The State Agency "insolvency Administration" Statute

Original Language Title: Valsts aģentūras "Maksātnespējas administrācija" nolikums

Read the untranslated law here:

Cabinet of Ministers Regulations No. 328 in Riga, 10 May 2005 (pr. No 28) State Agency "insolvency administration" of the Regulations Issued under the public law agency 8. the third paragraph of article i. General questions 1. State Agency "insolvency administration" (hereinafter referred to as the Agency) is the Minister of Justice in the State supervision authority.
2. the objective of the Agency is to implement State policy in matters of insolvency, to protect the interests of employees in their employers ' insolvency cases and law in the country and the protection of the public interest in matters of insolvency.
II. Agency functions, tasks and rights 3. The Agency shall make the law "on the protection of employees in case of employer's insolvency" and the law "on bankruptcy of enterprises and companies ' specific features, as well as: 3.1 bear insolvency administration costs;
3.2. representing national interests in insolvency proceedings.
4. in order to implement certain functions, the Agency shall undertake the following tasks: 4.1 develop administrator training programs;
4.2. organise training of persons who wish to obtain a certificate of the administrator;
4.3. the law organizes the quest within the administrator's certificate;
4.4. the regulations shall be issued in accordance with the procedure laid down and cancelled the certificate of the administrator or the extended deadline.
4.5. randomly selects and recommends to the Court a certified administrator-designate each individual insolvency proceedings;
4.6. examine the legality of the activities of the administrator in insolvency proceedings;
4.7. complaints about the decisions and actions of administrators;
4.8. adopt and review the administrator of insolvent employers ' applications for recovery of employees;
4.9. shall decide on employee satisfaction from the employee claims guarantee fund;
4.10. adopt and review the administrator application for insolvency administration costs;
4.11. Decides on the allocation of funds in the insolvency administration costs;
4.12. the happy employee claims and cover the administration costs of the insolvency proceedings to the extent implemented in a vendor's claims against insolvent businesses and companies;
4.13. proposals shall compile and provide to the insolvency process improvement related legislation;
4.14. organizes the methodic and informational materials development and the issue of insolvency matters;
4.15. establish and maintain insolvency practitioner database, and provides public access to the data of the administrator;
4.16. the Agency provides personal data and other information;
4.17. cooperate with foreign and international institutions, as well as ensure the exchange of information within the scope of the Agency;
4.18. provides the following public services: 4.18.1. administrator tutorial;
4.18.2. administrator training to certification;
4.18.3. administrator first certification;
4.18.4. administrator repeated the certification;
4.18.5. administrator extension of validity of the certificate;
4.18.6. duplicate certificate issued by the administrator;
4.18.7. organisation of seminars;
4.18.8. legal advice in matters of insolvency;
4.19. performs other tasks in accordance with the laws and the management contract.
5. the Agency shall have the following rights: 5.1 external laws and cases, to request and receive, free of charge from the State and municipal institutions, as well as from individuals for the functions and duties of the Agency required information;
5.2. to request and receive from the administrator of the Agency's functions and tasks and the required documents;
5.3. request the administrator to produce original documents and get them transcripts of the decision of the administrator and conduct due diligence;
5.4. to request and receive administrator activity reports;
5.5. to request and receive explanations for administrator administrator decisions and actions in the insolvency proceedings;
5.6. to invite an administrator to come to the Agency to provide an explanation for the insolvency process;
5.7. to impose a legal obligation of the administrator to provide a legitimate and effective insolvency proceedings;
5.8. impose legal obligations of an administrator to fix the Agency any breaches of the laws;
5.9. to make an administrator, a warning, reprimand or cancel the administrator certificate, if found in violation of the laws;
5.10. to submit reports of law enforcement institutions and material about detected in the course of insolvency proceedings facts that can be the basis for criminal prosecution;
5.11. to submit to the Court an application for revocation of the administrator;
5.12. the charge for public services provided by the Agency.
III. Agency governance 6. The work of the agency headed by a Director. The Agency's Director of law by public agency and the equipment of the public administration Act direct authorities managerial functions. The Director of the Agency can be alternates.
7. the Agency shall be entitled to form a unit. Its departments operate in accordance with the rules approved by the Agency's Director.
IV. The Director of the College Board of Directors 8. (hereinafter the Board) is a collegiate body, the Agency set up to ensure the functioning of the Agency in the rule of law and collegiate decision-making on matters of the Agency. The composition of the College shall be determined by the Director of the Agency.
9. The Board shall convene the meeting and the agenda will be the Director of the Agency. The Director of the Agency during the meetings of the Board shall perform the functions of the President of the College.
10. College: 10.1 review the issues related to decisions and actions of administrators in insolvency proceedings;
10.2. with regard to questions concerning the cancellation of the certificate of the administrator or its prolongation;
10.3. questions about the appearance of insolvent employers ' and employees ' claims are met;
10.4. with regard to questions of insolvency administration costs;
10.5. other issues in accordance with the proposals of the Director of the Agency.
11. The Board shall operate in accordance with rules issued by the Director of the Agency.
V.  The Agency's financial resources and assets 12. the Agency's financial resources shall consist of: 12.1. State budget grant from the general revenue;
12.2. business risk State duty;
12.3. revenue from public services rendered;
12.4. donations, gifts and foreign financial assistance.
13. the Agency's accounts at the end of the year the balance of funds resulting from all types of Agency revenue (excluding the General State grant from the general revenue) if it does not exceed a year actually get the resources, the Agency remains and is used for the following year.
14. The law on the Agency's budget and financial management in the order with the permission of the Minister of Finance has the right to take loans and commitments. Prior authorization of the Minister of finance agency provisions of the transaction in question into line with the Justice Ministry.
15. the legal relations with the private individuals the Agency shall be responsible for its current state in possession of the property.
Vi. Activities of the Agency in ensuring the rule of law and the reporting agency Director to succeed 16 decisions and actual action may be challenged in the Ministry of Justice. The Justice Ministry's decision can be appealed in court.
17. the Agency shall prepare and submit to the Ministry of Justice and a current annual report on the activities of the Agency and the use of financial resources.
VII. Closing questions 18. Be declared unenforceable in the Cabinet of Ministers of 17 September 2002, Regulation No 425 "State Agency" insolvency administration "Statute" (Latvian journal, 2002, nr. 135; 2003, nr. 165).
19. the rules shall enter into force on the 1 June 2005.
Prime Minister, Minister of Justice Minister er ivry in place Defense Minister e. Repše Editorial Note: regulations shall enter into force by 1 June 2005.