Digest of Legislative Acts
National Bank of Ukraine – Accounting Prices for Banking Metals
The National Bank of Ukraine has published the accounting prices for banking metals, which as of October 28, 2024, are as follows: gold – 112,567.72 UAH, silver – 1,374.30 UAH, platinum – 41,851.40 UAH, palladium – 48,029.84 UAH. These prices are informative and do not obligate the NBU to buy or sell metals at the indicated rates.
National Bank of Ukraine – Official Exchange Rates
The National Bank of Ukraine has also published the official exchange rate of the hryvnia to foreign currencies as of October 28, 2024. Among the rates: Australian dollar – 27.4115 UAH, US dollar – 41.3135 UAH, euro – 44.7136 UAH, British pound – 53.6538 UAH. This rate is used for accounting purposes and does not obligate the NBU to conduct foreign exchange operations.
Termination of the International Agreement with Latvia
The document informs about the termination of the international agreement between Ukraine and the Republic of Latvia concerning cooperation in education, science, and culture, signed on November 21, 1995. The agreement ceased to be in effect on November 21, 2005, according to information from the Ministry of Foreign Affairs of Ukraine.
NBU Resolution No. 127 of October 18, 2024
The resolution introduces amendments to the regulatory legal acts of the NBU, particularly regarding the physical and informational accessibility for clients with disabilities, and clarifies the requirements for financial service providers. The amendments also pertain to the recognition of services as financial and payment services, as well as new requirements for the business reputation of key individuals.
NBU Resolution No. 126 of October 18, 2024
This resolution invalidated several previous regulatory legal acts of the NBU, including Resolution No. 175 of April 21, 2004. Control over the implementation of the new resolution is assigned to the Deputy Head of the NBU, and the resolution takes effect from the date of publication.
Subsidy Allocation for Veterans
The Cabinet of Ministers of Ukraine has approved the distribution of subsidies from the state budget to local budgets for 2024 for the support of specialists working with war veterans. The total amount of the subsidy is 97.3 million UAH, and the changes also relate to the procedure for providing psychological assistance.
Changes to Military Service for Foreigners
The law introduces changes to the procedure for enlisting foreigners and stateless persons into military service. A Recruitment Center is established for selecting candidates, and requirements for signing contracts for military service are specified.
Law on State Climate Policy
The law defines the main principles and objectives of state policy in the field of climate, including the reduction of greenhouse gas emissions and the development of renewable energy sources. The establishment of specialized bodies for coordinating the implementation of climate policy is provided.
Order of the Ministry of Justice of Ukraine
The order amends the Instruction on the Organization of Forced Execution of Decisions, particularly concerning the suspension of the forced sale of the debtor’s property. New provisions regulate the actions of the auction organizer in the event of the suspension of executive actions.
Order of the Ministry of Agrarian Policy
The order approves the requirements for a standard control plan for the certification of agricultural products. The document defines the structure of the control plan, which includes an introductory, descriptive, and research sections.
Order of the Ministry of Internal Affairs
The order introduces changes to the Technical Description of the Driver Training Certificate form. A new special marking on the forms is introduced, which will ensure the identification of the certificates.
Review of each of legal acts published today:
On the Accounting Price of Banking Metals
The National Bank of Ukraine has published the accounting prices for banking metals as of October 28, 2024. According to the announcement, the accounting price for one troy ounce of gold is 112,567.72 UAH, for silver is 1,374.30 UAH, for platinum is 41,851.40 UAH, and for palladium is 48,029.84 UAH. It is important to note that these prices do not obligate the National Bank of Ukraine to buy or sell these metals at the stated prices.
On the Official Exchange Rate of the Hryvnia to Foreign Currencies
The National Bank of Ukraine has published the official exchange rate of the hryvnia to foreign currencies as of October 28, 2024. The document presents the rates for various currencies, including: Australian Dollar (27.4115 UAH), US Dollar (41.3135 UAH), Euro (44.7136 UAH), and British Pound (53.6538 UAH). The rates are provided for accounting and other legislative purposes, without obligating the NBU to buy or sell currencies at these rates.
Information on the Termination of International Treaties
This document contains information about the termination of the international agreement between Ukraine and the Republic of Latvia regarding cooperation in education, science, and culture, which was signed on November 21, 1995. The agreement was registered in the single state register of normative legal acts under code 30568/2004. It was published in the “Official Bulletin of Ukraine” on November 19, 2004. According to information from the Ministry of Foreign Affairs of Ukraine, the agreement ceased to be effective on November 21, 2005.
