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Yanukovych signs controversial depositary system legislation
Journal Staff Report

KIEV, Oct. 1 – In spite of international business opposition, President Viktor Yanukovych has signed the law on the depository system in Ukraine, under which the single central depository and the single clearing center are created in the country, and which will be under the control of the state and the National Bank of Ukraine in the first years of their operation.

The document was signed on September 22, 15 days after the document was signed by Parliament Speaker Volodymyr Lytvyn, according to an announcement posted on the parliament's Web site on Monday.

Leading stock exchanges and international financial organizations, including the Visa International payments system, proposed that the president veto the law.




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