The initiator of these bills is the National Investment Agency.
The first draft law "On Venture Financing" aims to create a legal infrastructure for participants in venture activities and to establish stimulating conditions for its development. The agency notes that existing legislation limits opportunities, such as the lack of an adequate organizational and legal form, restrictions on loan issuance, the inability to create alternative investment funds other than joint-stock and mutual funds, as well as a shortage of legal instruments for venture investors. The new bill introduces key terms, including "venture investments," "venture angel," "business angel," "startup," "option agreement," and "option pool."
Additionally, it proposes the implementation of instruments such as option agreements, convertible loans, and agreements on future equity in a company.
The second bill proposes amendments to existing regulatory legal acts, including the Civil Code, legislation on investment funds, competition law, and the law on innovative activities.
