Law Information System CIELA

LAW FOR THE SMALL- AND MEDIUM-SIZE ENTERPRISES

Prom. SG. 84/24 Sep 1999, amend. SG. 80/3 Oct 2000, amend. SG. 92/10 Nov 2000, suppl. SG. 42/27 Apr 2001, amend. SG. 28/19 Mar 2002, amend. SG. 64/23 Jul 2004, amend. SG. 34/25 Apr 2006, amend. SG. 59/21 Jul 2006

Chapter one.

GENERAL PROVISIONS

Art. 1. This law settles the public relations connected with the implementation of the state policy on the encouragement of the establishment and development of small- and medium-size enterprises.

Art. 2. (amend. SG 64/04) This law aims to create favourable and stabile institutional and economic medium for creating and development of competitive small- and medium-size enterprises.

Art. 3. (amend. - SG 59/06) (1) The category of small- and medium-size enterprises includes enterprises, having:

1. average enlisted personnel less that 250 people, and

2. annual turnover, not exceeding 97 500 000 BGN and/or the cost of assets not exceeding 84 000 000 BGN.

(2) The enterprises under par. 1 small enterprises are those, having

1. average enlisted number of personnel less than 50 persons and

2. annual turnover not exceeding 19 500 000 BGN or the value of their long-term material assets does not exceed 19 500 000 BGN and

(3) Of the enterprises under par. 1 micro-enterprises are those, having:

1. average enlisted number of personnel less than 10 persons and

2. annual turnover not exceeding 3 900 000 BGN or the value of their long-term material assets does not exceed 3 900 000 BGN

Art. 4. (revoked - SG 64/04, in force from 25.08.2004, new - SG 59/06) (1) When calculating data under Art. 3 it shall be considered if the enterprise is independent, if it is a partner enterprise pursuant to par. 3 or it is a related enterprise under par. 5.

(2) Independent enterprise is any enterprise which is not a partner enterprise in the sense of par. 3 and in not a related enterprise in the sense of par. 5.

(3) Partner enterprises are enterprises, which are not related enterprises in the sense of par. 5 and between which the following relationship exists: one of the enterprises owns independently or jointly with one or more related enterprises from 25 to 50 per cent of the capital or of the number of votes in the General Assembly of another enterprise.

(4) An enterprise shall be deemed independent also in case when its partner enterprises are the following persons:

1. investment companies;

2. risk investment companies;

3. natural persons, investing usually risky, individually or jointly, in enterprises, which are not public companies in the sense of Art. 110 of the Law for Public Offering of Securities (business-angels), provided that their joint investment in one enterprise does not exceed 2 400 000 BGN;

4. higher schools or research centers;

5. institutional investors, including regional development funds;

6. municipalities with a number of residents under 5000 people and with an annual budget not exceeding 19 000 000 BGN;

(5) related enterprises are the enterprises, between which one of the following relationships exists:

1. one of the enterprises owns more than the half of the number of the votes in the General Assembly of the other enterprise;

2. one of the enterprises has got the right to appoint or discharge more of the half of the members of the executive, managing or supervisory body of the other enterprise;

3. one of the enterprises has got the right to exercise decisive influence over the other enterprise under a contract, concluded between them, or pursuant to a clause set out in its By-laws, Articles of Incorporation, or any other constituent act;

4. an enterprise, which is a shareholder, partner of a member of another enterprise, controls independently more than the half of the number of votes in the General Assembly of that enterprise under an agreement with other shareholders, partners or members.

(6) No decisive influence under par. 5, item 3 over the enterprise is available, provided that the persons, indicated in par. 4 do not participate directly or indirectly in enterprise management, thus without breaking their rights of partners or shareholders.

(7) Enterprises, which implement through one or more other enterprises or through a person under par. 4 any of the relationships under par. 5, shall be deemed related enterprises.

(8) Enterprises, implementing between themselves any of the relationships under par. 5, through a natural person or a group of natural persons, acting jointly, shall also be deemed related enterprises, provided that they carry out their business or part of it at the same respective market or vertically related markets.

(9) With the exception of the cases under par. 4, an enterprise cannot be deemed an enterprise under par. 3, provided that 25 per cent or more of the capital or of the number of votes in the General Assembly are controlled directly or indirectly, jointly or separately by one or more state bodies.

