Law No. 1555-VII “On state support of business entities”.

This Law establishes the legal framework for monitoring state support to economic entities, exercising control over the admissibility of such support for competition, and is aimed at ensuring the protection and development of competition, increasing the transparency of the functioning of the state support system, and complying with Ukraine's international obligations in the field of state support. State support to economic entities shall be intended support in any form of economic entities at the expense of state or local resources, which distorts or threatens to distort economic competition, creating advantages for the production of certain types of goods or the conduct of certain types of economic activities. Providers of state aid shall be intended authorities, local self-government bodies, bodies of administrative and economic management and control, as well as legal entities acting on their behalf, authorized to dispose of state resources or local resources and initiate and/or provide state support. Recipient of state aid shall be intended a business entity that receives state support. This Law shall apply to any support of economic entities by state aid providers at the expense of state or local resources for the production of goods or the conduct of certain types of economic activity, except for agricultural production and fishing, and public procurement procedures. State aid can be implemented, in particular, in the following forms: (a) provision of subsidies and grants; (b) providing subsidies; (c) granting tax benefits, deferral or installment payment of taxes, fees or other mandatory payments; (d) debt write-off, including debt for state services provided, write-off of penalties, compensation for losses to business entities; (e) provision of guarantees, loans on preferential terms, loan servicing at preferential rates; (f) reduction of financial obligations of business entities to mandatory state social insurance funds; (g) providing, directly or indirectly, goods or services to business entities at prices below market prices or purchasing goods or services from business entities at prices above market prices; (h) sale of state property at prices below market prices; and (i) increase in the state share in the authorized capital of business entities or increase in the value of the state share on terms unacceptable to private investors. This Law contains IX Sections divided into 17 Articles. Section I lays down general provisions. Section II regards admissibility of state support. Section III regards authorized body. Section IV regards new state support. Section V regards illegal state support and improper use of state support. Section VI regards return of state support not allowed for competition. Section VII regards active state support. Section VIII regards monitoring of state support. Section IX lays down final and transitional provisions.