The Bill (Reg. No. 3678) aims at determining the grounds and procedure of assignment of natural person´s name to the legal entities and properties.
According to the Bill, "The names of natural persons are assigned to immortalize the persons who: made a considerable contribution to the organization of Ukrainian State, maintenance of international peace and security, extension of international authority of Ukraine; performed a heroic deed for the sake of Motherland; made an outstanding personal contribution to the development of science, education, culture and other fields of social life." The name of a natural person can be assigned only after his/her death. As a rule, legal entities and their properties can receive a name of the natural person whose activity was connected with that legal entity or property.
The Bill envisages the following subjects who can assign the natural persons´ names: The President of Ukraine, central executive bodies, the Cabinet of Ministers of Ukraine, the ministries, the Verkhovna Rada of the Autonomous Republic of Crimea, regional, city, village, community councils.
The Bill also establishes relevant procedures for considering the submissions about assignment of a natural person´s name by authorized subjects, adoption of the relevant resolution concerning assignment, preservation, alteration or refusal from the name assigned to the legal entity.