Document from CIS Legislation database © 2003-2024 SojuzPravoInform LLC

The document ceased to be valid since March 7, 2018 according to Item 8 of the Section V of the Law of Ukraine of January 18, 2018 No. 2269-VIII

LAW OF UKRAINE

of July 10, 1996 No. 290/96-BP

About features of privatization of property in agro-industrial complex

(as amended on 16-10-2012)

This Law determines features of legal regulation of privatization of state-owned property in agro-industrial complex.

Section I GENERAL PROVISIONS

Article 1. Legislation on privatization

Privatization of property in agro-industrial complex is performed according to the legislation of Ukraine concerning privatization taking into account the features determined by this Law.

Under this law privatization of property of the companies and organizations for which core activities is production of agricultural products, products fish and forestry, their conversion and realization, performance of works and provision of services to agricultural producers is performed.

Section II PRIVATIZATION of PROPERTY of the COMPANIES, PROCESSING AGRICULTURAL RAW MATERIALS, PERFORMING WORKS AND PROVIDING SERVICES to AGRICULTURAL PRODUCERS

Article 2. Privatization method

Privatization of property of the companies of the food industry processing agricultural raw materials flour-grinding krupyanoy and the formula-feed industry, and also the service, construction, firmovy trade, other nonagricultural enterprises and the organizations of agro-industrial complex performing works and providing services to agricultural producers irrespective of the cost of subjects to privatization (but it is at least necessary for creation of the authorized capital of joint-stock company according to the legislation of Ukraine), is performed by their transformation to joint-stock companies according to the procedure, determined by the Cabinet of Ministers of Ukraine. At the same time the profilnost, technological unity of production and integrity of property complexes and technologies remain.

If the property value of the companies (organizations) specified in part one of this Article is insufficient for forming of the authorized capital of joint-stock company, privatization of their property is performed according to the procedure established by Fund of state-owned property of Ukraine. At the same time the economic society created by employees of such companies (organizations) has the first-priority right to the redemption of property.

In case of refusal employees of the specified companies (organizations) from the first-priority right to the redemption the property is privatized on competitive bases.

Article 3. Privileges for share acquisition

Employees of the companies (organizations) which property is privatized, and also persons equated to them have the right to preferential share acquisition which amount of nominal value constitutes 45 free minima of the income of citizens: the former employees of such companies (organizations) which retired, dismissed in connection with reducing number or the state and not working from the moment of dismissal for other subjects of managing of various patterns of ownership, persons having the right according to the legislation to return on prior workplace at the specified company (organization), the workers who lost working capacity in connection with labor mutilation or occupational disease and also the workers of welfare and medical and improving institutions privatized as a part of the companies (organizations) on which balance they are.

The price of one share for the preferential sale provided by part one of this Article is established at the level of half of par value per share.

51 percent of shares of the companies (organizations) which are privatized is transferred to non-state agricultural enterprises (organizations) free of charge.

In respect of privatization of the companies (organizations) processing agricultural raw materials, performing works and providing services to agricultural producers the corresponding quota for the operating sovkhozes and other state agricultural enterprises for subsequent their transfer after privatization is provided.

Share placing term for the operating sovkhozes and other state agricultural enterprises specified in respect of share placing shall not exceed ten months from the date of the beginning of their placement. Stocks which are free of charge not transferred within ten months are subject to redistribution in two-month time among the producers who received shares during initial distribution, according to the procedure, determined by article 4 of this Law.

If the companies (organization) which are privatized did not sign contracts with agricultural enterprises, the privilege provided by part three of this Article is not provided.

Article 4. Procedure for distribution of shares

Distribution of shares between the state and non-state agricultural enterprises (organizations) is performed in proportion to amount of the raw materials which are handed over on subject to privatization, to amount of completed work and the provided services, on average in five years preceding year of privatization, and for the existing less than five years - during their activities.

Shares which were not placed on favorable terms within one year from the date of the beginning of their sale are implemented in accordance with general practice according to the legislation of Ukraine.

Section III PRIVATIZATION of PROPERTY of SOVKHOZES AND OTHER STATE AGRICULTURAL ENTERPRISES

Article 5. Method of privatization of property

Privatization of property of sovkhozes and other state agricultural enterprises is performed by their transformation to collective agricultural enterprises or to joint-stock companies according to the decision of general meeting (meeting of representatives).

Article 6. Free transfer of share of state-owned property (shares)

To persons equated to them according to part one of article 3 of this Law the share of state-owned property (share) which size is determined as the work of property value which is the share of one employee of non-state agricultural enterprise of the area (Autonomous Republic of Crimea), of the number of employees of the company which is privatized, and persons equated to them free of charge is provided to employees of the company (organization) which is privatized and. The property value which is the share of one employee of non-state agricultural enterprise of the area (Autonomous Republic of Crimea) is determined at the beginning of year based on the statistical reporting for previous year once a year.

Free transfer of share of state-owned property (shares) is performed in case of transformation in the course of privatization of sovkhozes and other state agricultural enterprises to collective agricultural enterprises or in joint-stock companies based on the agreement of free transfer which is signed taking into account the legislation on the tax matters.

Distribution of free of charge transferred property (shares) between workers is performed according to labor participation according to the decision of general meeting (meeting of representatives).

Warning!!!

This is not a full text of document! Document shown in Demo mode!

If you have active License, please Login, or get License for Full Access.

With Full access you can get: full text of document, original text of document in Russian, attachments (if exist) and see History and Statistics of your work.

Get License for Full Access Now

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info

Effectively work with search system

Database include more 50000 documents. You can find needed documents using search system. For effective work you can mix any on documents parameters: country, documents type, date range, teams or tags.
More about search system

Get help

If you cannot find the required document, or you do not know where to begin, go to Help section.

In this section, we’ve tried to describe in detail the features and capabilities of the system, as well as the most effective techniques for working with the database.

You also may open the section Frequently asked questions. This section provides answers to questions set by users.

Search engine created by SoyuzPravoInform LLC.