The discussed Law is aimed at further expanding the export potential of business entities, effective regulation of civil law relations in the field of lease and leasing, within the framework of which additions and amendments are made to the laws "On Lease", "On Leasing" and "On Currency regulation".
The Law "On Lease" provides for the concept of a lease agreement with the condition of subsequent redemption, the specifics of the disposal of the object of the contract and its transfer as collateral, as well as foreclosure on it.
The law establishes that under a lease agreement with the condition of subsequent redemption, the lessor, by leasing the property belonging to him, undertakes to transfer it to the lessee's ownership after the lessee fulfills the terms of the contract, and the lessee undertakes to pay rent payments within the terms determined by the contract.
At the same time, from the moment of conclusion of the lease agreement with the condition of subsequent redemption, the property specified in the contract is considered to be pledged and it is prohibited to transfer this property to other persons as collateral or otherwise dispose of.
Also, the Law "On Leasing" introduces a provision according to which, unless otherwise provided by the lease agreement, from the moment of conclusion of the lease agreement, the object of the agreement is considered to be pledged to the lessee to ensure the fulfillment of the lessor's obligations.
It is established that the lessor does not have the right to use the leased object as collateral or dispose of it in any other way without the consent of the lessee.
In addition, it indicates the possibility of the lessee acquiring the leasing object into ownership, having fully paid its cost before foreclosure.
A new norm is introduced into the Law "On Currency Regulation", according to which an exemption from payment of a fine for failure to ensure the repatriation of assets in the amount of 5 percent of the amount of currency from the value of all products shipped for export under one export contract is provided.
According to the senators, the adoption of the Law directly serves to increase the export potential of entrepreneurs and the competitiveness of local products in foreign markets.
The Law also ensures legality in rental and leasing relations and prevents fraud crimes, while ensuring the rights of the subjects of leasing relations and eliminating legal gaps.
After discussions, the senators approved this Law, taking into account its relevance and necessity.
