Draft Law of Ukraine

“On Principles of State Regulatory Policy in the Area of Economic Activity”

This is an alternative version of the draft law of Ukraine “On Principles of State Regulatory Policy in the Area of Entrepreneurial Activity” N 1161 , introduced by the people’s deputy Yu.Karmazin on June 4, 2002.

This draft defines legal and foundation principles for implementation of the state regulatory policy in the area of economic activity. Regulations of this draft apply to all normative legal acts and other written documents passed by a regulatory body to govern relationships in the area of economic activity.

The regulatory bodies, in particular, include: Verkhovna Rada, Cabinet of Ministers of Ukraine, National Bank of Ukraine, any other central body of executive power, local body of executive power, Verkhovna Rada of the Autonomous Republic of Crimea, body of local self-government, state specialized institution or organization.

Regulatory bodies will have to form their activity plans on preparing their draft regulatory acts for next calendar year. These plans are to be approved by December 15 of the current year and shall be made public through publishing in printed mass media or in Internet.

Draft regulatory acts are subject to public discussion. The maker of a regulatory draft shall accept remarks and proposals to draft within the term that shall be neither less 20 workdays nor exceed 3 months from the date of publishing the relevant notice.

This draft outlines the procedure and peculiarities of execution of the state regulatory policy by:

• Verkhovna Rada of Ukraine;
• Verkhovna Rada of the Autonomous Republic of Crimea;
• The Cabinet of Ministers of Ukraine, central body of executive power and its territorial bodies, Council of Ministers of the Autonomous Republic of Crimea, local bodies of executive power;
• self-government bodies and officials thereof.

Along with this the present draft law determines specific features of the status and powers of the specially authorized body to carry out state regulatory policy. In particular, this body has the right to revise regulatory acts adopted by bodies of local self-government with regard to conformity with the requirements of this draft law and to made binding decisions if any violations are revealed. The head of this specially authorized body shall be the member of the Cabinet of Ministers of Ukraine.

Therefore, the draft, if passed, will allow to govern the procedure of adoption of regulatory acts in the area of economic activity and to fix in legislation powers vested in the State Committee of Ukraine on Regulatory Policy and Entrepreneurship. The latter, now, acts on the basis of the Regulations approved by the Decree of the President “Issues of the State Committee of Ukraine on the Matters of Regulatory Policy and Entrepreneurship” N 721/2000 of May 25, 2000.