News (#09 September 2018)

Draft

Use of social advertising for election campaigning

Ukrainian MP Viktoria Siumar submitted Draft Law No. 8616 of 16 July 2018 to regulate dissemination of social advertising on television and radio.

Thus, the Draft establishes that social advertising should not encourage voters to vote for or against a particular subject of the electoral process. Accordingly, social advertising, which is disseminated by the order of a state authority or a local self-government body, their officials, should not contain information promoting creation and maintenance of awareness about, interest in a particular political party, electoral bloc, and their programs, agreements, political events, which they conduct or support. Thus, the advertisement containing the above-mentioned information cannot be considered to be social advertising.

Bonds for local development funds proposed

According to the explanatory note, the Draft Law On Bonds of Local Development Funds of 27 August 2018, No. 9023 proposes a new instrument to raise funds for implementation of local investment projects specifically for the needs of territorial communities.

Unlike local loan bonds, which can be issued only by city councils, a decision to issue bonds of local development funds may be taken by regional, district, settlement and village councils.

Bonds of local development funds are infrastructure bonds under international classification.

Bonds of local development funds differ from corporate bonds and local loan bonds with the following parameters:

Ч Intended application of borrowed funds. Funds from placing (sale) of bonds to investors can only be used for construction, reconstruction of infrastructure facilities intended to meet the needs of territorial communities.

Ч The specific issuer is a local development fund.† It is a legal entity established by a local self-government body exclusively for the organization of funding for† construction, reconstruction of an infrastructure facility at the expense of funds received from the placing of bonds of a local development fund.

Ч Enhanced investor protection.
The risks borne by investors regarding bonds of local development funds are minimized by ensuring systematic controlled cash flow from local budget revenues intended for repayment of bonds and for payment of income on them, as well as complete disclosure of information in respect of receipt and intended application of funds.

Members of Parliament propose regulation of electronic cigarettes market

MPs Hanna Hopko and Oleh Musiy registered a Draft Law (No. 8601-1 of
26 July 2018), in which introduction of excise tax on liquids contained in electronic cigarettes in the amount of UAH 1.10 per milliliter, is proposed.

Moreover, the Draft proposes to legislatively define the concepts of УcigarsФ, УcigarillosФ, Уsmall cigarsФ and to establish a prohibition on sale of electronic cigarettes to minors, requirements for electronic cigarettes marking and for introduction of electronic cigarettes into the market.

In the event of the DraftТs adoption, it will come into force in 2019, in addition to changes in legislation, which oblige manufacturers and importers of electronic cigarettes and refill containers to notify the State Agency on Epidemiological Service about any products they intend to sell on the territory of Ukraine, and to specify information about the ingredients on packaging of refill containers and electronic cigarettes.

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