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Laws

LAW FOR THE MEASURES AGAINST MONEY LAUNDERING

2 March 2010
This publication was made possible thanks to
the kind support of Ciela Soft And Publishing

The text is part from CIELA Law System and represents an intellectual property of Ciela Soft And  Publishing


Chapter one.
GENERAL PROVISIONS
Art. 1. (amend. – SG 54/06) With this law shall be determined the preventive measures against using the financial system for the purposes of money laundering as well as the organization and the control for their execution.

Art. 2. (amend. – SG 54/06) (1) Money laundering in the sense of this law shall be:
1. transformation or transfer of possessions acquired through criminal activities or from an act of participation in such activity, in order to hide or cover the illegal origin of the possessions or in order to assist a person, participating in perpetration of such activity in order to avoid legal consequences of his/her act.
2. hiding or covering of the essence, of the source, the location, the disposition, the movement or the rights with regard to the possession, acquired through a crime or an act of participation in such activity.
3. acquisition, possession, keeping or use of possessions with the knowledge at the moment of receiving that they have been acquired through a crime or from an act of participation in such activity.
4. participation in any of the actions under item 1 – 3, association with the purpose of perpetration of such an act, trial to perpetrate such an act, as well as assisting, instigation, facilitation of perpetration of such an activity or its covering;
(2) Money laundering shall be considered also when the activity, through which the possessions under par. 1 has been acquired, has been carried out in a Member State of the European Union or in another country and does not come under the jurisdiction of the Republic of Bulgaria.

Art. 3. (1) (amend. – SG 54/06) The measures for prevention of using the financial system for the purposes of money laundering shall be:
1. identification of clients and verification of their identification;
2. identification of the real owner of the client – legal person, and undertaking of relevant measures for verification of his/her identification in a way, giving enough reasons to the person under par. 2 and 3 to accept the real owner as determined.
3. collecting information from the client about the purpose and the nature of the relationship, already established or to be established with him/her.
4. current monitoring of established commercial or professional relations and inspection of transactions and operations, being carried out within the frame of these relationships, to which extend they correspond to the available information about the client, about his/her commercial activity and risk profile, including finding out the origin of the funds in cases provided by the law;
5. disclosure of information about suspicious operations, transactions and clients.
(2) The measures of para 1 shall be obligatory for:
1. (amend., SG 1/01, amend. SG 31/03; amend. – SG 59/06, in force from the Treaty of Accession of the Republic of Bulgaria to the European Union enters in force; amend. - SG 16/08; amend. – SG 23/09, in force from 01.11.2009) The Bulgarian National Bank, credit institutions, carrying out activity on the territory of the Republic of Bulgaria, financial houses, the exchange offices and the other providers of payment services;
2. (suppl. SG 31/03; amend. - SG 103/05, in force from 01.01.2006; amend. – SG 54/06) insurers, re-insurers and insurance intermediaries with a seat in the Republic of Bulgaria; insurers, re-insurers and insurance intermediaries from a Member State of the European Union, or from a state – party to the Agreement on the European Economic Space, who perform activity on the territory of the Republic of Bulgaria; insurers with a seat in states, different from the enlisted and received license from the Commission for financial supervision to perform activity in the Republic of Bulgaria through a branch, insurance intermediaries with a seat in countries, different from the indicated, entered into the register of the Financial Supervision Commission;
3. (amend., SG 1/01; amend. – SG 54/06) collective investment schemes, investment brokers and managing companies;
4. (new, SG 1/01; amend. – SG 54/06; suppl. – SG 92/07) pension insurance companies and health insurance companies;
5. (prev. item 4 - SG 1/01) Bodies for privatisation;
6. (prev. item 5 - SG 1/01) Persons organising assignment of public orders;
7. (prev.item 6 - SG 1/01) Persons organising and conducting gambling games;
8. (prev. item 7 - SG 1/01) Corporate bodies where there are mutual support savings;
9. (prev. item 8 - SG 1/01) Persons conceding money loan against pawning of chattels;
10. (prev. item 9 - SG 1/01) Post services accepting or receiving money or other valuables;
11. (prev. item 10 - SG 1/01) Notaries;
12. (prev. item 11 - SG 1/01, amend. SG 31/03; amend. - SG 52/07, in force from 01.11. 2007) market operator and/or regulated market;
13. (prev. item 12 - SG 1/01) Leasing enterprises;
14. (prev. item 13 - amend., SG 1/01) state and municipal bodies concluding concession contracts;
15. (prev. item 14 - SG 1/01) Political parties;
16. (prev. item 15 - amend., SG 1/01 Trade unions and professional organisations;
17. (prev. item 16 - amend., SG 1/01) Corporate non-profit bodies;
18. (prev. item 17 - amend., SG 1/01; amend. – SG 67/08) registered auditors;
19. (prev. item 18 - SG 1/01; amend. - SG 105/05, in force from 01.01.2006) the bodies of the National Revenue Agency;
20. (prev. item 19 - amend., SG 1/01) customs bodies.
21. (new, SG 1/01, suppl. SG 31/03) entrepreneurs selling automobiles by profession when the payment is implemented in cash and the value is over 30 000 levs or the equivalent in foreign currency;
22. (new, SG 1/01) transport organisations;
23. (new, SG 1/01) the central Depository;
24. (new, SG 1/01, amend. G 31/03; amend. – SG 92/07) persons who, by profession, carry out transactions with goods, in case of cash payment and its value amounts to over 30 000 BGN or the equivalent in foreign currency;
25. (new, SG 1/01) traders of weapons, petrol and petrol products;
26. (new, SG 1/01, amend. SG 31/03) persons, who as profession implement consultations in the field of tax levying;
27. (new, SG 1/01) wholesale traders;
28. (new – SG 31/03) persons, who as profession implement legal consultations, when:
a) they participate in the planning or the fulfilment of operation or transaction of their client for:
aa) purchase and sale of immovable property or transfer of enterprise to trader;
bb) management of money, securities or other financial assets;
cc) opening or disposing with bank account or account for securities;
dd) providing of resources for establishing of trader, increase of the capital of a commercial company, conceding of loan or any other form of providing of resources for accomplishing the activity of the trader;
ee) (suppl. – SG 54/06) establishing, organising of the activity or management of a trader or of another legal person, offshore company, company, conceded to fiduciary management or other similar structure;
ff) (new – SG 54/06) trust management of property;
b) act for the account or in the name of their client in whatever financial operation or transaction with immovable property;
29. (new – SG 31/03) persons, who implement by profession mediation in transactions with immovable properties.
30. (new – SG 54/06) persons, who by profession provide:
a) address of management, mailing address or an office for registration purposes of a legal person;
b) service related to registration of a legal person, offshore company, trust management company or any other similar structure;
c) services of trust management of property or of a person under item "b".
(3) The measures of para 1 shall be also obligatory for the persons of para 2 and when they are announced insolvent and in liquidation.
(4) (suppl. SG 31/03) The measures of para 1 shall be also implemented for the branches of the persons of para 2 and 3 registered abroad, as well as to the branches of foreign persons, registered in the country, being within the circle pointed out in para 2 and 3.
(5) (revoked – SG 54/06)
(6) (new – SG 31/03; amend. – SG 54/06) The persons of para 2, item 28 shall not be obliged to advise as per the procedure of this law the information, made available to them in or with regard to participation in court or pre-court proceedings, which is pending, is to be initiated or has been closed, as well as information, related to determination of the legal status of a client.
(7) (new – SG 54/06) Measures under par. 1 shall be obligatory for persons of par. 2, item 24 and in the cases of implementation of more than one operation or transaction, which one individually does not exceed 30 000 BGN or the equivalent of this amount in foreign currency, but from the circumstances of their performance it can be supposed, that the operations or the transactions are related.

