Банкеръ Weekly

Briefs

STATE FINANCIAL SUPERVISORS FINED AND PRAISED JOHN MUNNERY

State Financial Supervisors (SFS) announced the results of their audit at Radio Telecommunications Company Ltd (RTC Ltd.) related to a violation of the Law on Public Orders. The SFS experts have written up a statement of administrative violations against John Munnery, General Manager of the company, which is much more famous for its trade name - Mobicom.
The fine Mr. Munnery will have to pay is BGL5,000 after issuing a penalty enactment. On November 2, 1999 he has signed a contract with Moira Print Ltd for delivery of promotional watches, amounting to BGL52,860, without observing the procedure for assigning a public order. With the direct contract has been violated Art.3, Para 1, item 2 of the above mentioned Law, related to two other articles - four and seven.
The fine is the minimal one, as this is the first violation of Mobicom's manager of that kind. It can be appealed within seven days after its publication in the State Gazette. This, however, will hardly happen, as Tzvetan Tzvetkov, SFS Manager, expressed his special gratitude to the company and its manager for the full support during the audit.
MobilTel, the other active telecom company, also rendered full support - to the State Telecommunications Commission (STC) experts. As the Banker weekly has already informed, the fine for the company will exceed BGL0.5MN - it has established 21 relay lines without being authorised by STC experts.

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