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Bulgarian Competition Law is designed to protect and foster competition and free enterprise in economic activity. Over the years the law was repeatedly changed by the legislature to meet the requirements of economic life.
Bulgarian Competition law provides protection against agreements, decisions and concerted practices, abuse of monopolistic and dominant and all other acts and actions that can lead to the prevention, restriction or distortion of competition in the country and / or affect trade between Member – States the European Union as well as unfair competition. The Act regulates the control of concentrations between undertakings. This law regulates relations concerning the application of Art. 81 and 82 of the Treaty establishing the European Community including cooperation with the European Commission and national competition authorities of the Member – States of the European Union under Regulation (EC) 1/2003 of 16 December 2002 on the implementation of the rules on competition laid down in Art. 81 and 82 of the Treaty establishing the European Community, hereinafter referred to as “Regulation (EC) 1/2003 ‘, and Regulation (EC) 139/2004 of 20 January 2004 on the control of concentrations between undertakings (Merger Regulation EC), hereinafter “Regulation (EC) 139/2004.”
Bulgarian Competition Act shall apply to:
– undertakings and associations of undertakings which operate in the Republic of Bulgaria or abroad, unless expressly or tacitly prevent, restrict, distort or may prevent, restrict or distort competition in the country;
– state bodies, including executive authorities and local government, if they expressly or tacitly prevent, restrict, distort or may prevent, restrict or distort competition in the country;
– undertakings to which the state or municipality is assigned to perform the services of public interest, insofar as the application of the law is not law or in fact the tasks assigned to them, and competition in the country is not affected significantly;
– individuals who commit or facilitate the commission of an offense under this Act.
The Act created the Commission for Protection of Competition. The Commission is the national body of the Republic of Bulgaria, responsible for the implementation of Community law on competition.
The Act prohibits any agreements between undertakings, decisions by associations of undertakings and concerted practices of two or more undertakings which have as their object or effect the prevention, restriction or distortion of competition in the market, such as:
– directly or indirectly fixing prices or other trading conditions;
– share markets or sources of supply;
– limit or control production, marketing, technical development or investment.
– applying dissimilar conditions to identical contracts to certain partners, thereby placing them at a competitive disadvantage;
– making the conclusion of contracts subject to acceptance by the other parties of supplementary obligations or additional contracts which by their nature or according to commercial usage have no connection with the subject of the main contract or its performance.
It is forbidden to conduct businesses with monopoly or dominant position as well two or more undertakings of dominant position, which may prevent, restrict or distort competition and affect the interests of consumers, such as:
– directly or indirectly imposing prices for the purchase or sale or other unfair trading conditions;
– limiting production, trade and technical development to the prejudice of consumers;
– applying dissimilar conditions to identical contracts to certain partners, thereby placing them at a competitive disadvantage;
– making the conclusion of contracts subject to acceptance by the other parties of supplementary obligations or entering into additional contracts which by their nature or according to commercial usage have no connection with the subject of the main contract or its performance;
– unreasonable failure to supply goods or provide service to real or potential client to hinder the attainment of its business.
The Act prohibited any act or omission in the course of business which is contrary to good commercial practice and harms or may harm the interests of competitors.
Shall be prohibited to damage the reputation and credibility of the competitors and their products or services by stating or disseminating untrue information, as well as by presenting the facts in a distorted form. Shall be prohibited to mislead in relation to essential characteristics of goods or services on or use of the goods or the provision of services by alleging false statements or misrepresenting facts.
It bans misleading and unlawful comparative advertising.
Advertiser and advertising agency prepared the ad, are liable for misleading and unlawful comparative advertising.
The offering of goods or services, appearance, packaging, marking, name or other characteristics which mislead or might mislead as to the origin, producer, seller, manner and place of manufacture, source and manner of acquisition or use quantity, quality, nature, consumer characteristics and other essential characteristics of the product or service is prohibited.
LIABILITY AND PENALTIES
For breaking the law are provided penalties, some of which are:
– Commission imposed a penalty of up to 10 per cent of total turnover for the previous financial year of an undertaking or association of undertakings
– Individuals contributed to the performance of violations under the Act if the act constitutes a crime shall be punished with fine from 500 to 50 000 BGN.
