ORDER OF THE MINISTRY OF TRANSPORT OF UKRAINE

of May 17, 1999 No. 260

About approval of the Procedure for the conclusion of insurance contracts of the ocean ships staying in state-owned property and given by shipowners to the freight, lease, leasing

For the purpose of ordering of insurance activity in the field of sea transport and increase in receipts in the Government budget of Ukraine and according to article 242 of the Code of trade Ukraine of navigation, the Law of Ukraine "About lease of the state-owned and utility property", I ORDER:

1. Approve the Procedure for the conclusion of insurance contracts of ocean ships which stay in state-owned property and are transferred by shipowners to the freight, lease, leasing (is applied).

2. To impose control of execution of this order on the deputy minister of transport A.F.Demidenko.

Approved by the Order of the Ministry of transport of Ukraine of May 17, 1999, No. 260

Procedure for the conclusion of insurance contracts of the ocean ships staying in state-owned property and given by shipowners to the freight, lease, leasing

1. This Procedure determines conditions of the conclusion of insurance contracts of the ocean ships of the state pattern of ownership subordinated to the Ministry of infrastructure of Ukraine that are transferred to the freight, lease, leasing.

The paragraph two is excluded.

2. Insurance terms which are used in this Procedure are determined by the Law of Ukraine "About insurance".

3. Insurers are shipowners who give vessels to the freight, lease, or exploit them on the terms of leasing.

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