#Martial law rules code#

Some transactions are permitted from seized accounts.Changes to enforcement proceedingsĮnforcement proceedings shall be suspended, the replacement of the recoveror is prohibited in the enforcement proceedings where such recoveror is the Russian Federation, a citizen of the Russian Federation or a legal entity registered under the laws of the Russian Federation (or have a Russian beneficial owner) until the law on the settlement of relations with persons associated with the aggressor state enters into force. The borrower is released from the obligation to pay penalties (fines) to the lender.

#Martial law rules code#

Similar to the above changes to the Civil Code of Ukraine, during martial law, the state of emergency 1 and 30 days after, individual borrowers are released from liability in case of inability to fulfill obligations under their consumer loan agreement.

The same extension applies to the term of the suretyship and other procedural terms. In addition, the statutory limitation period has been extended for martial law or the state of emergency period in Ukraine. Any such penalties, which accrued after Februfor an overdue payment are subject to write-off by lenders. In case of overdue payments under loan agreements, borrowers are released from the obligation to pay penalties (fines). During martial law, the state of emergency and within 30 days after its cancellation, borrowers under loan agreements are released from liability in case of inability to fulfill their monetary obligations. The Law introduces changes to the Civil Code of Ukraine. On March 15, 2022, Ukraine enacted the Law “On Amendments to the Tax Code of Ukraine and Other Legislative Acts of Ukraine Concerning Action of Norms for the Period of Martial Law” (the “ Law”). To provide relief to Ukrainian individuals and businesses in the context of the war and the implementation of martial law, Ukraine has introduced a number of legislative relief measures.