RESOLUTION OF THE CABINET OF MINISTERS OF UKRAINE

of November 25, 2015 No. 1033

About modification of property assessment Technique

The Cabinet of Ministers of Ukraine decides:

1. Make changes to the property assessment Technique approved by the resolution of the Cabinet of Ministers of Ukraine of December 10, 2003 No. 1891 (The Official Bulletin of Ukraine, 2003, No. 51, Art. 2669; 2005, No. 37, Art. 2299; 2008, No. 100, Art. 3317; 2009, No. 20, Art. 645, No. 28, Art. 939, No. 66, Art. 2287; 2011, No. 95, Art. 3462; 2015, to No. 28, the Art. 810, No. 68, the Art. 2237), having stated it in the enclosed edition.

2. Determine that the appraisal reports of property and the conclusion about property value constituted and approved according to the Technique of property assessment in the edition operating before entry into force of this resolution are effective during the effective period established for them.

Approved by the Resolution of the Cabinet of Ministers of Ukraine of December 10, 2003 No. 1891

(in edition of the Resolution of the Cabinet of Ministers of Ukraine of November 25, 2015 No. 1033)

Property assessment technique

General part

1. This Technique is applied to evaluating objects of the right of the state-owned and utility property, property of subjects of managing with the state (utility) share in the authorized (share) capital in cases when such objects are objects of economic, civil and other legal relationship, except cases of lease and concession of objects of the state-owned and utility property, and also property acquisition under the Law of Ukraine "About legal regime of property in the Armed Forces of Ukraine", and also to evaluating objects which return to the state-owned or utility property (including by a court decision), to determination of the size of losses which led to drawing property damage to the state, territorial community or the subject of managing with the state share (share of utility property) in the authorized (share) capital, in case of establishment of the facts of plunder, shortage, destruction, spoil of property.

According to this Technique assessment of objects in material form, objects in the form of single (complete) property complexes, including together with the parcels of land on which such objects are located, objects in non-material form, including property rights of intellectual property is carried out, the size of the authorized capital of joint-stock company, fund of collective agricultural enterprise which is formed in the course of privatization (corporatisation), and the size of losses is determined.

2. In this Technique the stated below concepts are used in such value:

date of inventory count - date for which inventory count of property of the company is carried out. Date of inventory count in cases of privatization (corporatisation) matches with date of assessment. At the same time date of assessment is the last date;

date of preliminary inventory count of non-current assets - date (any date) for which inventory count of non-current assets for the purpose of creation of their list in the form established in appendix 4, for carrying out independent assessment for the purpose of preparation of transfer balance is carried out. Preliminary inventory count is carried out before date of assessment;

the integral improvements of leased property - the actions performed by the lessee directed to improvement of physical (technical) condition of leased property and (or) its consumer qualities which department will lead to reduction of its market value;

independent assessment - determination by the subject of estimative activities - the subject of managing based on the agreement on evaluating certain cost type of property, except estimative, according to national standards of assessment and other regulatory legal acts on methodical regulation of independent assessment;

separate individually certain property - objects in material form, (inventory objects or groups of inventory objects and other separate property) privatized according to the Law of Ukraine "About privatization of the small state companies (small privatization)";

transfer balance of the company - balance of the company (the consolidated balance of holding company) constituted for date of assessment according to provisions (standards) of financial accounting or international accounting standards by results of inventory count in which in the cases determined by this Technique the revaluated value of non-current assets is displayed;

revaluated value of assets - the cost at which assets are reflected in the transfer (distribution) balance of the company constituted for date of assessment, determined by results of their independent assessment according to procedure and in the cases provided by this Technique;

repeated assessment - object assessment which is carried out by the subject of estimative activities for results of reviewing of the valuation report (appraisal report) of this object for date for which assessment of this object was carried out by other subject of estimative activities, the report (act) on which was subject to reviewing;

positive general conclusion of the reviewer - conclusion according to which the report completely or in general conforms to requirements of regulatory legal acts according to property has small minuses which did not affect reliability of assessment;

starting price of property - the price established by Fund, other state body or local government body (the tender, auction committee formed by the specified bodies) taking into account results of assessment of property which is carried out according to this Technique with which sale of property begins the methods established by the legislation providing the competition of buyers and the change in price in case of sale;

the standardized assessment - assessment which is performed by independently state body or local government body with use of standard methodology and standard set of basic data, by results of which the appraisal report in which the estimated value is determined is drawn up;

aggregate value of single (complete) property complex - the amount of asset cost of the company which are reflected in its transfer balance;

net value of single (complete) property complex - the aggregate value of single (complete) property complex reduced by the amount of obligations of the company.

3. Other concepts used in this standard are used in the value given in national standards of assessment, provisions (standards) of financial accounting (International Financial Reporting Standards) and other regulatory legal acts.

4. Independent assessment of property is carried out according to requirements of national standards of assessment taking into account provisions of this Technique, other regulatory legal acts according to property and international standards of assessment in the part which is not contradicting national regulatory legal acts according to property.

5. In case of decision making about privatization of object by sale at auction without announcement of the price, sale of object according to the Law of Ukraine "About features of privatization of the coal-mining companies" on investment tender assessment of such object repeatedly is not made.

6. In case of carrying out repeated assessment of property such assessment is carried out by the subject of estimative activities according to the regulatory legal acts existing on date of assessment of this property and creation of the valuation report (appraisal report) in the past with other subject of estimative activities with use of information the, necessary for assessment, urgent for date of assessment which was known on date of assessment in the past.

