News 2 - The Verkhovna Rada of Ukraine adopted the Law on Supplements to certain Legislative Acts of Ukraine (re Prohibition for Financial Institutions to raise the Rate of Interest and other Payments envisaged by the Credit Agreement unilaterally) - Verkhovna Rada of Ukraine

The Verkhovna Rada of Ukraine adopted the Law on Supplements to certain Legislative Acts of Ukraine (re Prohibition for Financial Institutions to raise the Rate of Interest and other Payments envisaged by the Credit Agreement unilaterally)

Published on 21 January 2010, at 10:16

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Pursuant to the Law, financial institutions are prohibited to raise the rate of interest due to the credit agreement unilaterally.

The Law settled the issue concerning prohibition for financial institutions to unilaterally raise the rate of interest and other payments envisaged by the credit agreement in a complex way, by introducing amendments both to the Law "Financial Services and State Regulation of Financial Services Markets" and to the Civil Code of Ukraine.

A relevant Bill was registered under Reg. No.3524-1.

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