Zelenskyy puts into effect NSDC's decision on creating a register of oligarchs
President of Ukraine Volodymyr Zelenskyy put into effect the June 29 decision of the National Security and Defense Council of Ukraine on the creation of a register of oligarchs.
The according decree №459/2022 was posted on the website of the Head of State.
"Enact the decision of the National Security and Defense Council of Ukraine dated June 29, 2022 'On the approval of the Provision on the Register of persons who have significant economic and political weight in public life (oligarchs), the procedure for its creation and maintenance,'" the decree reads.
According to the decision of the National Security and Defense Council, the register of oligarchs will be kept in electronic form. At the NSDC Apparatus, the appropriate structural subdivisions will be assigned for the creation and maintenance of the register. Information that constitutes state secrets and insider information will not be added into the register. The information about oligarchs that is included in the register cannot be considered confidential.
Also, the NSDC's decision outlines the procedure for adding information about oligarchs into the register. This includes the full name, date and place of birth, identification data, passport details, etc., the address of the registered or declared place of residence (stay), justification for recognizing the person as an oligarch, as well as a list of legal entities of which the oligarch is the ultimate beneficial owner. In addition, a list of persons to whose election funds, or the election funds of political parties that nominated these persons, the oligarch has contributed will be included.
As reported by IMI, on November 5, 2021, President of Ukraine Volodymyr Zelenskyy signed Bill №1780-IХ, adopted by the Verkhovna Rada on November 3, "On Prevention of Threats to National Security Associated with the Excessive Influence of Persons Who Have Significant Economic and Political Weight in Public Life (Oligarchs)."
According to the law, an oligarch will be defined as a person who simultaneously meets at least three of the following characteristics:
1) participates in political life;
2) has significant influence on mass media;
3) is the ultimate beneficial owner of a business entity that, after this bill's date of entry into force, is the subject of natural monopolies or occupies a monopolist (dominant) position on the market in accordance with the Law of Ukraine "On the Protection of Economic Competition" and has been maintaining or solidifying this position for one consecutive year;
4) the confirmed value of the assets of the person and the economic entities of which he is the beneficiary exceeds 1 million subsistence minimums, established for able-bodied persons on January 1 of the corresponding year.
On May 11, 2021, Oleksiy Danilov, Secretary of the NSDC, announced that 13 people in Ukraine can be classified as oligarchs.
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