Essentially
Corrupt money
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Corrupt money
Legal event:
The President signed the Law on the national Agency for the tracing of assets derived from corruption and other crimes (bill No. 3040).
Impact on business:
The law provides the mechanism for identifying assets that are the subject of arrest, return and management of assets arrested, but also defined the legal bases of organization and activity of responsible for this separate independent body.
In accordance with the law of the National Agency of Ukraine on identification, investigation and management of assets derived from corruption and other crimes, - a body with wide powers, high guarantees of independence, which at the same time has a sufficient number of mechanisms of control by professionals and public, specially authorized on the identification, investigation and management of criminal assets.
The main tasks of the National Agency, in particular, the analysis of statistical dates, research results and other information regarding the identification, investigation and asset management; implementation of measures for the identification, tracing, valuation of assets at the request of the investigator, Prosecutor, court (investigating judge); maintenance of the Unified state register of assets that are seized in criminal proceedings.
The Agency also will participate in the representation of rights and interests of Ukraine in foreign jurisdictional bodies in matters relating to the return of assets derived from corruption and other crimes, to Ukraine.
Control over the activities of the National Agency will be through the mechanisms of public Council, Commission and external control (by analogy with the evaluation of the activity of the National anticorruption Bureau of Ukraine) and the annual publication of a detailed report on the work of the Agency in the reporting year.
The creation of the Agency on return of assets is one of the necessary requirements to be fulfilled by Ukraine of the action Plan on visa liberalization with the EU.
The adoption by Ukraine of the European regulations of the effective investigation and management of seized assets and their confiscation in order to ensure efficient cooperation with the European agencies for criminal justice and to return to Ukraine criminally derived assets.
However:
The National Agency should be created and begin its work within three months from the date of entry into force of the Law.
Legal event:
The President signed the Law on the national Agency for the tracing of assets derived from corruption and other crimes (bill No. 3040).
Impact on business:
The law provides the mechanism for identifying assets that are the subject of arrest, return and management of assets arrested, but also defined the legal bases of organization and activity of responsible for this separate independent body.
In accordance with the law of the National Agency of Ukraine on identification, investigation and management of assets derived from corruption and other crimes, - a body with wide powers, high guarantees of independence, which at the same time has a sufficient number of mechanisms of control by professionals and public, specially authorized on the identification, investigation and management of criminal assets.
The main tasks of the National Agency, in particular, the analysis of statistical dates, research results and other information regarding the identification, investigation and asset management; implementation of measures for the identification, tracing, valuation of assets at the request of the investigator, Prosecutor, court (investigating judge); maintenance of the Unified state register of assets that are seized in criminal proceedings.
The Agency also will participate in the representation of rights and interests of Ukraine in foreign jurisdictional bodies in matters relating to the return of assets derived from corruption and other crimes, to Ukraine.
Control over the activities of the National Agency will be through the mechanisms of public Council, Commission and external control (by analogy with the evaluation of the activity of the National anticorruption Bureau of Ukraine) and the annual publication of a detailed report on the work of the Agency in the reporting year.
The creation of the Agency on return of assets is one of the necessary requirements to be fulfilled by Ukraine of the action Plan on visa liberalization with the EU.
The adoption by Ukraine of the European regulations of the effective investigation and management of seized assets and their confiscation in order to ensure efficient cooperation with the European agencies for criminal justice and to return to Ukraine criminally derived assets.
However:
The National Agency should be created and begin its work within three months from the date of entry into force of the Law.