Ukraine’s National Council has fined 173 companies for not complying with a legal requirement to provide information about their ownership structure.
The companies include broadcasters and providers of software services, with the fines totalling UAH523,595.34 (€16,942.9).
Under the terms of the law “On Television and Radio Broadcasting”, part 4 article 12, companies conducting business activities in TV and radio broadcasting are required to submit details of their ownership in the previous year to the National Council by March 31 each year.
Failure to do so can result in a fine of 5% of the total amount of licence fees paid by the companies.
In this instance, the fines imposed by the regulator ranged from UAH0.14 to UAH69,534.27.