If you believe that your rights under this Act have been violated please contact us. We are ready to help you.
Franchising is one of the most popular business models in present days. There is almost no business area in which it is not affected by franchising.
In franchising one person – a franchisor, grants to another – a franchisee the right to use its owned industrial property – trademark, logo, design, patented invention or utility model, industrial experience (know-how) and so etc., and shall render organizational, technical, marketing, etc. Support for their effective operation in return of remuneration and commitment by the franchisee to follow prescribed by him commercial policy and adhere to strictly imposed unilaterally by the market the franchisor’s own standards.
Franchising is a combination of industrial property rights or intellectual property rights relating to trademarks, trade names, logotypes, models, designs, copyright, know-how or patents granted for remuneration to be used for the sale of goods and / or provision of services.
Franchise agreement may include the granting of a license on industrial property, sale, lease, contract manufacturing, etc. and as such it directly to the legal requirements applicable to each of these contracts.
Upon signing and execution of a franchise agreement applicable to common ground rules and the rules of the Competition Legislation.
There are several forms of franchising by the type of activity.
Production franchising – franchisee is entitled to produce the goods supplied using his know-how, trade marks, industrial experience, trademarks, patents, etc.
Outlets franchising – franchisee can only distribute the goods produced by the franchisor, franchising services – franchisee is entitled to perform the services of the franchisor.
Parties to the franchising most often are companies, consortium, cooperatives, etc., without any restriction on the type of subjects or their legal form in which may have formed.
With the diversity in practice the names of those parties now has become the terminology: franchisor – the party that owns intellectual property and manufacturing experience, technical and organizational knowledge has created a range of customer and franchisee – the party that receives the opportunity to use this, due consideration and shall comply with industrial and economic requirements.
Each of the agreements included in the content of the franchise agreement should be concluded within the prescribed legal form.
The selection of international jurisdiction in any future disputes in the contract, as far as their preference for judicial review, the court recommended the selection rules (ie again in the absence of choice – a court whose jurisdiction is the territory in which agreed use of the extended franchise).
Inclusion of an arbitration clause is recommended.
 Bulgarian ID card (Photo credit: Wikipedia) The purpose of this post is to examine conditions and procedures for issuance of Bulgarian identity documents for foreign nationals and stateless persons from the Ministry of Interior, and the prerequisites for the replacement of these documents. Regulation is contained in several Bulgarian laws namely:
Bulgarian ID act.
Rules for issuance of Bulgarian ID documents act.
Tariff of fees.
Foreigners who are granted Bulgarian identity documents as laid down in this proceeding are:
– foreigners residing in Bulgaria for a period exceeding 3 months
– stateless persons
Ministry of the Interior issued the following documents for foreigners:
– ID card to continuous residing foreigner in Bulgaria – issued to foreigners admitted to reside within one year
– ID card to permanent resident foreigners in Bulgaria
– certificate for traveling abroad of a stateless person
– temporary ID card – foreigners whose national documents were seized in the cases provided by law
ID Card of a foreigner continuous residing in Bulgaria is valid for 1 year. The validity of the card permanent resident foreigner also depends on the validity of national passport, which he is entered in Bulgaria. Bulgarian identity document is issued to any alien who has been authorized stay beyond three months, which is over 14 years. Identity documents for travel abroad shall be issued to persons under 14 years of age.
Bulgarian identity documents to foreigners are issued and replaced upon submission of application form. Application forms can be found by the regional offices of the Ministry of Interior for a fee – 1 BGN=0,50 Euro.
There are other documents required for submission with application form.
For issuance card of long-term residing and permanent resident foreigner in the Republic of Bulgaria collected state fee is 10 BGN ~ 5 euro
For a certificate for traveling abroad to a stateless person and the provisional certificate for leaving the Republic of Bulgaria collected state fee is 30 BGN ~ 15 euro
For issuing a temporary card for foreign nationals collected fee is 10 lev ~ 5 euro
There are no fees for foreigners who are exempt on the basis of reciprocity and international agreements to which Bulgaria is a party.
Exempt from payment of fees are and foreigners who can not present their old Bulgarian identity document because it is forcibly taken away, damaged or destroyed beyond the holder’s reasons, such as natural disasters, accidents, accidents, robbery and rendering emergency medical care, those reasons shall be established by documents issued by competent authorities.