On the Appointment of V. Nazarenko as the Head of the Romny District State Administration in Sumy Oblast
The Decree of the President of Ukraine No. 117/2024-rp dated October 24, 2024, appoints Valentina Nazarenko as the Head of the Romny District State Administration in Sumy Oblast.
On the Appointment of T. Kucheryava as the Head of the Rozdolsk Village Military Administration of Vasylivka District in Zaporizhzhia Oblast
The Decree of the President of Ukraine appoints Tetyana Kucheryava as the Head of the Rozdolsk Village Military Administration of Vasylivka District in Zaporizhzhia Oblast. This decision was made on October 24, 2024.
On the Dismissal of S. Prashchur from the Position of Head of the Shchastyn City Military Administration of Shchastyn District in Luhansk Oblast
The Decree of the President of Ukraine concerns the dismissal of Serhiy Prashchur from the position of Head of the Shchastyn City Military Administration of Shchastyn District in Luhansk Oblast. The document was signed by President V. Zelensky on October 24, 2024.
On Amendments to Certain Normative Legal Acts of the National Bank of Ukraine
Analysis of the Resolution of the Board of the National Bank of Ukraine No. 127 dated October 18, 2024
General Provisions
Resolution No. 127 introduces changes to a number of normative legal acts of the National Bank of Ukraine (NBU), aimed at aligning them with current legislation, as well as improving regulation and supervision of activities in the financial services market.
Main Changes
1. Changes to Resolution No. 39 dated March 6, 2022
- Supplementing paragraph 20-1 with new requirements concerning physical and informational accessibility of premises for servicing clients with disabilities and persons with reduced mobility.
- Dividing paragraph 20-19 into two separate subparagraphs 20-19 and 20-20, regulating the exclusion of certain regional subdivisions from the list of subdivisions where hostilities or temporary occupation are taking place.
2. Changes to Various NBU Regulations
- Approval of amendments to the Regulations on the application of enforcement measures for violations of legislation in the payment market, the procedure for authorizing the activities of providers of financial payment services, off-site supervision of financial service activities, etc.
- Amendments to the Regulations on general requirements for documents, including the addition of information on mandatory civil liability insurance for owners of ground vehicles.
3. Obligations of Financial Service Providers
- Financial service providers are required to ensure physical and informational accessibility of their premises for clients with disabilities and other persons with reduced mobility.
- To provide up-to-date and reliable information about accessible premises through various communication channels, including websites, mobile applications, contact centers, and publicly accessible locations.
4. Recognition of Services as Financial and Payment Services
New criteria and procedures have been established for recognizing services or operations as financial or limited payment services, as well as procedures for detecting unlicensed activities in the non-banking financial services market.
5. Authorization and Reputation of Key Individuals
- New requirements have been established for the business reputation and professional suitability of key individuals of financial service providers.
- Procedures for submitting requests for the non-application of indicators of unsatisfactory business reputation to individuals, including those who are part of international corporate groups, have been introduced.
6. Off-Site Supervision
Timelines and procedures for responding to written requests from the NBU regarding off-site supervision have been established, including the possibility of extending deadlines for providing necessary information under certain conditions.
7. Amendments to Document Approval Procedures
New requirements have been added to the procedure for approving statutes, candidates for managerial and other key positions in the Motor (Transport) Insurance Bureau of Ukraine (MTIBU), as well as for concluding outsourcing contracts.
8. Administrative Liability
New grounds have been established for holding individuals administratively liable for violations of the procedure for providing financial services, as well as limiting opportunities for individuals who have lost trust according to NBU decisions to hold managerial positions in legal entities.
9. Effective Date
The resolution shall come into effect on the day following its official publication, except for paragraph 3, which will come into effect on January 1, 2025.
Recognition of the Invalidity of Previous Resolutions
The following resolutions are recognized as invalid:
- Resolution No. 114 dated November 5, 2021, regarding the procedure for disclosing information by non-banking financial institutions;
- Paragraph 2 of Resolution No. 56 dated March 21, 2022, regarding amendments to certain normative legal acts of the NBU.
