President signed law on banning gambling business in Ukraine

President Viktor Yushchenko signed a law that bans gambling business in Ukraine . The law should be in effect until a special legislation is adopted providing for a right to organize and carry out gaming in specially assigned gambling zones.

Just couple months ago b an s on operation of gambling business in Ukraine , initiated by the Regions Party MP Hryhoriy Smitiukh and BYT MP Valeriy Pysarenko , was supported by 340 out of the 442 MPs eligible to vot e Lawmakers voted overwhelmingly to approve the bill.

Last June 11, the Verkhovna Rada overrode the President's veto on the Law "On Banning Gambling Business in Ukraine", by which the gambling business was banned on the territory of the country's inhabited localities.

Financial sanctions shall be applied to the economic entities, organizing and carrying out gaming, in the form of fines to the amount of eight thousand minimum wages with confiscation of the gambling equipment, and profits (incomes) from carrying out such gaming should be transferred to the State Budget.

The document introduces restrictions regarding carrying out the gambling business, proceeding from the constitutional principles of priorities of human rights and freedoms, protection of the morals and the population's health, ban of using the property to the detriment of a man and the society.

Source: http://nrcu.gov.ua