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Crimean parliament allows mandatory property buyout

July 09, 2014, 18:30 UTC+3 SIMFEROPOL
The list of properties for repurchase will be established by the Crimean Cabinet of Ministers
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A view of Crimea's Yalta

A view of Crimea's Yalta

© ITAR-TASS/Alexei Pavlishak

SIMFEROPOL, July 09. /ITAR-TASS/. The parliament of the Republic of Crimea has passed a law in the second and final reading on Wednesday, allowing the local authorities to forcefully buy out property from citizens and businesses for republican needs.

The document allows the Crimean government to forcefully buy out properties on the peninsula “that are of strategic importance for the Republic of Crimea” in case of “the emergence of circumstances posing a threat to the life and health of the population, economic security of the state and the normal functioning of essential infrastructural facilities and the threat of a man-made or environmental disaster.”

Crimean Parliament Speaker Vladimir Konstantin said after an extraordinary parliament session that the list of properties that could be repurchased by the Crimean authorities had not yet been defined but this primarily related to the need to ensure water and electricity supplies for Crimean residents.

The list of properties for repurchase will be established by the Crimean Cabinet of Ministers. Property owners will be compensated for the cost of their properties from the regional budget on the basis of a market valuation.

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