DRAFT:
Reduction in licensing procedures for foreign trade
The Draft Act On Amendments to Certain Legislative Acts of Ukraine on Reduction of Licensing Procedures in Foreign Trade of 11 August 2015, No.2498à has been submitted by the Cabinet of Ministers of Ukraine. The Draft is aimed at the liberalization and deregulation of foreign trade in the export, import of alcoholic beverages and tobacco by cancellation of license.
Environmental impact assessment
The Draft Act On Environmental Impact Assessment of 3 June 2015, No.2009à was submitted by a group of MPs.
The Draft Act introduces the mandatory rule according to which the impact assessment is obligatorily held within the process of decision-making in the course of planned activity and the checklist of objects that are subject to environmental impact assessment (EIA) is determined. Besides, the Draft provides that the authorized body carries out its well-grounded environmental impact assessment decision based on the results of such analysis as well as taking this decision into account in the permitting document.
The Draft Act also provides for a transparent procedure of the public participation throughout the EIA process, ensuring that the negative impact on the environment and human health is fundamentally and thoroughly analyzed before large-scale works start and is taken into account when making the final decision. For instance, provisions are made for free public access to all information concerning the planned activity and the public debate procedure as well as for the online maintenance of the publicly-accessible Unified Environmental Impact Assessment register. Thus, the whole EIA process can be monitored on the website. The document also prescribes the application period for public proposals. This may result in a reduction of corruption risks.
Accounting and financial reporting improvement
The Draft Act On Amendments to the Act of Ukraine On Accounting and Financial Reporting in Ukraine (regarding improvement of certain provisions) of 10 August 2015, No.2486à has been submitted to the Cabinet of Ministers of Ukraine.
The Draft Act is developed in order to harmonize the Act’s provisions with EU legislation, particularly, with Directive No. 2013/34/EU, as well as for improving the IFRS application procedure.
Therefore, the Act is to be amended by: adding new terms, particularly, “expenses”, “profits”, “reporting period”, “report on payments to a government”, “management report”, “financial reporting taxonomy” and “public-interest entities”; for accounting purposes setting the criteria of defining entities as a micro-, small, medium-sized and large according to Directive No.2013/34/EU; decreeing that entities involved in national mining operations compile their financial reports in accordance with IFRS; applying the Act to the budget implementation process and compiling the budget implementation financial report in accordance with budget legislation; reducing number of obligatory requisites for primary source documents; clarifying the period for interim financial reporting in order to avoid ambiguity over the reporting period; allowing the small groups complyingwith the criteria settled by this Draft Act not to draft consolidated financial reports; improving the procedure of financial reporting submission and public disclosure provided that it is submitted in unified electronic form by the entities which apply IFRS as well as obliging entities to submit copies of financial reports upon request by legal entities and individuals in accordance with the On Access to Public Information Act of Ukraine.
Enforcement of judgments
The Draft Act On Authorities and Individuals engaged in the Enforcement of Judgments and Decisions of other Bodies of 14 August 2015, No.2506à has been submitted by the President of Ukraine.
The Draft is aimed at defining the basis of the organization and activity of the enforcement of judgments and decisions by the authorities of the State Executive (Bailiffs) Service and private participants, their objectives and legal status.
The Draft proposes to make changes to certain legislative acts for introduction of a mixed system, in particular, modernization of the State Executive Service and the introduction of private participants.
The Draft Act defines the principles of the State Executive Service, strengthens legal protection and guarantees of the state authorities and sets out requirements as to their professional ethics.
In order to improve the State Executive Service, the requirements of individuals engaged in the enforcement of rulings and the decisions of other bodies are raised.
On implementation of the strategy and for establishment and development of the institution of private participants, the Draft defines legal status of private contractors, regulates the procedure on the acquisition and suspension of the right to operate, determines the peculiarities of financial support, procedure of substitution, introduces the Unified Register of Private Executors (Bailiffs) of Ukraine as well as the ability to establish an effective self-management system for private performers, etc. The Draft proposes the creation of a new procedure for appealing against the decisions, actions or negligence of such participants. Thus, the actions or omissions of the state authorities and officials of the State Executive Service, as well as private performers to implement a court decision may be appealed to the court which issued the executive document in the manner prescribed by law. This means that the concept of judicial control over execution of decisions is introduced.
