LAW OF UKRAINE

of March 23, 2017 No. 1983-VIII

About modification of some legal acts of Ukraine concerning increase in level of corporate management in joint-stock companies

The Verkhovna Rada of Ukraine decides:

I. Make changes to such legal acts of Ukraine:

1. Item 4 of part one of Article 12 of the Economic Procedure Code of Ukraine (1992, No. 6, the Art. 56) after words of "activities of such person" to add sheets of the Verkhovna Rada of Ukraine with words "the rights and obligations of members (founders, shareholders, members) of such person".

2. Part the thirteenth Article 123 of the Land code of Ukraine (2002, Art. No. 3-4, 27) to add sheets of the Verkhovna Rada of Ukraine with the offer of the following content: "Change like joint-stock company or transformation of joint-stock company to other economic Society is not the basis for refusal in approval of the project of land management or technical documentation on land management".

3. In the Civil code of Ukraine (The sheet of the Verkhovna Rada of Ukraine, 2003, Art. No. No. 40-44, 356):

Part the second articles 586 after the words "it is not established by the agreement" to add 1) with the words "or law";

2) Chapter 72 after words "Chapter 72." To add the bank account with the name of paragraph 1:

"§1. General provisions about the bank account";

Part third of Article 1066 to state 3) in the following edition:

"3. The bank has no right to determine and control the directions of use of money of the client and to set other restrictions of its right on the order with money which are not provided by the law, the contract between bank and the client or conditions of encumbrance which subject are property rights on the money which is on the bank account";

"The law or the contract between bank and the client" shall be replaced with words 4) in part two of Article 1071 of the word "the law, the contract between bank and the client or conditions of encumbrance which subject are property rights on the money which is on the bank account";

Part the second Article 1072 to add 5) with the paragraph the seventh such content:

"In case of simultaneous receipt in bank of the settlement document provided according to conditions of encumbrance which subject are property rights on the money which is on the bank account and other settlement document based on which cash write-off is performed bank charges funds off customer account out of turn according to the settlement documents provided in accordance with the terms of such encumbrance. In case of simultaneous receipt in bank of several settlement documents provided in accordance with the terms of encumbrances which subject are property rights on the money which is on the bank account bank charges funds off customer account according to such settlement documents according to priority of the corresponding encumbrances";

Article 1074 to state 6) in the following edition:

"Article 1074. RESTRICTIONS of the RIGHT of the ORDER with the ACCOUNT

1. Restriction of the rights of the client concerning the order is not allowed by the money which is on its account, except cases of restriction of the right of the order with the account by a court decision or in other cases established by the law or conditions of encumbrance which subject are property rights on the money which is on the account and also in case of stop of financial transactions which can be connected with legalization (washing) of the income gained in the criminal way, or financing of terrorism and financing of distribution of weapons of mass destruction provided by the law. The bank has no right to establish prohibition on encumbrance establishment, but can establish reasonable remuneration.

2. The client has no right without written consent of obremenitel to provide to bank of the order, and the bank has no right to carry out them if as a result the size of money on the account is less than the size determined in accordance with the terms of encumbrance which subject are property rights on the money which is on the corresponding bank account.

3. After obtaining by bank of the written notice of obremenitel of availability of the bases for the address of collection regarding key which property rights on the money which is on the bank account, the client on the corresponding bank account agreement to the bank of the order having no right to provide without written consent obremenitel are and the bank has no right to carry out them if as a result the size of money on the account is less than the size of the requirement of obremenitel provided with encumbrance. The bank does not check availability of the bases specified in the notification received by it from obremenitel.

4. If at the time of receipt of the order of the client by bank the bank was in writing notified by the client on encumbrance existence, bank which violated requirements of parts two and third this Article, answers to obremenitel in the amount of the money charged by it off account in pursuance of the order of the client.

5. The consent of obremenitel provided by parts two and third this Article can be expressed in general form and/or contain conditions under which such consent is considered provided. Such consent can be included in terms of the contract to which encumbrance of property rights on the money which is on the bank account is established";

Part one of Article 1075 to state 7) in the following edition:

"1. The bank account agreement is terminated according to the statement of the client at any time. The client has no right without the consent of obremenitel by agreement with bank or unilaterally, including by unilateral refusal of obligation fulfillment, to terminate bank account agreement or to make other actions having the investigation termination of the contract if property rights on the money which is on the corresponding account are pledge subject if other is not provided by encumbrance conditions. The transactions made with violation of this requirement are insignificant.

The consent of obremenitel can be expressed in general form and/or contain conditions under which such consent is considered provided. Such consent can be included in terms of the contract to which encumbrance of property rights on the money which is on the bank account is established";

8) to add with Article 1075-1 of such content:

"Article 1075-1. MODIFICATION OF the BANK ACCOUNT AGREEMENT, PROPERTY RIGHTS ON the MONEY ON WHICH are the ENCUMBRANCE SUBJECT

1. Any changes in bank account agreement, property rights on money on which are encumbrance subject (except the changes specified in part two of this Article), are brought only on condition of provision of the prior written consent on such changes by obremenitel.

