Draft Law of Ukraine

"On Re-Privatization of Property in Ukraine"

The draft determines that re-privatization of property is alienation in favor of the state or territorial community of property acquired by legal entities during privatization of state property.

Re-privatization can take place in the following instances: threat of stoppage of enterprise being natural monopoly; the need to preserve privatized object if it has public significance; recognition of purchase and sale agreements concluded during the course of privatization as invalid.

Verkhovna Rada, the Cabinet of Ministers, State Property Fund, bodies of local self-government, owners of privatized objects etc. may initiate re-privatization.

Integral property complexes, property of structural divisions of enterprises, individual houses, buildings objects of unfinished construction, shares, land plots are referred to in this draft law as re-privatization objects.

The Verkhovna Rada or oblasts’ Councils (if re-privatization is initiated by territorial community) shall make a decision on recognizing the object as subject to privatization.

The State Property Fund makes final decision on the object re-privatization.