LAW OF UKRAINE

of September 17, 2015 No. 700-VIII

About modification of the Budget code of Ukraine concerning restructuring of the state and guaranteed by the state debt and its write-off

The Verkhovna Rada of Ukraine decides:

I. Bring in the Budget code of Ukraine (Sheets of the Verkhovna Rada of Ukraine, 2010, Art. No. 50-51, 572) the following changes:

1. To add part one of Article 2 with Item 7-1 of the following content:

"7-1) budget obligation on the state derivatives - the budget obligation according to which it is necessary to perform expenses on payments for the state derivatives in accordance with the terms of their placement during the current budget period and/or future".

2. Add Article 30 with part five of the following content:

"5. Expenses on payments according to budget obligations for the state derivatives are performed at the expense of funds of the Government budget of Ukraine for the corresponding budget period".

3. The second Article 55 to add part with the paragraph the nineteenth the following content:

"payments for the state derivatives".

4. To add part one of Article 87 with Item 20-2 of the following content:

"20-2) payments for the state derivatives".

5. To add the Section VI "Final and transitional provisions" with Items 34 - 37 following contents:

"34. Determine that the state or territorial community of the city carries out the:

1) obligations to make the payments (further - payment obligations) which arose according to transactions with public debt on the state external borrowings guaranteed by the state debt on external credits (loans) or with local debt on the local external borrowings according to the list according to appendix to the Law of Ukraine "About features of implementation of transactions with state guaranteed by the state debt and local debt" concerning exchange (change of conditions of the operating loans), release and sale of the corresponding debt obligations if conditions of the corresponding debt obligations are changed as a result of making of such transactions; and

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