The Committee on Anti-Corruption Policy considered the draft Law No. 3335-1 “On amendments to some legislative acts of Ukraine to improve activities of the National Agency of Ukraine for finding, tracing and management of assets derived from corruption and other crimes (abbr. - Asset Recovery and Management Agency or ARMA).

 

The purpose of this draft law is to create legal preconditions for increasing the transparency of the system of search and management of assets obtained from corruption and other crimes, implementation of such assets, increasing the institutional capacity and efficiency of the National Agency, increase of revenues to the state budget from the sale of assets managed by the National Agency, as well as the elimination of contradictions between the current acts in terms of search, management and sale of assets derived from corruption and other crimes.

The bill creates conditions for the sale of property at auctions, as openly as possible and with the involvement of the Prozorro system.

 

Among the key changes made to the bill: ARMA's ban on selling seized assets until a court ruling is issued, except for perishable property that quickly loses its value, or if the property owner has asked ARMA to sell it; added a rule according to which not only the prosecutor and the court may transfer the court decision to the ARMA for execution, but also the interested person; ARMA is not granted procedural status, but prosecutors should consult with the agency on the right to dispose of property.

 

 
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