LAW OF UKRAINE

of December 3, 1990 No. 507-XII

About the prices and pricing

Ukraine according to the Declaration on the state sovereignty of Ukraine and the Law of Ukraine "About economic independence of the Ukrainian SSR" independently performs policy of the prices. The law determines the basic principles of establishment and use of the prices and rates and the organization of control of their observance in the territory of the republic.

Section I. GENERAL PROVISIONS

Article 1. Legislation of Ukraine on pricing

The legislation of Ukraine on pricing consists of this Law and other acts of the legislation of Ukraine which are issued according to it.

Article 2. Scope of the Law

This law extends to all companies and the organizations irrespective of patterns of ownership, subordination and methods of labor organization and production.

Article 3. Pricing policy

Pricing policy is component of general economic and social policy of Ukraine and aimed at providing:

equal economic conditions and incentives for development of all patterns of ownership, economic independence of the companies, organizations and administrative-territorial regions of the republic;

balanced market of means of production, goods and services;

counteractions to exclusive tendencies of manufacturers of products, goods and services;

objective ratios in the prices of industrial and agricultural output which provides equivalence of exchange;

expansion of scope of free prices;

improvement of quality of products;

social guarantees first of all for low-paid and needy citizens, including system of compensation payments in connection with increase in prices and tariffs;

creation of necessary economic guarantees for producers;

orientations of the prices of the domestic market to the level of the world market.

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