Preparatory stage to property assessment

7. For determination of the size of the authorized capital of joint-stock company which is formed based on the state-owned (utility) property (except objects of construction in progress, property of sovkhozes, other state agricultural enterprises which are privatized on expedited procedure) in case of privatization (corporatisation), it is performed:

1) education by privatization authority (other state body or local government body) of inventory-taking group taking into account requirements of Item 15 of this Technique, determination of date of preliminary inventory count of non-current assets for the purpose of creation of their list in the form established in appendix 4, and determinations of date of assessment;

2) carrying out by inventory-taking group of preliminary inventory count of non-current assets and approval of its results in the procedure determined by the legislation in time, not exceeding 15 calendar days after date of the previous inventory count, but not later than 10 calendar days before date of assessment;

3) creation by inventory-taking group and approval by privatization authority (other state body or local government body) of the list of the non-current assets which are subject to independent assessment (further - the list), in the form established in appendix 4, in five-day time after approval of results of the previous inventory count;

4) representation of materials of the previous inventory count (the summary act according to appendix 6 and the list in the form established in appendix 4) of privatization authority (other state body or local government body) not later than five days before date of assessment;

5) selection by privatization authority on competitive basis of the subject of estimative activities - subject of managing which will carry out independent assessment of non-current assets, and the conclusion of the contract with it on their assessment not later than five days before date of assessment with preliminary determination of measurement base of assets according to this Technique and the National standard No. 1 "General bases of assessment of property and property rights" approved by the resolution of the Cabinet of Ministers of Ukraine of September 10, 2003 No. 1440 (The Official Bulletin of Ukraine, 2003, No. 37, the Art. 1995) (further - the National standard No. 1). In case of formation of joint-stock company based on property of several companies or separate divisions of the company for independent assessment of their non-current assets several subjects of estimative activities of subjects of managing can be attracted on competitive basis;

6) carrying out complete inventory of assets and liabilities for date of inventory count that matches with date of assessment, creation of the list in the form established in appendix 4, by results of refining by inventory-taking group of results of preliminary inventory count of non-current assets for date of assessment. Materials of complete inventory and the list are provided to the commission on privatization (corporatisation) for the purpose of their consideration and approval in time, not exceeding 20 calendar days after date of assessment;

7) approval of privatization authority by the head (other state body or local government body) or person of materials of complete inventory authorized by it (the summary act according to appendix 6 and the list in the form established in appendix 4), approved by the legal decision of the commission on privatization (corporatisation), in time, not exceeding 5 calendar days after representation to their commission on privatization (corporatisation);

8) representation of the approved materials of complete inventory (the summary act according to appendix 6 and the list in the form established in appendix 4) of privatization authority in time which is not exceeding 25 calendar days after date of assessment.

Lists of non-current assets contain information on the name of asset according to its basic purpose, accession number, the manufacturer, year of production (commissioning), original cost, the depreciation amount, useful life, data on its integral improvements (reconstruction, upgrade, re-equipment, capital repairs), partial liquidation and the other information containing in inventory count materials and are constituted in the form established in appendix 4.

In case of untimely representation to privatization authority (the customer of independent assessment) of lists of non-current assets of the company and summary inventory reports of property and (or) their creation with violation of requirements of this Technique the specified documents are subject to return with the subsequent purpose of new date of assessment;

9) representation by the company to privatization authority (the customer of independent assessment) of basic data for the estimated non-current assets which minimum amount is established by Fund of state-owned property, in time, not exceeding 15 calendar days after date of assessment.

In case of decision making about entering into the authorized capital of joint-stock company of the parcel of land on which the company is located as its irreversible asset the preparatory stage to assessment begins after forming of the parcel of land as object of the civil laws according to Article 79-1 of the Land code of Ukraine. At the same time in case of need in performance of works on land management the contractor of such works is elected by privatization authority on the competitive beginnings.

8. For cost determination of separate individually certain property, objects of construction in progress, single (complete) property complexes and subjects to welfare appointment for the purpose of their privatization on preparatory stage it is performed:

1) determination of date of inventory count by privatization authority that matches with date of assessment and formation of inventory-taking group taking into account requirements of Item 15 of this Technique;

2) carrying out by inventory-taking group of inventory count of property in one stage in time which is not exceeding 15 calendar days after date of inventory count for objects of construction in progress additional carrying out inspection of the building site and technical condition of object with creation of the act according to appendix 7. Executive schemes of separate designs and types, other documents based on which conclusions were drawn on technical condition of object of construction in progress and degree of its construction readiness can be attached to the specified act;

3) selection by privatization authority on competitive basis of the subject of estimative activities - subject of managing which will carry out independent assessment, and the conclusion of the contract with it for evaluating property in time, not exceeding 20 calendar days after date of assessment, with preliminary determination of measurement base of objects according to this Technique and the National standard No. 1;

4) creation by results of inventory count for date of assessment and submission by the company (asset holder) to privatization authority:

summary inventory report (rather separate individually certain property);

the summary inventory report with other materials of inventory count and transfer balance together with audit opinion - in case of adoption of the relevant decision by privatization authority (rather single (complete) property complexes);

the summary inventory report together with the act of inspection of the building site according to appendix 7, inventory registers according to appendices 8 and 9 and audit opinion about reliability and completeness of reflection in financial accounting of construction expenses of object (on objects of construction in progress);

5) approval of the summary inventory report of property by privatization authority in time, not exceeding 20 calendar days after date of inventory count;

6) preparation and approval of the list of property by privatization authority which cost is withdrawn from the cost of single (complete) property complex, in time, not exceeding 25 calendar days after date of assessment;

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