The Committee on Finance and Banking, Taxation and Customs Policy recommends the Parliament to adopt the Law "On Amendments to Several Legislative Acts of Ukraine regarding Regulation of Legal Relations between the Creditors and Receivers of Financial Services" adjusted for the President's Proposals

09 September 2011, 15:08

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The primary purpose of the law (Reg. No.7351) is to improve normative regulation to protect the rights of creditors, bank depositors and consumers of financial services and reduce the risk rates in the financial system, as well as the segment of distressed assets in bank portfolios.

 

The President of Ukraine suggested the following:

 

correcting the text of amendments to the Criminal Code of Ukraine, excluding the reference to the subject of crime;

 

changing the reference to "legislation", whereby the guilty person shall bear responsibility, into reference to "the Law."

 

The People´s Deputies are convinced that proposals regarding amendments to the Law "On Reestablishing Debtor Solvency or declaring Bankruptcy" refer to the state banks according to certain categories of cases and do not influence activity of the banking system in general.