LAW OF UKRAINE

of July 16, 1999 No. 997-XIV

About concessions

This Law determines concepts and the legal basis of regulation of the relations of concession of the state-owned and utility property, and also condition and procedure for its implementation for the purpose of increase in efficiency of use of the state-owned and utility property and ensuring needs of citizens of Ukraine for goods (works, services).

Section I. General provisions

Article 1. Determination of terms

For the purposes of this Law terms are used in the following value:

concession - provision for the purpose of satisfaction of public requirements with authorized body of the executive authority or local government body based on the concession treaty on paid and urgent basis to legal entity or physical person (the subject of business activity) of the right to creation (construction) and (or) management (operation) of subject to concession (urgent paid ownership), on condition of capture by the subject of business activity (concessionary) on obligations on creation (construction) and (or) management (operation) of subject to concession, property responsibility and possible entrepreneurial risk;

the agreement of concession (concession treaty) - the agreement according to which the authorized body of the executive authority or local government body (concessor) provides on paid and urgent basis to the subject to business activity (concessionary) the right to create (to construct) subject to concession or it is essential to improve it and (or) to exercise its control (operation) according to this Law for the purpose of satisfaction of public requirements;

the concessionary - the subject of business activity who according to this Law based on the agreement received concession. Several persons can be on the side of the concessionary;

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