New rules for the control of special commercial managers
The National Assembly is set to vote at second reading on important amendments to the Law on Administrative Regulation of Economic Activities Related to Oil and Petroleum Products. The proposals, submitted by Stefan Svilenov and a group of MPs from "Progressive Bulgaria", aim to strengthen the oversight of the work of special commercial managers.
Monthly reporting to the Minister of Economy and judicial control over key asset disposal transactions are being introduced.
Key highlights of the legislative changes:
- Monthly report: Managers will be required to submit an activity report for each company within one week after the end of each month.
- Judicial control: Procedures are being introduced to challenge transactions involving shares, stakes, and property that affect the rights of the owners.
- Prevention of abuses: The goal is to limit violations and prevent financial and reputational damage to the state.
In addition to these changes, the MPs will also consider at second reading amendments to the Investment Promotion Act, submitted by Petar Vitanov and colleagues.