According to the Law on the National Bank of Ukraine (NBU), the chairman of NBU appointed by the Verkhovna Rada individually bears responsibility before the President and parliament for National Bank activity.
So, at the request of the UNIAN, the head of group of advisers to the head of National Bank Valery LITVITSKY commented on the expiration on December 16 of this year powers of the head of NBU Vladimir STELMAKH.
"According to article 19 of the law about National Bank, the chairman of NBU appointed by the Verkhovna Rada, will individually bear responsibility before the President and the Verkhovna Rada for National Bank activity, - V. LITVITSKY quoted article of the law and added: - It means that direct delegation of power the present head of NBU can occur to new chairman of National Bank exclusively appointed by the Verkhovna Rada, instead of the deputy or the acting as. Thus BP has to relieve at the same time of the post the present chairman of NBU".
Summing up, V. LITVITSKY once again noted that "despite the expiration on December 16 the five-year term of the powers, Vladimir Semenovich doesn't intend to submit the resignation at own will. Thus, according to the Law on National Bank, it will continue to carry out the duties of the chairman of NBU in full".
As reported the UNIAN, powers of the present chairman of National Bank come to an end on December 16, 2009. However, according to the legislation of Ukraine, the head of NBU can be appointed or dismissed from a position by the Verkhovna Rada only on representation of the President of Ukraine.
The parliament more than once tried to dismiss V. STELMAKH from a post.
On January 26 of this year. The Verkhovna Rada cancelled the resolution of 2004 about V. STELMAKH'S appointment as the chairman of National Bank, and on June 12 of this year the parliament sent to the President of Ukraine deputy inquiry concerning need of introduction into parliament of idea of V. STELMAKH'S release from a position of the head of National Bank. The President of Ukraine Victor YUSHCHENKO reacted to such actions of deputies the statement that resignation of the chairman of NBU isn't within the competence of parliament.
V. STELMAKH was appointed the chairman of National Bank of Ukraine the Verkhovna Rada on December 16, 2004 on representation of the President of Ukraine.