Art. 4a. (new - SG 59/06) (1) Circumstances under Art. 3 and 4 shall be subject to declaration. The declaration shall be drafted in a form, approved by the Minister of Economy and Energy. The approved from shall be promulgated in the State Gazette.

(2) When the capital is divided in such a way, that it is not possible to identify by whom exactly it is owned, the enterprise can declare, that 25 per cent or more of its capital or of the number of votes in the General Assembly are not owned by another enterprise or jointly by related enterprises.

Art. 4b. (new - SG 59/06) (1) Data under Art. 3 shall be determined based on the preceding financial year.

(2) If in two subsequent financial years an enterprise exceeds or falls under the limits under Art. 3, this shall affect its status of a micro-, small- or medium-size enterprise.

(3) In case of a newly established enterprise, the data under Art. 3 shall be determined according to the values of parameters for the preceding financial year.

Art. 4c. (new - SG 59/06) (1) The average enlisted personnel of an enterprise shall be calculated based on the number of personnel, employed in the enterprise or hired on behalf of the enterprise as full time employees over the whole year. Personnel, who have not worked over the whole year, persons, having worked on part-time basis, regardless the duration of the work, and seasonal workers shall be re-calculated as full-time employees.

(2) Personnel shall consist of:

1. individuals hired under labour law relationship and equivalent to labour law relationship;

2. individuals not having labour law relationship or equivalent to labour law relationship, but are in a contractual relationship with the enterprise and shall be deemed hired persons;

3. owners managers, including, sole traders, working as members of co-operations pursuant to the provisions of the Law for co-operations, as craftsmen pursuant to the provisions of the Law for crafts or as agricultural producers.

4. partners, participating with personal labour in the common business of the enterprise and getting remuneration for this labour.

(3) The number of trainees, apprentices, University and school students, undergoing their professional training in the enterprise under a contract, shall not be included in the number of personnel.

(4) The number of persons on leave due to pregnancy and maternity up to the age of 2 of the child shall not be included in the number of personnel.

Art. 4d. (new - SG 59/06) (1) When the enterprise is independent, the data under Art. 3 shall be determined based on its financial statement;

(2) When the enterprise is a partner enterprise pursuant to the provisions of Art. 4, par. 3 or is a related enterprise pursuant to the provisions of Art. 4, par. 5, the data under Par. 3 shall be determined based on the annual financial statement or the balance of accounts of the enterprise, or balances of accounts, in which the enterprise is included.

(3) To the data of the respective enterprise under par. 2 data of each partner enterprise, with which it has a direct relation, shall be added, as follows:

1. a value taken from the data of the immediate superior partner enterprise shall be added, which is proportional to the owned share of the capital or to the number of votes in the General Assembly of the respective enterprise under par. 2 (whichever is bigger);

2. a value taken from the data of the immediate inferior partner enterprise shall be added, which is proportional to the owned share of the capital or to the number of votes in the General Assembly, owned by the respective enterprise under par. 2 in the inferior enterprise (whichever is bigger); in case of joint shares, the bigger share shall be considered.

(4) To the data under par. 2 and 3 of the partner enterprise shall be added as total data of each enterprise, related to it, provided that these data have not been included through a balances of accounts.

(5) Data of partner enterprises shall be taken from their annual financial statements or balances of accounts. To these data all data of enterprises, which are related to these partner enterprises, shall be added, unless the data of related enterprises have not already been included in the statements of accounts.

(6) Data of related enterprises shall be taken from their annual financial statements or statements of accounts. To the data of related enterprises all data of each their partner enterprise shall be added, unless the data have not already been included in the statements of accounts with a share, proportional to the share under par. 3.

Chapter two.

BODIES FOR IMPLEMENTING THE POLICY FOR ENCOURAGING THE SMALL AND THE MEDIUM ENTERPRISES (title amend. SG 64/04, in force from 25.08.2004)

Art. 5. (amend. - SG 64/04, in force from 25.08.2004) (1) (amend. - SG 59/06) The Council of Ministers shall approve the national strategy for encouraging the small- and medium-size enterprises;

(2) (amend. - SG 59/06) The Minister of Economy and Energy shall:

1. manage, coordinate and control the implementing of the state policy for encouraging of the small and the medium enterprises by the creating and the development of competitive small and medium enterprises, accounting for the need of achieving balanced social economic development of the separate regions of the country;

2. coordinate the conducting of the state policy at interacting with the state bodies, the bodies of the local government, the non profit corporate bodies, the associations, supporting the small and the medium enterprises and the branch chambers and unions;

3. implement analysis of the status and the development of the small and medium enterprises.

