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RESOLUTION OF THE CABINET OF MINISTERS OF UKRAINE

of July 4, 2018 No. 535

About approval of the Procedure for voluntary insurance of responsibility of heads and members of the supervisory boards of the state unitary enterprises and economic societies in whose authorized capital more than 50 percent of shares (shares) belong to the state

According to part three of article 14 of the Law of Ukraine "About management of objects of state-owned property" the Cabinet of Ministers of Ukraine decides:

Approve the Procedure for voluntary insurance of responsibility of heads and members of the supervisory boards of the state unitary enterprises and economic societies in whose authorized capital more than 50 percent of shares (shares) belong to the state which is applied.

Prime Minister of Ukraine
V. Groysman

Approved by the Resolution of the Cabinet of Ministers of Ukraine of July 4, 2018 , No. 535

Procedure for voluntary insurance of responsibility of heads and members of the supervisory boards of the state unitary enterprises and economic societies in whose authorized capital more than 50 percent of shares (shares) belong to the state

General questions

1. This Procedure determines the principles of voluntary insurance of responsibility of heads and members of the supervisory boards of the state unitary enterprises (further - the company) and economic societies in which authorized capital more than 50 percent of shares (shares) belong to the state (further - society), for the losses caused to the company, society by their actions (failure to act) during execution of the powers.

Action of this Procedure does not extend to the companies, societies on which the decision on privatization is made, production about bankruptcy is initiated.

2. Terms which are used in this Procedure have such value:

person whose responsibility is insured, - the head, the chairman of collegiate executive body or person performing powers of sole executive body, the chairman or the member of the supervisory board of the company, society (further - the head and the member of the supervisory board);

the insurer - financial institution which has the right to perform insurance activity in the territory of Ukraine according to the Law of Ukraine "About insurance", the winner of procurement procedure according to law provisions in the field of public purchases;

insurer - the company, society.

3. Responsibility of the head and member of the supervisory board of the company, society for the losses caused to the company, society by their actions or failure to act in case of execution of the powers by them can be insured based on the agreement of voluntary insurance of responsibility of heads and members of the supervisory boards of the company, society (further - the insurance contract) concluded taking into account requirements of this Procedure.

4. The decision on the conclusion of the insurance contract is made subject of management of objects of state-owned property to which sphere of management the company, general meeting of society or the supervisory board belongs if it is provided by the charter of the company, societies.

Subject of management of objects of state-owned property to which sphere of management the company belongs general meeting of society or the supervisory board if it is provided by the charter of the company, societies, determine members of the supervisory board whose responsibility will be insured according to the insurance contract.

5. Subject of management of objects of state-owned property to which sphere of management the company belongs general meeting of society or the supervisory board if it is provided by the charter of the company, societies, determine the payer of insurance premium of the insurance contract and establish the maximum size of expenses on payment of insurance premium according to the insurance contract.

6. The sizes of costs for payment of insurance premium according to insurance contracts of heads and members of the supervisory board, the decision on which conclusion is made by subject of management of objects of state-owned property to which sphere of management the company belongs, general meeting of society or the supervisory board, if it is provided by the charter of the company, societies, totally shall not exceed the maximum size of expenses on payment of insurance premium according to the insurance contract determined in appendix in case the insurance contract is signed at the expense of the insurer.

7. The procedure and payment due date of insurance premium are determined in the insurance contract.

8. The insurance contract is signed according to rules of insurance which are developed by the insurer, taking into account the features determined in this Procedure.

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