Amendments to the Commercial Register Act
The Parliament adopted on second reading amendments to the Commercial Register Act. Pursuant to these amendments:
• there will be free and non-chargeable access only to the commercial register. The companies’ files themselves will be accessible only with e-signature or a digital certificate, provided by the Registry Agency;
• applications for joint-stock companies and limited partnerships will be submitted only with e-signature;
• the term for processing of the applications is prolonged from one to three days as of submission of the application;
• when some of the required documents are not attached to the application or the state fee is not paid, the officials will provide instructions for corrections of the omissions. If the instructions are not preserved in the three days term as per above, a refusal will be issued;
• after the expiry of the term for re-registration (31 December 2011), sole traders and branches of foreign companies which are not re-registered will be deemed closed. The activity of all companies, which are not re-registered until 31 December 2011 will be terminated. Such companies may be re-registered and liquidated upon application by an interested party, submitted to the respective court, with which the company is registered, until 30 June 2014;
• all companies, which are not re-registered and for which no liquidation or insolvency procedure is initiated, will be deleted after the expiry of five years as of termination of their activity;
• the term for annual announcement of the financial statements of the traders will be as follows: for sole traders, having obligation to prepare financial statements – until 31 May; for limited liability companies and unlimited partnerships – until 30 June; for state enterprises, joint-stock companies, limited partnerships and limited partnerships with shares – until 31 July.