The representation of the European Union in Georgia states that the draft law on deoligarchization should be sent to the Venice Commission before being adopted by the Parliament.

“The EU representative office issued the statement on November 21. The draft law on "deoligarchization" passed the second reading. We reiterate our strong opinion that before this law is adopted, the conclusion of the Venice Commission should be requested and implemented," the statement of the EU representative said.

The draft law "On deoligarchization," initiated by the members of the Georgian Dream in the parliament, was developed on the example of the Ukrainian law with similar content.

The opposition does not agree with the transposition of the Ukrainian law. It declares that this draft law cannot be adopted in this form and must correspond to the Georgian reality. In addition, non-governmental organizations and representatives of the European Union believe that the draft law should be sent to the Venice Commission.

However, the Georgian Dream seems to be refusing to send the draft law to the Venice Commission and states that Georgia can consider the conclusions of the Venice Commission, which it will issue on the Ukrainian law on deoligarchization since it is planning to adopt the Ukrainian model.

In relation to this, Georgia’s biggest opposition party, National Movement, has prepared an alternative draft law on deoligarchization. According to the draft law, an oligarch is a person who meets at least three conditions laid out in the text. Those are as follows:

a) directly or indirectly carries out political activities;

b) members of his family or related persons, persons employed in legal entities owned by him hold state-political, political or state positions;

c) directly or indirectly (including through an organization under its influence) exerts a significant impact on the means of media services;

d) represents the final beneficial owner of the subject of entrepreneurial activity, which at the time of the entry into force of this law is the subject of natural monopolies or occupies a dominant (monopoly) position in the market in accordance with the legislation on competition;

e) The proven assets of a person or the owner of a business entity exceed 0.35% of the country's gross domestic product, or he, his family members, and related persons own more than 7% of Georgia's land resources.

f) sanctioned by a member state of the North Atlantic Treaty Organization and the European Union, the Commonwealth of these states, or international organizations.