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LAW OF THE REPUBLIC OF BELARUS

of July 13, 2012 No. 415-Z

About economic insolvency (bankruptcy)

(as amended on 24-10-2016)

Accepted by the House of Representatives on June 14, 2012

Approved by Council of the Republic on June 22, 2012

Section I. General provisions

Chapter 1. Basic provisions

Article 1. The main terms used in this Law

For the purposes of this Law the main terms used in it have the following values:

bankruptcy - the insolvency having or acquiring steady nature, recognized by the decision of economic court on bankruptcy with liquidation of the debtor - the legal entity, the termination of activities of the debtor - the individual entrepreneur (further - the decision on opening of liquidating production);

close relatives are the parents, children, adoptive parents adopted (adopted), brothers and sisters, the grandfather, the grandma, grandsons, the spouse (spouse);

the interim (anti-recessionary) manager - the individual entrepreneur, legal entity or physical person (the citizen of the Republic of Belarus or the foreign citizen, the stateless person having residence permit in the Republic of Belarus) appointed by economic court for implementation of the powers in procedures of economic insolvency (bankruptcy) (the interim manager - in the protective period, the anti-recessionary managing director - in bankruptcy proceedings) (further if other is not established by this Law, - the managing director);

the state organization - the state legal entity, the legal entity, shares (share in authorized fund) of which belong to the Republic of Belarus and are transferred to the control to National Bank of the Republic of Belarus, National academy of Sciences of Belarus, Administration of the President of the Republic of Belarus, other state bodies and other state organizations subordinated to the President of the Republic of Belarus, the republican state bodies and other state organizations subordinated to the Government of the Republic of Belarus, national associations, or shares (share in authorized fund) of which are in utility property, the legal entity who is part of national association;

state body - the National Bank of the Republic of Belarus, National academy of Sciences of Belarus, Administration of the President of the Republic of Belarus, other state bodies and other state organizations subordinated to the President of the Republic of Belarus (except for Administration of the President of the Republic of Belarus, the State secretariat of the Security Council of the Republic of Belarus and the Presidential Security Service of the Republic of Belarus), the republican state bodies and other state organizations subordinated to the Government of the Republic of Belarus, local executive and administrative organs, national associations;

the city-forming organization - the legal entity whose number of workers constitutes at least one fourth part of occupied population (workplaces) of the respective settlement or due to implementation of economic (economic) activity of which is supported life support of the respective settlement;

monetary commitment - obligation to pay to the creditor certain sum of money according to the civil transaction or other basis established by the civil legislation;

the debtor - the insolvent legal entity, being the commercial organization (except for the unitary enterprise founded on the right of operational management (the state company)) or the non-profit organization performing activities in the form of consumer cooperative, charity and other foundation, the insolvent individual entrepreneur;

pre-judicial improvement - the measures taken by heads of the organizations, the owner of property of the unitary enterprise, founders (participants) of the legal entity, individual entrepreneurs, state bodies and other organizations for ensuring stable and effective economic (economic) activity of legal entities and individual entrepreneurs, and also recovery of their solvency;

interested persons concerning the debtor - the individual entrepreneur - the physical persons recognized according to this Law interested persons concerning the physical person which is the debtor - the individual entrepreneur, the chief accountant (accountant) of the debtor - the individual entrepreneur, including stopped the employment or civil relations with this debtor if until initiation of proceeedings about economic insolvency (bankruptcy) there passed no more than one year. Concerning the debtor - the individual entrepreneur also persons recognized according to this Law interested persons concerning the physical persons specified in this paragraph are considered as the interested physical persons;

interested persons concerning the debtor - the legal entity:

the legal entity who is the main, dependent or affiliated in relation to the debtor - to the legal entity;

the debtor's head - the legal entity, and also persons entering into Board of Directors (supervisory board) of the debtor, collegiate executive body or other body of the debtor - the legal entity, or the other persons authorized according to constituent documents, agreements or the legislation to manage the debtor - the legal entity, the chief accountant (accountant) of the debtor - the legal entity, including the holding these positions before recognition of the debtor - the legal entity economically insolvent (bankrupt) if until initiation of proceeedings about economic insolvency (bankruptcy) there passed no more than one year. Concerning the debtor - the legal entity also persons recognized according to this Law interested persons concerning the physical persons specified in this paragraph are considered as interested persons;

