Фото: Unsplash.com
The Belarusian Council of Ministers, by Resolution No. 25 of January 16, has approved the Regulations on the Procedure for Transferring Commercial Organizations to Temporary External Management. The document was published today on the National Legal Internet Portal. It enters into force upon publication, applies to relations that arose from January 1, and will remain in effect until December 31, 2028. The resolution was adopted as part of the implementation of the law “On Amendments to the Law of the Republic of Belarus ‘On Issues of Transfer to Temporary External Management’.”
As a reminder, the law establishes that temporary external management may be introduced with respect to organizations owned by proprietors from so-called unfriendly countries. In accordance with the regulations, regional executive committees and the Minsk City Executive Committee must form registers of organizations whose property owners or shareholders are persons from foreign states committing unfriendly actions. Organizations will be included in the registers based on thresholds for average staff numbers and sales revenue determined by the executive committees. The executive committees must conduct monthly analyses of the organizations’ operations.
A commercial organization may be transferred to external management if its governing bodies or owner have in fact ceased to participate in managing the organization’s activities, or are carrying out economically unjustified actions that could lead to the actual cessation of its operations, liquidation and/or bankruptcy, or cause damage to the commercial organization.
Where grounds exist, temporary external management may be introduced with respect to commercial organizations both included in the registers and not included in them.
External management in organizations is introduced by a decision of the executive committees in coordination with the prime minister or his first deputy.