The Anti-Raider Bill Came Into Force

by Olha Povaliaieva
Thursday, May 12, 2022
The Anti-Raider Bill Came Into Force

On May 12, the parliament of Ukraine adopted bill No.3774, which describes and blocks the main raider tools

The bill is designed to stop all known raider loopholes that arise in working with state registries.

“The adoption of this bill is especially relevant now, given the resumption of work of state registries and real estate transactions. It will help protect both business and citizens from attempts of registration looting," Halyna Yanchenko, chairman of the Temporary special commission on protecting investors' rights.

The work began a year and a half ago, and now the bill has come into force.

"The bill introduces real-time informing the founders (participants) of legal entities, the head of a legal entity using telecommunications about the registration of such a legal entity. That is, as soon as someone tries to re-register your business, you will immediately receive a notification about this on your phone. To do this, the owner's contact details must be entered in the Unified state register. Thus, it will be impossible to "crank out" a raider attack unnoticed," Halyna Yanchenko added.

Also, following the draft law, the procedure for appealing against registration manipulations in the Ministry of Justice's Anti-raider commission becomes easier. In particular, several requirements for complaints are abolished. The bill also blocks the registration of an object in the event of encumbrances on a property.

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