The Verkhovna Rada of Ukraine adopted the Bill on Amendments to several Legislative Acts of Ukraine regarding Price Formation (re Strengthening of the Control over the Prices at the Consumer Market)

17 December 2010, 12:56

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The bill (Reg. No.7264) presupposes dynamic response of the executive power bodies to the changes in the situation with pricing under the conditions of the economic crisis, increases the responsibility of the employees of the business entities for the violation of the laws on price and price formation, and extends its effect on the sole proprietors.

 

Pursuant to the bill, the Law "On Price and Price Formation" shall determine its effect on the executive power bodies, the local self-government bodies and the business entities operating in the territory of Ukraine.

 

The Law "On Fair Trade" is supplemented with a new clause 11-1:

 

"Clause 11-1. Inducement of the supplier to take legal action on unprofitable terms concerning production and circulation of goods with the fixed and regulated prices."