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Ordinance- Bulgarian National bank
Bulgarian National bank amends enacted by it under the Credit institutions act Ordinance for supplement and amendment of financial institutions. The amendments and supplements are aimed mainly to consolidate the preliminary control of the paid in capital and origin of the funds. It creates a new definition for the equity. The equity includes the amount of the registered and paid in capital, the reserves of the entity generated as per Art. 246 of the Commercial code, non- distributed profit of past years and the current profit for a respective period under review, as the sum shall be decrease by the losses of past years and the current loss for a respective period under review. In cases of buy back shares the equity of the entity respectively decrease with their amount.

The shareholders shall enclose the declaration for the origin of the funds used for the contribution, respectively for requiring the shares of the capital, as the documents which prove this origin- for example annual tax declaration, certificate for labor incomes, copy of a notarial deed or a purchase agreement for assets etc. Shall be required also up to date with the contribution documents for the disposable funds of the person- for example reference from the bank about disposable funds in bank accounts, payment document for the received funds of purchase of active etc.; up to date with the date of the contribution declaration about the type and the amount of the received loans of the person; payment documents certifying payment of the owned shares; up to date with the date of the contribution documents certifying the disposable funds of the person in the capital of applicant; other documents at the discretion of the applicant or Bulgarian National bank which shows that the contributions in the capital are made with own funds and the origin of the funds is clear and legal.

The requirements to any physical and legal person who indirectly owns qualified shares in the capital of the applicant and for the real owner of the applicant are also increased.

Decree- Council of Ministers

The Council of Ministers enacts a decree for constitution of a council, named “Energy board”. The new structure shall be a permanent advisory authority for resolving important questions in the “Energy” sector. The board shall make analysis, shall suggest measures, shall provide an opinions including for amendments in the legal framework for strategic documents in the “Energy” sector.

The energy board consists a President, Vice President and members. The President of the Energy board is Deputy Prime Minister of economic policy, Minister of regional development and Minister of investment design. His Vice President is the Minister of Economy and Energy. Members of the Energy board are Deputy Minister of Economy and Energy and Deputy Minister of labour and social policy, elected by the correspondent Ministers; the chairman of State energy and water regulatory commission; one representative of: Bulgarian photovoltaic association, National union of independent energy producers “Ecoenergy”, Bulgarian windenergy association, “Bulgarian Energy Holding”- EAD, “National electricity company” EAD, “Hey and Eu- 3C Maritza East 1”- EOOD, “ContourGlobal Maritza East 3”- AD, Bulgarian district heating association, Association of traders with electricity in Bulgaria, Bulgarian petroleum and gas association, Bulgarian association “Natural gas”, “Electricity system operator”- EAD, “EVN Bulgaria”- EAD, “Energo- Pro”- Varna EOOD, “CEZ Bulgaria” EAD, Bulgarian national association of the customers, Bulgarian federation of industrial energy consumers- BFIEC, Association of banks in Bulgaria, Bulgarian industrial capital association, Bulgarian chamber of commerce and industry, Bulgarian industrial association, Confederation of the Employers and industrialists in Bulgaria, Bulagrian mine- geology chamber, Confederation of independent trade unions in Bulgaria, Confederation of labour “Support”. The Energy board may involve in its meetings representatives of other state authorities and institutions, of international organizations, nongovernment organizations and of companies in the “Energy” sector, as experts in “Energy” sector.

With decree is adopt and a Rule of procedure of the Energy board, according which its meetings are regular and extraordinary, as regulars shall be held at least once a month and extraordinary- on the initiative of the President or of not less than 1/3 of its members. The secretariate of the Energy board shall support an information page on the internet on the portal of the advisory councils, on which shall be published all document and materials for the board activity, including the agenda of the meetings, the minutes of the meetings, the annual reports, decisions, opinions and suggestions.