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LAW OF UKRAINE

of June 5, 2003 No. 911-IV

About cost depletion of unpaid amounts of natural gas

(as amended of the Code of Ukraine of December 2, 2010 No. 2755-VI)

This Law determines legal and organizational basis of debt write-off of the companies of oil and gas complex, resulted from implementation in an inadequate way and not in full calculations of budgets of all levels for consumed natural gas and services in its transportation, heat energy and heatwater supply (on gas component).

This Law is directed to creation of conditions for stabilization of financial and economic condition of the companies of oil and gas complex to which substantial damages owing to untimely and not in full financings from budgets of all levels are caused: privileges, subsidies, difference in the price of natural gas and services in its transportation, heat energy and heatwater supply (on gas component), budgetary institutions and the organizations.

The purpose of this Law is implementation of mechanisms of debt write-off which will promote the prevention of bankruptcy of the companies of oil and gas complex for the circumstances which are not depending on them, improvement of their financial position.

Article 1. Determination of terms

In this Law terms are used in the following value:

the cost of unpaid amounts of natural gas is the debt for the consumed natural gas and services in its transportation connected with untimely and not in full payment by budgets of all levels of privileges, subsidies, differences in the price of natural gas and heat energy, heatwater supply (on gas component) and gas transportation services, financing of budgetary institutions and organizations and arisen for the period between date of consumption in 1995-1998 and the date of receipt of means for it and with change in the exchange rate of national monetary unit to US dollar for this period;

the companies of heat supply - the company of municipal power system, boiler rooms of industrial enterprises and other boiler rooms releasing heat energy for needs of the population, budgetary institutions and the organizations which contained at the expense of budgets of all levels.

Article 2. Law coverage

Operation of this Law extends to National joint stock company "Neftegaz of Ukraine"; subsidiary companies of National joint stock company "Neftegaz of Ukraine" - Gas of Ukraine subsidiary company, Ukrgazdobycha subsidiary company and its branches, Ukrtransgaz subsidiary company and its branches; The State joint-stock company "Chernomorneftegaz", Ukrneft Open joint stock company and its structural divisions, open joint stock companies on gas supply and the gasifications performing production, transportation and supply of natural gas in 1995-1998 for needs of the population, budgetary institutions and the organizations, the companies of heat supply and also on the companies for heat supply which rendered services in heat supply for the population, budgetary institutions and the organizations.

Article 3. Procedure and conditions of cost depletion of unpaid amounts of natural gas

1. To write-off cost unpaid is subject to suppliers of amounts of gas and cost unpaid to the companies of heat supply of heat energy (on gas component):

1) budgets of all levels for payment of privileges, subsidies, difference in the price between rates for the gas consumed by the population before suppliers of natural gas - open joint stock companies on gas supply and gasification;

2) budgets of all levels for payment of privileges, subsidies, difference in the price between rates for the heat energy consumed by the population before the companies for heat supply;

3) the organizations and the organizations financed from state and local budgets before suppliers of natural gas - open joint stock companies on gas supply and gasification;

4) the organizations and the organizations financed from state and local budgets before the companies for heat supply for the consumed heat energy;

5) the companies for heat supply before open joint stock companies on gas supply and gasification for the consumed natural gas and services in its transportation on production of the heat energy within outstanding amounts determined in subitems 2 and 4 of this part of Article;

6) open joint stock companies on gas supply and gasification before the creditors - Gas of Ukraine subsidiary company, Ukrtransgaz subsidiary company, Ukrgazdobycha subsidiary company, Ukrneft Open joint stock company, the State joint-stock company "Chernomorneftegaz" for the delivered natural gas;

7) Gas of Ukraine subsidiary company and Ukrtransgaz subsidiary company before National joint stock company "Neftegaz of Ukraine" for the delivered natural gas;

8) Ukrtransgaz subsidiary company before Ukrgazdobycha subsidiary company and Gas of Ukraine subsidiary company for the delivered natural gas;

9) National joint stock company "Neftegaz of Ukraine" before Ukrgazdobycha subsidiary company, the State joint-stock company "Chernomorneftegaz" and Ukrneft Open joint stock company for the delivered natural gas.

2. The cost of unpaid amounts of natural gas the budgets of all levels, organizations and the organizations financed from state and local budgets, is subject to write-off in the account and within earlier cancelled debt to suppliers - the organizations on which operation of this Law, on payments in the budget according to article 70 of the Law of Ukraine "On the Government budget of Ukraine for 2001" taking into account multistage system of passing of gas from the gas company to the consumer expatiates.

4. The debt which is written off according to parts two and third this Article is not subject to inclusion in gross incomes and expenses and is not subject to display in tax accounting of the value added tax of the companies and organizations performing such write-off.

5. The procedure for carrying out write-off according to this article of the Law is determined by the Cabinet of Ministers of Ukraine.

Article 4. Final provisions

1. This Law becomes effective from the date of its publication.

2. Ceased to be valid.

3. To the Cabinet of Ministers of Ukraine in three-months time from the date of entry into force of this Law:

approve procedure for cost depletion of unpaid amounts of natural gas;

provide offers on modification of legal acts of Ukraine in connection with adoption of this Law and bring the regulatory legal acts into accord with regulations of this Law;

adopt the regulatory legal acts necessary for execution of this Law.

 

President of Ukraine L. Kuchma

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info

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