Source Pravda.Ru

Ukrainian President Signs Land Code

President Leonid Kuchma of Ukraine signed a new Land Code Tuesday, Igor Storozhuk, press secretary of the Ukrainian president, told the press. The Land Code was passed by the parliament October 25 and will come into force January 1, 2002. The Code stipulates private ownership of land and sets a five-year moratorium on purchase and sale of lands. In compliance with the Code, it is allowed to sale not more than 100 hectares of agricultural lands per individual in the period from 2005 to 2010. A 20-year moratorium on land sale to foreign citizens is also envisaged.