Recommencing the work of the Interdepartmental Commission on Investor Rights Protection and Combating Illegal Acquisition and Takeover of Enterprises, headed by First Vice Prime Minister of Ukraine Sergiy Arbuzov, will allow in a short time to develop and implement at the legislation level an effective model for struggle against raiding that meets international experience to combating this threatening phenomenon. Together with public and leading experts, the Government of Ukraine will not only eradicate the shameful practice of embezzlement, but also return assets to their owners. Ukraine must protect and guarantee the security of property rights and business environment. And these guarantees will enhance the economy development, revive the confidence of the foreign and domestic investors, lead small and medium enterprises out of shadow, create new jobs, and consequently improve the living standards of every Ukrainian.
Commission functions
• Monitor of the actions implemented by executive authorities against violations of investor rights, illegal acquisitions and takeovers, violation of land legislation;
• Study the performance of central and local executive bodies, local authorities, enterprises, institutions and organizations on matters falling within its competence;
• Ensure rapid exchange of relevant information between public authorities;
• Organize work on collecting and monitoring information on investor rights violations, illegal acquisition and takeover of enterprises, violations of land legislation;
• Analyse requests and other documents for presence of investor rights violations, illegal acquisition and takeover of enterprises, violations of land legislation;
• Be involved in legislation drafting on matters falling within its competence;
• Submission of recommendations and proposals, based on the results of their performance to the Cabinet of Ministers of Ukraine;
• Conduct information hearing at its panel sessions, delivered by enterprise executives, institutions, organizations, and representatives of public authorities on matters within its competence;
• Inform the public about investor rights violations, illegal acquisition and takeover of enterprises, violations of land legislation.
Commission tasks
• Ensure coordination of public authorities’ actions on investor rights violations, protecting investor rights and combating illegal acquisition and takeover of enterprises, violations of land legislation;
• Prepare proposals on drafting and implementation of public policy in the sphere of investor rights protection, acquisition and takeover of enterprises, violations of land legislation, particularly on increasing the efficiency of the central and local authorities in the relevant fields;
• Development of measures towards protecting investor rights and combating illegal acquisition and takeover of enterprises, violations of land legislation; ensure improvement of regulation in this area.
Procedure of appeal and consideration of matters by the Commission on Investor Rights Protection and Combating Illegal Acquisition and Takeover of Enterprises
1. Appeal referral to the Commission. Appeal must contain:
- In case of an individual appeal - full name, address, and contact phone number, e-mail address, personal signature.
- In case of a legal entity appealing - full name of the legal entity, EDRPOU code, address; contact telephone number of director or authorized representative, reference number and date of appeal registration, the signature of the authorized person.
Appeal content must include:
- Introduction, which briefly outlines the causes and nature of the appeal.
- Narrative, which provides a detailed description of the situation concerning which the appeal is being made, including, if possible, different perspectives and a summary of individual or legal person action facts, judicial authorities and state authorities confirmed by relevant documentary materials, copies of which should be given to the Interdepartmental Commission as annexes.
- Reasoning part, in which the person appealing, justifies the position set out in the application with reference to the legislation and supporting documents.
- Pleading part, in which the person summarizes the information provided in the appeal and is able to present his/her own proposals to settle the outstanding issues.
Annexes explaining separate issues of appeal or explaining it in general.
Information about annexes is stated in the text or after the appeal text before the signature. Names of annexes must correspond to the name of the application.
2. Consideration of the appeal by the Commission’s analytical group on the matter of violating investor rights or illegal acquisition and takeover of enterprises.
As a result of this review, the decision may be:
a) to consider this issue at the Commission meeting;
b) to send it to the regional group of provincial (municipal) administrations, the Council of Ministers of the AR Crimea.
3. As a result of appeal consideration during the Commission or regional group meeting suggestions and recommendations are put forward and are mandatory for consideration by state authorities.