Legislative Review

26 - 30 August 2013. There were made changes to the Regulation on the criteria and financial operating regulations (standards) for credit institutions

The Cabinet of Ministers of Ukraine by resolution № 582 of 14.08.2013 amended the Rules for passage of oversized and heavy transport vehicles through roads, streets and rail crossings, which defined the procedure for permission obtaining to participate in road traffic of vehicles, the weight or dimensions parameters of which exceed normative.

Permit is issued by traffic police departments on the basis of agreed upon documents with the owners of street and road network, railway crossings, bridge maintenance, services of city electric transport, power networks, electrification, telecommunication, which define the conditions and mode of passage of mentioned vehicles.

The Cabinet of Ministers of Ukraine by resolution № 592 of 21.08.2013 agreed to implement the government external borrowing in 2013 by debt finance on the amount not exceeding 750 million dollars for the term of two year.

The Cabinet of Ministers of Ukraine by resolution № 583 14.08.2013 prohibited equipment of parking places by economic entities on the sidewalks and the driveway roads. This prohibition, of course, does not apply to operators-business entities engaged in equipment and maintenance of parking facilities.

The Ministry of Revenues and Duties of Ukraine by letter of 27.03.2013 clarified that the right to benefits of the tax payment have the individuals who are the payers of land tax, i.e., land plots holders, land shares, land users.

The Ministry of Energy and Coal Industry of Ukraine by order № 317, dated 05.06.2013, approved the Requirements for the employers to provide safe working in potentially explosive environments. Requirements apply to business entities regardless of ownership form and organizational and legal forms which activity is connected with potential possibility of occurrence explosive environment.

The Ministry of Agrarian Policy and Food of Ukraine by the order № 442 of 17.07.2013 has approved the Procedure of control over compliance with the license conditions of economic activity for the fumigation (disinfection) of regulation objects of determined by the Law “On Plant Quarantine”, which moved across the state border of Ukraine and quarantine zones.

The Ministry of Agrarian Policy and Food of Ukraine by the order № 441, dated 17.07.2013, approved the Licensing Terms on economic activity for the fumigation (disinfection) objects of regulation determined by the Law “On Plant Quarantine”, moved across the state border of Ukraine and quarantine zones.

The Ministry of Agrarian Policy and Food of Ukraine by the order № 440 of 17.07.2013 approved the Procedure of control over compliance with the Licensing Conditions for economic activity in the sale of pesticides and agrochemicals (only with plant growth regulators). The procedure defines the legal and organizational basis, the basic principles of state supervision (control) of the business of trade of pesticides and agrochemicals (only with plant growth regulators).

The Ministry of Social Policy of Ukraine by the letter № 380/18/99-13 of 22.07.2013 provided clarification on the average salary calculation for the calculation of allowance on temporary disability. The average salary calculation for the calculation of insurance payments carried out in accordance with the Procedure for calculation of average salary (income, cash coverage) for the calculation of payments on compulsory state social insurance, approved by the resolution № 1266 of Cabinet of Ministers of 26.09.2001.

The Ministry of Social Policy of Ukraine by letter № 290/13/116-13 of 06.07.2013 clarified the procedure of leave partition. The provisions of Article 12 of the Law “On Leaves” is provided the dividing of annual leave on a part but not an obligation of the employer to divide it into parts, as requested by the employee. The main continuously part of vacation with duration of not less than 14 calendar days is one part of annual leave which may be provided to the employee at his request. Moreover, this leave portion need not necessarily be as the first, second or other part thereof.

The Ministry of Health of Ukraine by order № 694, of 06.08.2013, approved the Hygiene requirements for poultry meat and some indexes of its quality, which apply to all facilities (objects) which produce poultry meat in Ukraine and/or carry out its selling in the market of Ukraine.

The State Commission for Regulation of Financial Services Markets of Ukraine by regulation № 2359 of 18.07.2013 amended the Regulation on the criteria and financial operating regulations (standards) to which:

- added a number of new conceptual terms: fixed-capital assets, subordinated capital, owner's equity;

- it is established that the credit institution is unable to bear the risk against one person exceeding the 15% of the owners' equity. The credit institution is unable to bear the risk in relation to a group of related persons, more than 20% of owners' equity;

- determined that the subordinated debt is taken into account to own capital of the credit institution in an amount not exceeding 50 percent of the amount of fixed capital, if the subordinated debt complies with certain conditions.

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