4. (new - SG 59/06) approve annual programs of implementation of the national program for encouraging the small- and medium-size enterprises, with attached reports on their accomplishment in the preceding year.

(3) The bodies of the executive power shall conduct the state policy for encouraging of the small and medium enterprises according to the national strategy and the annual programs.

(4) (amend. - SG 59/06) Upon request by the Minister of Economy and Energy the Agency "Customs" and other state bodies shall present information and concrete data for the needs of analyses and the preparation of the annual report.

Art. 6. (amend. - SG 64/04, in force from 25.08.2004) (1) (amend. - SG 59/06) Executive agency for encouraging of small and medium enterprises shall be created at the Minister of Economy and Energy, called hereinafter "the agency".

(2) The agency shall be managed and represented by executive director.

(3) The agency shall be corporate body with headquarters in Sofia and with territorial units, which maintenance shall be formed from budget resources and revenues from own activity.

(4) The structure, the activity, the organization of the work and the members of the agency shall be determined with structural regulation, approved by the Council of Ministers.

(5) (revoked - SG 59/06)

Art. 7. (amend. - SG 64/04) (1) The executive director of the agency shall:

1. fulfill the state policy for encouraging the small and the medium enterprises;

2. participate in the development and give statements on drafts of normative acts and international agreements, related to encouraging of the small and medium enterprises and analyze the impact of the normative acts in this field;

3. organize and coordinate the development and the fulfillment of projects from the annual programs for applying of the national strategy for encouraging of the small and medium enterprises;

4. organize and coordinate the development and the fulfillment of projects and programs, directed to regions for purposed impact and to groups in non equivalent situation on the labour market;

5. implement information servicing of the small and medium enterprises and the enterprises, candidates for programs and projects, financed by the European Union and other donors;

6. implement investigations and analysis of the concrete factors, influencing the conditions for implementing economic activity by the enterprises;

7. organize training courses and seminars for small and medium enterprises and for increase of the commercial skills and experience;

8. cooperate for the investment in small and medium enterprises by foreign and local individuals and corporate bodies together with the Bulgarian agency for investments;

9. implement cooperation with local, foreign and international government and non government organisations, implementing activity for development and encouraging of the small and medium enterprises;

10. organize the establishing and the maintenance of information system;

11. (new - SG 59/06) upon an assignment of the Council of Ministers organize and coordinate the establishment and activity of an intermediate unit under operative program of the National action plan of the Republic of Bulgaria;

12. (new - SG 59/06) implement measures and projects for implementation of the state policy in the field of innovations;

13. (prev. text of item 11, SG 59/06) implement also other activities, directed to stimulation of the development of the competitiveness of small and medium enterprises.

(2) The executive director of the agency may assign the implementation of the activities of para 1, items 5 7, as well as the organizing and the coordination of projects of para 1, items 3 and 4 on territorial principle through competition, and upon only one candidate direct negotiation may be conducted. The activities shall be assigned to non profit corporate bodies, implementing activity for supporting the small and medium enterprises.

(3) The conditions and the order, under which activities of para 2 are assigned, shall be determined with ordinance by the Council of Ministers.

Art. 8. (amend. - SG 64/04) The agency shall establish and maintain information system with data about:

1. the small and medium enterprises in the Republic of Bulgaria; about local producers, exporters and importers;

2. the organizations, the banks, the donor programs, conceding purposed financing to small and medium enterprises, the conditions for financing and the forms for participation;

3. the organizations, rendering other support to the small and medium enterprises, includi8ng introduction of new technologies, rendering information and consultation services;

4. the projects, the programs and the courses for training of small and medium enterprises;

5. the administrative services, rendered by the agency, including standardized and unified forms when there are such.

Art. 9. (revoked SG 64/04)

Art. 10. (revoked SG 59/06)

Chapter three.

CONSULTATIVE COUNCIL FOR ENCOURAGING SMALL AND MEDIUM ENTERPRISES (title amend. SG 64/04)

Art. 11. (amend. - SG 64/04, in force from 25.08.2004) (1) (amend. - SG 59/06) Consultative council for encouraging small and medium enterprises shall be established at the Minister of Economy and Energy for implementing the cooperation in the field of encouraging the small and medium enterprises, called hereinafter "the Consultative council".

