30.04.2008, 18:51 5972

Majilis approved bill on amendments and additions to bankruptcy acts

Today at the plenary session Majilis deputies approved in the second reading the bill on amendments and additions to bankruptcy acts, the agency reports.

Astana. April 30. Kazakhstan Today - Today at the plenary session Majilis deputies approved in the second reading the bill on amendments and additions to bankruptcy acts, the agency reports.

"During preparation for the second reading the working group received more than 200 proposals, 137 from which were accepted, 7 have not been accepted, other amendments have been rejected by the initiators during discussion," the conclusion of Majilis Committee for Finance and Budget states.

As it was informed earlier, "the bill provides mechanisms of financial and economic improvement of insolvent organizations by involving them in rehabilitation procedures. The bill stipulates a number of stimuli for both creditors and debtors, such as increase of the period of rehabilitation for enterprises having strategic value, simplicity of order of submission of documents to apply for rehabilitation procedure.

The bill provides strengthening responsibility of chairmen, proprietors of property of the organizations-bankrupts and individual businessmen for deliberate and false bankruptcy.

The bill has been forwarded to the Senate.

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