The issue of identity documents for minors and under partial guardianship are to be made in person, and for minors and placed prodigals – through their legal representatives.
In application, the applicant shall personally signed in the presence of an official.
In cases where a person may not appear in person to sign the application, it shall make his signature at a notary in advance and in person on the face of the application. Then the application is filed by a person authorized by the applicant.
Once the official accepts regular application filed in the registry and it completed and delivered to the applicant accordingly adopted application receipt.
Application data is checked in the the information databases associated with Bulgarian identity documents in accordance identity documents are issued within 30 days of receipt of the application are received by the applicant.
Issued identity document shall be received personally by the applicant after completing the appropriate section for receiving the application and return to the previous identification of this kind, if he was issued one.
Bulgarian identity document of a foreigner shall be valid in the Republic of Bulgaria together with his national travel document.
Nobody has the right to give and accept a pledge, use and dispose Bulgarian identity document of another person.
If you need more detailed information please contact us. Our Bulgarian lawyers will be happy to assist you.
National courts cannot force social networks to monitor for copyright infringement by users because it would not strike a “fair balance” between the rights of rights holders and the rights of those platforms and its users, the European Court of Justice (ECJ) has ruled.
The ECJ assessed EU laws on copyright and the enforcement of intellectual property rights as well as laws on the liability of service providers, data protection and privacy in communications. It also weighed the fundamental rights to the protection of intellectual property against the rights to privacy, free speech, the freedom to conduct business, and protection of personal data. It said that, on balance, it would be unfair if courts could force social networks to monitor for illegal file-sharing.
“[EU laws] read together and construed in the light of the requirements stemming from the protection of the applicable fundamental rights, must be interpreted as precluding a national court from issuing an injunction against a hosting service provider which requires it to install a system for filtering … with a view to preventing those works from being made available to the public in breach of copyright,” the ECJ ruling said.
The ruling was prompted by a national court case in Belgium involving music royalties collecting society Sabam and social network platform Netlog. Sabam has claimed that Netlog users were sharing copyrighted music and videos on the site without permission. Sabam said Netlog should have to pay a fee or “give an undertaking to cease and desist from making available to the public musical and audio-visual works from SABAM’s repertoire without the necessary authorisation,” the ECJ’s ruling said.
In 2009 Sabam asked the Court of First Instance in Brussels to issue an injunction to force Netlog to stop the infringement happening and said it should have to pay €1,000 as a penalty each day that Netlog delayed its compliance with the order. Netlog argued that such an injunction would have been “tantamount to imposing on Netlog a general obligation to monitor” user behaviour and said that that was contrary to Belgian national law.
The social network operators also argued that the injunction could force it to introduce a filtering system to identify and prevent illegal file-sharing. Such a system “would have to satisfy the provisions of EU law relating to the protection of personal data and the confidentiality of communications,” Netlog had argued.
Brussels asked the ECJ whether EU law and the fundamental rights to privacy and freedom of expression allowed national courts to issue injunctions to impose such a filtering system.
In a separate case also involving Sabam last year the ECJ also ruled that courts could not issue injunctions to force internet service providers to monitor for copyright infringement.
The EU’s Copyright Directive says copyright owners can obtain a court order against intermediaries whose services are used for piracy. But the E-Commerce Directive says that those intermediaries are generally not responsible for the activity of customers and that member states must not put them under any obligation to police illegal activity on its service.
Under EU data protection laws personal data must be “processed fairly and lawfully” and be collected for “specified, explicit and legitimate purposes and not further processed in a way incompatible with those purposes”. The laws also state that information can only be processed if a person has given their unambiguous consent and if that consent is explicitly given.
Separate EU laws set out in the EU’s Privacy and Electronic Communications Directive also state that storing and accessing information on users’ computers is generally only lawful “on condition that the subscriber or user concerned has given his or her consent, having been provided with clear and comprehensive information … about the purposes of the processing”.
Under the EU Charter of Fundamental Rights individuals generally have a right to privacy and protection of personal data. The Charter also confers rights on free speech, the freedom to conduct business and states that intellectual property (IP) “shall be protected”. The ECJ said, however, that there was “nothing whatsoever” in the way the Charter was worded or in ECJ case law to suggest that the fundamental right to the protection of IP is “inviolable and must for that reason be absolutely protected”.
