LAW FOR THE COMMODITY EXCHANGES AND MARKET-PLACES
Prom. SG. 93/1 Nov 1996, amend. SG. 41/10 Apr 1998, amend. SG. 153/23 Dec 1998, suppl. SG. 18/26 Feb 1999, amend. SG. 20/14 Mar 2000, amend. SG. 41/24 Apr 2001, amend. SG. 30/11 Apr 2006, amend. SG. 34/25 Apr 2006, amend. SG. 85/20 Oct 2006, amend. SG. 42/5 Jun 2009, amend. SG. 82/16 Oct 2009, amend. SG. 18/5 Mar 2010, amend. SG. 97/10 Dec 2010
Chapter one.
GENERAL PROVISIONS
Art. 1. (amend. – SG 85/06, in force from 20.10.2006) This law settles the conditions and order of establishing, the structure and activity of the commodity exchanges, commodity market-places and producers markets.

Art. 2. (1) The commodity exchange is an organised market at a definite place, providing conditions for conclusion of exchange transactions with commodities between merchants, through the mediation of brokers in definite hours and by an order, announced publicly and in advance. The exchange shall provide to its members and to their clients equal conditions for participation in the trade.
(2) (New, SG 41/98) (2) A commodity exchange shall be established and organised only as joint-stock company according to the requirements of Chapter Four.
(3) (Prev. para 2 - SG 41/98) To carry out activity as a commodity exchange a permit shall be required under the conditions and by the order of this law.

Art. 3. (1) (Amend,. SG 41/98; amend. – SG 85/06, in force from 20.10.2006) The commodity market-place is a place and an infrastructure for wholesale of available foodstuffs and flowers, in which the market-place organizer shall provide sales premises or any other assets to the traders at the market-place.
(2) (new – SG 41/98; amend. – SG 85/06, in force from 20.10.2006) For carrying out activity as a market-place a registration under the conditions and following the procedure set in this law shall be required.
(3) (Prev. para 2 - SG 41/98; revoked – SG 85/06, in force from 20.10.2006)

Art. 3a. (new – SG 85/06, in force from 20.10.2006) (1) Producers market is a place and infrastructure for wholesale, in which producers registered under the Law for supporting of agricultural producers, shall sell to traders fresh fruit, vegetables, flowers and fish.
(2) For carrying out activity as a producer market a registration under the conditions and following the procedure set in this Law shall be required.

Chapter two.
STRUCTURE OF THE STATE COMMISSION FOR THE COMMODITY EXCHANGES AND MARKET-PLACES
Art. 4. (amend. and suppl.– SG 85/06, in force from 20.10.2006) Established is State Commission for the commodity exchanges and market-places, called hereinafter "the commission". It is a state body to the Council of Ministers for regulation and control of the establishment and activity of the commodity exchanges, commodity market-places and producers markets.

Art. 5. (1) The commission is a corporate body at budget support, with headquarters in Sofia.
(2) (Amend., SG 41/98; Amend., SG 20/00) For financing the activity of the commission resources shall be raised from:
1. the fees collected by the commission;
2. the fines and the proprietary sanctions collected by the order of chapter six.
(3) (New, SG 41/98; Amend,. SG 20/00) The resources under para 2 shall be received in the budget of the commission and shall be spent for supporting its activity, including for improvement of the qualification of the employees.
(4) (New, SG 41/98; Revoked SG 20/00)
(5) (New, SG 41/98; Revoked, SG 20/00)

Art. 6. (1) (Amend., SG 20/00; amend. – SG 85/06, in force from 20.10.2006; amend. – SG 82/09, in force from 16.10.2009; amend. – SG 18/10, in force from 05.03.2010) The commission consists of chairman and two members. They shall be appointed and discharged by the Council of Ministers at the proposal of the Ministry of Economy, Energy and Tourism, with a mandate of five years. The requirements for the occupations in the commission, as well as its structure, shall be determined by regulations for the structure and activity of the commission, adopted by the Council of Ministers.
(2) (amend. – SG 85/06, in force from 20.10.2006) The activity, structure and organization of work of commission administration shall be established with institutional regulations, adopted by the Council of Ministers.
(3) (Amend., SG 20/00) The chairman, the members of the commission and its employees shall be obliged to keep the trade secrets, having become known to them in connection with the fulfilment of their functions.
(4) (new – SG 85/06, in force from 20.10.2006) The Chairperson of the commission shall present to the Council of Ministers an annual report on its activity.

Art. 7. (1) (Amend., SG 20/00) The chairman and the members of the commission shall be discharged or their legal capacity shall be discontinued for:
1. gross violation of the law;
2. perpetration of premeditated crime of general nature, established by a sentence of the court;
3. impossibility to fulfil their obligations for a period, longer than six months;
4. (new – SG 42/09; amend. - SG 97/10, in force from 10.12.2010) enforcement of an act, by which a conflict of interests has been identified pursuant to the Law on Prevention and Establishment of Conflict of Interests.
(2) (Amend,. SG 20/00; suppl. – SG 85/06, in force from 20.10.06; amend. – SG 82/09, in force from 16.10.2009) In the cases under para 1, as well as in cases of resignation or death, the Council of Ministers shall appoint a new Chairman or a Member, at the proposal of Minister of Economy, Energy and Tourism until the end of the initial mandate.

Art. 8. (1) The commission shall:
1. (amend. – SG 85/06, in force from 20.10.2006) control the commodity exchanges and their members, the market-places and producers markets for their legal activity;
2. issue and revoke permits, stipulated by this law;
3. (new – SG 85/06, in force from 20.10.2006) register commodity market-places and producers markets under the conditions and following the procedure, set in this law;
4. (prev. item 3 – SG 85/06, in force from 20.10.2006) impose compulsory administrative measures, stipulated by this law;
5. (prev. item 4 – SG 85/06, in force from 20.10.2006) approach the competent state bodies for undertaking activities beyond its competence;
6. (prev. item 5 – SG 85/06, in force from 20.10.2006) settle other issues of its competence.
(2) The commission shall have the right to inspect all persons, for which there is reason to believe that they violate the law.
(3) In carrying out the control the commission shall have the right to:
1. free access to the official premises of all controlled persons, including the persons under para 2;
2. require documents and written explanations from the inspected persons;
3. send its representatives to the meetings of the managing and control bodies of the persons controlled by it.
(4) All data and documents related to a violation of the law, which can disclose the personality of the person who has provided them, shall be submitted by the commission to third persons only upon his written consent, unless the law provides otherwise.

