site.btaParliament Sets Up Register of Persons Disqualified from Company Management Jobs

Parliament on Wednesday voted conclusively amendments to the Commercial Register and Register of Non-Profit Legal Entities Act to establish an integrated register of persons disqualified from company management jobs, maintained by the Registry Agency.

The adopted provisions regulate the maintenance, storage, and access to the register, in which individuals who have been disqualified to serve as managers or members of a board of directors, supervisory board, or management board are listed.

The register is not public. The Registry Agency provides free access to the register to courts, the Prosecutor’s Office, the State Agency for National Security, the Financial Supervision Commission, the Bulgarian National Bank, the authorities maintaining registers under the Anti-Money Laundering Act, and other bodies specified by law, under the amendments.

It is stipulated that every individual has the right to obtain information about whether they are listed in the register, as well as access to the documents contained in their file. This right is also granted to their heirs.

MP Zlatan Zlatanov of Vazrazhdane proposed that lawyers should also have free access to the register of persons deprived of management rights, but his proposal was rejected.