On November 2, the law number 1666-VIII “On amendments to some legislative acts of Ukraine concerning improvement of the state registration of rights to immovable property and property rights protection,” came into force, designed to eliminate raider schemes, the most widely used in the current year and related to facilitate the procedure of property registration and business.
Particularly, the law provides authenticity of the founder’s (participant) signatures, or persons authorized by the head and the secretary of the general meeting on the decision of the authorized legal entity management body, which is issued for the changes of the legal entity’s state registration, must be notarized. Also the signature on the founding document, the transfer act and the distribution balance of the legal entity, a statement of withdrawal from society must be notarized too. The electronic signature can be marked only with the personal presence of the signer.
In order to appeal the decision, action or inaction of the state registrar, the subject of state registration has much time for filing a complaint to the Ministry of Justice and its territorial bodies, it’s increased from 30 days to 60. In addition, all holders of the legal entity are provided with notice that, the state registrar has got the application to amend the registers.
Thus, the owner is given the opportunity to stop the registration actions. Also now the Ministry of Justice will carry out continuous monitoring of registration activities in the State Register of the rights to immovable property and the Unified State Register of legal entities, sole proprietor and community groups.
Contact:
Yaroslav Kalakura
Corporate services consultant, Accace Ukraine
