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Regional executive committees and the Minsk City Executive Committee will be able to introduce external administration in commercial organizations owned by foreign owners until the end of 2028. Law No. 108-Z of December 8, “On Amendments to the Law of the Republic of Belarus ‘On Issues of Transfer to Temporary External Administration,’” was published today on the National Legal Internet Portal.
The law, initially adopted at the end of 2022, was set to remain in force until the end of 2025. Its validity has now been extended by three years. Under the law, regional executive committees and the Minsk City Executive Committee are authorized to introduce external administration in legal entities owned by foreign owners if the management of the organization has effectively ceased, or if its governing bodies are taking actions that could lead to an effective cessation of operations, as well as in other cases established by the Council of Ministers.
In addition to extending the law’s duration, other amendments have been introduced. In particular, the Council of Ministers has been granted the authority to determine which state bodies are required to provide executive committees with information for analyzing the activities of commercial organizations. Executive committees, in turn, are permitted to obtain such information, including state secrets, official information with restricted dissemination, commercial secrets, and other confidential information.
The revised version also уточняет that temporary external administration is not introduced only with respect to organizations being liquidated by decisions of courts or registration authorities. If an organization is undergoing liquidation not based on such decisions, the liquidation will be canceled upon the introduction of external administration.