LAW OF UKRAINE

of December 25, 2008 No. 800-VI

About prevention of influence of the global financial crisis on development of construction industry and housing construction

This Law is adopted for the purpose of stabilization of construction, increase in solvency of the population, ensuring realization of housing laws of the citizens needing the state support, stimulations of development construction and allied industries in the conditions of the global financial crisis.

This Law is directed to overcoming the crisis phenomena in construction industry and regulation of the legal relationship arising in connection with housing construction.

I. Ways of overcoming the crisis phenomena in construction industry and housing construction

Article 1. Organizational actions for the solution of urgent problems in the field of housing construction

1. Overcoming the crisis phenomena in construction industry and housing construction is performed according to this Law in the way:

the redemption from builders and/or financial institutions of unrealized housing in construction objects which were constructed with attraction of financial resources of physical persons in case of inability of builders to continue housing construction in connection with insufficient amount of means for forming of funds of social and office housing;

provisions to citizens of the state support on construction (acquisition) of affordable housing by payment by the state of part of its cost;

receipts of housing by citizens in lease with the redemption at the expense of own means of citizens and means of the state support;

provisions to physical persons and legal entities of soft credits on construction of housing and compensations of interest rate for these credits;

increases in the authorized capital of national banks and the Public mortgage institution for loan granting on completion of construction of apartment apartment houses;

the redemption the state at creditors of the mortgage loans received by physical persons on construction and acquisition of housing before entry into force of this Law and referred to category of risk.

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