Art. 9. The state bodies and the officials shall be obliged to assist the commission in carrying out its functions.

Art. 10. (1) The commission shall keep registers:
1. for the commodity exchanges and the brokers, carrying out activity at the respective commodity exchange;
2. for the commodity market-places;
3. (amend. – SG 85/06, in force from 20.10.2006) for the effected registrations for broker activity;
4. (new – SG 85/06, in force from 20.10.2006) for producers markets.
(2) The Council of Ministers shall adopt ordinance for the circumstances, subject to registration, the keeping and the storing of the registers under para 1.
(3) For the carried out activities and for the issued documents the commission shall collect taxes, determined by a tariff, adopted by the Council of Ministers.

Art. 11. The registers kept by the commission shall be generally accessible and everybody shall have the right to read them and to obtain copies or abstracts from them.

Art. 12. (1) The meetings of the commission shall be considered regular if more than half of its members are present.
(2) The commission shall take decisions by a majority of half of its members.
(3) (amend. - SG 30/06, in force from 12.07.2006) The individual administrative acts of the commission can be appealed for their lawfulness by the order of the Administrative procedure code.

Art. 13. (1) (prev. text of Art. 13 - SG 85/06, in force from 20.10.2006) The chairperson of the commission shall:
1. organise and manage the activity of the commission;
2. convene and chair the meetings of the commission;
3. represent the commission;
4. issue penalty decrees in the cases, stipulated by the law.
(2) (new – SG 85/06, in force from 20.10.2006) The Chairperson can delegate to a member of the commission fulfillment of individual powers for a specific term.

Chapter three.
ISSUANCE AND WITHDRAWAL LICENSE AND REGISTRATION (TITLE -AMEND. SG 85/06, IN FORCE FROM 20.10. 2006)
Art. 14. (1) (amend. – SG 85/06, in force from 20.10.2006) For establishing and carrying out activity as commodity exchange the commission shall issue a license.
(2) (amend. – SG 85/06, in force from 20.10.2006) To the application for issuance of a permit for carrying out activity as a commodity exchange shall be attached:
1. the statutes of the company;
2. data about the deposited capital and its structure, according to the requirements of Art. 23;
3. the names and addresses of the persons who shall manage and represent the commodity exchange;
4. draft of exchange regulations;
5. information about the premises and the technical equipment of the commodity exchange.
6. (new – SG 85/06, in force from 20.10.2006) institutional regulations for exchange arbitration.
(3) (amend. – SG 85/06, in force from 20.10.2006) To the application for registration of a commodity market-place shall be attached:
1. (Amend., SG 41/98; amend. - SG 34/06, in force from 01.10.2006) current certificate of registration in the commercial register of the respective trader;
2. (Amend., SG 41/98) The constituent act according to the type of the merchant.
3. information about the deposited capital;
4. draft regulations for the organisation and activity of the commodity market-place;
5. the permits and certificates, issued by the competent bodies, certifying the fitness of the area and the material provision of the commodity market-place for trade with the respective commodities and services;
6. (Amend., SG 41/98; suppl. – SG 85/06, in force from 20.10.2006)) Official scheme - copy of the construction and regulation plan for the territory of the market-place and enclosed description containing information about the places and the ways of offering the respective types of commodities and commodity groups, as well as a document, attesting rights on premises and areas, where the activity shall be carried out;
7. general conditions of the contract for renting areas on the territory of the commodity market-place;
8. (amend. – SG 85/06, in force from 20.10.2006) certificate of entering into BULSTAT register;
9. (new – SG 85/06, in force from 20.10.2006) documents, attesting meeting the requirements of Art. 4 to the territory on which the commodity market place is arranged.
(4) (new – SG 85/06, in force from 20.10.2006) The requirements to the territory on which the commodity market-place is organized, are:
1. the commodity market-place shall be organized on a regulated land property, allocated for a market-place with an enforced detailed spatial plan.
2. the property under item 1 shall have to be fenced with a solid fence, to be provided with an access for vehicles and at least one parking lot for heavy vehicles and one parking lot for cars for each trade premise and shall have two gates for entrance and exit.
3. the commodity market-pace shall be engineered and constructed as a complex project of minimum forth category pursuant to the Law for spatial planning.
4. the commodity market-place shall have to be constructed in compliance with the legal requirements for trading with the respective groups of commodities marketed in it, and
5. the commodity market-place shall have to be provided with constructed toilet units for the employees and for visitors.
(5) (new – SG 85/06, in force from 20.10.2006) To the application for registration of a producers market the documents under par. 3, item 1 – 8 shall be attached, as well as documents, attesting meeting the requirements to the territory, on which the producers market is organized.
(6) (new – SG 85/06, in force from 20.10.2006) The requirements to the territory, on which a producers market is organized, are:
1. fenced property, covered with a hard flooring;
2. provided access for vehicles with two gates for entrance and exit and enough parking lots;
3. property with power and water supply provided with accomplished leveling, providing run-off of surface waters;
4. constructed toilet units for merchants and for visitors.
(7) (prev. par. 4; amend. – SG 85, in force from 20.10.2006) The commission shall deliver a decision on the application and the attachments thereto within one month from its receipt. The applicant shall be informed about the decision within 7 days.
(8) (prev. par. 5; amend. – SG 85, in force from 20.10.2006) If, until the expiration of the period under para 7, sentence one the commission has not delivered a decision, it shall be deemed that there is an implied consent.
(9) (new – SG 85, in force from 20.10.2006) Validity of registrations of a commodity market place and of a producers market shall be unlimited.
(10) (new – SG 85, in force from 20.10.2006) For registered producers markets and commodity market-places the commission shall issue a certificate of registration within 7 days after the delivery of the decision or after the expiration of the term under par. 7, sentence one.

Art. 15. (amend. and suppl. – SG 85, in force from 20.10.2006) The board of directors of the commodity exchange, the organizer of the commodity market-place or the organizer of the producers market, shall inform the commission about each consecutive change of the circumstances, declared under Art. 14, within 14 days from their occurrence.

