LAW OF UKRAINE

of April 7, 2015 No. 289-VIII

About modification of some legal acts of Ukraine concerning protection of the rights of investors

The Verkhovna Rada of Ukraine decides:

I. Make changes to the following legal acts of Ukraine:

1. In the Labor code of Ukraine (The sheet of the Supreme Council of USSR, 1971, appendix to No. 50, the Art. 375):

The word of "others" to replace 1) in Article 113 part two with the word "or";

Article 159 part one in paragraph five the word "another" to exclude 2).

2. In the Economic Procedure Code of Ukraine (The sheet of the Verkhovna Rada of Ukraine, 1992, No. 6, the Art. 56):

The Section I to add 1) with Article 4-8 - the following content:

"Article 4-8. Official promulgation of the announcements on cases on indemnification caused to economic society by his official

In the cases on indemnification caused to economic society by his official the following documents are subject to official promulgation by economic court on the official site of the Supreme Economic Court of Ukraine: resolutions on initiation of proceeedings, information on the announcement of break in meeting, statements of participants (shareholders) for appointment of representatives of the claimant.

Resolutions on initiation of proceeedings shall be officially promulgated within two days from the date of their removal. Information on the announcement of break is published in meeting within two days from the date of such announcement, but not later than seven days before the following judicial session, except for resolutions on initiation of proceedings on compensation of the damage caused to economic society by his official will be promulgated not later than 20 calendar days about day of carrying out judicial session. The statements specified in part one of this Article officially will be promulgated within two days from the date of their receipt in economic court.

All documents specified in part one of this Article or their web addresses are posted on the official site of the Supreme Economic Court of Ukraine on the single web page where are specified file number, the name and the address of economic court, the name of the claimant, its location and identification code, the claim price, date of the publication of each document, the name (for legal entities) or name (surname, name and middle name in the presence - for physical persons) the representative (representatives) of the claimant. If the action for declaration is submitted by the representative appointed members (shareholders) of the claimant according to part eight of article 28 of this Code on the single web page it is specified about it and the name (for legal entities) or name (surname, name and middle name in the presence - for physical persons) such participants (shareholders) is specified.

In the cases on indemnification caused to economic society by his official, resolutions on initiation of proceeedings, on adjournment of consideration of the case, on suspension of proceeedings and on its recovery, on leaving of the claim without consideration on suit abatement, about adoption of the petition for appeal to production, about adoption of the writ of appeal to production, decisions and resolutions of economic court on case are subject to inclusion by Public judicial administration in the Unified state register of judgments no later than the next day after their removal";

Part one of Article 12 to add 2) with Item 4-1 of the following content:

"4-1) cases on disputes between economic society and its official (including the official, which powers are stopped) about indemnification caused by such official to economic society its actions (failure to act)";

Part the seventh Article 16 to state 3) in the following edition:

"Cases in the disputes provided by items 4 and 4-1 articles 12 of this Code are considered by economic court in the location of the legal entity";

Article 21 to state 4) in the following edition:

"Article 21. The parties in legal procedure

The parties in legal procedure are the claimant and the defendant.

Claimants are the companies and the organizations specified in Article of 1 of this Code which submitted claim or for the benefit of which the claim for protection of the violated or disputed right or the interest protected by the law is made.

Defendants are legal entities and in the cases provided by this Code - physical persons on which the claim is imposed";

Article 28 to add 5) with parts eight - the tenth the following content:

"In the disputes on indemnification caused to economic society by his official, the representative of such society is also the member (shareholder) of this society who in total possesses 10 and more percent of the authorized capital (common shares) of society which submitted to economic court the action for declaration on behalf of society or submitted the application for making of representation of the claimant to economic court. The participant (shareholder) who possesses 10 and more percent of the authorized capital (common shares) of economic society can perform representative office of society personally (if it is physical person), through the bodies (if he is legal entity), through public authorities, authorities of the Autonomous Republic of Crimea, local government bodies (if they are in the state, the Autonomous Republic of Crimea, territorial community), through other representatives. The participant (shareholder) who in total possesses 10 and more percent of the authorized capital (common shares) of society can perform representative office of society through one of participants (shareholders) or authorize jointly on this other person.

In the disputes on indemnification caused to economic society by his official, abandonment of claim, reduction of the size of claims, change of subject or basis of the claim, the conclusion of the voluntary settlement, refusal from appeal or the writ of appeal are possible only from written consent of all representatives of this society.

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