IMPROVEMENT OF CORPORATE GOVERNANCE IN STATE-OWNED AND MUNICIPAL COMPANIES
LEGAL ALERT - ARZINGER law firm,
Kyiv, Ukraine, Tue, Morch 1, 2016
Following the policy of supporting our current and potential clients at all stages of their activities in Ukraine, we would like to inform you that On 18 February 2016 Ukrainian Parliament passed the Law "On Introducing Amendments to Certain Legislative Acts regarding Management of State-Owned and Municipal Property" (Draft Law No. 3062), whereby a set of international corporate governance standards are established for the state-owned and municipal companies. As of the date, the Law has been addressed to the President of Ukraine for signing.
According to explanatory documents, the Law is aimed at optimizing the public economy sector, applying market governance mechanisms for state-owned and municipal companies and, therefore, minimizing political interference into operation of such companies.
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Should you have any questions regarding the information contained herein, please do not hesitate to contact us.
Partner, Head of Corporate/M&A practice