LAW OF UKRAINE

of September 18, 2018 No. 2545-VIII

About ensuring transparency in the extracting industries

This Law determines the legal basis of regulation and the organization of collection, disclosure and distribution of information for the purpose of ensuring transparency and prevention of corruption in the extracting industries in Ukraine.

This Law is directed to execution of the international obligations of Ukraine in connection with accession to the Initiative concerning ensuring transparency in the extracting industries (further - IPDO), and also on implementation of acts of the European Union law regarding increase in transparency of economic activity in the extracting industries, namely Directives 2013/34/EU of the European Parliament and Council on the annual financial reporting, consolidated financial statements and related reports of certain types of the companies, making changes to Directives 2006/43/EU of the European Parliament and Council and canceling the Directive of Council 78/660/EEC and 83/349/EEC, the Directive 2013/50/EU of the European Parliament and Council making changes to Directives 2004/109/EU of the European Parliament and Council on harmonization of requirements to transparency concerning information on issuers whose securities are admitted to trading in the controlled market Directives 2003/71/EU of the European Parliament and Council on the prospectus of the biddings it is published in cases when securities are offered for sale to individuals or Directives of the Commission 2007/14/EU establishing detailed rules of implementation of separate provisions of the Directive 2004/109/EU are admitted to trading, and.

Section I General provisions

Article 1. Determination of terms

1. In this Law the provided terms are used in such value:

the multilateral group on implementation of IPDO - the permanent group formed by the central executive body which provides forming and implements state policy in fuel and energy complex, for the purpose of implementation of supervision of process of disclosure of information in the extracting industries according to requirements of IPDO;

the extracting industries - the industries connected with geological studying of subsoil, including trial development of mineral deposits of nation-wide value, mining of nation-wide value, realization of the got products in which activities are performed according to special permission to use of natural resources and the agreement on conditions of use of natural resources based on the agreement (agreement) on use of natural resources, and/or connected with activities for transportation for natural gas pipelines, oil and gas condensate, including for the purpose of transit;

the report of IPDO - the report which prepares the independent administrator by results of carrying out the analysis and reconciliation of information provided by subjects of managing which perform activities in the extracting industries, and receivers of payments, according to the specification and within IPDO;

the report on the received payments - the document containing summarized information on the payments paid or which are subject to payment to the receiver of payment by certain subject of managing who performs activities in the extracting industries, in the accounting period;

payment report for benefit of the state - the document containing summarized information on activities of the subjects of managing performing activities in the extracting industries, necessary for ensuring transparency in the extracting industries in the accounting period and also the disaggregated information on the taxes and fees, other payments paid or which are subject to payment to receivers of payments by such subjects in the accounting period;

the accounting period - calendar year for which data on financial condition and results of activities of the subject of managing which performs activities in the extracting industries are generalized;

Initiative of ensuring transparency in the extracting industries - the voluntary consolidation of the states created for the purpose of forming of the principles and requirements for ensuring transparency in the field of oil extraction, gas and other minerals, part in which from the states is taken by representatives of the governments, and also the companies performing activities in the extracting industries and non-governmental public organizations;

consolidated statement about payments for benefit of the state - the document containing information on activities of the subjects of managing under control to such parent entity performing activities in the extracting industries and information on the taxes and fees, other payments paid or which are subject to payment to receivers of payments by such subjects of managing consolidated at the level of parent entity in the obtaining industries;

the parent entity in the extracting industries - the company registered in Ukraine also exercises control over, at least, one subject of managing which performs activities in the extracting industries;

the independent administrator - the subject of managing who performs the analysis and reconciliation of information provided by subjects of managing which perform activities in the extracting industries and receivers of payments and provides services in preparation of the report of IPDO according to the specification;

the receiver of payments - the public authority, authority of the Autonomous Republic of Crimea or local government body receiving payments, and also any state or utility company, organization, the organization or economic society in which authorized capital more than 50 percent of shares (shares) belong to the state or territorial community, and also economic society 50 and more percent of shares (shares) of which belongs to other economic society in which authorized capital 100 percent of shares (shares) belong to the state or territorial community;

payment - any payment made by subject of managing which performs activities in the extracting industries, in cash or natural form for benefit of state or local budgets, funds of obligatory national social and pension insurance or the receiver of payments directly in connection with activities in the extracting industries namely:

nation-wide taxes and fees, local taxes, nation-wide fees;

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