It said that filtering system would have unfairly affected Netlog’s ability to conduct its business because it would have involved the platform “monitoring all or most of the information” it stored.
“That monitoring has no limitation in time, is directed at all future infringements and is intended to protect not only existing works, but also works that have not yet been created at the time when the system is introduced,” it said. “Accordingly, such an injunction would result in a serious infringement of the freedom of the hosting service provider to conduct its business since it would require that hosting service provider to install a complicated, costly, permanent computer system at its own expense, which would also be contrary to the conditions laid down in [the EU’s Enforcement of Intellectual Property Rights Directive], which requires that measures to ensure the respect of intellectual-property rights should not be unnecessarily complicated or costly,” the ECJ ruling said.
“In those circumstances, it must be held that the injunction to install the contested filtering system is to be regarded as not respecting the requirement that a fair balance be struck between, on the one hand, the protection of the intellectual-property right enjoyed by copyright holders, and, on the other hand, that of the freedom to conduct business enjoyed by operators such as hosting service providers,” it said.
The ECJ said that the rights of users of social networks would also affected by any monitoring for copyright infringement and that therefore those rights also had to be taken into account. It said that because the filtering system “would involve the identification, systematic analysis and processing of information connected with the profiles created on the social network by its users” the monitoring of information could infringe on those individuals’ rights to the protection of their personal data.
The filtering system may not be able to distinguish between lawful and unlawful content it could result in lawful content being blocked. Because of this the system could also impinge on individuals’ rights to freely impart or receive information, the ECJ said.
“Consequently, it must be held that, in adopting the injunction requiring the hosting service provider to install the contested filtering system, the national court concerned would not be respecting the requirement that a fair balance be struck between the right to intellectual property, on the one hand, and the freedom to conduct business, the right to protection of personal data and the freedom to receive or impart information, on the other,” the ECJ said.
Credits :
out-law.com
The three measures of Djankov will make a bank’s interests clearer not lower.
Linking interest rates only with SOFIBOR and YURIBOR will do interest more transparent, but is unlikely to reduce them.
The idea was launched yesterday by Deputy Prime Minister Simeon Djankov and provoked numerous comments financiers and experts.
Deputy Governor of BNB Rumen Simeonov is skeptical that the announced measures could lead to a reduction in lending rates, but acknowledges that it is more transparent.
“However, it dawned on me what is the reason banks in the country to set interest rates on loans compared to the one YURIBOR or SOFIBOR – when the Bulgarian banks are participating in this market, the risk allowance for them is much higher than for Western European banks,” he told in front at newspaper “Trud”.
Sounds a little strange intention of “separation of bank charges between the user and the bank” as Deputy Prime Minister Simeon Djankov stated. Perhaps he means putting a limit on the amount of fees implies Simeonov.
These plans sound nice, the question is how to put into practice and whether it will be too expensive and the banks and the public, said economist Georgi Ganev, according to whom “risk identification often can not fit into any formulas”.
According financier Lubomir Hristov lending rules should be changed so that the market becomes competitive: “After the 2010 unilateral changes in interest rates on loans have already raised in rank norm – (many of Bulgarian lawyers doesn’t share these views – related to increasing lawsuits against the banks). This is a definition of “reference rate” under the Consumer Credit Act in force since May 12, 2010 “reference rate” is that portion of the interest rate that can change during the loan repayment. It is the law index, which may be a market, but can be determined and “methodology” of the bank. “He told in front newspaper” Trud “.
The analysis of “active users” shows that 15 of the 18 banks using their own “methodology” recalls Christopher, adding: “The exact amount of the bank’s reference rate is decided each month by the Governing Council ie randomly. ” Which can be called exactly unilaterally raise or outside the contract.
Bankers say that these are political statements that sound good but in practice it is not clear how to obtain, summarize the “Standard”. Most requests are associated with many legislative changes, changes in regulations and ordinances. Once government have a majority in parliament, why not change the laws as they want, ask the banks. They say that for the most of the measures sought no legal impediment to apply, the problem is that the economic situation and the market are not responsive to such action.
