Document from CIS Legislation database © 2003-2020 SojuzPravoInform LLC

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 make 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 meetings 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 meetings 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 meetings 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.

Features of liability insurance of the head and member of the supervisory board

9. The subject of the agreement of insurance according to this Procedure are valuable interests of the insurer which do not contradict the law and the faces tied with obligation which responsibility is insured, to pay the loss caused by it to the insurer as a result of actions or failure to act, during execution of it the powers as head or member of the supervisory board in connection with presentation of the well-ground claim by the insurer.

Claims are considered shown from the moment of receipt of the written notice of them by the insurer.

10. Insurance risk according to this Procedure is making of actions or divergence of person which responsibility is insured, in case of accomplishment of the powers by it as head or member of the supervisory board of the company, society as a result of whom losses can be caused to the insurer, namely:

implementation of investing activities which led to losses of the insurer;

the statement and the statement on behalf of the insurer which negatively affected goodwill of the insurer and led to losses of the insurer;

disclosure of office and confidential information and trade secret that led to losses of the insurer;

the conclusion on behalf of the insurer of agreements, including in what there is personal interest which led to presentation of claims by the third parties and, as a result, losses of the insurer;

causing damage to owners during procedures of reorganization and liquidation of the company, society and the economic organizations, control of which is exercised by the company, society;

promulgation of the financial reporting which contains unreliable information that led to losses of the insurer;

other actions which led to losses of the insurer based on which and it is exclusive in connection with execution of powers as the head or member of the supervisory board the claim specified in the insurance contract is made.

The specified list is not final and can be expanded or specified in the insurance contract.

11. In case of approach of the event having signs of insured event the insurer within two working days since the moment as it became known of approach of event, files to the insurer petition with the description of circumstances of loss occurrence, the reasons and calculation of the caused losses.

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 40000 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 SojuzPravoInform LLC. UI/UX design by Intelliants.