Anri Okhanashvili, the Chairman of the Legal Issues Committee, presented the draft law on Deoligarchization in III reading.

The draft law defines the legal basis for the functioning of such a system, which should ensure the prevention of threats related to the excessive influence of persons with significant economic and political weight in public life (oligarchs), and also establishes the content and procedure of enforcement measures directed against these persons.

The project regulates the issues related to the recognition of a person as an oligarch, the register of oligarchs, and the legal consequences of recognition as an oligarch.

According to the speaker, this is a formal proposal to put the bill to the vote.

"We have engaged in consultations with our partners, and collectively, we have reached a consensus that this matter need not be legislated, but rather, an action plan will be developed by the government in the near future. This action plan will also receive approval following further discussions. Hence, it is deemed more appropriate to address this matter through this approach. Our original approach did not involve regulating this issue in this manner. From the outset, we adhered to the principle that the European Union's relevant bodies would endorse the regulation of this matter in Ukraine through legislation, following the established procedure within the European Union—a method approved by the EU. Nevertheless, due to a proposal stemming from consultations with high-ranking officials of the Venice Commission, which suggests that this issue should not be codified into law but instead regulated through a corresponding action plan, we recommend that we abstain from supporting this matter during the voting process”, - Anri Okhanashvili noted.

Accordingly, during the voting, the Parliament rejected the draft law.