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LAW OF UKRAINE

of March 13, 2012 No. 4498-VI

About modification of some legal acts of Ukraine concerning enhancement of management of objects of state-owned property

The Verkhovna Rada of Ukraine decides:

I. Make changes to the following legal acts of Ukraine:

1. Paragraph one of part one of article 164-2 of the Code of Ukraine about administrative offenses (1984, appendix to No. 51, by the station 1122) after words of "material values" to add sheets of the Supreme Council of USSR with the words "untimely provision for consideration, approval or approval of the annual financial plan of the company of public sector of economy and the report on its accomplishment".

2. In the Economic code of Ukraine (The sheet of the Verkhovna Rada of Ukraine, 2003 No. No. 18-22, of the Art. 144):

Part the seventh Article 74 to state 1) in the following edition:

"7. The state unitary commercial enterprise can be transformed to the state joint-stock company which 100 percent of shares belong to the state, according to the procedure, established by the Cabinet of Ministers of Ukraine";

2) in Article 75:

the second to state part in the following edition:

"2. The main planned document of the state commercial enterprise is the financial plan according to which the company gains income and performs expenses, determines amount and the direction of means for accomplishment of the functions for year according to constituent documents.

The financial plan is subject to approval till September 1 of the year preceding planned:

the companies which are subjects of natural monopolies, and the companies which planned settlement amount of net profit exceeds 50 million hryvnias - the Cabinet of Ministers of Ukraine;

other companies - bodies which management sphere they treat.

The companies of power industry which licensed activities are regulated by approval by the national commission performing state regulation in the field of power constitute financial plans taking into account the approved this commission of structure of rates for electrical and heat energy. Financial plans of such companies are subject to approval till December 31 of the year preceding planned.

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