According to the Bill (Reg.№2638) it is recommended that the principles of the Economic and Civil Codes of Ukraine, Laws "On Finance Services and State Regulation of Finance Services Markets" and "On Banks and Banking Activity" should be coordinated. According to the Bill it is planned that "not only banks but other finance estates will have opportunity to perform factoring operations".
The Members of the Committee stressed that the Bill belongs to the priority sphere concerning the adaptation of Ukrainian System of Laws to the European Union System of Laws and is in operation of Directives 2006/48/EU of European Parliament from the 14th of June 2006 on the start in the credit estates activity.
The principles of the Bill do not contradict with the norms of European Law. The issue on factoring service, the order of the creditor obligation and debtors objection are determined by the inner System of Laws of the countries-members of European Union.