Art. 3a. (new – SG 31/03) (1) (amend. – SG 109/07, in force from 01.01.2008) The bodies for supervision over the persons of art. 3, para 2 and 3, shall be obliged to concede information to Directorate "Financial intelligence" of State Agency "National Security", if at implementing their supervision activity they establish operations or transactions, connected with doubt about money laundering or non fulfilment of the obligation of art. 11a.
(2) (amend. – SG 109/07, in force from 01.01.2008) In the checks, implemented by the bodies of para 1, shall be included also check of the fulfilment of the requirements of this law by the checked persons. At finding of breach the supervision bodies shall inform Directorate "Financial intelligence" of State Agency "National Security" by sending excerpt from the fact finding act in the respective part.
(3) (new – SG 54/06; amend. – SG 109/07, in force from 01.01.2008) Directorate "Financial intelligence" of State Agency "National Security" and monitoring bodies can exchange classified information for the purposes of the implemented by them established by law functions.

Art. 3b. (new – SG 54/06) (1) It is prohibited to banks, established on the territory of the Republic of Bulgaria, and to foreign banks, carrying out business on the territory of the country through a branch, to enter into correspondent (bank) relationships with banks in jurisdictions, in which they do not have physical presence and do not belong to a regulated financial group.
(2) Banks, established on the territory of the Republic of Bulgaria and the foreign banks, carrying out business on the territory of the country through a branch, cannot establish correspondent relationships with banks outside the country, allowing their accounts to be used by banks in jurisdictions, in which they do not have physical presence and do not belong to a regulated financial group.

Art. 3c. (new – SG 54/06) (1) Persons under Art. 3, par. 2 and 3 shall be obliged to provide the implementation of the measured under this Law and of the legal acts related to its application by its branches and subsidiaries, in which they have a majority of the shares, abroad to the extend, allowed by the respective foreign legislation.
(2) (suppl. – SG 92/07; amend. – SG 109/07, in force from 01.01.2008) Provided that the legislation of the foreign country does not allow or restricts the application of measures under par. 1, the persons of Art. 3, par. 2 and 3 shall be obliged to advise Directorate "Financial intelligence" of State Agency "National Security" and the respective monitoring body, as well as to undertake further measures according to the relevant risk, these measures being determined by the Regulations for Implementation of the Law.
(3) (amend. – SG 109/07, in force from 01.01.2008) The branches and subsidiaries, in which persons of Art. 3, par. 2 and 3 have majority participation abroad, shall not have the obligation to notify Directorate "Financial intelligence" of State Agency "National Security" under Art. 11 and 11a.

