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Legislative news digest: LEGAL HOTLINE 24.05.2018

Contents

  1. Reforming of the management system of property rights in the field of copyright law

  2. Ukrainian institutional depository institutions have been given the opportunity to open accounts for foreign nominee holders

  3. The export duty on scrap iron was increased and extended for a year

  4. Stamps are canceled while information submission to the state financial control directorate and the retail trade of alcohol and petroleum products

  5. New requirements concerning work at a computer are specified from may 18

Legal news for your attention:

Reforming of the management system of property rights in the field of copyright law

On May 15, the Verkhovna Rada of Ukraine has adopted the Law of Ukraine ‘On Effective Management Of Copyright Holders’ Property Rights In The Field Of Copyright Law And (or) Related Rights’ (Bill №7466).

The law defines the legal and organizational principles of collective management of copyright holders’ property rights and (or) related rights. The legislative act provided the respective powers to the organizations of collective management and defined the service supply mechanism on a contractual basis for the copyright holders on the collection of royalties.

The law specifies the procedure for accreditation of collective management organizations and establishes state supervision over their activities and mediation in negotiations and conflicts resolving.

The final provisions of the law specify the terms of reincorporation of collective management organizations and corresponding powers of the central executive authority, which forms and implements state policy in the field of intellectual property in this process (including the electronic registration operating support and accounting system in the field of copyright and related rights).

In compliance with the draft, the law comes into force on the day following the day of its publication, and will apply to legal relations that arose after its entry into force. The paragraph, concerning the functioning of the electronic registration system and accounting in the field of copyright and related rights, – from July 1, 2019.


Ukrainian institutional depository institutions have been given the opportunity to open accounts for foreign nominee holders

On May 15, the Verkhovna Rada of Ukraine adopted the Law of Ukraine ‘On Amendments to Certain Legislative Acts of Ukraine to Promote the Acquisition of Foreign Investments’ (Bill № 6141), which simplified the procedure for foreign investment in Ukraine by introducing a legal regime for accounting for the ownership of securities of foreign clients of global custodians or other financial intermediaries in the depository system of Ukraine.

The law introduced the new legal categories of ‘nominee holder’ and ‘the account in securities of the nominee holder’ in the legislation on depositary activity, as well as the related core aspects of depositary activity related to it.

The provisions of the law stipulate that foreign financial institutions, that meet the criteria listed in the draft law and are, in fact, foreign depositary institutions under the legislation of the state of their registration, are identified as nominee holders and are given the opportunity to Ukrainian depositary institutions to open securities accounts of them as nominee holders. In the indicated accounts, the Ukrainian depository system will keep records of securities and rights to securities owned by clients of the nominee holder.

The law regulates the principles of operation and maintenance of such accounts, related to these restrictions and requirements, in particular regarding disclosure, as well as issues of state regulation and control, etc.

In compliance with the text of the draft, the law will come into force four months after its publication.


The export duty on scrap iron was increased and extended for a year

The Verkhovna Rada of Ukraine approved an increase of the export duty on iron-and-steel waste and scrap from 30 to 42 euros per 1 ton.

The relevant Law of Ukraine ‘On Amendments to Section II ‘Final and Transitional Provisions’ of the Law of Ukraine ‘On Amendments to Some Laws of Ukraine on Reduction of Iron-And-Steel Scrap on the Internal Market’ (project № 8226) was adopted at the evening meeting on May 17.

In addition, the increased export duty is extended to next year (until September 15, 2019).

The law will come into force the day after it is published.


Stamps are canceled while information submission to the state financial control directorate and the retail trade of alcohol and petroleum products

The necessity of using stamps is eliminated, regardless of their availability in the entities of initial financial monitoring, when filling forms of registration and submission of data related to the implementation of financial monitoring. The relevant changes are prescribed by the order of the Ministry of Finance of March 5, 2018, under № 344.

Stamp impression on the labels of alcoholic beverages that are being implemented in restaurants is no longer needed (signature of the responsible persons is sufficient). The price list for alcoholic beverages is also signed by the director and accountant. At the reception of petroleum products at the gas station, the matching of the label on the tank with the stamp in the consignment note is not required. In addition, it is not necessary to have a stamp in the warranty card on technically-sophisticated household goods. The corresponding decree of the Cabinet of Ministers is dated on May 10, 2018, under № 353 and came into force on May 15. A stamp in the license application for air transportation is no longer needed.


New requirements concerning work at a computer are specified from may 18

Decree of February 14, 2018 under № 207 which came into force on May 18, 2018, issued by Ministry of Social Policy, approved requirements for safety and health protection of employees during working with screen devices.

These requirements apply to all business entities regardless of form of ownership, business legal structure and activities, and establish minimum safety and health requirements when performing work related to the use of on-screen devices, regardless of type and model.

In compliance with this list, the employer must:

  • to ensure compliance of the workplace with the approved Requirements;
  • teach and verify the knowledge of workers on occupational safety and safe use of on-screen devices before their usage;
  • if necessary, carry out laboratory tests of employee’ work conditions in order to identify the risks associated with deterioration of vision, physical condition, stress and take measures to eliminate them.

Please note that Order № 207 is a subordinate act on labor protection, so violating its requirements is a violation of the legislation on labor protection.

Taras Lytovchenko

Taras Lytovchenko

Counsel, Attorney at law

  • Recognitions
  • Best Lawyers in Ukraine 2021
  • The Legal 500 EMEA 2019

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