On 18 May 2009, new requirements were introduced for the state to participate in the capitalisation of Ukrainian banks.
State participation is permitted when:
- the bank is subject to a temporary administration procedure, meets the system criteria set up by the NBU and is incorporated as an open (public) joint-stock company, and
- the ownership threshold is met
The ownership threshold is the acquisition by the state of:
- at least 75% plus one share of the bank's share capital on its own
- at least 60% plus one share of the bank's share capital on its own and at least 75% plus one share of the bank's share with another investor, or
- at least 60% plus one share of the bank's share capital on its own and at least 75% plus one share of the bank's share capital when combined with all shares transferred to it by other shareholders giving it the full rights to participate in and vote at general meetings with that 75% plus one share stake until it disposes of its shareholding
Law: The Resolution of the Cabinet of Ministers of Ukraine "On Amendments to the Cabinet of Ministers of Ukraine Resolutions No. 960, dated 4 November 2008 and No. 148, dated 18 February 2009" dated 17 April 2009, No. 429.
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The original publication date for this article was 20/05/2009.
