Nina Yuzhanina, a member of the Verkhovna Rada Committee on Finance, Taxation and Customs Policy, in a commentary to UNN criticized draft law No. 13007 on the Deposit Guarantee Fund, saying that the MPs who signed it did not fully understand its implications. She emphasized the need to review the Fund's activities, in particular in terms of transparency of the competitive selection of management.
Context
Danylo Hetmantsev, Chairman of the Parliament's Tax Committee, submitted to the Verkhovna Rada a draft law "On Amendments to Certain Legislative Acts of Ukraine Regarding the Settlement of Certain Issues of the Deposit Guarantee Fund, the National Bank of Ukraine and Collective Investment Institutions." After a detailed study of the document, it became clear that the proposed amendments contradict the Constitution of Ukraine in terms of the right of citizens to free possession of property, as well as the right to judicial appeal and a fair trial. In addition, Hetmantsev's legislative initiative violates a number of existing laws and creates major corruption risks.
Today, together with experts, we are analyzing all the rules proposed by this draft law 13007. Why? Because in general, the operation of the Deposit Guarantee Fund is such a complex topic, it is an institution within the bosom of the National Bank, but it is endowed with great powers, which already raise a lot of questions from experts, society, lawyers, and attorneys. That's why, you know, when the chairman of the committee suggested that the committee members join the supposedly progressive draft law on amendments to the law on the Deposit Guarantee Fund, I was surprised
According to her, the MPs who signed the document do not fully understand its content and consequences. "I am sure that the signatories of this draft law are completely unaware of the effect of these norms and what the changes are. In general, no one in the committee is trying to understand the work of this institution," Yuzhanina said.
She emphasized that the work of the Deposit Guarantee Fund needs to be seriously reviewed, in particular with regard to the competitive selection of management and employees, who currently have enormous powers, perhaps even greater than those of the supervisory authorities.
In this regard, Yuzhanina and a team of experts are working on an alternative draft law. She noted that this option would be aimed at eliminating corruption risks and ensuring transparency of the Fund's work so that its activities meet modern standards of the executive branch.
We are working on an alternative draft law. We have gathered people who know what they are talking about and can analyze and demonstrate what the problems are for banks that fall into the hands of the Deposit Guarantee Fund, where there are huge opportunities for corruption. This is what we are now dealing with in order to remove all these norms and propose to MPs to adopt changes that will strengthen the institution not for their personal enrichment or use of the property of the banks that fall into their hands, but to fulfill the tasks assigned to them. This is to ensure all creditors' claims, including those of the National Bank of Ukraine
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The founder of Kasyanenko & Partners Law Firm, Dmytro Kasyanenko , criticized Hetmantsev's draft law limiting the timeframe for appealing against decisions of the State Deposit Fund in courts to 1 month. According to him, this contradicts the general principles of civil law and creates preconditions for abuse by responsible officials. The lawyer emphasized that this does not comply with Article 55 of the Constitution of Ukraine, which guarantees everyone the right to judicial protection, and also contradicts the practice of the European Court of Human Rights, which requires reasonable time limits for applying to the court.