site.btaParliament Adopts Monthly Reporting Requirement for Special Commercial Administrator

Parliament adopted at second reading amendments to the Act on Administrative Regulation of Economic Activities Associated with Oil and Petroleum Products on Thursday. The changes require the special commercial administrator to submit a monthly report on the activities of each company under his management to the Economy, Investment and Industry Minister within one week of the end of the reporting month. MP Stefan Svilenov and a group of MPs from Progressive Bulgaria tabled the bill. 

The Economy Minister, a prosecutor, the Council of Ministers, any shareholder or partner, and the sole owner of the capital of an entity operating critical infrastructure or engaged in the storage, transport, wholesale or retail trade of oil and petroleum products may bring an action before the competent district court seeking to establish the nullity of a transaction carried out by the special commercial administrator in violation of the law. Such actions must be filed within 14 days of becoming aware of the transaction, but no later than three months after it was carried out.

Parliament also decided that any shareholder or partner may join the proceedings in accordance with the Civil Procedure Code and may continue to support the claim even if the party that filed it withdraws it.

During the debate, MP Tsoncho Ganev of Vazrazhdane said some of Prime Minister Rumen Radev's voters had expected the government to begin negotiations with Russia on lifting sanctions and purchasing the refinery, but no such steps had been taken. He argued that negotiations should begin, given the refinery owner's EUR 3 billion claim.

Progressive Bulgaria Deputy Floor Leader Slavi Vassilev replied that the special commercial administrator mechanism protects the refinery from external political pressure related to a potential sale. He said Lukoil's structure was unique in the region and that the arrangement served the interests of end consumers.

Vassilev pointed to the government's decision to replace Rumen Spetsov as evidence that it was acting on the issue. He added that the cabinet and the parliamentary majority would protect the interests of Bulgarian citizens through expert-based decisions.