As part of the implementation of the law on strengthening the institutional capacity ofARMA, on 29 April the Cabinet of Ministers of Ukraine approved standardagreements for the management of seized assets developed by ARMA.

The decision of the Cabinet of Ministers of Ukraine is an important step in the reformof the asset management system, which unifies approaches to the selection ofmanagers and increases the transparency of procedures, making them more clear andpredictable.

The standard agreements establish clear rules for all participants: they define thebasic conditions for asset management, the procedure for calculating costs, mechanisms for transferring revenues, as well as the rights and responsibilities ofmanagers.

The scope of these documents applies to movable and immovable property, as well ascorporate rights (shares, stakes and units).

The introduction of such agreements is intended to strengthen the efficiency oftransferring assets into management, ensure economic results and proper statecontrol, as well as create conditions for attracting professional managers.