Chapter two.
IDENTIFICATION OF CLIENTS, COLLECTING, PRESERVATION AND REVEALING OF INFORMATION
Section I.
Identification of clients
Art. 4. (amend. SG 31/03; amend. – SG 54/06) (1) The persons of art. 3, para 2 and 3 shall be obliged to identify their clients at establishing trade or professional relations, including at opening of a bank account as well as at implementing of operation or concluding a transaction for an amount exceeding 30 000 levs or the equivalent in foreign currency, and the persons of art. 3, para 2, item 1 – 4, 9 – 11, 13 and 28 also at implementing of an operation or at concluding transaction in cash with value exceeding 10 000 levs or the equivalent in foreign currency. No opening or maintaining of anonymous account or of an account under fictitious name shall be allowed.
(2) Para 1 shall also be implemented in the cases when more than one operation or transaction are being implemented, which separately do not exceed 30 000 levs or the equivalent in foreign currency, respectively 10 000 levs or the equivalent in foreign currency, but there are data that the operations or the transactions are connected.
(3) (suppl. – SG 54/06) The persons of art. 3, para 2, item 7 shall be obliged to identify their clients by the order of art. 6 at the entering in the register of art. 72, para 2 of the Law of gambling, as well as in case of carrying out of an operation of concluding a transaction in the amount exceeding 6 000 levs or the equivalent in foreign currency.
(4) (amend. – SG 54/06; amend. – SG 109/07, in force from 01.01.2008) In cases when the person under Art. 3, par. 2 and 3 is not able to carry out identification of a client according to the requirements of this law and the acts related to its application, as well as in case of non presenting of declaration under para 7 he/she shall be obliged to reject to execute the operation or the transaction or to establish commercial or professional relations, including to open an account. Provided that the person under Art. 3, par. 2 and 3 is not able to carry out identification of the client in cases of already established commercial or professional relations, he/she shall be obliged to terminate these relations. In these cases the person under Art. 3, par. 2 and 3 shall judge whether to advise Directorate "Financial intelligence" of State Agency "National Security" pursuant to the procedure of Art. 11. These provision shall not be applied with regard to persons of Art. 3, par. 2, item 28 under the conditions of Art. 3, par. 6.
(5) (amend. – SG 54/06) In case of establishment of commercial or professional relations or implementation of operation or transaction through electronic statement, electronic document or electronic signature, or other form without the presence of the client the persons of art. 3, para 2 and 3 shall be obliged to undertake appropriate measures for certifying of the authenticity of the identifying data of the client. Such measures can be check of the presented documents, requirement or additional documents, confirmation of the identification by another person of art. 3, para 2 and 3 or by a person, obliged to apply measures against money laundering in a Member State of the European Union, or establishing of requirement the first payment for the operation or the transaction to be implemented through an account, opened in the name of the client in a Bulgarian bank, branch of foreign bank, received permission (license) by the Bulgarian National Bank to implement activity in the country through a branch or in a bank from a Member State of the European Union.
(6) The measures of para 5 shall be included in the internal rules of art. 16..
(7) The persons, implementing operation or transaction through or with a person of art. 3, para 2 and 3 with value over 30 000 levs or the equivalent in foreign currency, respectively over 10 000 levs or the equivalent in foreign currency, when the payment is in cash, shall be obliged to declare the origin of the resources. The persons of art. 3, para 2 and 3 shall be obliged to require the declaration before the implementing of the respective operation or transaction.
(8) The form of the declaration of para 7 and of art. 6, para 5, item 3, the conditions and the order for exemption from obligation for declaring shall be provided with the regulation for implementation of the law.
(9) (amend. – SG 92/07) A person as per Art. 3, para 2 and 3 shall not carry out identification under Art. 3, para 1 and shall not require declaration under para 7 to be submitted by a client of his/hers who is a credit institution of the Republic of Bulgaria, of another Member State, or a bank from a third country, included in a list, approved with joint order by the Minister of Finance and the governor of the Bulgarian National Bank.
(10) In the list of para 9 shall be included countries, which legislation contains requirements, complying with the requirements of this law. The list shall be promulgated in State Gazette.
(11) (amend. – SG 54/06) In the cases, when due to the character of the operation or the transaction its value cannot be determined by the moment of its implementation, the person of art. 3, para 2 and 3 shall be obliged to identify the client at the moment when the value of the operation or the transaction is determined, if it is over 30 000 levs or the equivalent in foreign currency, respectively over 10 000 levs or the equivalent in foreign currency when the payment is implemented I cash. This case shall not exclude the obligation for identification at establishing or trade or professional relations.
(12) (amend. - SG 103/05, in force from 01.01.2006) The persons of art. 3, para 2, item 2 shall identification their clients at concluding of insurance contract according to section I of appendix No 1 of Insurance Code, when the gross amount or the periodical premiums or payments for the insurance contract for one year is 2000 levs or more, or the premium or the payment for the insurance contract is onetime and is in amount 5000 levs or more.
(13) The persons of art. 3, para 2 and 3 shall be obliged to identify their clients also out of the cases o para 1 – 12, when doubt occurs for money laundering.
(14) (new – SG 54/06) Persons under Art. 3, par. 2 and 3 shall be obliged to identify and verify the identification of their clients, whenever there is a doubt about identification data of the client, or they are informed about any modification of them.
(15) (new – SG 54/06; amend. – SG 92/07) Verification of identification data of clients and of real owners shall be carried out prior to establishment of commercial or professional relations, opening of an account or implementation of an operation or a transaction under par. 1, 2 and 3. In the regulations on implementation of the Law, an exception from this rule can be provided.
(16) (new – SG 54/06) Persons under Art. 3, par. 2 and 3 can apply depending on the potential risk assessment simplified or comprehensive measures under Art. 3, par. 1 under the conditions and following a procedure, set out in the regulations on implementation of the Law.
(17) (new – SG 92/07) Identification as per Art. 3, para 1 shall not be carried out and declaration under Art. 7 shall not be submitted, in case the client is a state authority of the Republic of Bulgaria.
(18) (new – SG 92/07) ) Identification under para 1 shall not be carried out and declaration under Art. 7 shall not be submitted, in case the client is an institution, performing authority functions in accordance with the European Union law under the following conditions:
1. the person referred to in Art. 3, para 2 and 3has collected sufficient information that does not arouse suspicion of the institution's identity;
2. the institution observes accounting procedures and its activity is transparent;
3. the institution reports to a Community authority, a body of a Member State or there are inspection procedures, guarantying supervision of their activity.
(19) (new – SG 92/07) In case the bank account of a person referred to in Art. 3, para 2, item 11 and 28 from the Republic of Bulgaria, from another Member State or from a state, included in the list under para 9, is being used for depositing sums of a client of the person referred to in Art. 3, para 2, item 11 and 28, the bank shall not carry out identification as per Art. 3, para 1 of this client and shall not require declaration under Art. 7, on the condition that the identification has been carried out and the declaration is accepted by the notary or by the person as per Art. 3, para 2, item 28 and the information gathered during the identification is at disposal of the bank upon request. The bank shall collect sufficient information in order to establish whether the conditions for implementation of simplified measures have been observed.
(20) (new – SG 92/07) The persons under Art. 3, para 2 and 3 may not apply simplified measures as per Art. 3, para 1 with regards to persons from countries, which are included in the list as per Art. 7a, para 3.

