Read the untranslated law here: http://parliament.bg/bg/laws/ID/15479/
Name of law Law amending and supplementing the law on Bank bankruptcy Bill name a bill amending and supplementing the law on banking insolvency date adopted 29/07/2015 number/year Official Gazette 61/2015 Decree No 155
On the grounds of art. 98, paragraph 4 of the Constitution of the Republic of Bulgaria
To be published in the Official Gazette the law amending the law on banking insolvency HLÌÌI, adopted by the National Assembly on 29 July 2015.
Issued in Sofia on 31 July 2015.
The President of the Republic: Rosen Plevneliev
Stamped with the State seal.
Minister of Justice: Hristo Ivanov
amending the law on banking insolvency (official SG. 92 of 2002; amended 67/2003, 36/2004, no. 31 and 105 by 2005, issue 30, 34, 59 and 80 in 2006 and 53/59 of 2007, 67/2008 No. 105 from 2011, no. 98 of 2014 and PCs. 22 , 41 and 50 by 2015)
§ 1. In art. 6 Add "unless this law is not otherwise provided".
§ 2. In art. 12, al. 7, first sentence, the words "as well as the name and address" shall be replaced by "and" names.
§ 3. In art. 16, al. 1, third sentence, after the word "Quaestors" insert "or" receivers.
§ 4. In art. 20, para. 3 is hereby amended as follows:
1. In paragraph 1 the words "para. 5, paragraph 1 "are replaced by" para. 7, paragraph 1 ".
2. In paragraph 2, the words "para. 4 "shall be replaced by" para. 6. "
§ 5. In art. 31 Al is created. 3:
"(3) with the authorization of the Fund Administrator may authorize persons to represent him in proceedings in cases in which the Bank or trustee is a party, or to bring such cases."
§ 6. In art. 39, para. 1 make the following amendments and additions:
1. In paragraph 18, the words "para. 5 ' shall be replaced by "para. 7. "
2. a new item 19:
"19. Authorise the liquidator for the empowerment of individuals in accordance with art. 31, para. 3; ".
3. Current item 19 shall be renumbered item 20.
§ 7. In art. 64 the following modifications are made:
1. In paragraph 8. 1 the word "ground" is replaced by "names of creditors, and when they match – and other identifying data, ground", and the words "the amount of the claims" shall be replaced by "alphabetical order".
2. paragraph 2 is replaced by the following:
"(2) After the establishment of the list administrator announced it in the commercial register and published at least twice in one or more central dailies message list is declared."
§ 8. In art. 66 following amendments and supplements shall be made:
1. In paragraph 8. 1 the words "expiry of the time limit under art. 64, para. 2 "are replaced by" the announcement of the list in the commercial register.
2. Paragraphs 2, 3, 4, 5, 6 and 7 shall be read with the following adaptations:
"(2) after the expiry of the period referred to in para. 1 the administrator shall draw up a list of creditors whose claims are disputed, and announce it in the commercial register. Any creditor of the list has the right within 14 days of the announcement of the list of contested claims to receive a copy of the submitted against his making an objection and of the evidence to him. The copies are received at the registered office and the sub-divisions of the Bank into bankruptcy in the country.
(3) within 7 days of the expiry of the time limit for the receipt of copies under para. 2 each creditor with challenged making is entitled to submit to the administrator a written statement in opposition and to apply the evidence.
(4) the trustee shall consider the objections and opinions on them and give a final decision on the exclusion or inclusion of the claim in the list of accepted claims from him in 40 days of expiry of the period referred to in para. 3.
(5) the trustee declared in the commercial register message, that the decision is drawn up and may be obtained at the registered office and the sub-divisions of the Bank into bankruptcy in the country within 7 days from the date of notification of the communication.
(6) within 7 days of the expiry of the period referred to in paragraph 1. 5 any person who made the objection pursuant to para. 1, may challenge the decision to the Court of bankruptcy of the liquidator under para. 4 only for making that object. Opposition to the Court shall be made by the official receiver.
(7) within 14 days after the expiry of the period referred to in para. 6 the administrator is required to compile:
1. list of accepted claims in which no objections have been raised;
2. a list of unacceptable claims, for which an objection to the Court in accordance with the requirements of paragraphs 1 and 2. 6;
3. list of accepted claims, which are disputed in court by opposition in compliance with the requirements of para. 6. "
3. Al are created. 8 and 9:
"(8) in the lists referred to in paragraph 1. claims 2 and 7 are arranged in order of satisfaction according to art. 94, para. 1, and in the framework of the order – in alphabetical order.