(2) The Consultative council shall be consultative body, in which participate representatives of ministries, of the National association of the municipalities in the Republic of Bulgaria, of non profit corporate bodies, of associations, supporting small and medium enterprises, branch chambers and unions, of "Encouragement bank" Co., as well as scientists specialists in the issues of economic policy.

(3) (amend. - SG 59/06) The Minister of Economy and Energy shall be chairman of the consultative council by right.

(4) The executive director of the agency shall be member of the consultative council by right.

(5) The organizational technical support of the work of the consultative council shall be implemented by the administration of the agency.

(6) (amend. - SG 59/06) The organization of work and the members of the consultative council shall be determined with a regulation by the Minister of Economy and Energy. The personal members of the consultative council shall be determined with an order by the Minister of Economy and Energy.

Art. 12. (1) (amend. SG 64/04) The Consultative Council for shall:

1. discuss the condition and the policy of encouragement and development of the small- and medium-size enterprises and shall present proposals for its priority trends for the respective year;

2. (amend. SG 64/04) discuss the results of the analysis of the condition and the development of the small and medium enterprises by spheres and branches and make proposals at the working out of the annual report;

3. propose improvement of the normative provision of the public relations related to the small- and medium-size enterprises;

4. provide public access to information for legislative initiatives and participation of the entrepreneurs and their associations in the discussion of bills and by-law normative acts;

5. (new SG 64/04) discuss the results and give recommendations for the fulfillment of the national strategy for encouragement of the small and medium enterprises and of the annual programs for its implementation.

(2) (amend. - SG 64/04) The Consultative Council can also form expert groups on concrete issues of its competence.

Chapter four.

MEASURES FOR THE ENCOURAGEMENT AND DEVELOPMENT OF SMALL- AND MEDIUM-SIZE ENTERPRISES

Section I.

General Provisions

Art. 13. (amend. SG 64/04) In the national strategy for encouragement of the small and medium enterprises shall be determined the objectives and the priorities for encouragement and the role of the state bodies and the bodies of local government for its implementation.

(2) The annual programs shall contain projects and initiatives for implementation of the national strategy during the respective year.

Art. 14. (amend. SG 64/04) (1) The national strategy for encouragement of the small and medium enterprises and the annual programs for its application shall contain measures for:

1. encouragement of the creating of small and medium enterprises under the conditions, the order and the criteria of the Law of the state support and the regulation for its implementation by:

a) creating of favourable conditions for the emerging pf new small and medium enterprises;

b) creating of favourable conditions for access to capital, including conceding financing to small and medium enterprises;

c) guaranteeing of part of the credit risk of credits, conceded purposefully to small and medium enterprises;

d) developing and realising of projects for small and medium enterprises;

e) organizing of training for acquiring entrepreneur skills;

f) creating positive image of entrepreneurship through programs and measures for its promotion;

g) support of the investigation of the opportunity for realisation of new business ideas;

h) letting for rent properties private state and private municipal property;

i) establishing of technological parks and incubators for development of small and medium enterprises;

2. encouragement of the development and increasing of the competitiveness of the small and medium enterprises under the conditions, the order and the criteria of the Law of the state support and the regulation for its implementation by:

a) development of projects, directed to encouragement of the dissemination of technologies and innovations in the small and medium enterprises and expanding of their opportunities to choose and apply technologies and innovations;

b) realising of projects for increasing of the competitiveness of the enterprises by increasing their productivity out of the measures for introduction of new technologies;

c) preparing of methodology and conducting of optimal utilisation of the purposed resources for small and medium enterprises in the pre-accession funds, the structural funds and the programs of the European Union and creating the necessary administrative capacity for its application;

d) information servicing of the small and medium enterprises;

e) organizing of training for increase of the professional foreign trade qualification of the managers and the personnel of the enterprises;

f) supporting the participation of the small and medium enterprises in international fairs;

g) developing of projects for encouragement of the small and medium enterprises in defined sectors and regions for purposeful impact, as well as among the groups in non equivalent position on the labour market;

h) other activities and measured in favour of small and medium enterprises under other laws.

(2) The measures of para 1, item 1, items d), g) and i) and item 2, item a), may be implemented with the participation of scientific organisations and higher schools.

(3) (revoked - SG 59/06)

Section II.

