The Bill amending the Land Code of Ukraine, submitted by the Cabinet of Ministers of Ukraine, was registered in The Verkhovna Rada of Ukraine.
Submission of the Bill (Reg.No. 4035) was caused by lack of legislative basis in the field of land relations regarding acquisition of the ownership right for the land plots by particular subjects of land relations and procedure of such acquisition. The Bill also aims at improvement of the procedure of sale of land plots out of land of State and municipal property.
The Bill envisages expansion of the list of persons liable to assume the ownership of land plots, elimination of obstacles in drawing foreign investments in the economy of Ukraine. The Bill suggests permitting the legal entities of the enterprises with foreign investments to assume the ownership of land plots.
The Bill does not include the statements regarding violation of rights and freedoms secured by the Convention on Human Rights, as well as basic freedoms pursuant to practice of European Court on Human Rights.
Implementation of the Bill does not require financial and other expenses. However, it will promote rise in amount of foreign investments in the economy of Ukraine.