LAW OF UKRAINE

of March 23, 2017 No. 1984-VIII

About modification of some legal acts of Ukraine of rather corporate agreements

The Verkhovna Rada of Ukraine decides:

I. Make changes to such legal acts of Ukraine:

1. In the Civil code of Ukraine (The sheet of the Verkhovna Rada of Ukraine, 2003, Art. No. No. 40-44, 356):

Part the fourth Article 249 to add 1) with the offer of the following content: "The irrevocable power of attorney with corporate laws is issued according to the law regulating activities of the relevant economic societies";

Shall be replaced with words 2) in part one of Article 509 of the word of "certain action" "making of certain action (the negative obligation)";

To add 3) in Article 526 with part two of the following content:

"2. Accomplishment of obligations, realization, change and the termination of certain rights in contractual commitment can be caused by making or abstention from making of one of the parties in the obligation of certain actions or approach of other circumstances provided by the agreement including circumstances which completely depend on will of one of the parties";

Article 611 to add 4) with part two of the following content:

"2. In case of violation by the debtor of the negative obligation the creditor irrespective of payment of penalty and (or) indemnification and moral harm has the right to require cancellation from which making the debtor undertook to refrain if it does not contradict contents of the obligation. Such requirement can be imposed by the creditor and in case of real threat of violation of such obligation";

To add 5) with Article 658-1 of the following content:

"Article 658-1. ACQUISITION OF RIGHT TO UNILATERAL AGREEMENT CANCELATION

1. Agreement parties of purchase and sale can agree that one party acquires at another the right to terminate this agreement unilaterally.

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