Readjustments in the Trade Register Act will be proposed in parliament these days, although last year it was repeatedly repaired. Obviously, its imperfections are still more than the changes. Magistrates throughout the country with members of the Supreme Judicial Council and some MPs have held several meetings, which formulated eleven main problems arising from the transitional and final provisions of the law.
MP from the ruling GERB party and member of the legal committee in the parliament Emil Radev did not hide that some of the text’s regulations, passed last year were now causing problems. And he hoped the Justice Department to submit changes for approval to the Council of Ministers to enable early next week to continue the committees in Parliament. He said representatives of our people were not quite agree with some of the texts in the summer of last year.
According to the current amendments it is envisaged that joint stock companies should submit all applications for registration, for cancellation of circumstances and all declarations to the Commercial Register only electronically.
Am improved protection of personal data available though the Register is also now in focus.
The bulk of the amendments concern the procedure for the preparation of lists of traders who missed the deadline for their re-registration – the end of 2011 and rather short deadlines for compiling these lists will be extended.
New texts should simplify the procedure for re-registration of traders, namely, applications for re-registration can be submitted directly to the Registry Agency, plus – traders who decided not to register before 1 January 2012 can be deleted automatically.
Anyway, the problems in the Commercial Register accumulate over the years and they are the product of bad legislation and inactivity of the employees in the Registry Agency. Two months ago, the Banker wrote about a threat for the electronic system of the Registry Agency. There are dozens of signs of serious disciplinary violations, produced by cracks in the system when companies change owners on paper without their knowledge. Joint-stock companies acquire partners who they have never had. In most cases the question is about difficult legal cases related to disputes between shareholders or partners, where support for either side of the staff at the Registry appears to have been of crucial importance.