“An encouragement of investment, consumption, employment, can do much more work than any restrictions on the banking sector and specific changes in banking laws,” commented for “Trud” Petar Andronov, CEO and Chairman of Assembly of EIBank.
Used Materials from dir.bg.
Bulgarian civil litigation generally passes in three instances – Court of First Instance, the Appellate Court and Court of Cassation.
The regional court is a competent jurisdiction in all civil cases except those within the jurisdiction of the district court as a first instance.
Let’s see now for which cases is ? competent jurisdiction district Courts as a first instance:
1. actions to establish or challenge the origin, termination of adoption, interdiction or to repeal it;
2. claims for property and other real rights over property price was above 50,000 BGN
3. claims in civil and commercial matters price was above 25,000 Levs, except claims for alimony, labor disputes and claims for acts of defalcation
4. claims to establish the admissibility or nullity of entry and registered non-existence of a circumstance where this is provided by law
5. claims that other laws are subject to be reviewed by the district court
Let’s know see which exactly regional or district court are competent by local jurisdiction:
1. According to the general jurisdiction action shall be claimed at the court in the area where is the permanent address or registered office of the defendant.
2. Claims against minors or placed under judicial disability persons shall be brought to court in the permanent address of their legal representative.
How to proceed with claims against persons with an unknown address?
3. Action against a person with unknown address shall be brought at the court competence over the permanent address of his agent or representative, if none exists – the permanent address of the plaintiff. The same apply to a defendant who does not live within the Republic of Bulgaria on his permanent living address.
4. If the plaintiff is not domiciled in the Republic of Bulgaria, the action be filed with the proper court in Sofia.
5. Claims against state institutions and entities are brought at the court in whose area where are their management or office. In disputes arising from direct relations with their subsidiaries or branches, claims may be brought and their location.
6. Claims against the state brought before the court in whose area the dispute relationship, except in the cases. of art. 109 and 110. When it has occurred abroad, the action shall be brought before the proper court in Sofia.
7. Claims for property rights to real property, for partition of an immovable property, borders and protect disturbed possession of the property shall be brought in the place where the property is located. At the location of the property and claims are brought to conclude a definitive agreement for the establishment and transfer of real rights over immovable property, as well as deterioration, destruction and declaring the nullity of contracts for property rights to real property.
8. Claims for heritage, the destruction or reduction of the legacies of partition and inheritance for the destruction of voluntary partition to bring the place where the inheritance was opened.
9. Monetary claim under the contract may be brought and by the current address of the defendant.
10. Maintenance claim may be brought and by permanent address of the claimant.
11. A consumer claim may be brought by its current or permanent address.
12. The employee can sue his employer and the place where he habitually carries out his work.
13. Action for damages from tort may be brought in place of the offense.
14. Claim against defendants in different judicial districts or property which is located in different judicial districts can be sued by the choice made by the plaintiff in the court of one of these areas.
A contractual jurisdiction
Set by law jurisdiction may not be amended by agreement of the parties.
With the written agreement of the parties property dispute may designate another court, not the one to try the case according to the rules of the local jurisdiction. This provision shall not apply to jurisdiction under Art. 109. of Bulgarian Civil Code Procedure.
Agreement choice of court in actions brought by consumers and labor disputes have effect only if concluded after the dispute arises.
The issuance of a building permit is a type of administrative procedure, whose outcome is necessary implementation of complex factual staff – actions of administrative bodies, the applicant and other persons and entities. It aims to enable the entity to implement construction in land falling within the agricultural area to be consistent with the purpose of her.
Agricultural area under Art. 8, item 2 LSP is a territory which is intended for arable land (fields, orchards and vegetable gardens, vineyards, meadows, etc.) and non-arable lands (pastures, slopes, gullies, ravines, etc.).
Use of agricultural land for production of crop production and cattle grazing in a way that damage the sol fertility and health. Law on ownership and use of agricultural land, and regulations for its implementation significantly narrowed the concept of land, having determined that this is land intended for agricultural production and:
– not located within the urban areas (settlements and settlement formations) determined by a detailed development plan or with surrounding polygon;
– not included in the forest (within the meaning of Art. 2, para. 2 of the Forest Act).
