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News

30 July 2018, 15:00

Committees round-up: Daily

( Information Department of the Verkhovna Rada of Ukraine Secretariat )

There is only one body in focus of our committee scan today:


Committee on Financial Policy and Banking

The committee’s deputy head Ruslan Demchak held a task meeting with Ethiopian financiers.

On July 27, the committeeman alongside representatives from the USAID project,  the Ukrainian Lessors Association,  the National Commission for the State Regulation of Financial Services Markets, the National Bank of Ukraine had a working meeting with representatives of the Ethiopian National Bank, the Ministry of  Industry, the Federal Development Agency for Micro, Small and Medium Enterprises (FDA for MSME), and the Development Bank of Ethiopia (DBE).

The Ukrainian side delivered its experience in the field of elaboration and implementation of financial leasing legislation (draft bill No.6395) and legislative innovations aiming at renewal of moneylending in Ukraine (draft bill No.6027-d passed in July).

In the course of the event, Ruslan Demchak lingered round the legislative changes proposed to settle the pressing problems associated with the bill on financial leasing. The changes shall, according to him, allow it to:

set clear cut requirements to a financial lease agreement form, including its essential terms,

protect individual-lessee’s rights and regulate the method of calculation of the lease and other payments under the agreement,

widen a “lessor” definition and establish that the right to provide financial leasing services is only to be given to those entities which have lawfully gained the respective status,

set essential terms and conditions for subleasing-related agreements,

give equal rights protection for proprietors and lessees in terms of use and possession of property,

establish that no leased property can be included in liquidation estate,

aiming to counteract fraud, to equate leased property with mortgaged property through the Criminal Code,

establish that rates of state notarization duty for financial leasing and motor vehicle rental agreements are to amount to the same for pledge agreements, etc.

More legislative problems that needed to be rectified were also touched upon at the meeting.