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LAW OF UKRAINE

of July 14, 2023 No. 3257-IX

About modification of some legal acts of Ukraine concerning streamlining of activities of separate divisions of the legal entity formed according to the legislation of foreign state

The Verkhovna Rada of Ukraine decides:

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

1. Parts the third and fourth article 117 of the Economic code of Ukraine (2003, Art. No. No. 18-22, 144) to exclude sheets of the Verkhovna Rada of Ukraine.

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

1) in Article 95:

the third or fifth to state parts in the following edition:

"3. Branches and representations are not legal entities. They are allocated with property of the legal entity which formed them, and act on the basis of the provision approved by it or on other basis, stipulated by the legislation foreign state according to which the legal entity whose separate divisions are such branches and representations is formed.

4. Heads of branches and representations are appointed the legal entity and act on the basis of the power of attorney issued to them or on other basis, stipulated by the legislation foreign state according to which the legal entity whose separate divisions are such branches and representations is formed.

5. Branches and representations of the legal entity, including the legal entity formed according to the legislation of foreign state are subject to state registration according to the procedure, established by the law.

The branch and representation of the legal entity are considered created from the date of their state registration";

add with part six of the following content:

"6. Requirements to education in Ukraine of branch and representation of the legal entity formed according to the legislation of foreign state can be established by the law.

Formation of branch and representation of the legal entity formed according to the legislation of the state recognized according to the law the state aggressor or the state invader is forbidden";

To add 2) with Article 105-1 of the following content:

"Article 105-1. The termination of branch, representation of the legal entity formed according to the legislation of foreign state

1. The branch, representation of the legal entity formed according to the legislation of foreign state stops as a result of liquidation.

2. The branch, representation of the legal entity formed according to the legislation of foreign state are stopped from the date of entering into the Unified state register of record about the termination.

3. The legal entity formed according to the legislation of foreign state, who made the decision on the termination of branch, representation, court or public authority which made the decision on the termination of branch, representations of the legal entity formed according to the legislation of foreign state shall within ten working days from acceptance date of such decision in writing notify on it the body performing state registration.

4. The legal entity formed according to the legislation of foreign state, who made the decision on the termination of branch, representation, court or public authority which made the decision on the termination of branch, representations of the legal entity formed according to the legislation of foreign state appoints the commission on the termination of branch, representative office (liquidation commission), the commission chairman or the liquidator and establishes procedure and term of the statement creditors of the requirements to the legal entity formed according to the legislation of foreign state, branch which representative office stops.

5. Or the liquidator from the moment of appointment pass powers on administration of branch, representation into the commission on the termination of branch, representation of the legal entity formed according to the legislation of foreign state (liquidation commission). The commission chairman, her members or the liquidator of branch, representation of the legal entity formed according to the legislation of foreign state represent it in the relations with the third parties.

6. Statement term creditors of the requirements to the legal entity formed according to the legislation of foreign state, cannot constitute branch which representative office stops less than two months and more than six months from the date of promulgation of the notification on the decision on the termination of branch, representation.

The legal entity formed according to the legislation of foreign state branch which representative office stops is considered received the relevant requirement of the creditor, from the date of receipt of such requirement by its branch stopped by representation.

7. The commission on the termination of branch, representation of the legal entity formed according to the legislation of foreign state (liquidation commission), or the liquidator considers each separate requirement of the creditor, in particular on tax payment, charges, single fee on obligatory national social insurance, insurance premiums in the Pension fund of Ukraine, Social Insurance Funds, and makes the relevant decision which sends to the creditor no later than 30 days from the date of obtaining by branch, representation of the legal entity formed according to the legislation of foreign state, the relevant requirement of the creditor";

Part third of Article 110 to state 3) in the following edition:

"3. If the property value of the legal entity is insufficient for satisfaction of requirements of creditors, the legal entity performs all necessary actions established by the law";

To add 4) with Article 110-1 of the following content:

"Article 110-1. Liquidation of branch, representation of the legal entity formed according to the legislation of foreign state

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