Adopted as a basis the draft Law No. 4546 “On Amending Certain Legislative Acts of Ukraine to Improve the Mechanism for Removing Banks from the Market and Satisfying the Demands of the Creditors of these Banks".
The draft law is aimed at improving the effectiveness of removing bankrupt banks from the market, preservation of their assets and satisfaction of the demands of as many as possible creditors of banks being removed from the market, improves the legal protection of the employees of the Deposit Guarantee Fund and the members of its Administrative Council, empowers the Fund to initiate civil, administrative, criminal or arbitration proceedings on recovery of damages resulting from nationalisation, expropriation of property, requisition, destruction, depreciation of assets of a bank as a result of hostilities, armed conflicts, civil uprising; relieves the Fund in certain cases from paying court and administrative fees and stamp duty.
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