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Law No. 1865-IX “On Fund for partial guarantees of credits in agriculture.”

Country/Territory
Ukraine
Document type
Legislation
Date
2021
Source
FAO, FAOLEX
Subject
Agricultural & rural development
Keyword
Authorization/permit Special fund Financial agricultural measures Credit Subsidy/incentive Business/industry/corporations Contract/agreement
Geographical area
Black Sea, CIS (Commonwealth of Independent States), Eastern Europe, Europe, Europe and Central Asia
Entry into force notes
This Law enters into force on the day following its publication.
Abstract

This Law defines the legal status, specifics of the formation and principles of activity of the Fund for the partial guarantee of credits in agriculture, establishes the procedure for determining the criteria for business entities and financial institutions, obligations under credit agreements between which can be guaranteed by the Fund. The Fund for the partial guarantee of loans in agriculture is a non-banking financial institution with a special status, which performs the functions of providing support to subjects of micro-enterprises, small and medium-sized enterprises, natural persons - entrepreneurs conducting activities in the field of agriculture, through partial guarantee of the fulfillment of the obligations of such entities under credit agreements. The Fund does not belong to the category of state trust funds, acquires the status of a financial institution and the right to provide financial services after its inclusion in the State Register of Financial Institutions, which is maintained by the National Bank of Ukraine, and obtaining a license in accordance with the procedure established by law and regulatory legal acts National Bank of Ukraine. Participants of the Fund, in addition to the state, can be international financial organizations and other legal entities. The Fund can be a recipient of budget funds. The participants of the Fund have the right: (a) to participate in the management of the Fund in the manner prescribed by this Law; (b) receive information about the financial and economic activities of the Fund; (c) participate in the distribution of the net profit obtained as a result of the financial and economic activity of the Fund; (d) cede one's share or part of it in the authorized capital of the Fund in accordance with Article 3 of this Law; (e) to receive, in the event of liquidation of the Fund, part of the property remaining after settlements with creditors, or its value; and (f) other rights provided for by this Law and the Fund's Statute. Fund participants are obliged to: (a) implement the decisions of the General Meeting of Fund participants and the Fund Council; and (b) perform the duties established by this Law and the Foundation's Statute.

Full text
Ukrainian
Website
zakon.rada.gov.ua