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RESOLUTION OF THE CABINET OF MINISTERS OF UKRAINE

of June 23, 2021 No. 648

About approval of requirements to the applicant concerning solvency for implementation of the investment project with considerable investments

(as amended on 02-02-2024)

According to part three of article 7 of the Law of Ukraine "About the state support of investment projects with considerable investments in Ukraine" the Cabinet of Ministers of Ukraine decides:

Approve requirements to the applicant concerning solvency for implementation of the investment project with considerable investments which are applied.

Prime Minister of Ukraine

D. Shmygal

Approved by the Resolution of the Cabinet of Ministers of Ukraine of June 23, 2021 No. 648

Requirements to the applicant concerning solvency for implementation of the investment project with considerable investments

General requirements

1. These requirements establish criteria of solvency of the applicant for implementation of the investment project with considerable investments (further - the investment project).

Action of these requirements does not extend to projects which realization is enabled according to Procedure for preparation, realization, monitoring and completion of projects implementation of economic and social development of Ukraine, supported by international financial institutions, the Cabinet of Ministers of Ukraine approved by the resolution of January 27, 2016 No. 70.

2. In these requirements the term "mother company" is used in the value given in the Tax code of Ukraine, the term "institute of joint investment" - in the value given in the Law of Ukraine "About institutes of joint investment", other terms - in the value given in the Law of Ukraine "About the state support of investment projects with considerable investments in Ukraine".

3. The applicant shall correspond to at least one of criteria of solvency of the applicant for implementation of the investment project, determined by these requirements, namely:

to criterion of sufficiency of equity;

to criterion of sufficiency of pure operational cash flow;

to criterion of availability of financing sources for covering of considerable investments.

The criterion - sufficiency of pure investment cash flow is applied to institutes of joint investment instead of criterion of sufficiency of pure operational cash flow.

For the specified criteria the minimum measure values taking into account planned amount of considerable investments into investment objects during the term of implementation of the investment project are established. In case when the applicant already performs considerable investments into investment objects before date of application according to law provisions, such investments are excluded from planned amount of considerable investments on the basis of which the minimum measure values for criteria concerning solvency of the applicant are established.

4. Compliance to criteria of solvency of the applicant for implementation of the investment project proves to be true by provision as a part of the request of supporting documents in paper and electronic form in Ministry of Economics or electronically with use of the Single state web portal of electronic services.

5. The documents issued by competent authorities of foreign state shall be legalized if other is not provided by the international treaty of Ukraine, and are provided together with the translation into Ukrainian certified in accordance with the established procedure.

6. If applicants are several legal entities who together submitted the application, criteria concerning solvency of the applicant are applied to all legal entities who will provide financing of the investment project at the expense of own or raised funds, in total as to whole.

The documents specified in subitems 2 and 3 of Item 8 of these requirements move concerning legal entities whose supporting documents are used for confirmation of conformity to the criteria specified in Items 10-13-3, and concerning the legal entity (legal entities) who will provide (to provide) financing of the investment project in confirmation of conformity to the criteria specified in Items 16-24 of these requirements.

The documents specified in subitems 4-6 of Item 8 of these requirements can move one or several legal entities who together submitted the application and who will provide financing of the investment project only for confirmation of conformity of criterion of availability of financing sources for covering of considerable investments according to Items 14-15 of these requirements.

The legal entities who submitted the joint application shall submit as a part of the request properly verified copy of the agreement on creation of society or the foundation agreement, or the corporate agreement concerning the investor with considerable investments (in case the investor with considerable investments is educated for date of application), or agreements (agreements) on cooperation between the legal entities who submitted the application which is signed by authorized representatives of all legal entities who submitted the application and contains at least such information:

obligations of each of the legal entities who submitted the application to cooperate among themselves in connection with application, and also together to implement the investment project and to satisfy conditions of the special investment agreement, in case of receipt of the conclusion about feasibility of implementation of the investment project and the conclusion of the special investment agreement; and

details of all legal entities who submitted the application (the name of the legal entity, identification code according to EGRPOU, the location); and

data on shares in the authorized capital, shares (as a percentage) in the authorized capital of the investor with considerable investments which will be owned by each legal entity who submitted the application or which are owned by each legal entity (in case the investor with considerable investments is educated for date of application).

7. For the purposes of confirmation of conformity of the applicant to criteria concerning its financial capability for implementation of the investment project which are determined by Items 10-15 of these requirements the applicant has the right to use supporting documents of mother company and/or the faces tied with the applicant the control relations. (To provide) with the legal entity (legal entities) who will provide financing of the investment project at the expense of own or raised funds, there can be the applicant, mother company of the applicant, the face tied with the applicant the control relations (further - the legal entity (legal entities) who will provide (to provide) financing of the investment project).

The paragraph two is excluded according to the Resolution of the Cabinet of Ministers of Ukraine of 02.02.2024 No. 112

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