Art. 16. (1) (amend. – SG 85, in force from 20.10.2006) The commission shall refuse the issuance of a license for carrying out activity as a commodity exchange when:
1. the requirements of this law have not been complied with;
2. (amend. – SG 85, in force from 20.10.2006) the person, authorised to manage and represent the commodity exchange is:
a) under insolvency proceedings;
b) insolvent, who has not reinstated his rights;
c) sentences for bankruptcy;
3. (amend. – SG 85, in force from 20.10.2006) the exchange regulations do not meet the requirements of the law;
4. the way of trade does not provide equal conditions to the members for participation in it;
5. there is no possibility of control over the fulfilment of the conclusion of transactions at the commodity exchange;
6. (amend. – SG 85, in force from 20.10.2006) the statutes and the exchange regulations shall contain provisions, giving preferences to the stock holders or members in the participation in the exchange trade.
(2) (amend. – SG 85, in force from 20.10.2006) In the cases under para 1 the commission shall inform the applicant and shall determine a deadline for elimination of the discrepancies, which cannot be longer than one month.
(3) If the applicant does not eliminate the discrepancies within the period under para 2, the commission shall refuse the issuance of permit by a written motivated decision.

Art. 16a. (new – SG 85, in force from 20.10.2006) (1) The commission shall reject to enter into register and to issue certificates of registration of commodity market-place or producers market in case of non-fulfillment of one of the requirements under Art. 14.
(2) The commission shall delete from the register a commodity market-place or a producers market and shall render null and void the issued certificate in case of violation of any of the requirements under Art. 14, par. 3, 4, 5 and 6.

Art. 17. (amend. – SG 85, in force from 20.10.2006) In the cases of refusal under Art. 16 and 16a the applicant can extend another request for issuance of a license or for registration immediately after the enactment of the decision for refusal or for deletion from the register.

Art. 18. (amend. - SG 34/06, in force from 01.10.2006) (1) (amend. – SG 85, in force from 20.10.2006) The Recordation Agency shall enter in the trade register the activity as commodity exchange after presentation of the license issued by the commission.
(2) (revoked – SG 85, in force from 20.10.2006)

Art. 19. (1) (amend. – SG 85, in force from 20.10.2006) The commission shall withdraw the issued license of a commodity exchange if:
1. (amend. – SG 85, in force from 20.10.2006) false information has been presented, which has served as grounds for issuance of a license;
2. for systematic violations of this law.
(2) (amend. – SG 85, in force from 20.10.2006) If, upon expiration of one year from the establishment of the exchange, there are less than 50 members, the commission shall determine a period of 6 months for adding to the membership. If, upon expiration of the term, the number of members is not accomplished, the commission shall withdraw the license.

Art. 20. (1) (amend. – SG 85, in force from 20.10.2006) With the decision for withdrawal of the license the commission shall discontinue the legal capacity of the bodies of the commodity exchange and shall appoint one or several questors.
(2) (amend. – SG 85, in force from 20.10.2006) From the moment of enactment of the decision for withdrawal of the license for the commodity exchange new transactions cannot be concluded, except if it is necessary for the fulfilment of already concluded transactions.
(3) Until the appointment of a liquidator the questor(s) shall exercise the rights and obligations of the board of directors of the commodity exchange.

Art. 21. (1) (suppl. and amend. - SG 34/06, in force from 01.10.2006; amend. – SG 85, in force from 20.10.2006) Upon the enactment of the decision for withdrawal of the license the commission shall immediately send a copy of it to the Recordation Agency for entering in the commercial register the closing down of the company and for opening proceedings for its liquidation. In these cases the commission shall appoint a liquidator and shall determine the period to perform the liquidation and the remuneration of the liqudator.
(2) (revoked- SG 34/06, in force from 01.10.2006; revoked – SG 85, in force from 20.10.2006)

Art. 21a. (new – SG 85, in force from 20.10.2006) (1) The validity of the registrations shall be terminated with a decision of the commission in case of suspended activity as commodity market-place or producers market upon a demand expressed in writing by the organizers of the commodity market-place or the producers market and in cases of Art. 16a, par. 2
(2) The commission shall enter by the office channel termination of the activity and shall render null and void the issued certificate.

Chapter four.
COMMODITY EXCHANGES
Section I.
Establishment and management
Art. 22. (1) (Amend., SG 41/98) The commodity exchange is a joint-stock company with one-level system of management, having as a sole subject of activity the establishment of organised market according to Art. 2, para 1.
(2) (Amend, SG 41/98) The commodity exchange, the executive members of the board of directors and the employees of the commodity exchange cannot:
1. carry out broker's activity;
2. be members of the exchange or conclude contracts with members of the exchange, directly or through related persons;
3. conclude trade transactions, directly or through related persons, unless its is necessary for carrying out the activity of the exchange according to Art. 2, para 1;
4. submit, selectively or in advance, trade information to members of the commodity exchange, to its clients or to other interested persons, except in the cases stipulated by the exchange regulations.
(3) The commodity exchange shall not form profit and shall not distribute dividends.
(4) (New, SG 41/98; amend. – SG 85, in force from 20.10.2006) The income of the commodity exchange shall be formed by taxes, interest and donations.
(5) (New, SG 41/98; amend. – SG 85, in force from 20.10.2006) The type and the size of the taxes shall be determined by the exchange regulations.
(6) (New, SG 41/98) The excess of the income over the expenses of the commodity exchange shall be established at the end of the accountancy year and the resources shall be installed in fund "Reserve" of the joint-stock company.
(7) (New, SG 41/98) The resources of fund "Reserve, besides for the purposes under Art. 246, para 3 of the Commercial Law, shall be used for covering expenses related to the activity of the commodity exchange.

Art. 23. (1) (Amend,. SG 41/98) In order to establish a commodity exchange the applicant must have deposited capital, amounting to at least 250 million levs.
(2) At least 25 percent of the capital under para 1 should be deposited at the time of presentation of the application for permit, and the remaining part - upon receipt of the permit.

Art. 24. (amend. – SG 85, in force from 20.10.2006) Stock holder in the commodity exchange cannot possess, directly or through related persons, more than percent of its stock, unless with the permission of the commission.

Art. 25. The commodity exchange shall issue only personal stock with the right of one vote.

