The Verkhovna Rada has adopted a law on reforming the Asset Recovery and Management Agency (ARMA).
Some 322 MPs voted for bill No. 5141 at second reading with the required 226 votes.
The draft law, in particular, prohibits the sale of assets prior to a court decision, clarifies the procedure for storing and managing property, and suggests that asset owners can independently submit a certified court decision to cancel the seizure and return the property.
Meanwhile, earlier Transparency International Ukraine and the EU Anti-Corruption Initiative in Ukraine (EUACI) stated that this bill creates new risks and may harm the practice of managing seized assets. In particular, they emphasize that the document can create preconditions for blocking the sale of seized property that cannot be effectively managed. In their opinion, this will lead to the loss of the value of the seized property or to such expenses for its management that will significantly exceed its value. This approach is economically disadvantageous and contrary to international practice, the organizations noted in a joint statement.
Advertising
Advertising
MORE ABOUT
Rada doesn't consider bill on use of English language on Tuesday due to resonance of dubbing norm
20:58, 23.04.2024
Rada allows ARMA to buy FX govt bonds
19:42, 23.04.2024
Financial results of Vozdvyzhenka RC LLC for 3 months of 2024
17:58, 22.04.2024
Vozdvizhenka residential complex asks authorities to intervene in ARMA's trying to replace manager of seized assets
20:09, 17.04.2024
RC Vozdvyzhenka Appeals to President and National Security and Defense Council on Risks to Institution of Seized Property Management Due to ARMA's Actions
15:25, 17.04.2024
LATEST
Yermak, Szijjártó discuss key issues of Ukrainian-Hungarian relations
20:24, 03.05.2024
Currently five multi-role Russian fighters, Su-34, Su-35 aircraft are in Black and Azov Seas
19:53, 03.05.2024
Khortytsia group: In Krasnohorivka, some enemy groups managed to enter hide among remains of refractory plant; all measures being taken to drive enemy out of village
19:26, 03.05.2024
Borrell on behalf of EU due to cyberattacks by Russian-sponsored group ART28: We not to tolerate it, will use full range of responses
18:40, 03.05.2024
Enemy uses chemical munitions 444 times over past month – AFU General Staff