The Committee discussed with the II reading the Draft Law on De-Oligarchization, recognizing a natural person as a person with significant economic and political value in a social life (oligarch) who meets at least three of the following criteria: participates in the political life, affects the mass media, is an ultimate beneficiary of the individual entrepreneur dominating on the market, and maintains this position for a year or improves it, and the confirmed amount of his/her assets and the assets of the IEs exceeds the existence minimum for capable persons 1000000 times as of January 1 of a respective year.
The Draft describes the criteria for participation in political life and its effect on mass media. The decision on recognition of a person as an oligarch is taken by the Parliament. The Draft envisages the registration of the oligarchs in a special log; the registration rules, including its creation and management, shall be approved by the Parliament and ensured by the Staff.
The Draft regulates the legal outcomes of the recognition of the oligarch and his/her extraction from the register. The Draft is authored by the Working Group of the Committee set up in view of the development of the legal changes for the reception of the EU candidate status.