OREANDA-NEWS. May 30, 2013. An activity of interdepartmental commission on the protection of investors’ rights, combatting illegal merger and takeover of entreprises has been resumed. This is contained in a resolution by the Cabinet of Ministers of Ukraine “On making changes to the resolution of the Cabinet of Ministers of Ukraine of February 21, 2007 № 257” which was approved at a Government’s session.

The respective document contains reformatting of composition of the Commission. In particular, it is chaired by the First Vice Prime Minister of Ukraine Serhiy Arbuzov. Besides, the general status of the Commission was raised significantly. So, leaders of the body comprise top persons of ministries and departments instead of their deputies, as it was before. The mentioned actions shall contribute to more operative and effective activity of this body.

Moreover, tasks and functions of the Commission were enlarged, in particular it contains protection of investors’ rights. 

Serhiy Arbuzov promised to stir up the activity in this direction. So, on commission of the First Vice Prime Minister of Ukraine there will be elaborated a program of fight against corporate raids within nearest time.

“Approval of the document which generalizes legislative norms and practice of counteraction to this phenomenon will help in shortest terms not only to reveal and neutralize raider’s displays but contribute to returning of taken over objects to their real owners. A peculiar attention in the document will be paid to an issue of protection from unlawful attacks on property and investors’ rights,” he noted.  

Serhiy Arbuzov assured that to ensure reliable protection of the property right it was important to have a factor of public control, which would facilitate to openness in activity of the Commission. According to him, with this aim entrepreneurs’ alliance will be attracted to implementation of the program.

The First Vice Prime Minister of Ukraine stressed that after approval of a respective decision by the Government the first sitting of the Commission would be planned in the nearest time.