№4811 Draft law on amendments to several legislative acts of Ukraine to create effective mechanisms to identify the illegally acquired property and to prevent its use contrary to the interests of the public and the state

The aim of a draft law

Similarly to the draft law No. 4057, the draft law No. 4811 introduces a procedure of forfeituring funds, securities, precious metals and gem stones to the state budget without a guilty verdict. Both the assets of persons suspected of committing corruption crimes and put on the wanted list, and those of any third party who acquired them from the suspects before or during the criminal proceedings can be seized. The assets shall be seized provided that it has been proven that the cost of the assets exceeds the official income of their owners or there is a lack of evidence of the legality of asset acquisition or it is impossible to identify the property owner.Despite its declared goal, the draft law No. 4811 will not help to recover the assets of former officials employed during the presidency of Yanukovych. On the contrary, it gives grounds for legalizing them through the European Court of Human Rights (ECHR). In this case, Ukraine will be obliged to return the confiscated assets along with huge compensations. The draft law makes it possible to seize the assets of third parties, bona fide purchasers, and fails to create any safeguards for the rights of such persons.

Date of registration
14.06.2016
Стан проходження
Відкликано

ПІДТРИМАНО РПР

Draft law page on Verkhovna rada website