Art. 5. (amend. SG 1/01) (1) (amend. – SG 54/06) Persons under Art. 3, par. 2 and 3 shall be obliged to find out whether the client is acting on his/her behalf and at his/her expenses or on behalf and at the expense of a third person. Provided that the operation or the transaction is carried out through a proxy, the persons under Art. 3, para 2 and 3 shall request evidences for the representative power and shall identify the proxy and the principal.
(2) (amend. – SG 54/06) If the operation or the transaction is being implemented on behalf of and at the expenses of a third person without an authorization, the persons under Art. 3, par. 2 and 3 shall identify the third person, on behalf of and at the expenses of whom the operation or the transaction has been carried out, and the person who has carried out the operation or transaction.
(3) (new – SG 31/03) Upon doubt that he person, implementing operation or transaction, does not act in his name and for his account, the persons of art. 3, para 2 and 3 shall be obliged to implement the notification of art. 11 and to undertake appropriate measures for collecting of information for identifying of the person, in which favour the operation or the transaction is really accomplished. The measures shall be determined with the regulation for implementation of the law.

Art. 5a. (new – SG 54/06, in force from 05.10.2006) (1) The persons under Art. 3, par. 2 and 3 shall be obliged to apply comprehensive measures with regard to clients, occupying or having occupied a high state position in the Republic of Bulgaria or in a foreign country, as well as with regard to clients, who are related to them persons.
(2) The Council of Ministers shall set the conditions and the procedure, under which par. 1 shall be applied.

Art. 5b. (new – SG 92/07) (1) When entering into correspondence with a credit institution from a third country, which is not in the list as per Art. 4, para 9, the credit institution referred to in Art. 3, para 2, item 1 shall be obliged to:
1. gather sufficient information about the credit institution-addressee, allowing it to realize completely the nature of its activity, as well as to define the reputation of the institution and its supervision quality on the basis of publicly accessible information;
2. assess the internal control mechanisms against money laundering and terrorist financing, applied by the credit institution-addressee;
3. create organization according to which the establishing of correspondence bank relations shall only be carried out following an advance approval by a person holding a managerial position at the credit institution;
4. allocate the responsibilities of each of the corresponding institutions in relation to the implementation of the measures against money laundering and terrorist financing, this allocation being substantiated by documents.
(2) In those cases referred to in para 1, where third parties – clients of the institution-addressee, the credit institution under in Art. 3, para 2, item 1 – also have access to the correspondent account of a credit institution, it must make sure that the institution-addressee carries out identification, check of the identification and current supervision of the third persons, who have direct access to its account, and that the institution-addressee is able to provide the identification data and the other information required about the said clients upon request.

Art. 5c. (new – SG 92/07) The persons referred to in Art. 3, paras 2 and 3 shall be obliged to apply comprehensive measures with regards to products or transactions which could lead to anonymity, under conditions and following a procedure, determined by the Regulations for Implementation of the Law.