Art. 25a. (new – SG 85, in force from 20.10.2006) (1) Commodity exchange shall apply a system of non-attending commerce under terms and conditions and following a procedure, set in rules of commerce, detailed in the exchange regulations.
(2) The system under par. 1 shall have to guarantee:
1. equivalent access to market information and equal conditions for participation in the trade to all exchange members;
2. computer-aided conclusion of exchange transactions;
3. irreversibility of concluded through the system exchange transactions;
4. electronic connection with clearing and settlement systems;
5. direct accounting of concluded transactions;
6. immediate announcement of entered orders or quotes and the concluded through the system transactions;
7. effective control and analysis of concluded transactions and entered orders and quotes;
8. opportunities for trading for all exchange members and for technical maintenance and improvement;
9. up-to-date protection of the computer system;
10. observance of all remaining legal requirements.
(3) Rules of commerce shall include:
1. the requirements, which exchange members shall meet in order to conclude transactions at the respective trading circle;
2. the requirements, procedure and terms of registration of exchange members as participants for the respective trading session;
3. the conditions, procedure and terms of provisional or final exclusion of exchange members from participation in the trade;
4. the specific procedures and requirements with regard to trade implementation through the system of par. 1, as well as the conditions for carrying out clearing and settlement;
5. organization of control over the trade of the respective trade circle;
6. the conditions, procedure and terms of obtaining a direct access by non-participating in the trade persons to the quotes, concluded transactions and other commercial information within the system under par. 1;
7. the procedure of adjudication of disputes, related to conclusion of transactions through the system under par. 1 and their implementation;
8. the conditions and procedure of imposing of sanctions to exchange members and/or brokers.

Art. 26. (Amend., SG 41/98; amend. – SG 85, in force from 20.10.2006) (1) For guaranteeing the liabilities of the parties under concluded futures and optional transactions the commodity exchange shall establish a clearing house or shall conclude a contract with an operating clearing house. The organization and the rules of operation of the clearing house hereinafter referred to as "clearing member" can be any person – trader who meets the requirements determined in the ordinance.
(2) The clearing house shall establish a guarantee fund for guaranteeing payments under fixed-term exchange transactions. Every member of the clearing house shall install in this fund a sum for guaranteeing the transactions for whose fulfilment he is responsible, in amount determined by its regulations. The conditions and the order of establishment of a guarantee fund and its activity shall be determined by the ordinance under par. 1
(3) The clearing house shall be licensed by the commission.
(4) To the application for issuing a license shall be attached:
1. the articles of incorporation of the company;
2. data about the deposited capital and its structure in compliance with the requirements under Art. 26a;
3. certificate of entering into BULSTAT register;
4. names and addresses of persons, who will manage and represent the clearing house;
5. draft regulations of the clearing house; the minimum requirements to the content of the regulations shall be set in the ordinance under par. 1;
6. data about the premises and the technical equipment of the clearing house.

Art. 26a. (new – SG 85, in force from 20.10.2006) (1) Clearing house is a joint stock company with a single-level management, whereas not less than 50 per cent of its members are also members and shareholders of the commodity exchange. No member of the clearing house can use any priority over the remaining members.
(2) For the establishment of a clearing house it is required that the applicant has deposited a capital of at least 500 000 levs.
(3) Members of a clearing house, who are not members and shareholders of the exchange can be financial institutions.
(4) The clearing house:
1. shall issue only one vote registered shares;
2. cannot issue preference shares;
3. cannot carry out commercial transactions, unless this is required for its operation;
4. shall not accumulate profit and shall not allocate dividends;
5. cannot grant loans or provide collateral to third parties;
6. cannot issue bonds;
7. cannot get loans under conditions, less favourable than the market ones in the country.
(5) The Board of Directors of the clearing house shall:
1. adopt regulations of organization and operation of the clearing house;
2. accept and discharge members of the clearing house;
3. organize and control payments under concluded transactions;
4. impose sanctions on members under conditions and following a procedure, set in the regulations of organization and in the ordinance under Art. 26, par. 1;
5. exercise any other right, granted to it according to the law, the ordinance under Art. 26, par. 1, Articles of Incorporation and the regulations;
6. adopt decisions and issue directions with regard to exercising of its rights.
(6) The clearing house shall provide:
1. rooms of high security level;
2. financial control system, which shall provide:
a) compliance with the requirements for capital adequacy of clearing members in compliance with the ordinance under Art. 26, par. 1;
b) control of cash margin deposits;
c) control of precise execution of all transactions;
d) keeping confidentiality about commodity items;
3. conditions for electronic transfer of payments;
4. collection and payment of margin deposits in consideration of the value of the opened items and their adjustment in case of modification of market prices;
5. maintenance of electronic register of guaranteed exchange transactions.

Art. 27. (1) The board of directors of the commodity exchange shall:
1. work out the exchange regulations;
2. provide the compliance with the law, the statutes and the exchange regulations by the participants in the exchange trade;
3. determine the kind of commodities, traded at the commodity exchange and shall suspend temporarily or finally the trade with definite commodities, under the conditions and by the order of the exchange regulations;
4. accept members of the commodity exchange and remove them, temporarily or finally, from the exchange trade, under the conditions and by the order of the exchange regulations;
5. organise and control the payments under concluded transactions;
6. adopt decisions and issue orders in connection with exercising its rights;
7. impose sanctions to the members in cases of violation of this law, the acts of its implementation, the exchange regulations, as well as the orders and decisions under item 6;
8. (New, SG 41/98) organise the management and control of the funds of the exchange according to the law, the statutes of the exchange and the exchange regulations;
9. (Prev. item 8 - SG 41/98) exercise other rights, assigned to it by the law, the statutes and the regulations.
(2) (Amend., SG 41/98) The commodity exchange, by a decision of the general assembly of the share holders, shall form a commission in which proportionally shall participate representatives of the share holders, the members of the commodity exchange of the brokers in a ratio determined by the regulations of the exchange, as a member of the commission cannot be simultaneously a representative of a share holder, member of the exchange and broker. The board of directors shall co-ordinate its decisions under para 1, item 1, 3, 4 and 7 with the commission and it can delegate to it the rights under para 1, item 3 and 7.

Art. 28. (Suppl., SG 41/98) The general assembly of the share holders of the commodity exchange shall adopt the exchange regulations upon approval by the commission.

