The Bill (Reg. No.2143) defines legal and economic principles of organization and operation of land market, and regulates relations related to the provision of legal interests of State and other subjects of legal relations, in order to create conditions for implementation of constitutional rights of land ownership.
Inter alia, the Bill envisages that "the sale of land plots in public or municipal ownership and the lease right is to be performed by the Cabinet of Ministers of Ukraine, the Council of Ministers of the Autonomous Republic of Crimea, the local self-government bodies, the local State administrations, the public bodies on privatization, and the central executive body in charge of land resources, within the scope of authorities, defined by the Land Code of Ukraine".
The Bill establishes that "the sale of land plots of agricultural designation in public ownership out of reserve lands which do not comprise buildings, edifices and other objects of real estate, is to be performed by the central executive body on land relations solely by auction".