On 30 December 2011 the Law of Ukraine On Introducing Amendments to Section X "Transitional Provisions" of the Land Code of Ukraine Concerning Prohibition on the Alienation and Rezoning of Agricultural Land took effect. It extends until 1 January 2013 the moratorium on the following actions:

a) the sale of state-owned and municipal land plots designated for agricultural use, except for the withdrawal (buy-out) of such land plots for public needs;

b) the sale and purchase or other alienation and change of designated use of land owned by individuals and legal entities which is zoned for agricultural production. Also falling under the moratorium is land allocated in kind to an owner of a land share ("pai") and zoned for private agricultural household, or land share ("pai"), except for the bequeathing of such land, exchanging it for another land plot pursuant to the requirements of law and withdrawal (buy-out) of land plots for public needs; and

c) the contribution of land share ("pai") into the charter capital of a business entity.

Any agreement (including power of attorney) made during the moratorium period regarding the sale, purchase, and other alienation of a land plot or land share mentioned above will be void as of the date of its execution.

For More Information:

Serhiy Piontkovsky

Managing Partner

+380 44 590 0101

serhiy.piontkovsky@bakermckenzie.com

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