interested persons concerning the creditor (the competitive creditor):

interested persons concerning the physical person which is the creditor (the competitive creditor);

the legal entity who is the main, dependent or affiliated in relation to the creditor (the competitive creditor) - to the legal entity;

the creditor's head (the competitive creditor) - the legal entity, and also persons entering into Board of Directors (supervisory board) of the creditor (the competitive creditor), collegiate executive body or other body of the creditor (the competitive creditor) - the legal entity, or the other persons authorized according to constituent documents, agreements or the legislation to perform management functions concerning the creditor (the competitive creditor) - the legal entity, the chief accountant (accountant) of the creditor (the competitive creditor) - the legal entity, including the holding these positions before recognition of the debtor - the legal entity economically insolvent (bankrupt) if until initiation of proceeedings about economic insolvency (bankruptcy) there passed no more than one year. Concerning the creditor (the competitive creditor) - the legal entity also persons recognized according to this Law interested persons concerning the physical persons specified in this paragraph are considered as interested persons;

the other persons recognized according to the legal acts interested in the creditor's relation (the competitive creditor);

interested persons concerning the managing director:

the legal entity who is the main, dependent or affiliated in relation to the managing director - to the legal entity;

the managing director's head - the legal entity, and also persons entering into Board of Directors (supervisory board) of the managing director, collegiate executive body or other body of the managing director - the legal entity, or other physical persons authorized according to constituent documents, agreements or the legislation to perform management functions concerning the managing director - the legal entity, the chief accountant (accountant) of the managing director - the legal entity, including the holding these positions before recognition of the debtor - the legal entity economically insolvent (bankrupt) if until initiation of proceeedings about economic insolvency (bankruptcy) there passed no more than one year. Concerning the managing director - the legal entity also persons recognized according to this Law interested persons concerning the physical persons specified in this paragraph are considered as interested persons;

interested persons concerning the physical person who is the managing director;

interested persons concerning physical person - the spouse (spouse), relatives on the direct ascending and descending line, sisters, brothers and close relatives of sisters and brothers on the direct descending line, relatives of the spouse (spouse) on the direct ascending and descending line, sisters and brothers of the spouse (spouse) and relatives of sisters and brothers of the spouse (spouse) on the direct descending line, and also the physical persons recognized by family members according to the legislation on scrap and family;

the protective period - the procedure of economic insolvency (bankruptcy) applied to the debtor from the moment of adoption by economic court of the statement for economic insolvency (bankruptcy) for the purpose of completion of pre-judicial improvement, and also verification of presence of the bases for opening of bankruptcy proceedings and ensuring safety of property of the debtor;

significant part of the company as property complex - property of the organization which alienation will entail the termination of economic (economic) organization activity or will complicate it;

bankruptcy proceedings - the procedure of economic insolvency (bankruptcy) performed for the purpose of the greatest possible satisfaction of requirements of creditors according to the established priority, protection of the rights and legitimate interests of the debtor and also creditors and other persons in the procedure of sanitation, and in case of impossibility of carrying out sanitation or lack of the bases for its carrying out - in the procedure of liquidating production of the debtor;

competitive creditors - the employee representative of the debtor and creditors according to payment obligations - according to the obligations which arose before opening of bankruptcy proceedings and included in the register of requirements of creditors, except for in the physical persons working (working) for the debtor under civil agreements which subject are performance of works, rendering services or creation of intellectual property items. Physical persons before which the debtor bears responsibility for damnification of their life or to health, and founders (participants) of the debtor - the legal entity, before which the debtor bears responsibility according to the obligations following from such participation are not competitive creditors;

creditors - persons having in relation to the debtor rights to claim according to monetary commitments, according to obligations about payment of obligatory payments, about dismissal wage payment and about compensation of persons working according to the employment contract (contract);

large deal - the transaction attracting the order with real or other estate of the debtor - the legal entity whose book value at the time of the conclusion of the transaction makes twenty and more percent of the book value of assets of the debtor determined based on data of accounting records for the last accounting period concerning the debtor - the individual entrepreneur, and also the legal entity applying simplified taxation system without conducting financial accounting - the transaction on the amount, component hundred and more basic sizes;

liquidating production - the procedure of bankruptcy proceedings applied to the debtor declared bankrupt for the purpose of liquidation of the debtor - the legal entity or the termination of activities of the debtor - the individual entrepreneur, sale of property of the debtor and satisfaction of requirements of creditors according to the established priority;