Notification of Financial Service Providers
The Department of Methodology for Regulating Activities of Non-Banking Financial Institutions is instructed to inform financial service providers and financial payment service providers about the adoption of this resolution after its official publication.
Final Provisions
Financial service providers have until March 31, 2025, to bring their activities into compliance with the new requirements of Regulations No. 217 and No. 199 considering the amendments made.
On Recognizing Certain Normative Legal Acts of the National Bank of Ukraine as Invalid
Analysis of the Resolution of the Board of the National Bank of Ukraine No. 126 dated October 18, 2024
This document is a Resolution of the Board of the National Bank of Ukraine aimed at updating the bank’s normative legal acts. The main purpose of the resolution is to recognize certain previous normative acts that previously regulated the activities of the National Bank of Ukraine as invalid.
Main Provisions of the Resolution
- Recognition of Acts as Invalid:
In accordance with Articles 7, 15, and 56 of the Law of Ukraine “On the National Bank of Ukraine,” the NBU Board decides to recognize the following normative legal acts as invalid:-
Resolution No. 175 dated April 21, 2004
This act “On Approval of Certain Normative Legal Acts of the National Bank of Ukraine” was registered with the Ministry of Justice of Ukraine on May 17, 2004, under number 618/9217. According to Resolution No. 126, this document is no longer in effect. -
Paragraph 2 of Resolution No. 39 dated February 2, 2009
This paragraph concerns “Amendments to Certain Normative Legal Acts of the National Bank of Ukraine” and was…**Document No. 126 dated October 18, 2024**This resolution recognizes previous legal acts as invalid. Specifically, it invalidates the document issued on February 18, 2009, under number 150/16166. Resolution No. 126 defines this provision as invalid.
**Resolution No. 144 dated December 21, 2018**
This document “On amendments to the Regulations on the functioning of information systems of the National Bank of Ukraine and banks during a special period” has also been declared invalid in accordance with the new resolution.
**Control over the implementation of the resolution:**
The responsibility for monitoring compliance with this resolution is assigned to the Deputy Governor of the National Bank of Ukraine, Oleksii Shaban. This means he will be responsible for ensuring adherence to the new legal norms and the elimination of invalid acts.
**Entry into force:**
The resolution shall enter into force the day following its official publication. This is a standard procedure that ensures a smooth transition from old to new regulatory acts without interfering with the bank’s ongoing activities.
**Conclusion**
The Resolution of the NBU Board No. 126 dated October 18, 2024, is an important step in regulating the activities of the National Bank. The recognition of previous regulatory acts as invalid contributes to the renewal and updating of the bank’s internal documents, which, in turn, may affect the further functioning of the financial system of Ukraine.
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**Some issues concerning the activities of specialists in support of war veterans and demobilized persons**
The Cabinet of Ministers of Ukraine has resolved to allocate a subsidy from the state budget to local budgets for 2024 to support the activities of specialists assisting war veterans and demobilized persons. The total volume of the subsidy amounts to 97.3 million hryvnias, distributed among various regional budgets. The resolution also amends existing provisions, including clarifications in the Procedure for providing psychological assistance and changes in the Regulations on the Unified State Register of War Veterans. The main goal of these changes is to enhance support for veterans and the adaptation of specialists working with them in municipal institutions. Specifically, a mechanism for providing the subsidy is established, covering the salaries of specialists, their training, and the arrangement of workplaces. The Ministry of Veterans Affairs will be responsible for coordinating the activities of specialists and monitoring their work.
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**On amendments to certain laws of Ukraine regarding the procedure for enlistment in military service and the passage of military service under contract by foreigners and stateless persons in the Armed Forces of Ukraine, the State Special Transport Service, and the National Guard of Ukraine**
The Law of Ukraine amends several legislative acts regulating the procedure for enlistment of foreigners and stateless persons in military service in the Armed Forces, the State Special Transport Service, and the National Guard of Ukraine. Key provisions include:
– Access of foreigners to state secrets is possible only in exceptional cases based on international treaties or presidential orders.
– Foreigners and stateless persons may voluntarily enter into military service contracts, provided they meet certain requirements, including the absence of criminal records and passing a special verification.
– A Recruitment Center for Foreigners is introduced, which will be responsible for selecting and verifying candidates for military service.
– During the special verification, the legality of stay, information regarding violations, and ties to persons that may threaten national security will be checked.
