Trust industry professionals (trustees, secretaries,
administrators, etc.) are quite often unaware of the existing
competition law requirements in Ukraine whereby some of their
actions may be qualified as triggering the necessity to obtain the
preliminary approval of the Antimonopoly Committee of Ukraine (the
"AMC") for transfer assets into trusts
or foundations.
Definition
The Law of Ukraine "On Protection of Economic
Competition" dated 11 January 2001 (as amended)
(the "Competition Law") provides
that certain actions of bodies corporate may constitute a
"concentration" which under specific circumstances may
require prior approval of the AMC. Amongst other definitions, the
concentration, according to the Competition Law, takes place in
case of:
