The Verkhovna Rada, Ukraine's parliament, plans to liberalize the public supervisory system.

A total of 247 MPs supported draft law No. 2418a at first reading last week.

The chairman of the parliamentary committee on industrial policy and entrepreneurship, Viktor Halasiuk, said that the draft law is included in the package of three draft deregulation laws. It foresees the introduction of the principle of the legality of the actions of businesses, a minimum punishment for a first time violation, and obliges supervisory agencies to consult with businesses.

According to the Economic Development and Trade Ministry, the draft law sets tough restrictions on the frequency and continuation of checks, specifies and reduces the reasons for conducting off-schedule checks, and also reduces the duties of supervisory agencies.

The draft law proposes that the key principles of public supervision should be expanded with the requirement of open operations of public supervisory agencies and their accountability to society.

The document foresees guarantees for the rights and legal interests of each economic entity.

The implied legality of the actions of companies is included if the requirements of Ukrainian law or other legal acts issued on the basis of Ukrainian law interpret the rights and liabilities of companies in an ambiguous manner.