Measure
2.4.4.6.13. Developing the draft of the Procedure by which the holder of the Unified State Register of Legal Entities, Individual Entrepreneurs, and Public Associations shall be notified by reporting entities about any discovered discrepancies in information about ultimate beneficial owners and the structure of ownership of legal entities
Measure status:
Actual execution date:
31.05.2023
The measure is aimed at achieving ESR:
2.4.4.6. Effective mechanisms for verification of information on the ultimate beneficial owners of legal entities under private law in the Unified State Register of Legal Entities, Individual Entrepreneurs, and Public Associations have been introduced
Problem solving:
2.4.4. A high level of tolerance of corruption in the private sector of the economy
Deadlines:
Responsible implementors (authorities):
Sources of funding:
state budget
Volumes of financing (thousand UAH):
within the established budget allocations for the relevant year
Performance indicator:
The draft Procedure has been developed and publicized for a public discussion.
Implementing status
Progress/Result of implementation:
The Ministry of Justice of Ukraine also developed a draft order titled “On Approving the Procedure for Notifying the Holder of the Unified State Register of Legal Entities, Individuals – Entrepreneurs, and Public Organizations Regarding the Identification of Discrepancies between the Information Obtained by the Primary Financial Monitoring Entity through Proper Due Diligence and the Information Available in the Unified State Register of Legal Entities, Individuals – Entrepreneurs, and Public Organizations about the Ultimate Beneficial Owners and/or Ownership Structure of a Legal Entity. The draft order was not published due to the absence of provisions specified in paragraph 12 of the Procedure for Public Consultation on the Formation and Implementation of State Policy, approved by Resolution No. 996 of the Cabinet of Ministers of Ukraine dated November 3, 2010.”
However, the performance indicator (criterion) for fulfilling this measure stipulates that the draft Procedure be published for public discussion. Nevertheless, the Ministry of Justice of Ukraine did not provide information confirming the publication of the draft Procedure.