The Bill (Reg.№2244) envisages the Amendments to the laws "On Finance0Credit Mechanisms and Property Managing during the House Building and Operations with Fixed Property", "On Advertisement" and "On Finance Services and State Regulations of Finance Services Markets" with the aim to provide the protection of the investors rights and strengthening of the state control for this market.
During the discussion the members of the Committee stressed that the majority of the propositions were already taken into the consideration in the Law "On Amendments to certain Legislative Acts of Ukraine re the Improvement of the Finance Mechanisms during the investment in the House Building" and a number of the principles of the Bill were reflected in the Bill Reg.№2464 that was adopted as a Basis and is being prepared for the second reading.
The amendments should be introduced to the articles 13, 16 and 17 of the mentioned law that gives the opportunity to the mandatory to break the agreement on the participation in FFB and return mo money grounded by any evident matter. The Committee deems that it may cause "good basis for the conmen on the part on unfair mandatory". Moreover it was stressed that the term "evident matters" does not exist in Ukrainian System of Laws.
The members of the committee deem that "the Bill would create unparalleled data base that should be confidential and in order the register works, the access to it should be almost unlimited".