PRIVATIZATION

The Law of Ukraine “On the Introduction of Changes to Some Legislative Acts of Ukraine Regarding the Promotion of Relocation Processes of Enterprises in the Conditions of Martial Law and the Economic Recovery of the State” dated 28 July 2022 No. 2468-IX contains a number of temporary provisions aimed at simplifying the privatization of state-owned objects that are located at the administrative-territorial units free from hostilities, in order to facilitate relocation of enterprises from territories where hostilities are taking place or there is threat of hostilities.

Temporary provisions for the period of martial law:

● wider access to privatization due to the possibility of signing the protocol on the results of the electronic auction and the contract of sale with digital signatures;

● facilitating the relocation of enterprises due to the possibility of developing the terms of sale of the privatization object after receiving a letter of intent to privatize such an object from a potential buyer, as well as shortening the terms of auctions;

● strengthened Parliament control over privatization processes during martial law due to obligation of the State Property Fund to provide the Parliament Committee on Economic Development with the information on the results of electronic auctions on monthly basis;

● simplification of the procedure for preparing objects for privatization by canceling the audit, environmental audit, inventory, as well as assessment of the privatization object (its components);

● prohibition to sale objects of large privatization at auctions and by buying out;

● prohibition of privatization of objects located in the combat zone or territories close to it, the list of which is approved by the Cabinet of Ministers of Ukraine.