Rada passes law on decentralization of state registration services

The bill envisages the transfer of functions on providing state registration services to local agencies. The bill foresees the creation of a state register of companies, individual entrepreneurs, and public organizations run by the Justice Ministry of Ukraine. According to the bill, state registrars of companies, individual entrepreneurs and public organizations are persons relation with the subject of state registration, a notary. Justice Minister of Ukraine Pavlo Petrenko said that accredited persons could include public law companies, or state-run and municipal companies, which are in involved with at least three state registrars and which signed agreements on civil responsibility insurance with the minimum insurance sum of up to 1,000 minimum wages before they begin carrying out state registration duties. The minister said that the bill would allow for creating municipal companies which will provide high-quality services in the state registration sector. The document introduces the principle of extraterritoriality throughout the whole of Ukraine.