Financial support to the activities on encouragement of the establishment and development of small- and medium-size enterprises

Art. 15. (amend. - SG 64/04 in force from 25.08.2004, amend. - SG 59/06) The state can assist the activities for encouraging of the small and medium enterprises within the framework of the budget of the Ministry of Economy and Energy with resources for the projects and the measures, included in the national strategy for encouragement of the small and medium enterprises and in the annual programs for its implementation.

Art. 16. (amend., SG 80/00, amend. SG 64/04) "Encouragement bank" Co. shall credit with priority small and medium enterprises under conditions and by an order determined by the statutes and by the rules for operation of the bank.

Section III.

Programs for encouragement of the development of small- and medium-size enterprises

Art. 17. The ministries and administrative bodies, according to their competence shall provide in their branch programs measures for:

1. increase of the number of the employed in the small- and medium-size enterprises;

2. increase of the export activity of the small- and medium-size enterprises and their competitiveness;

3. encouragement of the investment in the small- and medium-size enterprises;

4. improvement of the informational and consultative services to small- and medium-size enterprises;

5. improvement of the professional qualification and acquiring entrepreneur skills;

6. increase of the number of high-tech small- and medium-size enterprises.

Art. 18. (revoked SG 64/04)

Art. 19. (1) The municipal councils, within the frames of the resource provision of the regional development and in compliance with the plans for regional development shall:

1. work out and fulfil long-term and medium-term programs for encouragement of the small- and medium-size enterprises on the territory of the respective municipality;

2. (amend. SG 64/04) assist the small- and medium-size enterprises, the Agency for employment and other organisations for realisation of programs for training and improvement of the qualification of the managers and of the employees of small- and medium-size enterprises.

(2) The activities under para 1 shall be realised jointly with the Agency.

Art. 20. In the programs under Art. 17 and 19 the municipal councils, the ministries and administrative bodies shall specify the goals of the measures and conditions for participation of the small- and medium-size enterprises.

Section IV.

Participation of the small- and medium-size enterprises in the privatization of state and municipal enterprises and renting real estates - private state and private municipal property (revoked SG 59/06)

Art. 21. - 24. (Revoked, SG 28/02)

Art. 25. (revoked - SG 59/06)

Art. 26. (revoked - SG 59/06)

Chapter five.

ADMINISTRATIVE PENALTY PROVISIONS (REVOKED - SG 59/06)

Art. 27. (revoked - SG 59/06)

Art. 28. (revoked - SG 59/06)

Additional provisions

1. (amend. - SG 59/06) In the context of this law:

1. "Enterprise" is every natural person, legal person of civil society carrying out business operations, regardless the ownership, its legal or organizational form;

2. "Annual turnover" is the net amount of the proceeds from ordinary business of the enterprise.

3. "Risk investment companies" are joint stock companies, incorporated for investment of risk capital in small- and medium-size enterprises;

4. "Risk investment" is investment in small- and medium-size enterprises upon their incorporation and at the initial stage of their development;

5. "Institutional investor" is an investor pursuant to the provisions of the Law of public offering of securities.

6. "Regional development funds" are the funds, providing financial support for the development of the regions in specific fields: production investments, construction and modernization of infrastructures, investments in the field of public health and education, etc.

7. "Respective market" is the market under Art. 1, item 5 of the Additional provision of the Law for protection of competition.

8. "Vertically related markets" are the markets of goods and services, immediately preceding or following a specific market of goods along the chain of production-distribution.

9. "Newly established small- and medium-size enterprises" are small- and medium-size enterprises, for which up to 12 months have expired after their entering into the records of BULSTAT register.

10."Associations, supporting small- and medium-size enterprises" are the associations, registered under the Law of non-profit legal persons, the registered objective of which is provision of support and cooperation to small- and medium-size enterprises, regardless of the form of its implementation, or associations, in which more than two third of their members are small- and medium-size enterprises or more than the half of the implemented by them projects and programs are oriented to small- and medium-size enterprises.

11. "Branch chambers and unions" are the associations, registered under the Law for the non-profit legal persons, the members of which carry out similar business activity in the same branch of the economy.

12. "Regions of goal-oriented influence" are the regions of goal-oriented influence pursuant to the provisions of the Law of regional development.

13. "Groups in unequal position on the labour market" are groups in unequal position on the labour market pursuant to the provisions of the Law for encouragement of employment.

14. "Immediate inferior partner enterprise" is the enterprise, in which another enterprise owns from 25 to 50 percent of the capital or of the number of votes in its General meeting.

