of December 16, 1997 No. 723/97-BP
About financial leasing
This Law determines general legal and economic basis of financial leasing.
1. Financial leasing (further - leasing) is type of the civil relations arising from the agreement of financial leasing.
2. Under the agreement of financial leasing (further - the agreement of leasing) the lessor shall acquire in property thing at the seller (supplier) according to the specifications and conditions established by the leasing recipient and to transfer her to use to the leasing recipient for certain term at least one year for the established payment (leasing payments).
1. The relations arising in connection with the agreement of financial leasing are regulated by regulations of the Civil code of Ukraine on leasing, hiring (lease), purchase and sale, delivery taking into account features which are established by this Law.
2. The relations arising in case of acquisition of right of economic maintaining regarding the agreement of leasing are regulated by the rules established for regulation of the relations arising in case of acquisition of property right regarding the agreement of leasing except the order right by leasing subject.
1. (Further - leasing subject) the non-consuming thing determined by individual signs and carried according to the legislation to fixed assets can be the subject of the agreement of leasing.
2. The parcels of land and other natural objects, single property complexes of the companies and their isolated structural divisions (branches, workshops, sites) cannot be leasing subject.
3. The property which is in the state-owned or utility property and concerning which there is no prohibition of transfer to use and/or ownership can be leased according to the procedure, established by this Law.
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