LAW OF UKRAINE

of April 13, 2021 No. 1381-IX

About modification of some legal acts of Ukraine of rather consumer loans granted in foreign currency

The Verkhovna Rada of Ukraine decides:

I. Make changes to the following legal acts of Ukraine:

1. The paragraph the fourth Item 2 of the Section "Final and Transitional Provisions" of the Code of Ukraine on insolvency proceedings (19, the Art. 74) to exclude sheets of the Verkhovna Rada of Ukraine, 2019 No.

2. In the Section IV "Final and transitional provisions" of the Law of Ukraine "About consumer crediting" (Sheets of the Verkhovna Rada of Ukraine, 2017, No. 1, Art. 2 with subsequent changes):

Item 2 to state 1) in the following edition:

"2. Operation of this Law extends to the agreements of consumer loan signed after day of entry into force of this Law except Item 6 of this Section which action extends to all agreements on consumer loan, and Item 7 of this Section which action extends to all agreements on the consumer loan granted in foreign currency which correspond to the criteria stated in the specified Item";

To add 2) with Item 7 of the following content:

"7. The obligations of borrowers under agreements on the consumer loan granted in foreign currency corresponding to the criteria specified in this Item (irrespective of date of the conclusion of the agreement), are subject to obligatory restructuring upon the demand of the borrower (person to whom passed the rights and the borrower's obligations) or his representative (under the law or in the presence of the power of attorney to making of such actions) according to the procedure and on the conditions established by this Item:

1) the obligations provided by the agreement on the consumer loan granted in foreign currency (further in this Item - the agreement), in case are subject to obligatory restructuring:

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