15. "Immediate superior enterprise" is the enterprise, which owns in another enterprise from 25 to 50 percent of the capital or of the number of votes in its General meeting.

Transitional and concluding provisions

2. The assets, liabilities, as well as the other rights and obligations of the Agency for small- and medium-size enterprises at the Ministry of Industry shall be transferred to the Agency for small- and medium-size enterprises at the Council of Ministers.

3. (1) Closed down from January 1, 1999 shall be fund "small- and medium-size enterprises" at the Agency for small- and medium-size enterprises at the Ministry of Industry and the non-budget account for financing the activity of the Agency for small- and medium-size enterprises.

(2) The funds and the takings under the closed down fund and non-budget account under para 1 shall be transferred to the budget of the Agency for small- and medium-size enterprises.

4. This law revokes the Law for the state bank for investments and development (prom., SG, No 95/1996; amend., No 52/1997, No 153/1998).

5. Item 7 is created in Art. 2, para 2 of the Law for transformation and privatisation of state and municipal enterprises (prom., SG No 38/1992; amend. and suppl., No 51/1994, No 45, 57 and 109/1995, No 42, 45, 68 and 85/1996; corr., No 86/1996; amend. No 55, 61, 89, 98 and 122/1997, No 39/1998; corr., No 41/1998; amend., No 70/1998):

"7. measures for encouragement of the development of small- and medium-size enterprises."

6. In Art. 10, para 1, item 3 of the Law for protection in cases of unemployment and encouragement of the employment (prom., SG, No 120/1997; amend., No 155/1998, No 25, 50, 65, 67 and 68/1999) added at the end is "and training for the development of small- and medium-size enterprises".

7. (revoked SG 64/04)

8. (1) (amend., SG 92/00) The Minister of Finance shall assign an audit of the Bulgarian Economic Chamber under the conditions and by the order of the Law for the state internal financial control.

(2) If the audit under para 1 establish takings and resources of the state in fund "small- and medium-size enterprises" at the Bulgarian industrial economic association (Bulgarian economic chamber) they shall be submitted to the Agency for small- and medium-size enterprises.

The law was adopted by the 38th National Assembly on September 9, 1999 and was affixed with the official seal of the National Assembly

Transitional and concluding provisions

(SG 64/04)

22. (1) The Executive agency for encouragement of the small and medium enterprises shall be legal successor of the Agency for small and medium enterprises at the Council of Ministers and of the Executive agency for encouragement of trade at the Minister of Economy.

(2) The assets, the liabilities, the archive and the other rights and liabilities of the Agency for small and medium enterprises and the Executive agency for encouragement of trade shall be assumed by the Executive agency for encouragement of the small and medium enterprises.

(3) The official and the employment legal relations with the employees of the Agency for small and medium enterprises and the Executive agency for encouragement of trade shall be arranged under the conditions and the order of art. 87a of the Law of the civil servant, respectively art. 123, para 1 of the Labour Code.

23. The issued certificates for entering in the register of the small and medium enterprises shall preserve their effect till the elapse of the term of their validity. The started procedures for entering in the register shall be terminated and the paid fees for entering shall be returned.

..

25. (1) The Council of Ministers shall approve structural regulation of the Executive agency for encouragement of the small and medium enterprises in one month term after the promulgation of this law in State Gazette.

(2) The Council of Ministers shall approve the ordinance of art. 7, para 3 in two months term after the promulgation of this law in State Gazette.

26. The regional governors and the mayors of the municipalities shall create conditions and cooperate with the Executive agency for encouragement of the small and medium enterprises by conceding to it buildings or use, premises and other material conditions, necessary for implementing its activity.

27. The law shall enter into force one month after its promulgation in State Gazette except 25, which shall enter into force from the day of promulgation.

Transitional and concluding provisions

TO THE LAW OF THE COMMERCIAL REGISTER

(PROM. SG 34/06, IN FORCE FROM 01.10.2006)

 

56. This law enters in force from 1st of October 2006, except 2 and 3, which enter in force from the date of promulgation of the law in the State Gazette.

Transitional and concluding provisions

TO THE LAW AMENDING THE LAW FOR THE SMALL- AND MEDIUM-SIZE ENTERPRISES

(PROM. - SG 59/06)

 

13. Everywhere in this law the words "Minister of Economy" and "the Minister of Economy" shall be replaced respectively with "Minister of Economy and Energy" and "the Minister of Economy and Energy".




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