the liquidated debtor - the legal entity on whom the decision on liquidation is made before initiation of proceeedings on economic insolvency (bankruptcy);

the voluntary settlement in proceeedings about economic insolvency (bankruptcy) - the procedure of economic insolvency (bankruptcy) in agreement type between the debtor, competitive creditors, and also the third parties about payment of debts in which are provided release of the debtor from debts, either reduction of the amounts of debts, or payment by installments (delay) of their payment, and also payment due date of debts and so forth applied at any stage of bankruptcy proceedings for the purpose of suit abatement about economic insolvency (bankruptcy) and approved by the economic court considering case on economic insolvency (bankruptcy) (further - the voluntary settlement);

insolvency - inability in full to meet requirements of the creditor (creditors) for payment obligations, and also for the obligations following from the employment and related relationships;

obligatory payments - taxes, charges (duties) and other payments in republican and local budgets, including in the state trust budget funds, and also in state non-budgetary funds which the debtor shall pay according to the legislation, including the amounts of budget loans, budget advances, administrative punishments in the form of penalties, and also the penalties imposed according to the penal legislation;

the organization equated to city-forming - the organization which number of workers constitutes one thousand and more people;

the absent debtor - the individual entrepreneur concerning whom in the place of his residence there are no data on the place of its stay or the legal entity who actually stopped the economic (economic) activity, the residence (location) of the head (governing bodies) of which is not possible to establish;

payment obligations - obligation of the debtor to fulfill monetary commitments and (or) to make obligatory payments;

the employee representative of the debtor - person authorized by the debtor's workers (including the dismissed persons before whom the debt on the obligations following from the employment and related relationships is not repaid) and (or) the physical persons working (working) for the debtor under civil agreements which subject are performance of works, rendering services or creation of intellectual property items to represent their legitimate interests in proceeedings about economic insolvency (bankruptcy);

restructuring - change, rationalization production, organizational, social, financial and other spheres of economic (economic) activity of the debtor for the purpose of recovery of its profitable work and increase in competitiveness;

the debtor's head - the legal entity - sole executive body of the debtor - the legal entity, the other persons acting according to the legislation on behalf of the debtor - the legal entity without power of attorney including which are discharged of position or with which employment contracts (contracts) are stopped according to the legislation on work on the bases provided by this Law;

sanitation - the procedure of bankruptcy proceedings applied for the purpose of ensuring stable and effective economic (economic) activity, recovery of solvency of the debtor;

agricultural organization - the legal entity whose core activity is cultivation (production or production and conversion) of agricultural products which proceeds from sales constitute at least fifty percent from the total amount of revenue for the previous financial year;

economic insolvency - the insolvency having or acquiring steady nature, recognized by the decision of economic court on economic insolvency with sanitation of the debtor (further - the decision on sanitation);

the legal entities and individual entrepreneurs having the state and (or) international orders, - the legal entities and individual entrepreneurs having obligations on delivery of goods, performance of works, rendering services for the state needs and (or) the transactions obliged to make according to which obligation fulfillment is provided with property of the Republic of Belarus or its administrative and territorial unit, guarantee of the Government of the Republic of Belarus, local executive and administrative organs, and (or) the having obligations on accomplishment (ensuring accomplishment) of the foreign and international defense orders, contracts and external economic transactions in other form having the international nature which accomplishment the Republic of Belarus according to its international obligations shall provide.

Article 2. The relations regulated by this Law

This Law establishes the bases for recognition of the debtor by economic court by economically insolvent (bankrupt), the procedure and conditions of carrying out proceeedings about economic insolvency (bankruptcy), implementation of measures for the prevention of economic insolvency (bankruptcy) and other relations connected with it, procedure and conditions of carrying out sanitation of the debtor are regulated, and in case of impossibility of carrying out sanitation or lack of the bases for its carrying out - procedure for liquidating production of the debtor.

For the purpose of ensuring safety of sovereignty of the Republic of Belarus, its homeland security and territorial integrity, political and economic stability, public order, life and health of the population, and also the rights and freedoms of citizens, succession and interaction of state bodies the President of the Republic of Belarus can establish the bases for suspension of any procedure of economic insolvency (bankruptcy), provide withdrawals, including individual legal nature, from the sphere of legal regulation of this Law.

