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27.07.2020The CCU took into account the CGPA’s expert opinion on mandatory pay to the budget of a part of profit by companies with the state share

According to its own mission, CGPA is a center of knowledge, expertise, and experience-sharing for specialized professionals of Ukrainian business. It provides business and government structures with recommendations on corporate governance issues. And these are not just words!

In January 2020, the Constitutional Court of Ukraine asked the CGPA to express its position on the constitutional complaint, which was under consideration. Request from the CCU.

The CGPA Law Committee concluded that the norm of the fifth paragraph of Article 11.5 of the Law of Ukraine “On Management of State Property” is unconstitutional and  contradicts the Constitution of Ukraine. Full text of CGPA’s conclusion.

On July 22, the First Senate of the Constitutional Court of Ukraine adopted a Decision upon the constitutional complaint of Stock Company Closed Non-diversified Venture Corporate Investment Fund AVANPOST (SC AVANPOST) on compliance of paragraph 8 of Article 11.5 of the Law of Ukraine “On Management of State Property” of September 21, 2006 № 185–V as amended (hereinafter – the Law) with the Constitution of Ukraine.

Thus, when deciding on the case, the CCU took into account the majority of arguments presented by the CGPA specialists.

Members of CGPA Oleksandr Okuniev (Ukrainian Institute of Corporate Governance), Yevgen Petryk (EMCON), Evgeniy Krut (DTEK), Oksana Zaika (DTEK), Volodymyr Igonin (Vasil Kisil & Partners), Yana Manuilova (Ukrnafta), Evgeniy Koloda (Donbasenergo), Volodymyr Lavrynovych (LCF JSC) participated in the preparation of the opinion.

The Law Committee of CGPA regularly prepares and provides expert opinions to legislative, executive, and judicial authorities on complex and contentious corporate law issues.