– Foreigners who have entered into a contract are considered to be temporarily residing in Ukraine for the duration of the contract and three months after its termination.The law comes into force the day following its publication, with certain provisions taking effect in three months.
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**On the basic principles of state climate policy**
**Purpose and Objectives**
The law establishes the fundamental principles, goals, and directions of state policy in the field of climate, aimed at reducing the negative impact of human activities on climate change. The primary goal is to ensure sustainable development of the country by adapting to climate change and reducing greenhouse gas emissions.
**Principles of State Climate Policy**
The policy is based on the following principles:
– Sustainable development
– Efficient resource use
– International cooperation
– Transparency and accountability**Strategies and Goals**
The law sets out specific strategies to achieve climate goals, including:
– Reducing greenhouse gas emissions by a specified percentage by 2030
– Developing renewable energy sources
– Increasing energy efficiency across all sectors of the economy
– Developing and implementing technologies for adaptation to climate change**Management Bodies and Responsibilities**
The law provides for the establishment of specialized bodies to coordinate and implement climate policy. Their duties include:
– Developing regulatory acts in the field of climate
– Monitoring and reporting on the achievement of climate goals
– Supporting scientific research and innovations in ecology
– Cooperating with international organizations and partners**Funding Mechanisms**
The law outlines sources of funding for climate policy, including the state budget, international grants, private investments, and other financial instruments. Mechanisms for stimulating investments in green technologies and eco-initiatives are provided.
**Control and Enforcement**
To ensure the effective implementation of the law, a system of control and reporting is established, including regular monitoring of the achievement of climate goals, evaluation of the effectiveness of implemented measures, and public information regarding accomplishments and challenges.
**International Cooperation**
The law emphasizes the need for Ukraine’s active participation in international climate initiatives and agreements, contributing to global efforts to combat climate change and exchanging experiences with other countries.
**Amendments and Additions**
Procedures for making amendments and additions to the law are defined, taking into account new scientific data, international experience, and the country’s internal needs in responding to climate changes.
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**On amendments to certain regulatory acts of the Ministry of Justice of Ukraine**
The Order of the Ministry of Justice of Ukraine dated September 18, 2024, introduces amendments to regulatory acts, including the Instruction on the organization of compulsory enforcement of decisions and the Procedure for the realization of seized property. Specifically, the possibility of suspending the forced sale of the debtor’s property in cases provided for by the new provisions of the Budget Code of Ukraine is introduced. The order establishes the procedure for the auction organizer’s actions upon receiving orders from the executor to suspend enforcement actions. The order comes into force on the day of its official publication.
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**On consideration of remarks made by the state registration authority regarding the Order of the Ministry of Agrarian Policy and Food of Ukraine dated September 3, 2024, No. 3060**
The Order of the Ministry of Agrarian Policy and Food of Ukraine dated September 18, 2024, No. 3501 provides for amendments to the requirements of the typical control plan previously approved by the order of September 3, 2024. Specifically, the document contains corrections in the text, such as punctuation marks, clarifications of registry names, wording of terms, and clarification of the roles of market operator representatives. It also stipulates that the order takes effect from the moment of its official publication, and the control over its implementation is entrusted to the Deputy Minister.
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**On amendments to the Technical description of the form of the driver’s training certificate (on plastic basis)**
By the Order of the Ministry of Internal Affairs of Ukraine dated September 10, 2024, No. 619, amendments were made to the Technical description of the driver’s training certificate form on a plastic basis. Specifically, information was added about the special marking on the forms, consisting of three letters and six digits. It is established that certificates issued on forms without such marking remain valid for the duration of their validity. The order comes into force from the moment of its official publication.The Order of the Ministry of Agrarian Policy and Food of Ukraine approves the Requirements for the Standard Control Plan for the Certification of Agricultural Products and Foodstuffs. It defines the structure of the control plan, which consists of an introductory, descriptive, research sections, and conclusions.
The introductory part of the plan includes information about the geographical indication and traditional guaranteed features, as well as information about the certification body and the market operator. The descriptive section contains requirements for inspections, their frequency, duration, and scope.
The research section records the results of inspections, including non-conformities of the products with the specifications, while the conclusions are formed based on the results of the inspections, allowing for the issuance of a certificate or the denial of its issuance. The requirements are mandatory for application by all certification bodies.
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Resolution No. 175 dated April 21, 2004