Art. 6. (1) (amend. – SG 54/06) The identification of the clients and verification of their identification shall be implemented:
1. (amend., SG 1/01) for corporate bodies - presenting an official excerpt for the current status of the corresponding register and if the person is not subject to registration - of a certified copy of the establishing act and registration of the name, the headquarters, the address and the representative;
2. for individuals - presenting of official identification document and registration of its kind, issuer as well as the name, the address, the unified civil number, and for the individuals with the quality of sole entrepreneur - also presenting the documents of item 1.
(2) (new – SG 54/06) Persons under Art. 3, par. 2 and 3 shall identify natural persons, who are the real owners of a client – legal person, as well as they shall undertake actions for verification of their identification depending on the type of the client and the level of risk, resulting out of determination of customer relations and/or implementation of transactions or operations with such clients. Provided that there is not any other opportunity, identification can be carried out through a declaration, signed by the legal representative or the proxy of the legal person. The conditions and the procedure of releasing from the obligation for identification, as well as the form and the procedure of releasing from the obligation for identification, and the form and the procedure of submission of the declaration, shall be set out in the regulations in implementation of the Law.
(3) (new, SG 1/01, amend. SG 31/03) A copy of the documents of para 1, items 1 and 2 shall be made unless the data, contained in them, are reflected accurately in other documents, compiled by the person of art. 3, para 2 and 3, and shall be preserved under the conditions of art. 8.
(4) (new, SG 1/01) In the cases when a certain activity is subject to licensing, permit or registration the persons carrying out transactions and operations in connection with this activity shall present a copy of the respective license, permit or registration certificate.
(5) (prev. para 3 - SG 1/01, amend. SG 31/03) The persons of art. 3, para 2, items 1, 2, 3, 4, 5, 6, 7, 10,12, 14, 18, 19 and 20 shall establish a special services which shall:
1. collect, process, preserve and reveal information about the concrete operations or transactions;
2. collect evidence about the ownership of the possessions subject to transfer;
3. require data about the origin of the money resources or the valuables - subject of the operations or the transactions; the origin of these resources shall be established by a declaration;
4. collect information about their clients and maintain precise and detailed documentation about their operations with money resources or valuables;
5. (amend. SG 31/03; amend. – SG 109/07, in force from 01.01.2008) at suspicion for money laundering present the collected information under item 1, 2, 3 and 4 to Directorate "Financial intelligence" of State Agency "National Security" by the order of art. 11.
(6) (prev. para 4 - SG 1/01) The persons of art. 3, para 2, items 1, 2, 3, 4, 5, 6, 7, 10, 12, 14, 18, 19 and 20 shall fulfil personally their obligations when it is not possible to create specialised service.
(7) (prev. para 5 - SG 1/01, amend. SG 31/03) All persons of art. 3, para 2 and 3 shall implement their obligations of this law, regardless of whether they establish a specialised service.

Art. 6a. (new – SG 92/07) (1) Bulgarian National Bank, the credit institutions referred to in Art. 3, para 2, item 1, as well as the persons as per Art. 3, para 2, items 2, 3 and 4 may refer to preceding client identification, carried out by a credit institution under the following conditions:
1. the seat of business of the credit institution that has carried out identification is in the Republic of Bulgaria, in another Member state or in a country from the list as per Art. 4, para 9;
2. the information required pursuant to Art. 6, paras 1 to 4 shall be available to the person, referring to preceding identification, carried out by a credit institution;
3. upon request by the credit institution, which has carried out preceding identification, is able to provide immediately the person referring to the said identification with certified copies of the documents from the identification.
(2) The reference of preceding identification under para 1 shall not exempt the person doing it from liability for non-fulfillment of the requirements for the identification as per Art. 6, paras 1 to 4.

Section II.
Collecting of information
Art. 7. (1) When a suspicion for money laundering arouses the persons of art. 3, para 2 and 3 shall be obliged to collect information about the essential elements and amounts of the operation or the transaction, the corresponding documents and the other identification data.
(2) (amend. – SG 54/06; amend. – SG 109/07, in force from 01.01.2008) The collected for the purposes of this law information shall have to be documented and kept, so that it can be available to Directorate "Financial intelligence" of State Agency "National Security", to the respective monitoring bodies and to auditors.

Art. 7a. (new – SG 54/06, in force from 05.10.2006) (1) Persons under Art. 3, par. 2 and 3 shall be obliged to put under special supervision their commercial or professional relations, operations and transactions with persons from states, which do not apply or do not apply completely international standards in counteracting to money laundering.
(2) When the operation or the transaction under par. 1 does not have logic economic explanation or an obvious grounded reason, the persons under Art. 3, par. 2 and 3 shall collect, to the possible extend, further information about the circumstances, related to the operation or the transaction, as well as about its objective.
(3) (amend. – SG 92/07) States, which do not apply or apply to some extent international standards for counteracting to money laundering, shall be specified in a list, approved by the Minister of Finance in compliance with the decisions referred to in Art. 40, paragraph 4 of Directive 2005/60/ЕC of the European Parliament and the Council on the prevention of the use of the financial system for the purpose of money laundering and terrorist financing. Measures towards these states shall be set out in the regulations for law application.

Section III.
Preservation of the information
Art. 8. (amend., SG 1/01) In the cases of art. 4 to 7 the persons of art. 3, para 2 and 3 shall be obliged for a period of 5 years the data about the clients and the documents about the implemented transactions and operations. For the clients the term starts from the beginning of the calendar year following the year of termination of the relations, and for the transactions and operations - from the beginning of the calendar year following the year of their fulfilment.

Art. 9. (amend., SG 1/01, amend. SG 31/03; amend. – SG 109/07, in force from 01.01.2008) The data and the documents of art. 8 shall be conceded to Directorate "Financial intelligence" of State Agency "National Security", upon request, in original or officially certified copy. The order, the terms and the periodicity shall be determined by the regulations for implementation of the law.