The consent of obremenitel can be expressed in general form and/or contain conditions under which such consent is considered provided. Such consent can be included in terms of the contract to which encumbrance of property rights on the money which is on the bank account is established.

2. Changes in bank account agreement, property rights on money on which are pledge subject, can be brought without the consent of obremenitel if such changes do not limit the rights of obremenitel arising based on encumbrance. In case of dispute the obligation of proof that corresponding changes in the agreement of such bank account do not infringe at the right of obremenitel is assigned to the client.

3. In case of violation of requirements of this Article the client shall pay to obremenitel the damages caused by such violation. If at the time of introduction of corresponding changes the bank was in writing notified by the client on existence of encumbrance which subject are property rights on the money which is on the corresponding account obligation on compensation of damage bank and the client bear solidary";

Article 1076 to add 9) with part three of the following content:

"3. The bank shall according to the written requirement of obremenitel with encumbrance which subject are property rights on the money which is on the bank account to provide it information on balance in cash on the corresponding account, transaction on them, encumbrances concerning which in bank messages arrived and/or which are registered by bank, other restrictions of the right of the order with the account in time for which such information is provided to the client if the right of obremenitel to receipt of the relevant information is provided by the transaction based on which there is such encumbrance";

10) Chapter 72 to add with the paragraph 2 following of content:

"§2. Account of conditional storage (eskro)

Article 1076-1. AGREEMENT of the ACCOUNT of CONDITIONAL STORAGE (ESKROU)

1. Under the agreement of the account of conditional storage the bank shall accept and enlist (eskroa) into the account of conditional storage (eskro) opened for the client (account holder), the money received from the account holder and/or from the third parties and to transfer such funds to person (persons) specified by the account holder (the beneficiary or beneficiaries) or to return such means to the account holder in case of approach of the bases provided by the agreement of the account of conditional storage (eskro).

2. If other is not provided by the agreement of the account of conditional storage (eskro), the bank has the right to use money on the account of conditional storage (eskro), guaranteeing timely transfer of such means to the beneficiary (beneficiaries) or return of such means to the account holder in accordance with the terms of the agreement of the account of conditional storage (eskroa).

3. Provisions of paragraph 1 of this Chapter are applied to the relations of the parties in connection with opening, servicing and account termination of conditional storage (eskro) if another is not established by this paragraph and does not follow from content of legal relationship between bank, the account holder and the beneficiary.

Article 1076-2. ACCOUNT TRANSACTIONS of CONDITIONAL STORAGE (ESKROU)

1. On the account of conditional storage (eskro) transactions on transfer received by bank from the account holder and/or from the third parties of money which in case of approach of the bases defined by the agreement of the account of conditional storage (eskro) are intended for transfer to the beneficiary, and also transaction on transfer of such means to the beneficiary or return to their account holder in accordance with the terms of the agreement of the account of conditional storage (eskroa) are carried out only. In cases, stipulated in Clause 1076-6 of this Code, on the account of conditional storage (eskro) the transactions connected with the address of collection on property rights on the money which is on the account of conditional storage (eskro), or rights to claim of the account holder or the beneficiary in bank based on the agreement of the account of conditional storage (eskro) are also carried out.

2. Transfer of money into the account of conditional storage (eskro) is performed one-timely or periodically according to the procedure, established by the agreement of the account of conditional storage (eskro).

3. In case of approach of the bases provided by the agreement of the account of conditional storage (eskro), the bank shall in the time established by the agreement (in case of its absence - within five working days from the date of approach of the corresponding bases) to transfer the amount which is on the account of conditional storage (eskro), the beneficiary. The agreement of the account of conditional storage (eskro) can provide transfer to the beneficiary of the amount which is on the account of conditional storage (eskro), parts depending on approach of the bases specified in the agreement.

4. The agreement of the account of conditional storage (eskro) can provide the bases in case of which approach all amount which is on the account of conditional storage (eskro), or its part is subject to return to the account holder.

Article 1076-3. CHECK of the BASES FOR MONEY TRANSFER

FROM THE ACCOUNT OF CONDITIONAL STORAGE (ESKROU)

1. If the agreement of the account of conditional storage (eskro) provides to bank of the documents confirming approach of the bases for transfer to the beneficiary or person of the money which is on the account of conditional storage (eskro) specified to them or return of such means to the account holder, the bank checks such documents for compliance to terms of the contract of the account of conditional storage (eskro) only on external signs if other is not provided by the law or the agreement of the account of conditional storage (eskro).

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