About The Privatization Of Paper

Original Language Title: Про приватизаційні папери

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Read the untranslated law here: http://zakon3.rada.gov.ua/laws/show/2173-12

                                                          
With a k o n u r as th h s about the privatization of paper (Supreme Council of Ukraine (BD), 1992, N 24, 352) {entered into BP N 2174-XII (2179-12) from 06.03.92, VVR, 1992, N 24, 353} {amended in accordance with the laws of N 2544-XII of (2544-12) from 07.07.92, VVR, 1992, N 38, 562 N 3370-IV (3370-15) on 19.01.2006 , VVR, 2006, N 22, 184 N 5492-VI (No.5492-17) from 20.11.2012, VVR, 2013, N 51, item 716} this law defines the concept and types of privatization securities, conditions and the order of their release, placing among the citizens of Ukraine, keeping, use and repayment.
Article 1. Concept and types of privatization securities 1. Privatization of the paper is a special kind of Government securities that certify the right of the owner to free receipt during privatization a share of property of State enterprises, the State Housing Fund, Land Fund.
Privatization securities can only be nominal.
2. the procedure for issuance and circulation of the privatization securities is determined by this law, other laws of Ukraine.
3. Privatization papers have the following requisites: record of a paper belonging to Ukraine; the name of the authority which issued the paper; specify the type of the privatization of paper series and serial number; the date of issue and term of use; the nominal value of the privatization of paper in value, calculated on the basis of the replacement cost of the property privatizuêt′sâ, and (or) bulk, or in conventional units; surname, name, middle name and place of residence of the owner, information about the document certifying his identity; the signature of the Manager of the issuer or another authorized person to it, seal of the institution that issued paper.
The privatization accounts also contains information about the conditions and the procedure for their use and on the rights of the owner.
4. For privatization securities used forms of a special type, which are approved by the National Bank of Ukraine.
The issue of privatization securities may be carried out in the form of non-cash deposits.
Article 2. The owners of the privatization securities 1. The right to receive the property privatization securities are Ukrainian citizens living on its territory, residing or temporarily staying outside the Office for the period determined by the State program of privatization.
2. Ukrainian citizens who live abroad have the right to receive privatization papers in case of relocating to Ukraine for the period determined by the State program of privatization.
3. Interests of the incapacitated or with reduced mobility of the owners of the privatization securities represent according to the legislation of Ukraine, legal representatives, guardians and's custodians.
4. Ownership of the resulting privatization papers in the event of the death of their owner goes in order of succession determined by the legislation of Ukraine. In case of death of a citizen, that have not received the privatization of paper for any reason, the right to receive appropriate before issuing a deceased securities is not inherited.
5. Every citizen of Ukraine has the equal right to receive privatization securities of equal nominal value share for privatization of property of State enterprises, the State Housing Fund, Land Fund.
Article 3. The order of release, and accounting of the privatization securities 1. A decision on the issue of privatization securities shall be made by the Cabinet of Ministers of Ukraine in accordance with the State program of privatization. Issue of privatization securities exercises National Bank of Ukraine. Accounting issued privatization securities is the issuer.
2. Giving citizens of privatization securities organized branches of the savings bank of Ukraine according to the lists, which consist of local Councils of people's deputies or representatives of Ukraine in other countries, on the basis of the recipient's application and presentation of the passport of the citizen of Ukraine or a substituting document.
The procedure for the issue of privatization securities shall be established by the National Bank of Ukraine under the agreement with the Cabinet of Ministers of Ukraine.
{Part two article 3 amended pursuant to the law N 5492-VI (No.5492-17) from 20.11.2012}

3. Storage conditions, accounting and repayment of the privatization securities are with their release of the National Bank of Ukraine.
4. When the issue of privatization securities citizen in bezkontaktnomu electronic carriers of passport of citizen of Ukraine is made an entry.
{Part four of article 3 as amended by law N 5492-VI (No.5492-17) from 20.11.2012}