Article 3. Features of application of the legislation on economic insolvency (bankruptcy)

To subjects of the natural monopolies, legal entities which are regime and especially sensitive sites and (or) the having such objects, the legal entities having the objects which are only in property of the state providing maintenance of necessary level of defense capability, functioning of strategically significant industries of economy and (or) other important state requirements and exercising exclusive right of the state on implementation of separate types of activity, the legislation on economic insolvency (bankruptcy) it is not applied, except for Articles 17 - 19 and parts five of article 110 of this Law.

Article 4. Ratio of the legislation on economic insolvency (bankruptcy) of the Republic of Belarus and rules of international law. Recognition in the territory of the Republic of Belarus of court resolutions of foreign states on cases on economic insolvency (bankruptcy)

If the international treaty of the Republic of Belarus establishes other rules, than those which contain in this Law then are applied rules of the international treaty.

Provisions of this Law are applied to the relations regulated by this Law in which as creditors foreign persons participate if other is not established by the international treaty of the Republic of Belarus.

Decisions of the courts of foreign states on cases on economic insolvency (bankruptcy) are recognized in the territory of the Republic of Belarus according to international treaties of the Republic of Belarus.

In the absence of the international treaties of the Republic of Belarus concerning economic insolvency (bankruptcy), court resolutions of foreign states on cases on economic insolvency (bankruptcy) are recognized in the territory of the Republic of Belarus on the basis of the principle of reciprocity and other rules of international law operating for the Republic of Belarus.

Article 5. Responsibility for violation of the legislation on economic insolvency (bankruptcy)

The responsibility for violation of the legislation on economic insolvency (bankruptcy) is established by legal acts.

Article 6. Determination of structure and the size of payment obligations, and also the obligations following from the employment and related relationships

In case of the solution of questions of adoption of the statement for economic insolvency (bankruptcy) of the debtor, on opening of bankruptcy proceedings the structure and the size of payment obligations, and also the obligations following from the employment and related relationships are determined at the time of giving in economic court of the statement for economic insolvency (bankruptcy) of the debtor.

The structure and the size of the payment obligations expressed in foreign currency are determined in Belarusian rubles by recalculation of foreign currency by the official rate of Belarusian ruble established by National Bank of the Republic of Belarus to the corresponding foreign currency on the date of giving in economic court of the statement for economic insolvency (bankruptcy) of the debtor, and concerning banks and the non-bank credit and financial organizations (further - banks) - on the date of decision making about withdrawal of special permission (license) for implementation of banking activity.

In case of determination of availability of the bases for opening of bankruptcy proceedings concerning the debtor are not taken into account:

obligations to citizens according to which the debtor bears responsibility for damnification of their life or to health or on compensation of the moral harm connected with damnification of their life or to health;

obligations to founders (participants) of the debtor - the legal entity, following from such participation.

In case of determination of availability of the bases for opening of bankruptcy proceedings concerning the debtor are taken into account:

the size of the obligations following from the employment and related relationships;

the established size of payment obligations.

The penalty (penalties, penalty fee) which is subject to payment for non-execution or improper execution of obligations is not considered in case of determination of the size of monetary commitment.

The size of payment obligations according to requirements of creditors to the debtor is considered established if it is confirmed with the decision of general or economic court which took legal effect, executive and other documents of title.

Article 7. Consideration of separate disputes in procedures of economic insolvency (bankruptcy)

In procedures of economic insolvency (bankruptcy) the disputes following from the employment and related relationships are considered by general courts.

Disputes on reference of persons of law to debtors or interested persons concerning the debtor, the creditor (the competitive creditor), the managing director are considered by economic courts.

Article 8. Persons having the right to giving in economic court of the statement for economic insolvency (bankruptcy)

Have rights to giving in economic court of the statement for economic insolvency (bankruptcy) of the debtor in connection with non-execution of monetary commitments:

debtor;

the creditor, if other is not established by this Law; prosecutor;

employee representative of the debtor;

state body on cases on economic insolvency (bankruptcy) in the cases established by the paragraph the thirteenth parts one of Article 14 and part one of article 32 of this Law and other authorized state bodies;

other persons who according to this Law are granted the right to filing of application about economic insolvency (bankruptcy) of the debtor in connection with non-execution of monetary commitments.

