The Cabinet of Ministers of Ukraine has submitted a bill to the Verkhovna Rada that prohibits the return of PrivatBank to its former owner Igor Kolomoisky.
Now the text of the bill has not yet been published on the website of BP, but the Economic Truth is at the disposal of.
A draft law entitled “On Amending Certain Legislative Acts of Ukraine on Certain Issues of the Functioning of the Banking System” changes the legislation concerning the withdrawal of insolvent banks from the market.
In particular, the document provides for innovations regarding situations when the state represented by the Ministry of Finance may become the owner of an insolvent bank.
Such changes are made to the Law of Ukraine " 1 mentioned law. It is in accordance with article 41. 1 mentioned law "
According to the interlocutor in the Cabinet, it is the changes in this article that prohibit the owners of insolvent banks from getting financial institutions back into property.
However, the EP did not find in the articles 41, 41. 1 changes to the direct prohibition on the return of insolvent banks to former owners.
Among other innovations of the law:.
The section on substantial participation in the bank’s capital and its ownership structure has been rewritten. Everything is quite tough and under the control of the NBU. The procedure for acquiring / increasing significant participation is spelled out in detail. If the increase / acquisition of substantial participation has not been agreed with the National Bank, it may temporarily deprive such owner of the right to vote and / or demand the alienation of the relevant shares of the bank.
Bank liabilities are prescribed to comply with NBU standards - liquidity, capital, etc..
NBU gets the right to demand a change in the composition of the council or board of the bank if the NBU considers that these persons are ineffective. Bank executives are committed to preventing a conflict of interest.
The Bank undertakes to determine the related parties for transactions with them.. NBU in the exercise of banking supervision has the right to determine related parties.
The concept of bank secrecy is clarified (the decision to declare the bank insolvent is BC), the conditions for the dissemination of information that relates to BC are prescribed. Disclosure of BC by the National Bank is possible in three cases: at the request of an individual at the request of a legal entity (in certain circumstances), by a court decision.
In the process of appealing against a decision of the NBU, the plaintiff has the right to compensation for “real damage” caused to him.