RESOLUTION OF THE CABINET OF MINISTERS OF UKRAINE

of July 4, 2018 No. 535

About approval of the Procedure for voluntary insurance of responsibility of heads and members of the supervisory boards of the state unitary enterprises and economic societies in whose authorized capital more than 50 percent of shares (shares) belong to the state

According to part three of article 14 of the Law of Ukraine "About management of objects of state-owned property" the Cabinet of Ministers of Ukraine decides:

Approve the Procedure for voluntary insurance of responsibility of heads and members of the supervisory boards of the state unitary enterprises and economic societies in whose authorized capital more than 50 percent of shares (shares) belong to the state which is applied.

Approved by the Resolution of the Cabinet of Ministers of Ukraine of July 4, 2018 , No. 535

Procedure for voluntary insurance of responsibility of heads and members of the supervisory boards of the state unitary enterprises and economic societies in whose authorized capital more than 50 percent of shares (shares) belong to the state

General questions

1. This Procedure determines the principles of voluntary insurance of responsibility of heads and members of the supervisory boards of the state unitary enterprises (further - the company) and economic societies in which authorized capital more than 50 percent of shares (shares) belong to the state (further - society), for the losses caused to the company, society by their actions (failure to act) during execution of the powers.

Action of this Procedure does not extend to the companies, societies on which the decision on privatization is made, production about bankruptcy is initiated.

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