Have the right to giving in economic court of the statement for economic insolvency (bankruptcy) of the debtor in connection with non-execution of obligation on payment of obligatory payments:

debtor;

prosecutor;

tax authorities;

customs authorities;

bodies of Social Security Fund of the population of the Ministry of Labour and Social Protection of the Republic of Belarus;

other state bodies given according to legal acts the right to pass decisions (instructions, resolutions) about collection (payment) of obligatory payments.

The right to giving in economic court of the statement for economic insolvency (bankruptcy) of the debtor in connection with non-execution of the obligations following from the employment and related relationships the employee representative of the debtor has.

Article 9. The bases for filing of application about economic insolvency (bankruptcy) of the debtor

The debtor has the right to submit to economic court the application for the economic insolvency (bankruptcy) (further - the statement of the debtor) in the presence of one of the following bases:

insolvency of the debtor acquires steady nature;

insolvency of the debtor has steady nature.

The application of the debtor is submitted to economic court without fail in the presence of one of the following bases:

the satisfaction of requirements of one creditor or several creditors leads to impossibility of performance of monetary commitments of the debtor in full before other creditors or to the termination of activities of the debtor - the legal entity;

the body (persons) authorized (representatives) according to constituent documents of the debtor - the legal entity on decision making about its liquidation, makes the decision on giving in economic court of the statement of the debtor;

the owner of property of the debtor - the unitary enterprise or the body authorized by it makes the decision on giving in economic court of the statement of the debtor;

the circumstances provided by part one of article 233 of this Law are revealed.

The debtor is exempted from obligation of filing of application of the debtor in economic court on the basis established by part three of article 20 of this Law.

The state organizations have the right to submit to economic court the application of the debtor in coordination with state body, in subordination (structure) of which they are or which exercises control of the shares (shares in authorized fund) of the debtor belonging to the Republic of Belarus or being in utility property.

The affiliated unitary enterprises created by the state unitary enterprises having the right to submit to economic court the application of the debtor in coordination with state body under supervision (structure) of which the state unitary enterprise - the founder of the affiliated unitary enterprise is.

In the cases established by part two of this Article, the application of the debtor shall be submitted to economic court no later than one month from the date of emergence (identification) of the corresponding basis.

In time, not exceeding ten days from the date of filing of application of the debtor or receipt of the notification of economic court on submission of such statement by other persons, the debtor shall notify workers on giving to them in economic court of the statement of the debtor or on receipt of the corresponding notification of economic court by it.

Article 10. Criteria of the insolvency having or acquiring steady nature

Criteria of the insolvency having or acquiring steady nature are determined by Council of Ministers of the Republic of Belarus in coordination with the State Control Committee of the Republic of Belarus and Supreme Economic Court of the Republic of Belarus.

Article 11. Responsibility of the debtor and other persons in case on economic insolvency (bankruptcy)

If the application of the debtor in the presence at person on behalf of whom this application, opportunities to meet requirements of creditors in full, then person on behalf of whom the application is submitted is submitted is submitted to economic court, bears responsibility for the actual damage caused by this action before creditors.

If economic insolvency (bankruptcy) of the debtor - the legal entity is caused by the owner of its property, founders (participants) or other persons, including the debtor's head having the right to give instructions, obligatory for the debtor, or having opportunity otherwise to determine its actions, then such persons in case of insufficiency of property of the debtor for settling with creditors solidary bear subsidiary responsibility according to obligations of the debtor.

In case of not submission of the statement of the debtor by the debtor in the cases and term established by parts two and the sixth article 9 of this Law the debtor's head, the chairman of liquidation commission (liquidator) and (or) others persons, guilty of it, authorized according to constituent documents, agreements or the legislation to manage the debtor - the legal entity, including to make the decision on filing of application of the debtor, solidary bear subsidiary responsibility according to obligations of the debtor.

Claims for attraction to subsidiary responsibility of persons specified in parts two and third this Article are shown after opening of liquidating production in economic court in case of detection of insufficiency of property of the debtor for satisfaction of requirements of creditors. During consideration of the case about economic insolvency (bankruptcy) such claims are submitted to the economic court considering this case.

Claims of the managing director for attraction to subsidiary responsibility are made on the amount of unsatisfied requirements of creditors and are considered by economic court before removal of determination about completion of liquidating production.

