The State Agency "insolvency Administration" Statute

Original Language Title: Valsts aģentūras "Maksātnespējas administrācija" nolikums

Subscribe to a Global-Regulation Premium Membership Today!

Key Benefits:

Subscribe Now

Read the untranslated law here:

Cabinet of Ministers Regulations No. 366 Riga, 26 May 2008 (pr. No 33 25) State Agency insolvency administration regulations Issued under the public law agency 8. the third paragraph of article i. General questions 1. State Agency "insolvency administration" (hereinafter insolvency administration) is the Minister of Justice under the supervision of the national regulatory authority. 2. The insolvency administration actions to implement the national policy for the legal protection process and insolvency matters, to protect the interests of employees in their employer's insolvency and the law in the country and the protection of the public interest the legal protection process and insolvency matters. II. the insolvency administration functions, tasks and rights 3. Insolvency Administration implemented its business activities in the insolvency law, the law "on the protection of employees in case of employer's insolvency", the forced execution of funds to influence the law, other laws and regulations, as well as the regulatory functions under the contract. 4. in order to implement certain features, insolvency administration take the insolvency law, the law "on the protection of employees in case of employer's insolvency", the forced execution of funds to influence the law, other regulations and management tasks defined in the Treaty, as well as: 4.1 develop insolvency practitioner (hereinafter referred to as the administrator) training programs;
4.2. organise training of persons who wish to obtain the administrator qualifications, as well as a receipt for the full administrator training programs the hearing;
4.3. arrange examination for applicants who wish to obtain an administrator qualification;
4.4. issue and renew insolvency practitioner certificate (hereinafter certificate), as well as terminate and withdraw it;
4.5. organise the administrator qualifications and certification of administrators;
4.6. collect and make proposals to the field of insolvency law related to development;
4.7. organizes the methodic and informational materials development and issues in the field of insolvency;
4.8 ensure insolvency administration of personal data and other information;
4.9. shall cooperate with foreign and international institutions, as well as provide a mutual exchange of information, the scope of insolvency administration;
4.10. the laws provide certain public services. 5. in order to ensure the legal protection process and supervision of the insolvency proceedings, the insolvency administration has insolvency law, the law "on the protection of employees in case of employer's insolvency", the forced execution of funds to influence law and other specific legislation, as well as the right to charge a fee for the administration of insolvency provide public services. III. Administration of insolvency administration 6. Insolvency administration is headed by a Director. Insolvency administration Director of the law by public agency and the equipment of the public administration Act direct authorities managerial functions. Insolvency administration Deputy Director can be. 7. Insolvency administration is entitled to form a unit. Insolvency administration departments operating under bankruptcy rules approved by the Director of administration. IV. The insolvency administration financial resources and assets 8. Insolvency administration financial resources: 8.1. State budget grant from the general revenue;
8.2. business risk State duty;
8.3. income from fees for services rendered;
8.4. foreign financial assistance. 9. Insolvency Law on the administration of the budget and financial management in the order with the permission of the Minister of Finance has the right to take loans and commitments. Before the Minister of finance approval of insolvency administration conditions of the transaction in question into line with the Minister of Justice. 10. the Agency with its possession passed to the Act public law agency in article 16. V. insolvency administration actions ensuring the rule of law and reporting 11. Insolvency Administration Director decisions issued and actual action may be challenged in the Ministry of Justice, except for the administration of insolvency proceedings issued decisions on the conduct of the insolvency administrator and the legal protection process or decisions on legal obligation. Such decisions may be appealed to the Court in the insolvency law and law of civil procedure. 12. Insolvency administration shall prepare and submit to the Ministry of Justice and a current annual report on the operation and administration of the insolvency of the financial funds. VI. final question 13. Be declared unenforceable in the Cabinet of 10 May 2005, the provisions of no. 328 "national agency" insolvency administration "Statute" (Latvian journal, 2005, 84, 193. No; 2006, 206. no). Prime Minister i. Godmanis Justice Minister g. Smith