If the bill is voted in its current form, not a single investor will invest money in Ukraine, says the federation.
The Federation of Employers of Ukraine (FRU) called on the Verkhovna Rada not to vote for the draft law on confiscation of private property. This was stated in his open letter to the representatives of the people.
We are talking about draft law No. 11195 On amendments to some laws of Ukraine on the mechanism for protecting the property rights of third parties, which is recommended to be included in the agenda.
The FRU recalled that the draft law proposes to give the Cabinet of Ministers the authority to make a decision on the removal of the confiscation of 100% of shares or other securities, directly or indirectly owned of a legal entity, in the ownership structure of which there is a person in which a penalty in the form of blocking is applied to the state, if a certain amount (%) of participation in such package of a person is more less than 25%. If the sanctioned person owns a share of more than 25% of the shares, the alienation occurs through the court.
The Federation believes that the draft contains a number of ambiguous rules: there are no clear rules for considering the value of the sanctioned person’s participation in the package collected as state income. In addition, the draft does not contain instructions regarding the government body that will have the authority to determine the threshold value of 25% of the participation size of the sanctioned entity, the FRU explained.
“The removal of the seizure of 100% of the shares (shares) of a legal entity, the shareholder of which is a person to whom a penalty in the form of blocking assets is applied, is clear that there is no basis for other shareholders – such as those who, by their actions, do not create a significant threat to the national security, sovereignty or territorial integrity of Ukraine So, the project is anti-constitutional in nature , because shareholders will essentially be deprived of their property rights without any violations. ” stressed the FRU.
They emphasized that if all shareholders, including unauthorized ones, are deprived of the right to participate and manage a business, this will almost certainly lead to the cessation of doing such business.
“Neither the Ukrainian nor the European doctrine of property rights allows the arbitrary interference of a government authority with a protected property right. Furthermore: it requires that the removal of rights in property has a certain basis in national law, and any person can see its occurrence. However, from the content of the draft it is obvious that “non-sanctioned shareholders cannot foresee the removal of property rights for themselves, or shape their behavior in such a way as to avoid the negative consequences for themselves If the project takes effect. a foreign investor will question the consideration of Ukraine as a place for investment, “they emphasized to the Federation.
FRU believes that this project also violates a number of bilateral international agreements of Ukraine on mutual protection of investments, as it does not provide for payment to an unauthorized person without delay of payment in money equal to the fair market value of its participation in the block of shares collected as state revenue.
“The provisions of the draft provide a discriminatory application of nationalization, because the people who are not authorized will not have the appropriate amount of procedural rights and guarantees. In relation to the above, the FRU requests not to support the draft law this,” summarized the Federation’s analysts.
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We remind you that Ukraine will sell a sanctioned plant for the first time. The State Property Fund has put up for sale the PentoPak enterprise, which was confiscated from the family of the Russian-Greek oligarch Ivan Savvidi. The starting price is 203.7 million hryvnias.
Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.