OREANDA-NEWS. October 26, 2012. All acts of the Cabinet regarding licensing of economic activities of arbitration managers will expire from January 19, 201.

The relevant decision on the termination of a number of regulations and certain provisions of legal acts of the Cabinet of Ministers on licensing of economic activities of arbitration managers was approved at the Government meeting on October 24, 2012.

According to Justice Minister Oleksandr Lavrynovych, the Ministry of Justice is currently developing new specific rules to be adopted in order to regulate the activities of arbitration managers as entities of independent professional activity.

Such changes the Minister explains the entry into force from 19 January 2013 the Law of Ukraine dated December 22, 2011 № 4212-VI "On Amendments to the Law of Ukraine "On Restoring the debtor's solvency or bankruptcy."

This law fundamentally changes the way of state regulation and legal status of arbitration managers (property managers, sanitation managing, the liquidators). In particular, the activities of arbitration managers removed from the list of activities subject to licensing, which is defined in Article 9 of the Law of Ukraine "On licensing certain types of activities." Arbitrage managers in accordance with Article 4 of the Law of Ukraine "On restoring the debtor's solvency or bankruptcy" is defined as entities of independent professional activity.