Law of Ukraine

"On Regulation of Issues Related to Ensuring Nuclear Safety"

Date of entry into force:
July 27, 2004

The Law determines the legal and organizational principles of financial support for actions aimed at decommissioning and retiring nuclear devices.

According to Article 4 of the Law, nuclear devices are decommissioned and retired according to nuclear device retirement projects.

A nuclear device retirement project is developed by its operator, based on the nuclear device retirement concept, and must adhere to the effective nuclear and radiation safety norms, rules and standards.

Financial support for development of nuclear device retirement projects is provided from the financial reserve funds.

Article 6 of the Law establishes that a special account is opened in the State Treasury of Ukraine when the first nuclear device is commissioned.

Article 7 of the Law establishes that the operator transfers funds to the special account, in the form of deductions calculated as a percentage of the operator's net income received from sale of products (goods, services, etc.)

Improper use of funds from the special account is forbidden. Any claims to the funds of the financial reserve are forbidden (Article 10 of the Law).

According to Article 13 of the Law, in case the financial reserve funds are used improperly, the improperly used amount is included into the gross revenue of the operator. The operator must refund the amount that had been used improperly. The head of the operator organization is liable for improper use of the financial reserve funds according to the law.
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