LAW OF UKRAINE

of June 24, 2004 No. 1877-IV

About the state support of agricultural industry of Ukraine

Section I General provisions

Article 1. Purposes and scope of the Law

1.1. This Law determines bases of state policy in budget, credit, price, regulatory and other spheres of public administration by production incentive of agricultural products and development of the agrarian market, and also ensuring food security of the population.

1.2. This Law does not regulate the questions determined by the Land code of Ukraine.

1.3. This Law does not regulate questions of the state support of insurance of agricultural products.

Article 2. Determination of terms

For the purposes of this Law terms are used in the following value:

2.1. The Agrarian exchange - commodity exchange which functions according to the Law of Ukraine "About commodity exchanges" taking into account provisions of this Law.

2.2. The agrarian market - set of the legal relationship connected with the conclusion and accomplishment of civil agreements on agricultural products.

2.3. The term "underlying asset" in this Law is applied in the value given in the Law of Ukraine "About the capital markets and the organized goods markets".

2.3-1. The regular biddings - the conclusion of transactions each trading day within calendar year, including commodity derivative contracts which underlying asset are agricultural products and/or basic indicator of which is the price of agricultural products or of several types of agricultural products (index).

2.4. Clearing activities for results of the regular auction held on the Agrarian exchange are performed according to the procedure, established By the law Ukraine "About the capital markets and the organized goods markets".

2.5. No. 985-IX is excluded according to the Law of Ukraine of 05.11.2020

2.5-1. No. 985-IX is excluded according to the Law of Ukraine of 05.11.2020.

2.6. No. 985-IX is excluded according to the Law of Ukraine of 05.11.2020.

2.7. The marketing period - the period which is beginning since month in which it begins to be delivered (to be on sale) separate type of products of crop production of the corresponding harvest, and coming to an end with the last date preceding month in which it begins to be delivered (to be on sale) the same type of products of crop production of the following harvest. For other types of agricultural products the marketing period is equal to one fiscal (financial) year.

For the purpose of financial and budgetary planning the marketing period shall be multiple to complete calendar month.

2.8. Local requirements - the needs of territorial bulk for amounts of agricultural products for their consumption by budgetary institutions and organizations which content is performed at the expense of means of the local budget within own or delegated powers of such territorial bulk.

2.9. Monitoring of the agrarian market - system of regular observations in the agrarian market which is performed during the marketing period by collection, processing, the analysis and illumination of price information of demand and amounts of commodity offers on agricultural products and products of its conversion for the purpose of the characteristic of current status of the market, forecasting and preparation of offers.

2.10. Immediate delivery (further - spot) - delivery of goods in the organized agrarian market on the conditions providing transfer into the ownership or the order of such goods to the partner within two working days (if bigger term is not provided by rules of functioning of the Agrarian exchange) following behind day of the conclusion of the relevant civil agreement in case of accomplishment by such partner of its conditions.

2.11. Force majeure circumstances - the circumstances which arose owing to decision making of legislative or normative and legal nature, obligatory for subjects of the agrarian market according to the legislation, or arose owing to natural disaster, including the fire, flood, drought, frosts, hail, earthquake, military operations or public disorders and also on other circumstances which could not be managed by the agreement party (contract), including yield loss or its parts owing to adverse weather conditions, the sudden termination of supply of water, heat, the electric power, oil products or the gas which is not connected with failure to pay their cost.

2.12. The organized agrarian market - set of the legal relationship connected with the conclusion and accomplishment of civil agreements which subject are agricultural products, on the standardized conditions and details the exchange agreement (contract) and to rules of the Agrarian exchange.

2.13. Food security - the security of vital interests of the person which is expressed in guaranteeing by the state easy economic access of the person to food for the purpose of maintenance of its regular vital activities.

2.14. Risks of the organized agrarian market - the risks of failure to carry out of conditions the exchange agreement (contract) which are subdivided on system and standard:

a) systemic agrarian risk - risk of mass failure to carry out of conditions the exchange agreement (contract) arising owing to action of force majeure circumstances which cannot be provided both with exchange guarantees, and the measures of the state price regulation determined by this Law;

b) standard agrarian risk - the risk which is not system and provided with system of exchange guarantees and/or measures of the state price regulation.

The specified classification of risks is used only for the purposes of this Law.

2.15. Agricultural products (agricultural goods) - the goods specified in the foreign trade activities groups 1-24 UKT according to the Law of Ukraine "About the Customs tariff of Ukraine" if at the same time such goods (products) are grown up, fattened, caught, gather, made, made, processed directly by the producer of these goods (products), and also products of processing and conversion of these goods (products) if they were made on own or leased capacities (areas).

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