The creditor (creditors) or his legal successors, state bodies, the prosecutor, monitoring bodies has the right to make claims for attraction to subsidiary responsibility in the cases specified in part two of this Article within ten years from the moment of initiation of proceeedings about economic insolvency (bankruptcy) in the economic court considering this case.

Subsidiary responsibility is conferred on persons specified in part two of this Article, and in cases of the termination of the property right to property of the debtor, disposal from the list of participants (founders) of the debtor, the termination of employment relationships with the debtor and also the terminations of the right to give instructions, obligatory for the debtor, or to otherwise determine its actions during the term provided by part six of this Article.

Article 12. The bases for filing of application of the creditor about recognition of the debtor by economically insolvent (bankrupt)

The right to filing of application of the creditor about recognition of the debtor by economically insolvent (bankrupt) (further - the statement of the creditor) creditors have (except for physical persons before which the debtor bears responsibility for damnification of their life or to health or on compensation of the moral harm connected with damnification of their life or to health and physical persons to whom the debtor shall perform dismissal wage payment, remunerations under civil agreements which subject are performance of works, rendering services or creation of intellectual property items, and amounts on introduction (collection) of wages payable, and also founders (participants) of the debtor - the legal entity, before which the debtor bears responsibility according to the obligations following from such participation), the employee representative of the debtor - according to the obligations following from the employment and related relationships.

Provisions of this Law on creditors are applied to tax and other state bodies. At the same time tax and other state bodies submit to economic court the application for economic insolvency (bankruptcy) of the city-forming or equated to them organizations, the state organizations, legal entities, shares (share in authorized fund) of which are in management of state bodies or in economic maintaining, operational management of the state legal entities the, and also legal entities or individual entrepreneurs having the state and (or) international orders only in case of acceptance by the debtor, owner of property of the unitary enterprise, founders (participants) of the legal entity, state bodies of the decision on inexpediency of carrying out pre-judicial improvement.

The bases for filing of application of the creditor if other is not established by this Law, are in total:

availability at the creditor of the authentic, documentary confirmed data on the insolvency of the debtor having or acquiring steady nature;

application to the debtor of the forced execution which is not made within three months or identification in the course of forced execution of the fact of absence at the debtor of the property sufficient for satisfaction of requirements imposed to it;

availability of debt to the creditor who submitted the application of the creditor in the amount of hundred and more basic sizes and if the debtor is the city-forming or equated to it organization, the state organization, the legal entity, shares (share in authorized fund) of which are in management of state bodies or economic maintaining, operational management of the state legal entities, and also the legal entity or the individual entrepreneur having the state and (or) international orders - in the amount of two thousand five hundred and more basic sizes.

Article 13. Procedures of economic insolvency (bankruptcy)

When considering the case about economic insolvency (bankruptcy) of the debtor - the legal entity the following procedures of economic insolvency (bankruptcy) are applied:

protective period;

bankruptcy proceedings;

voluntary settlement.

When considering the case about economic insolvency (bankruptcy) of the debtor - the individual entrepreneur the following procedures of economic insolvency (bankruptcy) can be applied:

the protective period - in case of need completion of pre-judicial improvement if it is not complete before initiation of proceeedings about economic insolvency (bankruptcy);

bankruptcy proceedings;

voluntary settlement.

Bankruptcy proceedings include the following procedures: completion of preparation of case for legal proceedings; sanitation;

liquidating production.

Article 14. State body on cases on economic insolvency (bankruptcy)

State body on cases on economic insolvency (bankruptcy) within the competence:

pursues state policy according to the prevention of economic insolvency (bankruptcy), and also provides conditions for implementation of procedures of economic insolvency (bankruptcy);

takes part in the organization of system of preparation, advanced training and retraining of personnel for providing procedures of economic insolvency (bankruptcy);

approves the programs of preparation, advanced training and retraining of managing directors developed in accordance with the established procedure;

establishes procedure for determination of availability (absence) for signs of false economic insolvency (bankruptcy), deliberate economic insolvency (bankruptcy), concealment of economic insolvency (bankruptcy) or preventing to indemnification to the creditor, and also preparation of expert opinions on these questions;

establishes the vocational requirements imposed to managing directors;

carries out in accordance with the established procedure certification of physical persons on their compliance to the vocational requirements imposed to the managing director, using results of psychophysiological testing in case of determination of their professional suitability;