5. on receipt of the privatization securities citizens paid State duty.
Article 4. The use and repayment of the privatization securities 1. Privatization of the paper used by the citizens of Ukraine for the purchase of a share of property of State enterprises and other objects, the State Housing Fund, Land Fund in accordance with the legislation on privatization.
2. the Privatization of paper can be used during the period of privatization, the State program of privatization.
Repayment of unused privatization securities is carried out in the manner and terms set by the State program of privatization.
3. using privatization securities carried out through their Exchange for shares, stocks, other documents that establish and

certify the ownership of a share of the State property in accordance with the value of the privatization of paper with optional display of the contents of the Exchange operations on the privatization of paper and related documents, and is accompanied by the repayment of the privatization of paper.
The nominal value of all privatization securities issued by the State must be equal to the value of the share of the property of State enterprises, other objects, the State Housing Fund, Land Fund, which privatizuût′sâ free of charge. {The second paragraph of part three article 4 amended by law N 2544-XII (2544-12) from the 07.07.92} Stock, shares, other documents which establish the right of the acquired objects of privatization shall contain information about the owner, which they granted.
For sharing of privatization securities to shares, stocks, other certificate of ownership of the purchased objects shall be paid State duty.
4. the Privatization of paper can be used only to send the documents to establish the ownership of the purchased objects of privatization.
To release the cash turnover of privatization securities payments for purchased objects of privatization can be implemented with the privatization of deposit accounts, which are credited with the total nominal value of privatization securities to those citizens who have a right to them in accordance with the legislation.
Procedure for opening these accounts and the implementation of these payments is determined by the National Bank of Ukraine.
Supporting documents on privatization securities have a vulture "Privatisation" and subject to a separate accounting.
5. Redeemed privatization papers are collected in the order determined by the National Bank of Ukraine.
6. Privatized objects, more than 50 percent of the price that was paid for privatization transactions, are not subject to sale or alienation by other means before the introduction of the national currency of Ukraine, except in the case of bankruptcy of the enterprise.
Violation of specified requirements entails recognition agreements null and void following the deletion of the corresponding budget assets and receivables.
7. Recover lost privatization securities is carried out in the manner prescribed by law.
Article 5. Special terms of use and circulation of privatization securities 1. Privatization securities free float cannot be, and their sale or alienation by another method is invalid.
2. Dividends or interest of the privatization securities are not added.
3. the Privatization of paper cannot be used for making payments, as well as the pledge to provide payments or credits.
4. Agreements using privatization securities for purposes not foreseen by this law, is null and void.
Privatization of paper purchased in violation of the established order of their issue and circulation, are considered null and void, and persons who have violated these rules are liable on the basis of the laws of Ukraine.
Article 6. Mutual convertibility of privatization securities 1. The citizens of Ukraine is created the opportunity for unlimited select fields of privatization, granting them the right to apply the privatization of paper of the same species in different spheres of privatisation by ensuring their mutual conversion.
2. Convertibility of privatization securities during the period of privatization by installing coefficients for recalculation of nominal value of paper one type when converting to another.
Conversion ratio of privatization securities is determined by the Cabinet of Ministers and approved by the Verkhovna Rada of Ukraine.
Article 7. Intermediary and representative activity on turnover of privatization securities 1. Brokering of privatization transactions-this is a commercial activity that is performed by the exchange of privatization securities to shares, stocks and mediate on its behalf, on behalf of, at the expense and on behalf of the owners of the privatization securities.

{The second paragraph of article 7 on the basis of Law N 3370-IV (3370-15) on 19.01.2006}

{Paragraph three of article 7 on the basis of Law N 3370-IV (3370-15) on 19.01.2006}

2. The representative of privatization securities-exchange of privatization securities to shares, stocks, that representatives from the name, and the name of the owners of the privatization securities.
Article 8. The State guarantees to holders of privatization securities 1. The State guarantees the right of owners to purchase securities of privatization for these paper objects of privatization according to the legislation on privatization.
2. Privatization papers obtained by citizens of Ukraine, as well as payments from the privatization of deposit accounts, accept the relevant authorities of the State in paying a share of the property of State enterprises, other objects, the State Housing Fund, Land Fund, privatizuût′sâ.
3. Rights and duties regarding privatization securities arise from the moment of their transfer by the issuer or its authorized person to the recipient, unless otherwise provided by legislation of Ukraine.
4. Refusal of privatization securities and their admission into account payment for purchased citizens in objects of privatization can be appealed to the Court in the prescribed manner.
5. responsibility for violating this law

determined in the manner prescribed by article 29 of the law of Ukraine "about the privatisation of State enterprises" (2163-12).

President of Ukraine l. KRAVCHUK Kiev, March 6, 1992, XII-2173 N