LAW OF UKRAINE

of November 18, 1999 No. 1242-XIV

About measures for the state support of the ship-building industry in Ukraine

This Law is directed to effective use of the potential, scientific and technical and export potential and increase in competitiveness of domestic shipbuilding, including low-tonnage, creating favorable conditions for investment attraction, in particular foreign, expense reduction on vessel construction and replenishment of current assets of the ship-building companies.

Article 1. It is excluded.

Article 2. Voided according to the Code of Ukraine of 13.03.2012 No. 4495-VI

Article 2-1. For the period the state financial support of construction of ocean, river crafts and other watercrafts and reconstruction of the fixed business assets of the companies of the ship-building industry via the mechanism of reduction in cost of the credits by determination of partial compensation of rate on the credits of commercial banks is entered from January 1, 2005 to January 1, 2012.

Funds for implementation of such financial support of ship-building industry annually, taking into account requirements of the Budget code of Ukraine, are provided in the law on the government budget and are allocated to the companies determined according to article 1 of the Law of Ukraine "About measures for the state support of the ship-building industry in Ukraine".

The procedure for use of the specified means of the government budget annually is determined by the Cabinet of Ministers of Ukraine".

Article 3. This Law becomes effective since January 1, 2000.

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