Draft law on the deoligarchization to be submitted to the Bureau of the Parliament today, October 10.

The project, initiated by the Legal Affairs Committee of the Parliament, was developed on the example of the Ukrainian law with a similar content and essentially repeats the norms of the Ukrainian law.

According to the project, an oligarch is a person with sizable economic and political significance in public life, who is a natural person and meets at least three of the following criteria at the same time:

a - participates in political life;
b - has a significant influence on media;
c - is the final beneficiary of the entrepreneurial legal entity, which has a dominant position in the market and which maintains or improves this position for 1 year;
d - the confirmed amount of his/her assets and those of entrepreneurial legal entities where s/he is a beneficiary, as of January 1 of the relevant year, exceeds 1,000,000 times the subsistence minimum established for working force persons.

According to the bill, a person known as an oligarch, whose data will be entered in the relevant register, will be restricted from certain financial activities.