Section IV.
Revealing of information
Art. 10. (amend. SG 31/03; revoked – SG 109/07, in force from 01.01.2008)

Art. 11. (1) (amend,. SG 1/01, amend. SG 31/03; amend. – SG 109/07, in force from 01.01.2008) For suspicion of money laundering the persons of art. 3, para 2 and 3 shall be obliged to immediately notify Directorate "Financial intelligence" of State Agency "National Security" before the implementation of the operation or the transaction, delaying its fulfilment within the admissible term according to the normative acts damaging the respective type of activity.
(2) (amend., SG 1/01, amend. SG 31/03; amend. – SG 109/07, in force from 01.01.2008) In the cases when the delay of the operation or transaction is objectively impossible the person of art. 3, para 2 and 3 shall notify Directorate "Financial intelligence" of State Agency "National Security" immediately after its fulfilment.
(3) (new, SG 1/01; amend. – SG 109/07, in force from 01.01.2008) The notification of the Directorate can also be carried out be employees of the persons under art. 3, para 2 and 3 who are not in charge of the implementation of the measures against money laundering. The Directorate shall keep the anonymity of these employees.
(4) (new – SG 54/06; amend. – SG 109/07, in force from 01.01.2008) Directorate "Financial intelligence" of State Agency "National Security" shall provide to the person under Art. 3, par. 2 and 3 and under Art. 3a information related to the implemented by him/her notification. The decision with regard to the scope of information, supposed to be provided as a feedback fro each specific case of notification, shall be taken by the Director of the Agency.

Art. 11a. (new – SG 31/03, in force from January 1, 2004) (1) (amend. – SG 109/07, in force from 01.01.2008) The persons of art. 3, para 2 and 3 shall notify Directorate "Financial intelligence" of State Agency "National Security" about each payment with value over 30 000 levs or the equivalent in foreign currency, implemented by or to their client.
(2) (amend. – SG 109/07, in force from 01.01.2008) Directorate "Financial intelligence" of State Agency "National Security" shall keep a register of the payments of para 1. The register can be used only for the purposes of counteraction to money laundering.
(3) (amend. – SG 22/09) The order and the terms for presenting, using, storing and destroying information of para 1 and it removal from the register under Para 2 shall be determined with the regulation for implementation of the Law.

Art. 11b (new – SG 31/03) (1) Agency "Customs" shall concede to the Agency for financial intelligence information about the commercial credits for import and export, the financial leasing between local and foreign persons and the import and export of levs and foreign currency in cash, collected under the conditions and by the order of the Currency law.
(2) The order for conceding of the information of para 1 shall be determined by the Minister of Finance.

Art. 11c. (new – SG 31/03; revoked – SG 109/07, in force from 01.01.2008)

Art. 12. (amend., SG 1/01) (1) (amend. SG 31/03; amend. – SG 54/06; amend. – SG 109/07, in force from 01.01.2008) In the cases of art. 11 and 18 the Minister of Finance, upon proposal of the Chairman of State Agency "National Security" shall be able to stop with a written order certain operation or transaction for a term of 3 working days from the day following the day of issuance of the order. If till the expiration of this term no preventive measure, distraint or prohibition are imposed the person of art. 3, para 2 and 3 shall be able to implement the operation or the transaction.
(2) (amend. SG 31/03; amend. – SG 109/07, in force from 01.01.2008) Directorate "Financial intelligence" of State Agency "National Security" shall immediately inform the prosecution for the stopping of the operation or transaction by presenting the necessary information, preserving the anonymity of the person under art. 3, para 2 and 3, who has made the notification under art. 11 or 18.
(3) The prosecutor can impose a preventive measure or extend a request before the respective court for imposing a distraint or prohibition. The court shall rule on the request not later than 24 hours from its receipt.
(4) (amend. and suppl. SG 31/03; amend. – SG 54/06; amend. – SG 109/07, in force from 01.01.2008; amend. – SG 36/08) When during the investigation and analysis of information, obtained under the conditions and pursuant to the procedure of this law, the suspicion in money laundering is not excluded, Directorate "Financial intelligence" of State Agency "National Security" shall disclose this information to the prosecution or to the respective security or public order office, whereas it shall keep the anonymity of the person under art. 3, para 2 and 3 and under Art. 3a and his/her employees, having made the notification under art. 11 or 18.

Art. 13. (amend., SG 1/01) (1) (amend. SG 31/03; amend. - SG 108/06, in force from 01.01.2007; amend. – SG 109/07, in force from 01.01.2008; amend. – SG 36/08) In case of notification under Art. 11 or 18 Directorate "Financial intelligence" of State Agency "National Security" can require from the Bulgarian National Bank, and credit institutions, carrying out activity in the territory of the Republic of Bulgaria information regarding doubtful operations, transactions or clients. The requested information shall be submitted within a period determined by the Agency.
(2) (amend. SG 31/03; amend. - SG 108/06, in force from 01.01.2007; amend. – SG 109/07, in force from 01.01.2008) In case of a written notification under Art. 11 or 18 by a person under Art. 3, para 2 and 3 Directorate "Financial intelligence" of State Agency "National Security" can request from the Bulgarian National Bank and credit institutions, carrying out activity in the territory of the Republic of Bulgaria information regarding doubtful operations, transactions or clients. The requested information shall be submitted within the period determined by the Agency.
(3) (amend. SG 31/03; amend. – SG 109/07, in force from 01.01.2008) State Agency "National Security" can request from the state and municipal bodies information under the conditions of para 1 which cannot be refused to it. The requested information shall be submitted within the period determined by the Directorate.
(4) (amend. – SG 109/07, in force from 01.01.2008) When determining the period under para 1 - 3 the Directorate shall consider the volume and the contents of the requested information.
(5) (amend. SG 31/03; amend. – SG 109/07, in force from 01.01.2008) For the needs of the analysis Directorate "Financial intelligence" of State Agency "National Security" shall receive from the Bulgarian National Bank information collected under the Currency Law.
(6) (amend. SG 31/03; revoked – SG 109/07, in force from 01.01.2008)
(7) (amend. – SG 109/07, in force from 01.01.2008) The submitting of information under para 1 - 5 cannot be refused or restricted for considerations of official, bank or trade secret.