Art. 29. (1) (prev. text of Art. 29 – SG 85/06, in force from 20.10.2006) The exchange regulations shall settle:
1. the types of transactions concluded by the commodity exchange;
2. the order, by which the groups and types of commodities, traded at the commodity exchange, are determined;
3. the order of establishing, functioning and closing down of exchange circles;
4. the rules of concluding transactions;
5. the order of fulfilment of the transactions;
6. the requirements and the order of accepting members and their temporary or final removal from the exchange trade;
7. the conditions and order of temporary suspending of the trade with definite commodities;
8. the requirements to be observed by the brokers;
9. the rules of keeping brokers' diaries;
10. the order of determining the services and their prices;
11. the conditions and order of imposing sanctions to the members of the commodity exchange and the brokers.
12. (New, SG 41/98) The order, the type and the way of announcing and publishing the information regarding the traded commodities and the concluded transactions;
13. (New, SG 41/98) the principles and the order of submitting preliminary information about the traded commodities, the exchange members and the representing brokers to persons participating in the exchange trade;
14. (New, SG 41/98) other issues determined by this law.
(2) (new - SG 85/06, in force from 20.10.2006) The exchange regulations shall be obligatory for the commodity exchange, for its members and for brokers.

Section II.
Membership and exchange arbitration
Art. 30. (1) (amend. - SG 85/06, in force from 20.10.2006) Member of the commodity exchange can be only a trader in the sense of the Commercial Law and persons, registered under the legislation of a Member State of the European Union and the European Economic space, meeting the requirements of the exchange regulations.
(2) (revoked - SG 85/06, in force from 20.10.2006) 
(3) (Amend., SG 41/98) A person to whom it is refused the admission as a member of the commodity exchange can request the general assembly of the share holders of the exchange to revoke the refusal. The claim against the refusal shall be included for consideration at the next general assembly of the share holders.

Art. 31. The members of the commodity exchange shall exercise their rights and shall fulfil their obligations in compliance with the law and with the exchange regulations.

Art. 32. Certificates of membership shall be issued to the members of the commodity exchange.

Art. 33. The board of directors shall establish exchange circles for trading in groups or kinds of commodities, on condition that at least 20 members of the commodity exchange declare their intention to trade with the respective group or kind of commodity.

Art. 34. The members of the commodity exchange shall exercise their rights of trading in exchange circles.

Art. 35.(amend. and suppl. - SG 85/06, in force from 20.10.2006) If the number of submitted offers or of the concluded transactions in an exchange circle drops below 20, for a period of 10 consecutive days of trading, the board of directors shall take a decision for the temporary suspension of the activity of the circle, informing immediately the commission about this.

Art. 36. ( revoked - SG 85/06, in force from 20.10.2006)

Art. 37. (1) (amend. and suppl. - SG 85/06, in force from 20.10.2006) Each commodity exchange shall establish an exchange arbitration.
(2) (Suppl., SG 41/98) The general assembly of the share holders of the commodity exchange shall:
1. appoint the chairman of the exchange arbitration for a period of three years;
2. adopt regulations for the exchange arbitration.
(3) The exchange arbitration shall:
1. give obligatory interpretation of the exchange regulations;
2. settle disputes in connection with the conclusion and fulfilment of the exchange transactions.
3. (new - SG 85/06, in force from 20.10.2006) resolve disputes with regard to execution of contracts between members and their clients and between members and brokers.
(4) The commodity exchanges can establish a common arbitration. The commodity exchange can assign its functions under para 3 to an arbitration, established at another commodity exchange.
(5) The exchange arbitration shall settle the disputes on the grounds of the law, the exchange regulations and the customs of the exchange trade.
(6) The arbitration decision shall be final.
(7) For issues, not settled by this Art., shall apply the Law for the international trade arbitration.

Section III.
Broker
Art. 38. (1) The broker is a physical person who concludes the transaction at the exchange on behalf of a member of the commodity exchange.
(2) The broker shall conclude transaction at the commodity exchange in compliance with the interests of the clients and the members of the commodity exchange.

Art. 39. The broker shall not have the right to conclude transactions at the commodity exchange on his account or personally, or through a third person.

Art. 40. (amend. - SG 85/06, in force from 20.10.2006) (1) A broker can be a person who has been entered into the register of brokers, carrying out activity at the commodity exchange.
(2) Into the register of brokers, carrying out activity at the commodity exchange shall be entered a person, who:
1. able and not convicted for premeditated crime of general nature;
2. meets the following requirements for qualification when carrying out broker activity
a) has accomplished a secondary school;
b) has accomplished a training course for broker’s activity at a commodity exchange, carried out by an organizer, registered by the commission on the grounds of an approved by the commission curriculum;
(3) entering into the register of a broker, carrying out activity at a commodity exchange, shall be implemented on the grounds of a written application to the commission, which shall contain applicant’s full name, personal ID number, number of the identification document and permanent address. To the application shall be attached:
1. certificate of no previous conviction;
2. document of accomplished secondary or higher education;
3. document of accomplished training course for broker’s activity at the commodity exchange.
(4) The commission shall consider the application and shall take a decision for carrying out registration within 5 working days after the date of acceptance of the application.
(5) The commission shall delete a broker from the register of the brokers, carrying out activity at the commodity exchange in case of:
1. written request by the broker to be deleted;
2. modification of circumstances, due to which the person does not meet anymore the requirements of par. 2, item 2.
(6) Upon deletion of the registration as a commodity exchange broker the commission shall withdraw the issued certificate and shall announce this publicly. 
(7) The deleted from the register broker shall not have the right to conclude transactions at the commodity exchange.

Art. 41. (amend. – SG 85/06, in force from 20.10.2006) A broker cannot conclude a contract with more than one member of the commodity exchange.

Art. 42. (amend. and suppl. - SG 85/06, in force from 20.10.2006) The member of the commodity exchange shall inform in writing immediately the board of directors and within 7 days the commission about the concluded and terminated contracts with brokers.

Art. 43. (Amend., SG 41/98) (1) The broker shall keep a ledger containing information about the serviced clients, as well as any other information regarding the assigned and carried out broker's activity. The type and the contents of the broker's ledgers shall be determined by the exchange regulations. The ledgers shall be kept by the commodity exchange for a period of five years after their conclusion.
(2) At the request of a client the exchange shall submit information regarding the fulfilment of his order.
(3) (new - SG 85/06, in force from 20.10.2006) The information under par. 1 shall be entered by the broker in the broker’s book of records immediately after acceptance of the order or after signing an exchange contract. When the order has been accepted during an exchange session, entering shall be done within the frame of the exchange session.

Art. 44. (Amend., SG 41/98) The information kept in the broker's ledgers represents a trade secret and it cannot be submitted in any form whatsoever to persons not related to its contents.

