New Type of Securities – Agricultural Notes, Catalog of UA Exporters

Law on Improvement of Corporate Governance Enters into Force

On 8 March 2024, Law No. 3587-IX “On Amendments to Certain Legislative Acts of Ukraine on Improving Corporate Governance of Legal Entities in Which the State Is a Shareholder (Founder, Participant)” came into force.

In addition to being important for improving Ukraine’s corporate legislation, the Law is also a prerequisite for Ukraine’s accession to the EU.
For more information on the key changes introduced by the Law, please read our post here.

In 2025, New Type of Securities – Agricultural Notes – Will Appear in Ukraine

The relevant Law No. 3586-IX has already been adopted and will come into force on 1 January 2025.

Thus, an agricultural note is a non-issue security that is an independent object of circulation in the capital markets and certifies the debtor’s unconditional obligation to deliver agricultural products or pay money to the creditor in accordance with the terms and conditions specified in such a security. The creditor will also be able to easily sell this security and use the received money for further lending to farmers under the new electronic agricultural notes.

Among the advantages of agricultural notes is the possibility of issuing them in a personal e-cabinet in a specially created Register of Agricultural Notes, without the cost of notary services, as well as their reliability – if the debtor does not fulfill obligations under the agricultural note, the creditor can obtain a writ of execution for the relevant recovery by applying to the Register of Agricultural Notes.

It is reported that the Law will help agricultural producers to gain wider access to loans to finance their activities, as well as increase the number of lenders able to finance the agricultural sector.

Ministry of Digital Transformation Announces Launch of Information Campaign to Support Ukrainian Exports

The purpose of this campaign is to draw the attention of foreign consumers to Ukrainian goods and services, as well as to familiarize international companies with the Catalog of Ukrainian Exporters.

To increase foreign interest in exports from Ukraine, the Ministry of Digital Transformation created the Catalog of Ukrainian Exporters, a free online service designed to establish direct business contacts between foreign companies and Ukrainian producers.

The catalog is available on the Diia.Business portal and already contains profiles of more than 500 verified Ukrainian companies.
For more information on the requirements and how to join the Catalog, please follow the link.

Official Website of International Register of Damages is Launched

On 4 March 2024, the official website of the International Register of Damages Caused by the Aggression of the Russian Federation against Ukraine was launched. The website provides all the news and events related to the work of the Register.

Currently, the website is available in English and Ukrainian.

As a reminder, the Register was established pursuant to the Resolution CM/Res(2023)3 of the Committee of Ministers of the Council of Europe dated 12 May 2023.

Ukrainian Businesses Will Be Able to Officially Use the Name of State and Imitation of Small Coat of Arms in Trademarks

The Order of the Ministry of Economy No. 19944, which regulates the process of obtaining the relevant permits, came into force on 27 February.

The Ministry of Economy explains that this order creates legal conditions for the work of the Commission for granting permission to use the official name of the state of Ukraine in a trademark and/or to include an imitation of the small Coat of Arms of Ukraine in the trademark image, which is planned to be created in the near future and which will be responsible for reviewing and deciding whether to grant or not the relevant permission.

It is important to note that the right to use the name of the state and/or the Coat of Arms may be granted to citizens of Ukraine, individual entrepreneurs and legal entities.