The legislative act introduces amendments to the Laws "On Licensing of certain Types of Economic Activity", "On Licensing System in the Field of Economic Activity" and certain other laws to enhance the conditions for conducting economic activity in Ukraine.
Pursuant to the Law, licensing terms oblige the subject of entrepreneurship to notify the licensing body concerning alteration of data in the documents attached to the appeal for license issue.
Pursuant to the legislative act, a license for certain type of economic activity is issued for unlimited period. On the grounds of the appeal of a specially authorized body in charge of licensing, the Cabinet of Ministers is authorized to limit the period of license for a certain type of economic activity at least for five years.
According to the Law, the licensing documents shall be issued within ten working days, unless otherwise specified by the Law.
A relevant Bill was registered under Reg. No. 5235.