Section IV.
Exchange transactions
Art. 45. Exchange transaction is a trade transaction, which is concluded within one working day between members of the commodity exchange under conditions and by an order, determined by the exchange regulation, having as subject commodities, traded at the commodity exchange.

Art. 46. The member of the commodity exchange shall be obliged to inform the client about the trade risks of concluding the exchange transaction.

Art. 47. Exchange transaction shall be concluded on behalf of a member of the commodity exchange for his account or for the account of his client.

Art. 48. Member of the commodity exchange can make proposals for conclusion of transactions only through a broker of the commodity exchange.

Art. 49. The objection of a client to the announced transaction at the commodity exchange shall be presented by the order, established by the exchange regulations. If an objection is not made the client cannot require the announcement of invalidity of the transaction regarding him.

Art. 50. The order for conclusion of exchange transaction can be withdrawn by the client before its conclusion.

Art. 51. At the commodity exchange can be concluded:
1. transactions with immediate effect;
2. forward transactions;
3. futures transactions;
4. optional transactions.

Chapter five.
COMMODITY MARKET-PLACES AND PRODUCERS’ MARKETS (Title suppl. – SG 85/06, IN FORCE FROM 20.10.2006)
Section I.
General Provisions
Art. 52. (Amend. SG 41/98) (1) (amend. - SG 85/06, in force from 20.10.2006) The organizer of a commodity exchange:
1. shall not have the right to conclude transactions in his name or in the name of another person and for his account for commodities sold on the market-place;
2. shall not be responsible for the fulfilment of the responsibilities under a transaction concluded between the merchants on the market-place;
3. require for the commodities designated for sale on the market-place to be accompanied by documents of origin, as well as by documents for compliance with the obligatory requirements for quality and safety and for compliance with the sanitary, veterinary and sanitary, hygienic and other norms issued by the specialised state control bodies;
4. provide the necessary premises and create conditions for exercising control over the origin of the commodities and their quality and other activities related to the market trade;
5. (amend. - SG 85/06, in force from 20.10.2006) organize control over the quality of the commodities entering the territory of the market-place;
6. (new - SG 85/06, in force from 20.10.2006) announce the regulations of organization, activity and security of the commodity market place and shall provide for its observance.
(2) At a request of a buyer the state control bodies shall be obliged to carry out inspection of the commodities sold at the market-place.
(3) Specialised departments for wholesale trade can be established on the market-place for commodities different from those under Art. 3, para 1 and the wholesale merchants shall be obliged to comply with specific requirements of the regulations for the organisation and activity of the market-place, which shall be stipulated by their contract with the organiser of the market-place.

Art. 52a. (new - SG 85/06, in force from 20.10.2006) The organizer of the producers’ market shall be obliged to:
1. announce the regulations of organization, activity and security of the market and shall provide for its observance;
2. provide technical maintenance of the facilities;
3. create conditions for the activity of control bodies;
4. require that the goods, designated for sale at the producers’ market, to be accompanied by certificates of origin and of compliance with safety requirements;
5. certify through the label the good origin and quality; good origin shall be indicated by specifying the settlement and the municipality, where it has been produced;
6. provide to buyers information about the origin, quality, quantity and the price of offered at the market products.

Art. 53. (Amend., SG 41/98; revoked - SG 85/06, in force from 20.10.2006)

Section II.
Organisation and activity of the commodity market-place and producers’ market (title suppl. – SG 85/06, in force from 20.10.2006)
Art. 54. (Amend., SG 41/98; amend. – SG 85/06, in force from 20.10.2006) (1) The commission shall approve regulations for the organization, the activity and security of the commodity market places, as well as its subsequent amendments
(2) The regulations under par. 1 shall set:
1. the kinds of commodities and commodity groups offered for sale;
2. the places and the time of sales and loading and unloading operations;
3. organization of traffic of vehicles and parking places;
4. the rights and obligations of the persons, carrying out market-place transactions;
5. the conditions of banking servicing of merchants and of other activities, related to facilitation of the trade at the commodity market place;
6. the conditions and order of renting of areas and rooms;
7. the procedure of informing the parties to the market-place transactions about the prices, the implementation method of market place transactions and their registration in the market-place documentation;
8. the amount of rents and taxes for using areas, parking lots, rooms and facilities, the way of their collection and the order of their security, as well as the amount of the admission fee;
9. the rules of provision of safety of natural persons staying at the premises of the commodity market place ;
10. the rules of protection of buildings, machinery and facilities, cash and goods stocks;
11. the place and method of announcement of selling prices.
(3) Observance of the regulations shall be obligatory for the administration of the commodity market place, for the merchants at the market place and for their personnel, as well as for the visitors of the market place.

Art. 54a. (new - SG 85/06, in force from 20.10.2006). (1) The commission shall approve regulations for organization, activity and security of the producers' market, as well as subsequent amendments.
(2) The regulations under par. 1 shall set:
1. kinds of goods and groups of goods subject to offering for sale;
2. places and times of carrying out sales and handling operations;
3. the conditions and the procedure of participation at the market;
4. the practice of maintaining the market clean and tidy;
5. rules of conclusion of transactions at the market;
6. organization of traffic of vehicles and parking lots;
7. the amount of rents and the rates for using services;
8. the procedure of information of the parties of transactions, concluded at the market, about the prices and other conditions of sales of goods.
(3) Observance of the regulations shall be obligatory for the producers' market administration, for the traders, and for the visitors of the market.

Section III.
Market-place transactions
Art. 55. (Amend,. SG 41/98; amend. - SG 85/06, in force from 20.10.2006) Admitted at the market-place shall be the transactions with only available foods and flowers, admitted on the territory of the market-place and at the places, designated for sales.

Art. 56. (revoked - SG 85/06, in force from 20.10.2006)

Art. 57. (amend. - SG 85/06, in force from 20.10.2006) The seller at the commodity market place shall be obliged to provide to the buyer 
1. a description of the commodity and documents related to its quality properties;
2. legally required documents, accompanying the commodities related to their safety or manufacturer’s declaration, when these documents are subject to issuing;
3. documents about the origin and the ownership of the commodity;
4. information about the sale price;
(2) The seller at the commodity market place shall be obliged to keep and provide the documents under par. 1 at the place of implementation of sales.