Art. 14. (1) (amend., SG 1/01, suppl. SG 31/03; previous text of Art. 14 – SG 54/06; amend. – SG 109/07, in force from 01.01.2008) The persons of art. 3, para 2 and 3, the persons, who manage and represent them as well as their employees shall not be able to notify their client or third persons about the revealing of information in the cases of art. 9, 11, 11a, 13 and 18.
(2) (new – SG 54/06) The prohibition for disclosure of information under par. 1 shall not apply to the respective monitoring body of Art. 3a.
(3) (new – SG 92/07) The prohibition as per para 1 shall not impede the disclosure of information between the persons who belong to the same group in a Member State or in a country included in the list as per Art. 4, para 9.
(4) (new – SG 92/07) The prohibition as per para 1 shall not impede the disclosure of information between the persons referred to in Art. 3, para 2, items 11, 18 and 28 by Member States or by countries, included in the list as per Art. 4, para 9, carrying out their professional activity in the frames of one legal entity or group, which have mutual ownership, management or control with regards to the implementation of the Law.
(5) (new – SG 92/07) The prohibition as per para 1 shall not impede the disclosure of information between the persons referred to in Art. 3, para 2, items 1 to 3, 11, 18 and 28 in the cases referring to one and the same client or the same transaction, in which take part two or more persons, under the following conditions:
1. the persons are situated in a Member State or in a country included in the list as per Art. 4, para 9;
2. the persons are of one and the same professional category;
3. the persons are subject to liabilities for keeping official, bank or commercial secret and for protection of personal information according to the Bulgarian legislation;
4. the information may only be used for the purposes of prevention of money laundering and terrorist financing.
(6) (new – SG 92/07) In case the persons referred to in Art. 3, para 2, items 11, 18 and 28 are trying to dissuade a client from engaging in illegal activity, this shall not be regarded as disclosure of information within the meaning of para 1.
(7) (new – SG 92/07) The exemptions referred to in paras 3 to 5 shall not apply and disclosure of information shall not be admitted between the persons under Art. 3, para 2 and 3 and persons from countries included in the list as per Art. 7a, para 3, as well as in case the persons referred to in Art. 3, para 2 and 3 have not fulfilled their obligations pursuant to the Law for Protection of the Personal Data.

Art. 15. (1) (suppl., SG 1/01, suppl. SG 31/03; previous text of Art. 15 – SG 54/06; amend. – SG 109/07, in force from 01.01.2008) The revealing of information in the cases of art. 9, 11, 11a, 13 and 18 shall not create responsibility for breaching other laws or contract.
(2) (new – SG 54/06) Under the conditions of par. 1 no responsibility shall arise in cases, in which it is determined, that no crime has been committed, and the operations and the transactions have been lawful.

Section V.
Protection of the information (new – SG 1/01)
Art. 15a. (new – SG 1/01) (1) (amend. and suppl. SG 31/03; amend. – SG 109/07, in force from 01.01.2008) Directorate "Financial intelligence" of State Agency "National Security" can use the information constituting official, bank or trade secret, as well as the protected personal information obtained under the conditions and by the order of art. 9, 11, 11a, 13, 17 and 18 only for the purposes of this law.
(2) (amend. SG 31/03; amend. – SG 109/07, in force from 01.01.2008) The employees of Directorate "Financial intelligence" of State Agency "National Security" cannot import, use for personal or related persons' benefit information and facts constituting official, bank or trade secret having become known to them in fulfilment of their official duties.
(3) (amend. SG 31/03; amend. – SG 109/07, in force from 01.01.2008) The employees of the Directorate shall sign declaration for preserving the secret under para 2.
(4) (amend. SG 31/03; amend. – SG 109/07, in force from 01.01.2008) The provision of para 2 shall also regard the cases when the appointed persons are not on duty.

Chapter three.
INTERNAL ORGANISATION AND CONTROL
Art. 16. (1) (amend., SG 1/01, amend. SG 31/03; amend. – SG 109/07, in force from 01.01.2008) The persons of art. 3, para 2 and 3 shall in 4 months term after their registration shall approve internal rules for control and prevention of money laundering which shall be approved by the Chairman of State Agency "National Security".
(2) (suppl. – SG 54/06) The internal rules of para 1 shall ascertain clear criteria for detection of suspicious operations or transactions and clients, the order for training of the staff and the use of the technical means for prevention and revealing of money laundering, as well as a system of internal control over the implementation of the measures set out in this law.
(3) (new, SG 1/01, amend. SG 31/03; amend. – SG 109/07, in force from 01.01.2008) The internal rules under para 1 shall be sent to the Chairman of State Agency "National Security" for approval within 14 days from their adoption.
(4) (new – SG 31/03; amend. – SG 109/07, in force from 01.01.2008) The professional organisations and associations of the persons of art. 3, para 2 and 3, in co-ordination with State Agency "National Security", can approve unified internal rules for control and prevention of money laundering, to which the members of these organisations and associations can join in the term of para 1 with a declaration. The unified internal rules and the declarations shall be sent to State Agency "National Security" in the term of para 3.

