Amednments to the Commercial Register Act

An amendment to the Commercial Register Act entering into force on the 1.1.2012 has been promulgated in State Gazette 34 from 29.04.2011. Problematic is the envisaged limitation of the access to the file of the merchant (containing the documents on which all registrations are based), which will be possible only after an identification procedure has been carried out, subject to further specifications in a regulation of the Council of Ministers. Positive changes are the reduced fee for electronic submission of applications, as well as the envisaged procedure for instructions for supplementation of inaccurate applications, rather than a direct rejection of the application.