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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 May 18, 2000 No. 1741-III

About features of privatization of the companies which belong to the sphere of management of the Ministry of Defence of Ukraine

(as amended on 07-07-2011)

This Law determines features of legal, economic and organizational regulation of privatization of property of the companies which belong to the sphere of management of the Ministry of Defence of Ukraine, procedure for use of the means received from privatization, and feature of activities of the privatized companies in which authorized capital there is the state share.

Article 1. Law coverage

Operation of this Law extends to the companies which treat the sphere of management of the Ministry of Defence of Ukraine (further - the companies of the Ministry of Defence of Ukraine), except for the state companies and the companies included in the list of objects of the right of state-owned property which are not subject to privatization, approved by the Verkhovna Rada of Ukraine.

Corporatisation and privatization of the companies of the Ministry of Defence of Ukraine is carried out according to the laws and other regulatory legal acts concerning privatization and corporatisation taking into account the features provided by this Law.

Article 2. Privatization purposes

Privatization of the companies of the Ministry of Defence of Ukraine is carried out as exception for the purpose of improvement of their financial and economic condition, investment attraction and receipt of additional resources for technical retrofitting and ensuring financing of activities of the Armed Forces of Ukraine, increase in their fighting potential.

The reshaping of the privatized companies of the Ministry of Defence of Ukraine is performed only according to the decision of the Cabinet of Ministers of Ukraine.

Article 3. Principles of privatization

Privatization of the companies of the Ministry of Defence of Ukraine is performed on the basis of the following principles:

priority of state interests and respecting the rule of law in the course of privatization;

determination by the Verkhovna Rada of Ukraine on representation of the Cabinet of Ministers of Ukraine of the list of the companies of the Ministry of Defence of Ukraine which can be privatized; state regulation and control;

orientation of productive activity of the privatized companies to ensuring needs of defense and use of property of these companies only for purpose;

provision of the priority right to citizens of Ukraine on share acquisition and provision of privileges on share acquisition to members of labor collectives of the companies which are privatized, to the military personnel, employees of these companies who retired, and persons equated to them according to the laws on privatization;

paid nature of alienation of state-owned property;

obligation of preserving at least 51 percent of shares in state-owned property and non-admission of transfer of share of state-owned property to operational management to private structures;

observance of the antitrust law;

preserving the mobilization reserve determined by the Cabinet of Ministers of Ukraine and updating of production capacities of the privatized companies;

transparency and application of competitive methods of privatization;

creating favorable conditions for investment attraction;

complete, timely and reliable informing citizens on procedure for privatization of objects, their financial and property condition.

Article 4. Subject to privatization

Subject to privatization are the shares belonging to the state in authorized capitals of the open joint stock companies created in the course of corporatisation of the companies of the Ministry of Defence of Ukraine.

Article 5. Subjects of privatization

Subjects of privatization are:

Fund of state-owned property of Ukraine, its regional departments and representations;

Ministry of Defence of Ukraine;

buyers (their representatives).

Article 6. Powers of the Ministry of Defence of Ukraine in the course of privatization

The Ministry of Defence of Ukraine in the course of privatization of the companies of the Ministry of Defence of Ukraine within the competence:

performs powers of the founder of the open joint stock companies created in the course of corporatisation of the companies of the Ministry of Defence of Ukraine and also performs in the course of privatization of function on management of shares, belonging to the state in authorized capitals of open joint stock companies;

changes organizational form of the companies in the course of corporatisation;

creates the commissions on corporatisation together with Fund of state-owned property of Ukraine.

Article 7. Determination of the companies which are subject to corporatisation and privatization

Based on the state program of privatization the Ministry of Defence of Ukraine in coordination with Fund of state-owned property of Ukraine and the central executive body concerning economic policy determines the list of the companies of the Ministry of Defence of Ukraine which are subject to corporatisation, and schedules of its carrying out and represents them to the Cabinet of Ministers of Ukraine. The Cabinet of Ministers of Ukraine introduces the list of the companies of the Ministry of Defence of Ukraine which can be privatized, on approval to the Verkhovna Rada of Ukraine.

Article 8. Corporatisation of the companies

Corporatisation of the companies of the Ministry of Defence of Ukraine is carried out by their transformation to open joint stock companies.

Founder of the open joint stock companies created according to this Law on behalf of the state is the Ministry of Defence of Ukraine.

Article 9. Commissions on corporatisation

The staff of the commission on corporatisation of the companies of the Ministry of Defence of Ukraine affirms the Ministry of Defence of Ukraine on representation of the director.

The commissions are included on the parity principles representatives of Fund of state-owned property of Ukraine (its regional department or representation), the Ministries of Defence of Ukraine, the bank institution serving the company, trade-union committee or other representative labor collective of body.

Powers, procedure for creation and activities of the commission on corporatisation are determined by the Ministry of Defence of Ukraine in coordination with fund of state-owned property of Ukraine.

On working hours of the commission on corporatisation for her members the place of employment and average monthly earnings remains.

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