Art. 58. (revoked - SG 85/06, in force from 20.10.2006)

Art. 59. (1) (suppl. - SG 85/06, in force from 20.10.2006) Every seller at a commodity market place shall register the transactions concluded by him in a special diary, also entering the quantity of the commodities under the concluded transactions, their quality, the paid price, the way of payment, as well as other additional conditions.
(2) (Amend., SG 41/98) For the transactions concluded on the market place invoice shall be issued. In the cases of payment in cash shall also be issued cashier's receipt from e registered electronic cash device with fiscal memory.
(3) A merchant who concludes transactions at a commodity market-place shall be obliged to provide, in due time, to the officials authorised by the management of the commodity market-place, true and full information, necessary for preparing information about the market-place transactions.

Art. 60. (Amend., SG 41/98) (1) (amend. - SG 85/06, in force from 20.10.2006) For the transactions concluded on the market-place the organizer on a daily basis shall gather and summarize information regarding the type, the quantity and the prices of the sold commodities according to their quality.
(2) For gathering the information under para 1 the merchant shall fill out and present daily to the officials authorised by the management of the market-place informational slip in a form approved by the commission.
(3) Information regarding the average sale prices, the maximal and the minimal sale prices shall be announced by the management of the market-place at the beginning of the next day in places and in a way determined by the regulations for the organisation and activity of the market-place.
(4) (New, SG 41/01) The officials under para 2 shall work out monthly reports for the received and sold quantities of fish, water organisms and products from them on the basis of the information cards which shall be presented to the Executive Agency for fishery and aquatic cultures.
(5) (Prev. para 4 - SG 41/01; amend. - SG 85/06, in force from 20.10.2006) The commission shall determine annually by a decision the type and the periodicity of the information which the organizer of the commodity market place shall be obliged to provide to it.

Section IV.
Income and expenses of the commodity market-place (revoked – SG 85/06, in force from 20.10.2006)
Art. 61. (revoked - SG 85/06, in force from 20.10.2006)

Art. 62. (revoked - SG 85/06, in force from 20.10.2006)

Art. 63. (Amend., SG 41/98; Revoked, SG 153/98)

Chapter six.
COMPULSORY ADMINISTRATIVE MEASURES AND ADMINISTRATIVE PUNITIVE RESPONSIBILITY
Art. 64. (amend. - SG 85/06, in force from 20.10.2006) In case of identified violations of the law, of the exchange regulations and of the regulations for organization, activity and security of the commodity market place and the producers market the commission shall:
1. give obligatory prescriptions for the elimination of the violations within a period determined by it;
2. suspend the validity of the issued permits for organization of a commodity exchange;
3. terminate the activity in the places and/or of all separate wholesale facilities for trading of goods under Art. 3, par. 1, where commodity market-place activity is being carried out without obtained registration from the commission;
4. terminate the activity in the places and/or of all separate wholesale facilities for trading of goods under Art. 3, par. 1, where producers market activity is being carried out without obtained registration from the commission;
5. terminate the activity in the places and/or of all separate facilities, where exchange activity is being carried out in violation of the legal requirements.
(2) The measures under par. 1 shall be applied upon commission decision.

Art. 64a. (new - SG 85/06, in force from 20.10.2006) (1) In case of application of the measures under Art. 64, par. 1, item 3 and 4 the commission shall cease the activity of all persons, carrying out wholesale in non-registered places or facilities.
(2) In case of application of measures under Art. 64, par. 1, item 3 and 4 the commission shall seal up the premises of the non-registered places or facilities.
(3) In case of sealing up under par. 2 an inventory list of the available in the premises commodities shall be executed. When the person, using the premises, refuses to attend, the inventory list can be executed in his/her absence in the presence of two witnesses.
(4) In case of sealing up under par. 2 a time period not exceeding 14 days shall be set out by a commission decision, within which the persons, using the premises, shall remove the commodities out of them. The commodities shall be removed in the presence of a commission representative.

Art. 64b. (new - SG 85/06, in force from 20.10.2006) In case of termination of the validity of the license for organization of a commodity exchange the commission shall enact the measure under Art. 64, par. 1, item 5.

Art. 64c. (new - SG 85/06, in force from 20.10.2006) The decisions of the commission, by which compulsory administrative measures under the provisions of this law shall be applied, shall be subject to appeal before the Supreme Administrative Court within 14 days after the notification about their issuance. The claim shall not suspend their execution.

Art. 65. (1) (Suppl., SG 41/98; Suppl., SG 18/99; Amend., SG 20/00; amend. - SG 85/06, in force from 20.10.2006)) Who violates Art. 2, para 2, Art. 3, para 2, Art. 3a, par. 2, Art. 6, para 3, Art. 8, para 3 and 4, Art. 9, Art. 11, Art. 14, para 1, Art. 15, Art. 22, para 2, Art. 25, Art. 27, par. 1, Art. 29, par. 2, Art. 31, Art. 35, Art. 38, para 2, Art. 39, 41, 42, 43, 44, 52, 52a, Art. 54, par. 3, Art. 54a, par. 3, Art. 55, 57, 59 and 60 and §3 shall be fined with a fine amounting from 400 to 3500 levs, unless the perpetration does not institute a crime. The same penalty shall be imposed to a person who does not fulfil the prescriptions under Art. 64, par. 1, item 1.
(2) For violations under para 1 the legal persons and the single traders shall be imposed property sanctions, amounting from 3500 to 12 500 levs.

Art. 66. (Amend,. SG 20/00) The act for establishing a violation under Art. 65 shall be issued by an official authorised by the chairman of the commission, and the penalty decree shall be issued by the chairman of the commission.

Art. 67. The establishment of the violation, the issuance, the appeal and the fulfilment of the penalty decree shall be done under the Law for the administrative violations and penalties.

Additional provisions

§ 1. For the issues, unsettled by this law, shall apply the provisions of the Commercial Law.

