Unofficial transfer (c) Soyuzpravoinform LLC

LAW OF UKRAINE

of September 19, 2024 No. 3983-IX

About features of sale of the blocks of shares belonging to the state in the authorized capital of banks

Section I. General provisions

Article 1. Determination of terms

1. In this Law the stated below terms are used in the following value:

1) providing the competitive offer provision with the participant of tender of ensuring accomplishment of the obligations to the state arising in connection with participation in tender and submission of the competitive offer, in the form of the bank guarantee, the guarantee fee or in other form determined according to the procedure of carrying out tender, approved by the Cabinet of Ministers of Ukraine according to article 11 of this Law (further - procedure for carrying out tender);

2) commission judgment - the motivated, objective, impartial and reasonable conclusion and/or assessment provided by the commission on sale of blocks of shares of banks (further - the commission on sale) concerning the facts, events, circumstances, the faces based on knowledge and experiment of members of the commission on sale, on complex and comprehensive information analysis and the documents submitted to the commission on sale within the stipulated by the legislation procedures received by the commission on sale, and also the received commission on sale of information from official sources;

3) tender - competitive method of sale of blocks of shares of banks according to which the winner determines the participant of tender who offered during trading the highest price by submission of the competitive offer conforming to requirements, established procedure of carrying out tender;

4) the competitive offer offer of selling price of the block of shares of bank which the participant of tender submits during trading according to requirements of the Procedure for carrying out tender;

5) the block of shares of bank share electronically in the authorized capital of bank, belonging to the state and considered on the account in securities opened in depository institution;

6) the winner buyer of tender who signed the purchase and sale agreement of the block of shares of bank;

7) the participating applicant of the civil relations who according to Procedure for carrying out tender showed willingness to take part in tender;

8) risk profile of the participant of tender requirement to the participant of tender, including the quantitative and qualitative indexes determined by the Cabinet of Ministers of Ukraine for the purpose of minimization for the state of the risks connected with sale of blocks of shares of banks;

9) the biddings processes of determination of the price of blocks of shares of banks according to the Procedure for carrying out tender;

10) participants of tender are the applicants allowed to participation in tender.

2. Other terms are used in this Law in the following values:

the term "essential participation" - in the value given in the Law of Ukraine "About banks and banking activity";

the terms "electronic trading system (UTS)", "electronic auction" - in the values given in the Law of Ukraine "About privatization of the state-owned and utility property".

Article 2. Law coverage

1. Operation of this Law extends to sale of blocks of shares systemically of important banks, all or part of shares in the authorized capital of which belong to the state and in which the body exercising control of corporate laws according to the shares belonging to the state is the Cabinet of Ministers of Ukraine or the central executive body providing forming of the state financial policy except "Government Savings Bank of Ukraine" public joint stock company and "National Export-import Bank of Ukraine" joint-stock company.

Article 3. Purpose and principles of sale of blocks of shares of banks

1. Sale of blocks of shares of banks is performed for the purpose of financing of the government budget of Ukraine, reduction of share of the state in banks of Ukraine, ensuring stable activities and strengthening of the competition in banking sector of Ukraine.

2. Sale of blocks of shares of banks is performed with respect for the principles of openness, competition and creating favorable conditions for investment attraction.

3. The drafts of decisions of the Cabinet of Ministers of Ukraine provided by this Law prepare and submitted for consideration of the Cabinet of Ministers of Ukraine by the central executive body providing forming of the state financial policy and are not subject to approval of other interested bodies (except drafts of decisions on formation of the commission on sale and procedure for carrying out tender).

Article 4. Object of sale

1. Object of sale are blocks of shares of the banks relating to state-owned property on which the Cabinet of Ministers of Ukraine makes the decision on sale.

Article 5. Commission on sales

1. For carrying out sale of blocks of shares of the Cabinet of Ministers of Ukraine banks in the procedure established by it forms the commission on sale which structure joins representatives of the central executive body providing forming of the state financial policy, the central executive body, providing forming of the state economic policy, the central executive body providing forming of the state legal policy and also representatives of other public authorities and legal entities of the public law in Ukraine can join.

2. Representatives of international financial institutions, institutes of the European Union and its state members, other international and foreign organizations providing to Ukraine the international technical assistance are involved from their consent of the commission on sale with the right to state the line item, to request and obtain information from the commission on sale, to provide the recommendations connected with preparation and carrying out tender.

Representatives of banks which blocks of shares are object of sale can be involved from their consent of the commission on sale with the right to state the line item.

3. The commission on sales makes the decision:

1) about provision to the Cabinet of Ministers of Ukraine of offers on:

approval risk profile of the participant of tender taking into account requirements of the National Bank of Ukraine concerning goodwill and structure of property of the participant of tender;

procedure for carrying out tender;

the admission or refusal in the admission of the applicant to participation in tender on the bases determined by parts of first or third article 6 of this Law;

the termination of participation in tender of the participant of tender according to part six of article 6 of this Law;

approval of the draft agreement of purchase and sale of the block of shares of bank, the related documents and/or the main conditions of such agreement, and also the starting price of the biddings (based on the recommendation of the adviser for sale of blocks of shares of banks);

changes of the size of the block of shares which is object of sale;

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info