LAW OF UKRAINE

of November 20, 2012 No. 5493-VI

About introduction of amendments to some laws of Ukraine of rather Guarantee fund of accomplishment of obligations according to warehouse documents on grain

The Verkhovna Rada of Ukraine decides:

I. Make changes to the following laws of Ukraine:

1. In the Law of Ukraine "About grain and the market of grain in Ukraine" (Sheets of the Verkhovna Rada of Ukraine, 2002, No. 35, Art. 258; 2004, No. 33-34, of Art. 403; 2005, No. 26, Art. 351; 2007, No. 12, Art. 104, No. 33, Art. 440; 2009, No. 27, Art. 350):

1) in Article 1:

a) add with Items 2-1, 2-2, 19-1 and 23-1 of the following content:

"2-1) owner of grain warehouse - the physical person - the entrepreneur which is the owner of the granary the member of complete, limited society, the additional liability company performing activities of grain warehouse or the participant of other types of societies (including the shareholder of joint-stock company) whose share exceeds 10 percent in the authorized capital of the legal entity - grain warehouse;

2-2) Guarantee fund of accomplishment of obligations according to warehouse documents on grain (further - the Guarantee fund) - the public specialized not entrepreneurial institution created for the purpose of providing and protection of the rights and legitimate interests of owners of warehouse documents on grain in case of insolvency of grain warehouse and performing functions of public administration in the field of guaranteeing accomplishment of obligations according to warehouse documents on grain";

"19-1) insolvency of grain warehouse - impossibility of grain warehouse which is participant (the temporary participant) of the Guarantee fund of accomplishment of obligations according to warehouse documents on grain, to perform accomplishment of the obligations to bailors according to warehouse documents on grain because of impossibility to return the amount of grain of the corresponding quality specified in warehouse documents and/or to compensate in full the cost of such grain irrespective of origins of this impossibility";

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