§ 2. In the context of this law:
1. "Immediate effect transaction" is a transaction, whose parties have agreed upon delivery of available commodities and the obligations under which are fulfilled within 10 working days upon its conclusion.
2. (Amend., SG 41/98) "Forward transaction: is a transaction under which the parties sell or purchase commodity at a price determined at the time of its conclusion, fixing the date of delivery.
3. "Futures transaction" is an exchange transaction with a fixed term, whose parties have undertaken the obligation for a sale and purchase of a definite type of commodity, at a date fixed in advance, at a price fixed on the day of conclusion of the futures transaction. The fulfilment of the futures transaction shall be carried out through the system of clearing, in compliance with the order of the parties.
4. (Amend., SG 41/98) "Optional transaction" is a transaction between the parties within a fixed time, against payment of a definite premium by one of the parties for acquiring the right, through a unilateral declaration on being a buyer, respectively a merchant, of a definite commodity, at a price fixed in advance, and within a fixed period. The other party shall undertake the obligation of being the opposite party to the transaction.
5. "Related persons" are:
a) persons, one of which controls the other or his branch company;
b) the persons, whose activity is controlled by a third person;
c) the persons who jointly control a third person;
d) the spouses, the relatives on the descending line, on the collateral side up to the third degree, including relatives by law up to the third degree including.
6. "Systematic violation" shall be present when three or more deeds have been perpetrated, which constitute individually one or more different administrative and punitive contents of one and the same administrative violation of the law and of acts for its implementation, with permanent and stable connection between the independent deeds.
7. (New, SG 41/98) "Margin deposit" is the sum paid by the merchant and the buyer to guarantee that they will act according to the conditions of the exchange contract. It can be secured in cash or in other high-liquidity assets. The size and the way of its addition shall be determined by the exchange regulations.
8. (New, SG 41/98; amend - SG 85/06, in force from 20.10.2006) For "Food" shall be applied the definition under Art. 2 of the Law for the foodstuffs.
9. (New, SG 41/98; revoked - SG 85/06, in force from 20.10.2006)
10. (New, SG 41/98) "Wholesale trade" is the sale of a quantity larger than the unit transport packing, when the commodity is packed, or a quantity determined by the regulations for the organisation and activity of the market-place when the commodity is not packed.
11. (new - SG 85/06, in force from 20.10.2006) “Merchant at a commodity market place” is every person, association, trade company, sole trader, agricultural producer, who carries out trade on the territory, announced as a commodity market place by the commission.
12. (new - SG 85/06, in force from 20.10.2006) “Complex facility” is a facility, designated for carrying out of one of more basic activities along with the relevant supplementary, servicing activities, whereas the activities shall be carried out in independent separate sub-facilities in one or more buildings and facilities.

§ 3. (amend. - SG 85/06, in force from 20.10.2006) Merchants and corporate bodies, which do not meet the requirements of the law, cannot include in their names the words "commodity exchange" and "commodity market-place.

Transitional and concluding provisions

§ 4. The following amendments and supplements are introduced to Art. 60 of the Law for the local taxes and duties:
1. In letter "a", the words "and market-places" are deleted.
2. New letter "b" is created:
3. The present letters "b", "c" and "d" become respectively letters "c", "d" and "e".

§ 5. The organisations and persons who, at the time of enactment of this law, carry out activities as commodity exchange, market-place or brokers, shall be obliged to bring their organisation and activity in compliance with the requirements of the law within six months from the day, on which the commission begins to accept documents for issuance of permits for establishing commodity exchange, for carrying out activity as commodity market-place and for issuance of permit for broker activity.

§ 6. (Amend., SG 41/98; amend. - SG 85/06, in force from 20.10.2006) The implementation of the law is assigned to the Council of Ministers.

The law was adopted by the 37th National Assembly on October 17, 1996 and was affixed with the state seal.

Transitional and concluding provisions
(SG 41/98; amend. – SG 85/06, in force from 20.10.2006)
§ 30. The persons who carry out activity as commodity exchange or market-place shall be obliged to rearrange their activity in compliance with the requirements of this law within six months from its enactment.

§ 31. (revoked - SG 85/06, in force from 20.10.2006)

§ 32. The law shall come into force on the day of its promulgation in the State Gazette.

Transitional and concluding provisions
TO THE ADMINISTRATIVE PROCEDURE CODE
(PROM. – SG 30/06, IN FORCE FROM 12.07.2006)

§ 142. The code shall enter into force three months after its promulgation in State Gazette, with the exception of:
1. division three, § 2, item 1 and § 2, item 2 – with regards to the repeal of chapter third, section II "Appeal by court order", § 9, item 1 and 2, § 15 and § 44, item 1 and 2, § 51, item 1, § 53, item 1, § 61, item 1, § 66, item 3, § 76, items 1 – 3, § 78, § 79, § 83, item 1, § 84, item 1 and 2, § 89, items 1 - 4§ 101, item 1, § 102, item 1, § 107, § 117, items 1 and 2, § 125, § 128, items 1 and 2, § 132, item 2 and § 136, item 1, as well as § 34, § 35, item 2, § 43, item 2, § 62, item 1, § 66, items 2 and 4, § 97, item 2 and § 125, item 1 – with regard to the replacement of the word "the regional" with the "administrative" and the replacement of the word "the Sofia City Court" with "the Administrative court - Sofia", which shall enter into force from the 1st of May 2007;
2. paragraph 120, which shall enter into force from the 1st of January 2007;
3. paragraph 3, which shall enter into force from the day of the promulgation of the code in State Gazette.

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 OF AMENDMENT AND SUPPLEMENTATION OF THE LAW FOR COMMODITY EXCHANGE AND MARKET PLACES
(PROM. – SG 85/06, IN FORCE FROM 20.10.2006)

§ 57. (1) Persons, who as of the time of entering of this law into force hold a certificate of a permit for organization of a commodity market place or a commodity exchange, shall be obliged to adjust their activity in compliance with its requirements within one year after its entering into force.
(2) Provided that the persons, holding an issued certificate of a permit for organization of a commodity market place or a commodity exchange, fail to meet the requirements of this law within the term under par. 1, the commission shall withdraw the issued certificate.
(3) The procedures of issuing of a permit for organization of an activity as a commodity market place, initiated under the provisions to date, shall be continued under the conditions and following the provisions of this law.

§ 58. The law shall enter into force from the day of its promulgation in the State Gazette.

Transitional and concluding provisions
TO THE LAW ON AMENDMENT AND SUPPLEMENTATION OF THE LAW ON TOURISM
(PROM. – SG 82/09, IN FORCE FROM 16.10.2009)

§ 59. This Law shall enter into force from the day of its promulgation in the State Gazette.

Transitional and concluding provisions
TO THE LAW ON AMENDMENT AND SUPPLEMENTATION OF THE LAW ON THE PRIVATIONSATIONA AND POST-PRIVATISATION CONTROL
(PROM. - SG 18/10, IN FORCE FROM 05.03.2010)

§ 36. This Law shall enter into force from the day of its promulgation in the State Gazette.