2006-10-22
The Commercial Register Act becomes effective as of October 1, 2006, /promulgated, SG. No. 34/25.04.2006/. It shall provide for the establishment of The Commercial Register which shall be a standard centralized electronic database containing the entered Traders, branches of foreign traders and circumstances related thereto. The Commercial Register shall be kept by the Registry Agency with the Minister of Justice. The Commercial Register shall be public. Any person shall have the right to free access thereto and to the documents on the basis of which the entries, expungements and disclosures have been made.
The Agency shall determine a standard identification code /"SIC"/, mandatory for the persons entered in the Commercial Register. The standard identification code shall be determined at initial entry of traders and the branches of foreign traders in the Commercial Register and shall remain unchanged until their expungement. In case a SIC is quoted, the state authorities, the organs of local self-government and local administration and the persons commissioned with engaging in public function shall not have the right to require proof of the circumstances entered in the Commercial Register or the presentation of acts disclosed in the Commercial Register.
Entry in the Commercial Register shall be made on the basis of an application by form.
The applications on paper means shall be submitted at any territorial unit of Agency according to the seat of district courts. The applicant shall sign also a declaration concerning the veracity of circumstances declared thereby or concerning the adoption of the acts submitted. The personal identity of applicant shall be checked at acceptance of application. The Commercial Register Act shall provide the opportunity for acceptance of applications, and sending documents in electronic form, conveyed by electronic means, under the conditions and by the procedure of the Electronic Document and Electronic Signature Act. The official on the registration shall come out with a pronouncement on the application for entry or expungement until the end of the first work day following acceptance at the latest, except if another time limit for pronouncement is not provided by a law.The official on the registration shall make a pronouncement on the application for disclosure immediately.
Anyone shall be entitled to request a quotation as regards the existence or lack of an entered circumstance or disclosed act in the Commercial Register. References shall be made and certificates shall be issued immediately at any territorial division of the Agency.
Under the terms of § 4 of THE TRANSITIONAL AND FINAL PROVISIONS of The Commercial Register Act, all the traders and branches of foreign traders, entered in the register of commercial corporations and the register of companies with district courts , shall be obligated to re-register within three years of the enforcement of this act. State fee for re-registrations shall not be charged. In order to re- register the traders shall submit an application, as well as a certificate reflecting the current status resulting from all changes on the record previously, wherein the court shall quote the trader BULSTAT code. Companies and cooperatives shall also present an instrument of constitution or statutes as amended to date and certified by their organ of management.
In the case of coincidence of the business names of two or more traders, established at application for re-registration, the agency shall send notification thereof to all traders whose business names coincide, providing the trader who has applied for re-registration with two months to declare change of business name. In case of non-declaration of change of business name the Agency shall re-register the trader according to the certificate, mentioned above, mandatorily adding to the business name the nucleated settlement of the district court by registration. Upon re-registration traders and branches of foreign traders shall be excluded from the BULSTAT register and the BULSTAT code shall become SIC of the trader.
The traders and branches of foreign traders that have not submitted application for re-registration until October 10, 2009 shall be entered ex officio by The Agency and dissolved аfterthat . The Agency shall appoint a liquidator, determine the remuneration thereof and the term of liquidation.
