Following the adopted work program of the Members of Parliament, the plenary session will begin with the continuation of the first reading of amendments to the Law on Gender Equality. The Ministry of the Council of Ministers is the proposer of these amendments. Discussions are expected to focus on the need to improve the gender balance among the directors of companies registered on the stock exchange, as well as the related measures that meet European requirements.
It is essential to note that the deadline for transposing the relevant directive expired on December 28, 2024, as the proposer emphasizes. This highlights the urgency of the changes being considered.
The motivations accompanying the bill clearly state that achieving a balanced representation of women and men in director positions and in the governing bodies of public companies will have a tangible impact on the economy as a whole. This will be realized by establishing minimum requirements that will act as incentive measures. Emphasis is also placed on setting a specific quantitative goal for the representation of the underrepresented gender. The ambition is for no less than 33% of all director positions to be filled by representatives of this gender. The presented tables specify the values of the required number of directors to be appointed, and these values do not exceed 49%. A deadline has been set to achieve this goal – June 30, 2026.
Additional requirements for the publicity of information are also envisaged. This will be achieved through corporate governance declarations, which will be publicly accessible.
The agenda of the meeting also includes the second reading of amendments to the Cyber Security Act. The purpose of these changes is to ensure the legal integration of Bulgarian cyber security with the European framework. This includes the introduction of improved European requirements related to risk assessment, among other aspects. The specific goal is to fill the identified gaps and eliminate inconsistencies in the existing Bulgarian legislation. The bill provides for the introduction of rules for risk assessment capacity, the reporting of cyber incidents, as well as for testing and raising awareness of the fact that cyber incidents and the lack of an adequate response can threaten the stability of both public and private entities.
The MPs will also consider in the first reading bills to amend and supplement the Bar Act. The proposers of these proposals are the Council of Ministers, as well as the parliamentary groups "We Continue the Change-Democratic Bulgaria" and "Revival".
In addition, as point four, the first reading of changes to the Law on Markets in Financial Instruments is provided for.
The last point on the agenda provides for the ratification of a Framework Loan Agreement between the Council of Europe Development Bank and the Republic of Bulgaria, which includes a Mechanism for co-financing programs co-financed by the European Social Fund.