17:49 10.09.2015

Poroshenko signs law on disclosure of info on ultimate media owners

1 min read
Poroshenko signs law on disclosure of info on ultimate media owners

President of Ukraine Petro Poroshenko has signed a law on amendments to some laws of Ukraine on ensuring transparent media ownership and implementation of the principles of state policy on television and radio broadcasting, the presidential press service has stated.

Law No. 674-VIII, adopted by the Verkhovna Rada on September 3, obliges organizations involved in information activities (television and radio broadcasters, program service providers) to disclose information on their actual ownership structure and provide data on the ultimate beneficial owner (controller) of the companies.

In addition, the law prohibits the establishment and activities of TV organizations, whose participants are legal entities, registered in offshore zones, the list of which is determined by the Cabinet of Ministers of Ukraine, as well as related individual entrepreneurs and stateless persons.

The National Television and Radio Broadcasting Council of Ukraine is obliged to provide a detailed justification for all its decisions on the issue, including refusals to issue and extend licenses. The Council is also forbidden from introducing any extra-legal restrictions to rebroadcast programs from the member states of the European Convention on Transfrontier Television.

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