The Law amends the Civil and the Economic Codes of Ukraine, the Laws "On State Registration of Legal Entities and Sole Proprietors", "On Business Entities", "On Joint-Stock Companies", permitting establishment of legal entities under model statute to simplify the procedure of their state registration and also cut down on the financial expenses on the part of legal entities promoters.
Namely, the Economic Code is supplemented with the principles, whereby "an economic entity can be set up and perform its activity under model statute approved by the Cabinet of Ministers of Ukraine which is not a foundation document", and "a promoter of a legal entity set up under module statute can affirm the statute which is a foundation document and act on its basis."
The draft is registered under Reg. No. 8146.