– are not built with buildings: industrial or other business enterprises, recreational or health facilities, religious communities or other public or represent yards or warehouses for such buildings;
– not occupied by open mines and quarries, of energy, irrigation, transportation or other facilities for common use or are adjacent to parts such facilities.
The Law states that farmyards of labor co farms (farms) and state farms (state farms) or parts thereof, outside the construction boundaries of settlements are agricultural lands, unless they are built and are suitable for agricultural production. Agricultural lands are occupied by equipment or installations that are scrapped or built with inferior buildings, if they are suitable for agricultural production.
For development on agricultural land without requiring a change of use of agricultural lands therein shall be permitted building-related use, as follows:
– properties in an area of ??10 acres – one-of outbuildings with an area of 35 square meters for storage of agricultural products and equipment, including living room, with no permanent status;
– properties in an area over 10 acres;
There are no construction movable objects for commercial and other service activities, such as kiosks, booths, tables. Among the works do not fall advertising, information and monumental decorative elements. For these objects is granted permission to put in an order established by ordinance of the municipal council.
Not subject to administrative regulation such construction work as: interior and exterior painting of buildings and structures, replacement of roofing materials, interior renovations, which do not affect the construction of the building will not be made activities such as removal, removal of existing walls and create holes in them when they affect the building structure does not change use of premises and loads them, and other repairs of buildings, equipment and parts thereof.
Application for approval of investment projects and the issuance of construction permit may submit the construction contracting. This is the property owner, the person that has been given the right to build on another’s property, and the person has the right to build in another person’s property under a special law. The sponsor may authorize another person to submit an application.
Application for authorization of construction on agricultural land shall be submitted to the chief architect of the municipality on the territory of which the landed property.
The building permit is issued within 7 days of receipt of the application when there is an approved project. Where the contracting authority has expressly requested, the building permit is issued simultaneously with the approval of the investment project.
The refusal of approval of investment projects and the denial of a building permit shall be rendered within the time limits within which it is issued and the construction permit.
The approved investment project is not subject to independent scrutiny.
Its legality is judged in exercising administrative control over the issued building permit. It, and refusals to approve the investment project or to grant planning permission, subject to administrative appeal within 14 days of notification to the Head of the Regional Directorate for National Construction Supervision (RDNCS), the territory of which the property (Art. 149 para. 3 Territory Structure Act).
Head of RDNCS rule within 15 days of filing the complaint.
Permitted construction allows for a contract for construction supervision, a protocol for determining the construction line and level and opening the construction site, and for site clearing required for construction.
After issuing a building permit to allow minor deviations from the approved investment project for construction execution.
Eligible are some significant deviations from the approved investment project explicitly referred to in Art.154 of Bulgarian Territory Structure Act and under strict conditions.
Obtaining a banking license is regulated by the Bulgarian legislation in several laws:
* Banking Act
* Bulgarian National Bank Act
* Regulation on licenses and permits issued by the Bulgarian National Bank
Bank as an entity characterized by the range of activities that can perform so-called absolute or bank transactions (public attraction of deposits and use the amounts collected to make loans and investments) that can be underwritten only by firms engaged banking business. Along with these transactions in banking and means: acceptance of valuables on deposit; perform operations cashless payment and clearing of check accounts of others, the issuance and administration of electronic payment instruments; provision of bank deposit boxes.
In addition to transactions forming exclusive banking, banks carry out other activities that do not need to obtain special permission and may be performed by non-banks.
There is a general prohibition to perform banking business as the sole authorization of grants to certain entities that have received it, make it the entering transactions.
For the implementation of banking business is an absolute prerequisite to liability company has been issued by the Central Bank (BNB) license. The need for this stems from the licensing situation of banks in society and the visibility of transactions concluded by them. By contacting a wide range of entities increases and their effect on bank cash commodity turnover. This requires the exercise of legal regulation of permissive nature of the state by introducing lizenzionen mode for carrying out banking business.
Licenses for banking activities are issued by the BNB Governor, proposed by the Deputy Governor “Banking Supervision”.
