ARTICLE 10 PROPERTY OF THE LEAGUE

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10.1. The League can own in its property the assets and other property necessary to carry out its statutory activities, acquired on the grounds not prohibited by the law.

10.2. The property of the League consists of a fixed capital and circulating assets, as well as of other material values.

10.3. The sources of property of the League are:

10.3.1. The funds and property transferred by the founders of the League, funds and property received from main activity, with the exception of funds in the form of collected royalties due the subjects of copyright and (or) related rights;

10.3.2. The funds or property received either free of charge or as a non-repayable financial assistance, including funds in the form of contributions to the statutory activities of the League as a target residue of the royalties for the use of copyright and (or) related rights, that is collected in Ukraine or received from abroad in the course of the implementation of economic rights on collective basis, and regular disposable income of members of the League, as well as the deductions from the royalties for the use of copyright and (or) related rights objects on the development of the League from domestic and foreign subjects objects of copyright and (or) related rights, which are not the members of the League.

10.3.3. Proceeds from the activity of enterprises founded by the League;

10.3.4. Property acquired from other persons;

10.3.5. Voluntary contributions (cash, securities, other things, property rights or other rights that have monetary value), gifts, income from Ukrainian, international and foreign organizations, unions, companies, enterprises, institutions, including through international programs, as well as from the separate individuals in the form of cash and property; grants, subsidies received by the League from the state or local budgets, state funds or within the charity, including humanitarian assistance and (or) technical assistance provided under the terms of international treaties ratified by the Supreme Council of Ukraine;

10.3.6. Other sources not prohibited by the laws of Ukraine, including passive incomes of the League.

10.4. The League has the right to buy, take a pledge, to receive from the assignment by creating a self-supporting institutions and organizations with a legal entity status, or to establish enterprises in the order established by the law, to receive as a gift, to lease or otherwise obtain property or rights from the eneterprises, institutions, organizations and citizens.

10.5. The League can have at its possession or in operational management buildings, premises, residential and nonresidential facilities, equipment, stock, securities and other property. The League can have landsites at its possession or in its use.

10.6. The cost of property is shown in the balance of the League.

10.7. The League takes ownership of the funds and other property transferred to it by the members of the League, by others persons or by the state in due order, acquired at the expense of its own funds or by other means not prohibited by the laws of Ukraine, except for remuneration (royalties) that belongs to the subjects of copyright under the law.

10.8. The property and the funds resulting from the core activities of the League, with the exception of the funds collected as author’s royalty, which is due to copyright and (or) related rights subjects, are in full possession of the League and are used solely to perform its statutory tasks, decisions of the governing bodies of the League, on charitable purposes and can not be divided and paid to members of the League.

10.9. The League conducts accounting and statistical records of its activities in the established order, it is responsible for their accuracy, it reports in accordance with the laws of Ukraine. The League and its employees pay taxes and other obligatory payments to the budget in accordance with law in force.

10.10. The League, at its discretion possesses, uses and disposes of its property in accordance with current legislation of Ukraine.

10.11. Cash and other receipts of the League are used to meet the statutory types of activities of the League in accordance with decisions of the Board of Authors of the League and the Director, adopted within their competence.