Newsfeed
Young Leaders School
Day newsfeed

Amendments to Law on Bankruptcy: In case inspection body records fact of non-implementation of decisions, it should apply to authorized body

May 02,2023 19:30

It is proposed to define that in case of non-implementation of the orders, conclusions and decisions made by the Inspection Body within the time limit set by them, the audited entity whose bankruptcy judgment has entered into legal force or liquidation process has started and in the event that as a result of this there is immediate danger to the life and health of citizens, as well as the danger of an emergency situation of natural or man-made nature, the Inspection Body must apply to the authorized body within three working days from the moment of recording the fact of non-fulfillment of decrees, conclusions and decisions, presenting to the latter a proposal for the control carried out by the Inspection Body regarding the elimination of the violations recorded as a result of the actions by the Inspection Body not eliminated within the specified period.

This was stated by the Acting Head of the Coordination Bureau of Inspection Bodies Armen Danielyan presenting the package of draft laws on Making Amendments and Addenda to the Law on Bankruptcy, on Making Addenda to the Law on Fire Safety and on Making Addenda to the law on State Regulation of Technical Security authored by the Government for debate at May 2 sitting of the National Assembly.

It is proposed to fix with the package of draft laws that in case of non-fulfillment of the claim for compensation by the audited entity within one month, the charging should be carried out judicially.

Summing up, the rapporteur also noted that the law stipulates that only with the consent of the RA Prime Minister, control can be carried out in the fields of technical and fire safety, as well as environmental protection in organizations that are in the process of bankruptcy, and proposed to fix that the moratorium should not be extended to the claim for compensation of financial expenses incurred by the Authorized Body as a result of the elimination of the recorded violations defined by the laws on Fire Safety and on State Regulation of Technical Safety.

The deputy of the Civil Contract Faction Mariam Poghosyan inquired whether the law applies to companies that have not been declared bankrupt, and if not, why. In response, Armen Danielyan informed that there is no restriction, if, according to the Inspection Body, there is a threat that needs to be eliminated, and the organization does not do it, then its jurisdiction passes to the Authorized Body.

The co-rapporteur, the member of the Standing Committee on State and Legal Affairs Alkhas Ghazaryan informed the parliamentarians that the package of drafts was fully debated in the Committee and endorsed.

The deputy called on to vote for the package of drafts.

 

National Assembly of the Republic of Armenia

Media can quote materials of Aravot.am with hyperlink to the certain material quoted. The hyperlink should be placed on the first passage of the text.

Comments (0)

Leave a Reply