Local Entities Requirements:
License of a local bank to perform banking activities may apply only joint stock company which meets the conditions for carrying out banking activities in accordance with regulatory requirements at the time of receipt for a license:
* – not been entered into the commercial register (that is in the process of incorporation);
* – the amount of paid-in capital in the formation of a bank can not be less than 10 million BGN;
* – amounts paid for subscriptions to the minimum required capital can be cash only.
Requirements for Foreign Entities:
* – Wish to operate in the country through a branch;
* – Fulfill the conditions of art. 12 of the Banking Act;
* – At the time of issuance of the license have own funds of not less than the minimum required equity under Bulgarian law.
Requirements for members of the Board or the Board of Directors
– Have acquired a higher education degree is not lower than “master”;
– Have sufficient relevant education qualifications and professional experience in banking, as attested by a certificate;
– Persons representing the bank, except that you must have appropriate qualifications and experience necessary to have worked at least five years in a management position in a bank or comparable to a bank company or institution;
– Have not been convicted of an intentional criminal offense;
– Were not members of management or supervisory body or general partners in a company when it was terminated due to insolvency, if unsatisfied creditors;
– Have not been in the last five years preceding the date of the decision declaring the bank insolvent, members of its management or supervisory body;
– Are not deprived of the right to hold office;
– No spouses or relatives up to third degree including a straight or collateral line among themselves or another member of management or supervisory body of the bank.
Looking to know more? Feel free to send us your inquiry. We will be happy to help you to obtain your banking licensing.
Council Regulation 1896/2006 of 12 December 2006 establishing a European order for payment allows creditors to get your uncontested civil and commercial claims under a single procedure, acting on the basis of standard forms.
Shall apply in all Member States of the European Union except Denmark.
The procedure does not require attendance in court. Plaintiff need only present their claims, then the procedure should its own power. It requires no further formalities or intervention by the plaintiff. The regulation provides seven standard form.
Application for a European order for payment in Bulgaria shall be submitted to the district court’s permanent address of the debtor, at its registered office or place of performance. (Art. 625, para. 1 of Bulgarian Civil Code Procedure)
In term of art. 16, para. 2 knowledge of the order for the debtor may ask the appellate court for its review (canceled in accordance with Art. 423 of the Civil Code Procedure).
Service Communications in the European order for payment shall be made by an officer of the court by mail or by courier registered mail c c acknowledgment. Where the place of service there is no court office service may be made by the municipality or city hall (Art. 42, para. 1 of Bulgarian Civil Code Procedure)
It is important to know that Republic of Bulgaria considers that the European order for payment should accompany c Bulgarian translation.
Procedure Forms:
Form A – Application for European order for payment
Form B – Application to the claimant to complete and / or correction of an application for a European order for payment
Form C – Proposal to amend the applicant’s request for a European order for payment
Form D – Decision to reject an application for a European order for payment
Form E – European Order for Payment
Form E – Opposition to a European order for payment
Form G – Declaration of enforceability
Here is the link to the Regulation (EC) No 1896/2006 of the European Parliament and of the Council of 12 December 2006 creating a European order for payment procedure
Council Regulation 861/2007 of 11 July 2007 establishing a European procedure for small claims interest seeks to improve and simplify procedures in civil and commercial matters where the value of the claim does not exceed 2,000 euros.
The Regulation applies between all Member States of the European Union except Denmark.
Procedure for small claims interest act on standard forms. It is written, unless the court deems necessary hearing.
The Regulation determines the time limit for the parties and the court to expedite the resolution of the dispute.
In Bulgaria District courts have jurisdiction to give judgment in the European procedure for small claims and interests under the rules of the local jurisdiction as defined in Code of Civil Procedure.
District court decisions may be appealed to district court. The complaint filed by the court which issued the decision within two weeks of service of his country. (Articles 258 and 259 CCP).
On further appeal before the Supreme Court subject to appellate decisions, c which the court ruled on the substantive or procedural issue that is:
1. determined, contrary to the practice of the Supreme Court;
2. addressed controversial by the courts;
3. important for the correct application of law and the development of law.
Not subject to cassation appeal judgments with actionable interest to 1000 lev (511,29 €) further appeal shall be filed through the court which issued the appeal decision within one month after service of the country. (Articles 280 and 283 of CCP).
Our legal office successfully deal with the mentioned above procedure so feel free to get in touch.
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