You're reading: Government to adopt regulations on financing housing construction

The government has charged ministries and other central organs of the executive with elaborating and submitting by the end of 2009 five draft laws and two draft resolutions on financing the construction of housing.

The Cabinet of Ministers signed the relevant resolution, No. 1043, on September 3.

According to the document, in September the central organs of the executive have to elaborate and submit for government consideration draft laws on canceling the ban on the sale and use the land for house-building by organs of the executive and local government if the financing of work is performed with non-government funds; on signing standard contracts regulating relations in the sphere of investment and housing construction financing by organs of the executive; on reorganizing a company against whom an action on bankruptcy is brought by housing constructors; and on overseeing and preparing documents on the use of land by enterprises, establishments and organizations.

Moreover, in October the government plans to consider a draft resolution on procedures, rules and forms of a standard contract and certain conditions of obligatory insurance licensing of constructing and assembly work by builders.

The Cabinet of Ministers plans to considers in December a draft resolution on a register of builders and housing construction projects carried out using non-government funds, and a draft resolution on procedures, rules and forms of a standard contract and certain conditions of obligatory insurance of mortgaged properties against accidental destruction or damage.