Parliament returns to discussion of the draft law “On Deoligarchization”

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Parliament returns to the discussion of the draft law “On Deoligarchization”. The bill initiated in the Parliament will be considered by the committee on legal issues in the second reading article by article at a meeting on 11 November.

The project was developed on the example of the law of Ukraine of similar content and essentially repeats the norms of the Ukrainian law.

According to the draft, a person with significant economic and political weight in public life – an oligarch – is considered to be an individual who simultaneously meets at least three of the following criteria:

a) participate in political life;

b) has a significant influence on the media;

c) is the ultimate beneficiary of that entrepreneurial legal entity that occupies a dominant position in the market and maintains or improves this position within 1 year;

d) the confirmed amount of assets of him and those entrepreneurial legal entities where he is a beneficiary, as of January 1 of the relevant year, is 1,000,000 times the subsistence minimum established for able-bodied persons.

According to the bill, the oligarchs will be included in a special register. The rules related to the register, including the rules for its creation and maintenance, will be approved by Parliament. The creation and maintenance of the register is provided by the apparatus of the parliament.

According to the bill, a person recognized as an oligarch, whose data will be entered into the relevant register, is limited in certain financial activities. In particular:

Making donations from own funds, performing works, providing goods, services or cash in support of political parties through related persons and / or such legal entities where he is the ultimate beneficiary, performing works, providing goods or services; also, in accordance with the Electoral Code, donations to the electoral fund of candidates (except for their own electoral fund) and financing of political parties during the electoral process.
In the process of privatization of large-scale facilities, be the buyer (beneficiary of the buyer);
Financing any political campaign, holding meetings or demonstrations with political demands.
According to the draft, the law “On Deoligarchization” will lose its force 10 years after its implementation.





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