The Economic Policy Committee recommends the Parliament to support the President's Motions to the Law "On Amendments to several Legislative Acts of Ukraine regarding the Rights of Concession Holders"
Published on 15 December 2010, at 16:22
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The legislative act, adopted on 19
October 2010, supplements the Law "On Concession" with a new clause 214 concerning
the rights of concession holders. Thus, "the terms of the concession agreements
concluded under the applicable law are valid during the period of validity of
the agreement in case the legislation (except of tax, customs and monetary legislation,
and the laws on licensing of several types of economic activity) sets new terms
that worsen the conditions of the concession holders or restrict their rights,
unless the parties agreed to amend the terms."
The President of Ukraine believes that it contravenes
clauses 58 and 94 of the Constitution of Ukraine. Under Clause 94 of the
Constitution of Ukraine, the Law comes into force in ten days since it official
promulgation, but not earlier than the day of its publication.