Decision to nationalize Ukrnafta, Ukrtatnafta, ZTR, Motor Sich, AvtoKrAZ based on law and Supreme Commander-in-Chief's order
The law on the transfer, expropriation or seizure of property under the legal regime of martial law or a state of emergency and the order of the Supreme Commander-in-Chief of the Armed Forces of Ukraine dated November 6 on the decision of the Staff of the Supreme Commander-in-Chief of the Armed Forces of Ukraine made on November 5, 2022 adopted in accordance with it became the basis for the decision of the National Securities and Stock Market Commission on the procedure for such alienation in respect of the shares of five enterprises.
According to the copy of the decision of the National Securities and Stock Market Commission dated November 6, which is at the disposal of Interfax-Ukraine, the five orders of the commander of the Logistics Forces of the Armed Forces of Ukraine on the forced alienation of property – shares of Ukrnafta, Ukrtatnafta, Zaporizhtransformator (ZTR), Motor Sich and AvtoKrAZ were also approved.
In accordance with the decision of the Commission, the Ministry of Defense will manage the securities account to which the shares are transferred.
The commission also said that the transaction for the alienation of shares should be carried out despite the presence of other encumbrances on the circulation of shares.
The specified law assumes that in case of impossibility of preliminary full compensation, such property is forcibly alienated during martial law with subsequent full compensation of its value within the next five budgetary periods after the abolition of martial law at the expense of the state budget.
Valuation of property subject to expropriation is carried out in accordance with the procedure established by the legislation on the valuation of property, property rights and professional valuation activities, according to the law.