine «On Amendments to Certain Legislative Acts of Ukraine regarding the transfer by the person appointed (elected) to the office, of appropriate corporate rights to management by another person.» This resolution was adopted at a regular meeting of the regulator, on 5 November 2013, informs the press service of NSSMC.
«The abovementioned draft Law was prepared pursuant to the Law of Ukraine «On Prevention and Combating Corruption». In particular, the provisions of this document to come into force on 1 January 2014 provide for the need to introduce mechanisms of transfer of corporate rights. To implement the above, the Commission's bill provides for a comprehensive settlement of the issue of introducing the mechanism of transmission by the person appointed or elected to the post, of appropriate corporate rights to management by another person. This document spells out ways of transferring corporate rights to another person, including through the conclusion of appropriate agreements for the implementation of corporate rights of the business entity, securities broker or asset manager», said Maksym Libanov, director of department for analysis, strategy and development of legislation at NSSMC.
At present the document is already published on the official website of the Commission, where all visitors have the opportunity to study the text of the document.
