Donetsk, Apr 30 – DAN. DPR People's Council has endorsed a law on transferring the property owned by Ukrainian banks into DPR ownership, DAN correspondent reports from the legislative meeting.

The law defines the procedure and consequences of the transfer of property owned by Ukrainian banks and located in the DPR after November 14, 2014, when Ukraine stopped providing banking services in the DPR.

The Ukrainian banks, as defined by the law, are the banks that are licenced by the Ukrainian National Bank and the were operating in the Donetsk Region of Ukraine until May 14, 2014, including banks whose licences were canceled as of May 14, 2014.

The exception is made for banks the owners of significant participation in the capital of which, in accordance with the legislation as of May 14, 2014, were banks or state corporations established in compliance with Russian laws, such as PAO AKB PROMINVESTBANK and PAO Sberbank.

The new law allows to use the property in the interests of the DPR people.

The document was voted for unanimously by 89 deputies present at the meeting.

It must be signed by the DPR Head before coming into force. *ot