The Committee on Finance and Banking recommends that the Parliament rejects the Bill on the State Land Bank of Ukraine

25 June 2010, 11:43

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The bill (Reg. No.4337) defines the term "a State Land Bank", its functions and basic principles of activity, as well as the order of crediting the agricultural producers and order of implementation of the right of pre-emption of the land plots of agricultural purpose for the commercial and non-commercial farming.

 

In the course of the Committee sitting it was indicated that implementation of the bill required extra expenses from the State Budget for the formation of the statute capital of the State Land Bank of Ukraine (minimal rate is supposed to comprise EUR 10 million). These funds are suggested to be included to the expenses of the stabilization fund. Moreover, the part of the "Oshchadbank" premises shall be transferred to the State Land Bank.

 

The People´s Deputies emphasised unacceptability of the bill, as the formation of the bank by means adopting the law contradicts the bank legislation (pursuant to clause 7 of the Law "On Banks and Banking Activity", the state bank is founded on the grounds of the resoloution of the Cabinet of Ministers of Ukraine).