On April 19th, 2017 Law of Ukraine "On Amending Certain Legislative Acts of Ukraine on the Use of Seals by Legal Entities and Individual Entrepreneurs" No. 1982 as of March 23rd, 2017 was published in the Government Courier.
As soon as the Law enters into force, the certification of documents or their copies with a seal to apply to state authorities or local self-government bodies will not be compulsory. At the same time, signature of the person authorized to do so by a legal entity or signature of a sole trader is considered to be proper certification of documents and their copies. Please note that public authorities or local governments have the right to require notarization of a signature on copies of documents and not to accept them for consideration in the absence of such a certification only in the case when such a form of certification is required by the legislation of Ukraine.
In all other situations, in the event such illegal actions are committed by an official of a state authority or local government, the Law provides for a fine in the amount of fifty to one hundred non-taxable minimum income amounts.
In addition, the Law amended the rules for issuing documents employed in private-business relations. In particular, the Commercial Code of Ukraine is supplemented with a rule that directly establishes that parties cannot by a written agreement make use of a seal compulsory.
The Law proposes changes in the rules for issuing a power of attorney. In particular, the requirement that a power of attorney for a representative office be certified by a seal, if a legal entity or a sole trader has it, is cancelled.
The Law comes into force within 3 months of the date of its official publication. That is, as early as July 19th, 2017, the use of seals for business becomes voluntary and does not affect the validity of documents.
Legal Alliance Company, founded in 1995, is today one of the leading Ukrainian law firms specializing in legal support to pharmaceutical companies doing business in Ukraine and CIS countries. The Firm advisesleading companies working in the industries of pharmaceuticals, medical devices, consumer goods, healthcare, veterinary, cosmetics, parapharmaceuticals, chemistry, biotechnology, agriculture, food & beverages.
For additional information please contact Nataliia Duginova, duginova@l-a.com.ua, +380 44 425 40 50.
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