The state as an owner intends to conduct several pilot assessments of the activity of supervisory boards of state-controlled companies under the new norms of the law on improving corporate governance of state-owned companies (No. 5593), adopted by the parliament on February 22, Deputy Minister of Economy Oleksiy Sobolev has said.

"The law contains mechanisms for control over supervisory boards: regular assessment of them is being introduced - at least once every three years, but it can be earlier, there is a clear list of grounds for dismissal of supervisory boards, that is, you cannot just fire them. For some companies we will do pilots this year, evaluate them so that there is constant feedback and reporting," he said in an interview with Interfax-Ukraine.

Sobolev emphasized that such increased responsibility in the law is being introduced simultaneously with an increase in the powers of supervisory boards.

According to him, the supervisory board will now be responsible for the results of the appointment of management, for the results of the company, for the implementation of those strategic tasks set by the state, formalizing them with waiting lists.

Commenting on situations where, for some reason, a state-controlled company does not have an authorized supervisory board, Sobolev called them atypical and noted that the government, especially during war, will continue to make decisions on behalf of the shareholder during this period.

"The mechanism for managing an enterprise, when in the absence of a supervisory board, powers are transferred to the meeting of shareholders, should remain during martial law," the deputy minister said, adding that this works the same way in joint-stock companies in the private sector.

According to him, during war, decisions need to be made very often, so it is necessary to have control over the company. "Since we transfer exclusive powers, such as the appointment and dismissal of a director, approval of financial, investment, strategic plans, major transactions, to the supervisory board, in its absence it is impossible to sign any loan or formalize restructuring. Wait three months while the competition for new the board ongoing, and less is impossible under market conditions - "is not an option," Sobolev explained.

He noted that the decisions made by the shareholder in the absence of the supervisory board are temporary.

"That is, when the new supervisory board has gathered, it can cancel them. Thus, there is no point in doing something wrong, because anyway, the new board will come and do as it needs," the Deputy Minister of Economy said.