Yes, yes, this is not a joke! As early as September 9, 2021, the draft Law on the Peculiarities of Regulation of Entrepreneurial Activities of Certain Types of Legal Entities and Their Associations in the Transition Period was published on the official website of the Verkhovna Rada (Register No. 6013).
In order to comprehensively solve the issue of the legal status of enterprises and the property basis of ensuring entrepreneurial activity, this project, among other things, provides:
• introducing changes, in particular, additions and exclusions, to the Civil Code of Ukraine and to some special laws with the aim of bringing them into line with the norms of civil legislation;
• recognition of the Economic Code of Ukraine as invalid;
• introduction of a seven-year transition period for the gradual termination of "enterprises" and their transformation into business partnerships.
In general, the draft law was developed to improve corporate governance in legal entities based on state and communal property, to increase the country's investment attractiveness, to introduce effective control mechanisms over the use of state and communal property, as well as to eliminate contradictions between the Civil Code of Ukraine and acts of special legislation.
However, it is currently impossible to talk about the time when the specified project will enter into force, because certain provisions of the draft law need to be revised, in particular by bringing its provisions into line with constitutional norms, as well as eliminating corruption and other risks.
Oleksandr Fedorko, attorney at Dynasty Law & Investment