exercises control of observance by managing directors of requirements of the legislation on economic insolvency (bankruptcy) directly or through the territorial authorities formed by it;

records and carries out solvency analysis of the state organizations;

brings into economic court pre-trial detention about solvency of debtors - the state organizations or in other cases based on request of economic court;

performs monitoring of activities of managing directors, including monthly analyzes and generalizes information provided by managing directors according to the paragraph to the seventeenth to part one of article 77 of this Law;

represents on requests of state bodies of the conclusion on candidates for the managing directors appointed concerning city-forming or the organizations equated to them, the state organizations, and also the legal entities and individual entrepreneurs having the state and (or) international orders;

has the right to give to economic court in protection of state interests of the statement for economic insolvency (bankruptcy) of the city-forming or equated to them organizations, the state organizations;

has the right to declare in economic court of the petition for suspension for the term established by the paragraph the fourth parts three of article 121 of this Law, realization of property, part of property of debtors - the legal entities and individual entrepreneurs having the state and (or) international orders for development of offers on recovery of solvency of these debtors;

accepts (publishes) regulatory legal acts within the competence;

performs other functions provided to it by this Law and other acts of the legislation.

State bodies, other legal entities and individual entrepreneurs shall at the request of state body on cases on economic insolvency (bankruptcy) gratuitously submit the documents and other information necessary for implementation by this body of its functions provided by this Law and other acts of the legislation taking into account requirements of the legal acts determining procedure and conditions of submission of documents and other information.

The state body on cases on economic insolvency (bankruptcy) will form according to the procedure, established by the legislation, territorial authorities which powers are established by the legislation.

Article 15. Preparation, advanced training and retraining of personnel for providing procedures of economic insolvency (bankruptcy)

State bodies and other state organizations assist creation and development of system of preparation, advanced training and retraining of personnel for providing procedures of economic insolvency (bankruptcy) in type:

preparation, advanced training and retraining of personnel in accordance with the established procedure through network of organizations of education and implementation of the international programs and projects on experience exchange in this sphere;

holding the training thematic seminars, rates, conferences on questions of economic insolvency (bankruptcy).

Article 16. Commissions on the prevention of economic insolvency (bankruptcy)

Under state bodies the commissions on the prevention of economic insolvency (bankruptcy) are created and are effective (further - the commission) for the purpose of:

developments and entering into state body of offers on taking measures to pre-judicial improvement (along with persons who according to this Law and other acts of the legislation on economic insolvency (bankruptcy) shall take measures for the prevention of economic insolvency (bankruptcy));

matching, the organization of preparation (along with state body on cases on economic insolvency (bankruptcy)), and also accreditations of persons on implementation of activities of the managing director in proceeedings about economic insolvency (bankruptcy) in the case provided by part seven of article 62 of this Law;

preparation of project proposals of voluntary settlements, plans of completion of pre-judicial improvement in the protective period or plans of sanitation and liquidation plans of debtors - legal entities, the termination of activities of debtors - individual entrepreneurs;

carrying out efficiency analysis of pre-judicial improvement, accomplishment of plans of sanitation and liquidation plans of legal entities, terminations of activities of individual entrepreneurs and preparation of offers on results of carrying out this analysis.

Offers of the commission on the questions specified in part one of this Article are considered by state body then it no later than fifteen days from the date of carrying out commission session on which offers were developed passes the relevant decision.

The commissions are included the representatives of state bodies, state body on cases on economic insolvency (bankruptcy), other organizations having the highest legal and (or) economic education is preferential. For taking measures to the prevention of economic insolvency (bankruptcy) of the commission also the owner of property of the unitary enterprise, founders (participants) of legal entities or their representatives, individual entrepreneurs on whom the decision on carrying out pre-judicial improvement is made are included.

Persons having criminal record cannot be members of the commission. The candidacies presented to inclusion in structure of the commission are subject to obligatory check by law enforcement and other agencies according to the legislation.

Financing of ensuring activities of the commission is performed within the means provided on content of state bodies.

Article 17. Measures for the prevention of economic insolvency (bankruptcy)

Heads of the organizations, the owner of property of the unitary enterprise, founders (participants) of the legal entity, individual entrepreneurs, state bodies within the competence shall take timely measures for the prevention of economic insolvency (bankruptcy).

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