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The Ukrainian parliament (Rada) has refused to require joint-stock companies to spend at least 30% of their profits on payment of dividends. The first reading of the relevant draft law (No. 5183) received 154 votes; only 226 votes were required for its approval. The draft law provides for making the relevant amendments to the Law on Joint-Stock Societies. As Ukrainian News earlier reported, the Cabinet of Ministers on January 6 instructed enterprises in which the state owns shares to spend 30% of the profits they made in 2010 on payment of dividends. In April 2010, the Ukrainian Credit and Banking Association called on the parliament to reject the draft law No. 5183.

President Viktor Yanukovych has instructed the Cabinet of Ministers and the Security Service of Ukraine (SBU) to develop and submit proposals for creating a national integrated system of counteraction to cybercrime to the National Security and Defense Council (NSDC) by February 11, 2011, president's decree No. 1119 of December 10 declares. The president's decree put into effect the decision of the National Security and Defense Council of November 17 on challenges and threats to Ukraine's national security in 2011. The government shall have discussed improvement of the national information policy and put forward the related proposals to the president by March 11, 2011. The Cabinet of Ministers shall have developed and approved a plan for enhancing efficiency in coverage performance of executive power by March 11, 2011. The Cabinet of Ministers jointly with the Security Service of Ukraine (SBU) shall have outlined and approved a list of facilities which are important to ensure national security and national defense and which need urgent protection from cyber attacks. As Ukrainian News reported, in September, the Verkhovna Rada entitled the Ministry of Internal Affairs to maintain contacts with the countries signed the Convention on Cybercrime to provide assistance in investigation of crimes related to computer systems and data.

The Verkhovna Rada is likely to pass the new Air Code. First reading of draft law No.7144 received votes of 251 Members of Parliament, while 226 votes enough for approval. The draft new Air Code enshrines the division for state and commercial aviation, which was not the case in the current code. The authorised body in the state aviation is the Defence Ministry and the Cabinet of Ministers is to create a body responsible for commercial aviation. Besides, they plan to rule that the National Commission for Investigation into Aviation Accidents, set up by the government studies reasons of crashes. The draft Code also envisions that if an aircraft's airworthiness certificate is not prolonged during 24 months it is excluded from the register of commercial aircraft of Ukraine. Moreover, the draft code envisions age limitations for pilots of commercial aviation. To occupy the position of an aircraft captain, one has to be aged under 60 and under 65 if there are two pilots, who is younger than 60. The draft Code also defines limitations for construction on territory closed to the airport, bans location of open food wastes at distances closer than 15 kilometres from an airport, and construction of facilities attracting birds. Besides, the draft Code foresees a possibility of appointment of airport coordinator of the demand of air companies for services of an airport exceeds its capacity; the coordinator is charged with the airport slot regulation. The airport operator will be permitted to simultaneously operate the airfield and pass rights for land services to legal entities and individuals. The draft Code imposes ban for alienation, sale, exchange, transfer under collateral or lease of lands of airports (airfields), which are owned by communal or state institutions without relevant permit from the Cabinet of Ministers. Besides, the parliament intends to introduce a one-year ban on allocation of land plots on which it is planned to construct or expand the airport. The draft Code sets fines for different violations: 500 to 8,000 personal exemptions (between UAH 8,500 and UAH 136,000) for legal entities; 100 to 1,000 of personal exemptions (between UAH 1,700 and UAH 17,000) for individuals. The Code will take effect on day of its official publication. As Ukrainian News earlier reported, the Cabinet of Ministers on September 2 approved of the draft Air Code. The previous variant of the Tax Code was brought into force by the Rada's bylaw No.3168 on May 4, 1993.

The Cabinet of Ministers has approved procedures for using budget funds to finance creation of a Ukrainian-language version of the Euronews 24-hour television channel in 2010. The Cabinet of Ministers approved the procedures in its resolution No. 1009 dated October 27. According to the procedures, UAH 1,399,600 (EUR 127,200) is to be used to pay membership contribution, including contribution for financing expenditures related to purchase of foreign currency and payment of bank commission. UAH 34,081,260 (EUR 3,100) is to be used to finance the preliminary expenditures involving creation of a Ukrainian-language edition of Euronews and obtaining the right to broadcast and distribute the Ukrainian-language version of the television channel on the territory of Ukraine (including UAH 18,469,860 on payment of personnel wages, UAH 15,611,400 on operating expenditures and other expenditures). The procedures also provide for spending UAH 26,385,500 (EUR 2,400) on preliminary financing of expenditures involving the launching of the Ukrainian-language version of Euronews and beginning its broadcast and distribution on the territory of Ukraine (including UAH 8,135,500 on payment of wages, UAH 18,250,000 on provision of technical and other material resources). UAH 30,233,400 (EUR 2,750) is to be spent on payment of 50% of the 2011 annual fee for the license to broadcast and distribute the Ukrainian-language version of the television channel on the territory of Ukraine. In addition, UAH 183,600 is to be used to finance expenditures involving purchase of foreign currency and payment of bank commissions. The main distributor of the budget funds is the State Television and Radio Broadcasting Committee; the secondary distributor is the National Television Company of Ukraine. The Cabinet of Ministers resolution also stipulates that the National Television Company is to pay the 2010 membership contribution in accordance with the invoice issued. When the National Television Company needs to conduct settlements in foreign currency, the State Treasury is to buy foreign currency at the National Bank of Ukraine’s official exchange rate on the date of the operation and include the related expenditures in the expenditures under the relevant budget program. The budget funds remaining in the account of the distributor as of January 1, 2011, are to be returned to the state budget and the stabilization fund in accordance with the established procedures at the end of a fiscal year. As Ukrainian News earlier reported, the National Television Company of Ukraine and the Euronews television channel reached agreement on October 21 on creation of a Ukrainian-language version of Euronews and launch its operation in 2011. On October 11, the Cabinet of Ministers allocated UAH 85.6 million for creation of a Ukrainian-language version of the Euronews television channel. The Cabinet of Ministers allocated an additional UAH 6.7 million for this purpose on October 25.

The Cabinet of Ministers approved the starting price of sale of 92.79% of shares in Ukrtelecom, Ukraine's largest telecommunications company, at UAH 10.5 billion, State Property Fund Chairman Oleksandr Riabchenko has announced to the press.