Банкеръ Weekly

Briefs

POST-PRIVATISATION CONTROL TO BE COLLECTING ITS RECEIVABLES ITSELF

The Post Privatisation Control Agency and the municipal councils or bodies authorized by them will be able to forcibly collect their receivables under divestment contracts. That will be governed by the Civil Procedure Code. The agency received these rights after the MPs passed on first reading (June 20) supplements to the Privatisation and Post Privatisation Control Act. According to the new provisions, the decisions of the agency's Executive Council and of the municipal councils regarding due amounts under a divestment agreement shall provide off-court reason for issuing a writ of execution.
Under the so far effective stipulations, the unpaid amount of the rescheduled price under privatisation contracts and the calculated defaults and compensations for non-fulfilment of obligations under divestment agreements are collected after a court ruling. The proposed legislative amendment will eliminate the long claim process and the feeling of unpunishness in some of the buyers, read the motives of the Council of Ministers which has moved the proposal.
Access to tax and insurance information shall be ensured to the Post Privatisation Control Agency and the municipal councils or bodies authorized by them. It will be provide by a body of the National Revenue Agency on the grounds of a motivated written request. It will concern only bank accounts and data about the trade activity, value and kind of individual assets and liabilities or property, which are a trade secret.

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