Zelensky signs law on lease of state and municipal property

"President of Ukraine Volodymyr Zelensky has signed Law No. 157-IX 'On the Lease of State and Municipal Property,' which the Verkhovna Rada approved on October 3, 2019," the report reads.

The law establishes a simple and transparent procedure for leasing state and municipal property, which is more advantageous due to free competition.

The document gives the new wording of the law on the lease of state and municipal property, as well as amends the Economic and Civil Codes, the Code on Bankruptcy Procedures and a number of laws, defining the legal, economic and organizational relationships related to the lease of state and municipal property.

According to the law, the lease of state and municipal property will be carried out by selling the right to lease the property at an electronic auction in an electronic trading system. The system will make publicly available the information about agreements on the lease of state and municipal property.

The document sets out clear stages and timing of the procedure for the lease of state and municipal property not used by the state.

In addition, according to the law, databases of two public lists of state and municipal property will be created, in particular, the list of the first type (the list of facilities that have been approved for lease at an auction) and the list of the second type (the list of facilities that have been approved for lease without an auction).

The law also defines the list of cases in which individuals and legal entities are not allowed to lease state and municipal property.

op