Ukraine’s parliament supports special procedure for law banning return of nationalized banks

The special procedure provides the abolishing of the consideration of the amendments to the bills, which were rejected by the committee.

In the event that the number of amendments introduced to the draft law exceeds the number of paragraphs (but no less than 500 amendments), a special procedure may be applied. A special procedure can be initiated by at least 150 MPs who shall apply to the chairman of the Verkhovna Rada with a motion. And the decision to consider a special procedure can be taken only by 226 votes. (Earlier, one MP was enough to insist on considering the amendment).

On March 30, the Verkhovna Rada of Ukraine has approved the Bill № 3260 "On amendments to the legislative acts of Ukraine on improving some mechanisms for regulation of banking activities". 267 MPs voted in favour.

The law permanently prohibits the return of nationalized banks to the former owners, prohibits the return of bankrupt banks, whose owners have succeeded in cancelling the resolution of the National Bank on their insolvency through the courts, to the market.

Source: Censor