(9) The lists referred to in para. 7, item 2 and 3 apply the objections, the evidence submitted to them and the evidence relevant to the fulfilment of the requirements under paragraph 1. 6. "
§ 9. In art. 67, para. 1 the words "para. 5 ' shall be replaced by "para. 7 "and the words" para. 7 ' shall be replaced by "para. 9. "
§ 10. In art. 68 the words "para. 4 "shall be replaced by" para. 6. "
§ 11. In art. 71 Al is created. 3:
"(3) the completed list is announced in the trade register.
§ 12. In art. the words ' 96 al. 5 ' shall be replaced by "para. 7. "
§ 13. In art. 97 words "places for 14 days at a certain target for conspicuous and public space in the building at the registered office of the Bank" shall be replaced by "announcing" in the commercial register.
§ 14. In art. 98, the words "within the time limit under art. 97 ' are replaced by ' within 14 days from the date of the announcement in the commercial register.
§ 15. In art. 104, para. 2 the words "places for 14 days at a certain target for conspicuous and public space in the building at the registered office of the Bank" shall be replaced by "announcing" in the commercial register.
Transitional and final provisions
§ 16. Provisions of this law shall also apply to insolvency proceedings opened prior to the entry into force of this law.
§ 17. In the law on independent financial audit (official SG. 101 since 2001; amended by 91/2002, no. 96 of 2004 and 77/105 by 2005, issue 30, 33, 62 and 105 2006 67/2008 95/2009 No. 54 of 2010 No. 99 by 2011, issue 38 60 and 102 from 2012 and St. 15 of 2013) make the following changes and additions:
1. In art. 35, para. 3 the words "four voices and secret vote" shall be replaced by ' three votes and votes "and creates a second sentence:" the way of the vote and reasoning of each vote shall be recorded in the minutes of the meeting of the Commission and shall be published on the Internet site of the Commission. "
2. In art. 40A:) in the Al. 1 the words "registered audit firms" and "registered establishments" shall be replaced by ' specialised audit businesses ";
b) paragraph 2 is amended as follows:
"(2) the system of quality control is built and operates on rules, procedures and plans, jointly developed by the Commission for public supervision of registered Auditors and by the Governing Council of the Institute of Chartered Accountants. Rules, procedures and plans shall be adopted by the Governing Board of the Institute of Chartered Accountants and is approved by the Commission for public oversight of Auditors registered. ";
in) a new para. 3:
(3) development of new regulations, procedures and quality control plans or their modification is carried out on the initiative of the Institute of chartered accountants or Commission for public oversight of Auditors registered. ";
d) past al. 3 it al. (4);
(e)) the current al. 4 it al. 5 and the word "employment" shall be replaced by "business";
Al is current). 5 it al. 6 and shall be amended as follows:
(6) the Commission for public supervision of registered Auditors on the basis of the results of the checks carried out by Commission inspectors, as well as the controllers of the Institute of certified public accountants, is entitled to give instructions that are required for the performance of registered Auditors and the specialized audit firms. ";
(g)) the previous para. 6, 7 and 8 shall become paragraph 7, 8 and 9;
h) past al. 9 becomes the new al. 10.
3. In art. 40 in, al. 1, point 7, the words "para. 5 ' shall be replaced by "para. 6. "
4. In art. 41, para. 1:
(a)) in the text before paragraph 1, after the word "auditor" there shall be added "and/or a specialized audit company", and the words "from 2000 to 20, 000 ' shall be replaced by ' up to 10 percent of total revenues to the registered auditor or auditing company specialized for the previous financial year, including amounts under art. 40 m, al. 1, item 9 ";
(b)) point 3 shall be repealed.
5. an art. 41A:
"Art. 41. (1) The registered auditor and/or specialized audit company having a fine or penalty payment from 500 to 5000 EUR, when checking or investigation made by the controllers of the Institute of certified public accountants or by Commission inspectors, is found to have violated the requirements of art. 22, para. 2, art. 27, al. 4, art. 28 and art. 33.
(2) where the offences under para. 1 have been carried out by a registered auditor who carries out independent financial audit on behalf of the specialized audit company, the penalty imposed on the registered auditor – a natural person, and of the specialised auditing company on behalf of which the audit is carried out.
(3) When the offence under para. 1 was committed reactivation, fine or pecuniary penalty is double the amount.
(4) the acts establishing offences and the penal provisions shall be issued in accordance with art. 41, para. 6, 7 and 8. "
§ 18. The law shall enter into force on the day of its publication in the Official Gazette.
The law was passed by the National Assembly-43 on 29 July 2015 and is stamped with the official seal of the National Assembly.
President of the National Assembly Tsetska Tsacheva:
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