On Amendments And Additions To The Law Of Ukraine "on Pledge"

Original Language Title: Про внесення змін і доповнень до Закону України "Про заставу"

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Read the untranslated law here: http://zakon3.rada.gov.ua/laws/show/4035-12

                                                          
With a k o n u r as th h s on amendments and additions to the law of Ukraine "on pledge" (Supreme Council of Ukraine (BD), 1994, N 27, art. 223) of the Verkhovna Rada of Ukraine n o s t a n o in l I is: Make the law of Ukraine "on pledge" (2654-12) (Supreme Council of Ukraine, 1992, N 47, 642) such changes and additions 1. Add to article 4 of the sixth such content: "the subject of pledge may not be the objects of State property, privatization of which banned legislative acts, as well as property complexes of the State enterprises and their structural units, which are in the process of privatisation".
2. Add to article 11 parts of the fourth and fifth such "State enterprise by which property is pinned on the right of full economic competence, provides security of this property, except for the whole property complex of the enterprise, it departments, buildings and structures, the pledge which is carried out with the permission and under the terms agreed with the agency authorized to manage the respective property. Open joint-stock company, created in the process of corporatization, all shares that are in State property, pledge of proper to him of the property under the agreement with the founder of this company in the manner prescribed for State enterprises.
From the moment of making a decision about the privatisation of the State enterprise or open joint-stock company, created in the process of corporatization, pledge their property is carried out with the permission of the appropriate body of privatization. "
3. in article 21 of the first, after the words "no contract" add the words "and State enterprises and open joint-stock companies, created in the process of corporatization, all shares that are in State property, solely with the auctions (public tenders).
4. Article 25 supplement part of the second of the following contents: "If the implementation of integral property complex of the State Enterprise (open joint-stock company, created in the process of corporatization, all shares that are in State property), which is the subject of the pledge, viručena monetary amount secured exceeds the collateral requirements of the mortgagee, the difference is credited to the appropriate budget.

President of Ukraine Leonid KRAVCHUK, Kyiv, 25 February 1994 N 4035-XII