Art. 17. (1) (suppl. - SG 1/01, amend. SG 31/03; amend. – SG 109/07, in force from 01.01.2008; prev. Art. 17 – SG 36/08) The control over the implementation of the law shall be exercised by the Minister of Finance and the Chairman of State Agency "National Security".
(2) (new – SG 36/08) For implementation of their functions under the law the bodies of the Ministry of Finance and of the State Agency "National Security" shall cooperate following a procedure, set by a mutual instruction of the Minister of Finance and the Chairman of the Agency.
(3) (new – SG 93/09, in force from 25.12.2009) Control bodies of "Financial Intelligence" Directorate of the State Agency "National Security" shall carry out site inspections of the persons of Art. 3, par. 2 and 3 for implementation of prevention measures against using the financial system for the purposes of money laundering, and also in case of suspected money laundering.
(4) (new – SG 93/09, in force from 25.12.2009) Control bodies of "Financial Intelligence" Directorate of the State Agency "National Security" shall be the officials from the directorate staff nominated by the Chairman of the State Agency "National Security".
(5) (new – SG 93/09, in force from 25.12.2009) The inspections under par. 1 may be carried out in cooperation with the bodies, to which execution of control over the persons under Art. 3, par. 2 and 3 is assigned by a special law.
(6) (new – SG 93/09, in force from 25.12.2009) Inspections shall be carried out on the grounds of a written order by the Chairman of the State Agency "National Security" or by a person authorized by him/her, indicating the objectives, the term and the place of inspection, the person subject to inspection, and the names and the positions of the inspectors.
(7) (new – SG 93/09, in force from 25.12.2009) The persons under Art. 3, par. 2 and 3, the state bodies, the local government authorities and their employees shall be obliged to provide assistance to the control bodies of the "Financial Intelligence" Directorate of the State Agency "National Security" for the implementation of their duties.
(8) (new – SG 93/09, in force from 25.12.2009) During the implementation of the site inspections the control bodies under par. 3 shall be entitled to free access to the office premises of the persons under Art. 3, par. 2 and 4, and also to require documents and to collect information regarding the implementation of the assigned task.

Art. 17a. (new, SG 1/01; revoked – SG 109/07, in force from 01.01.2008)

Art. 18. (1) (amend. – SG 54/06; amend. – SG 109/07, in force from 01.01.2008; prev. Art. 18 – SG 36/08) Directorate "Financial intelligence" of State Agency "National Security" can obtain information about suspicion in money laundering apart from the persons under Art. 3, para 2 and 3 and from state bodies, also through international exchange.
(2) (new – SG 36/08) The Directorate "Financial intelligence" of State Agency "National Security" at its initiative and upon inquiry shall exchange information on cases, related to doubts for money laundering, with the respective international bodies, European Union bodies and with bodies of other countries on the grounds of international treaties and under reciprocity terms.

Art. 19. (amend. – SG 54/06) (1) When a person of art. 3, para 2 does not fulfill his/her obligations under this law the Minister of Finance shall be able to oblige him to undertake concrete measures necessary for removing the breach or to take away the issued permission (license) for carrying out of this activity, provided that he has issued it, or to instruct for deletion of the entry in case of registration regime for the respective activity.
(2) The body, issuing the permit (license) for carrying out of activity by a person under Art. 3, par. 2 can withdraw the granted permit (license) by his/her initiative or under a proposal of the Minister of Finance, made under the conditions of par. 1.

Art. 20. (amend. - SG 30/06, in force from 12.07.2006; amend. – SG 54/06) The acts of art. 19 shall be subject to appeal under the procedure of the Administrative Procedure Code.

Chapter four.
INTERNATIONAL COOPERATION
Art. 21. (revoked – SG 54/06)

Art. 22. (revoked – SG 109/07, in force from 01.01.2008)

Chapter five.
ADMINISTRATIVE PUNITIVE PROVISIONS
Art. 23. (1) (amend., SG 1/01, suppl. SG 31/03; amend. – SG 109/07, in force from 01.01.2008; suppl. – SG 93.09, in force from 25.12.2009) Who commits or admits to be committed a breach of art. 4, 5, 6, 7, 8, 9, 13 and 15a or refuses to provide assistance under Art. 17, par. 7 or to provide free access to the office premises of the persons under Art. 3, par. 2 and 3, to provide the requested documents or information under Art. 17, par. 8, shall be punished with a fine from 500 to 10 000 lv if the act does not constitute crime.
(2) (suppl. SG 31/03; amend. – SG 54/06) Who commits or admits the committing of a breach of art. 11, 11a and 14 shall be punished with a fine from 5 000 to 20 000 lv except the act does not constitute a crime.
(3) (suppl., SG 1/01) Who commits or admits a breach of art. 16 shall be punished with a fine from 200 to 2 000 lv except the act does not constitute a crime.
(4) (amend. – SG 54/06) When the breach of para 1, 2 and 3 has been committed by a sole trader or a legal person a proprietary sanction from 2 000 to 50 000 lv shall be imposed.
(5) (new – SG 54/06) Who commits or admits the committing of a breach of this law out of the cases under par. 1 – 4 or of a legal act related to its application, shall be fined with a fine from 500 to 200o levs.
(6) (new – SG 54/06) When the breach under par. 5 has been made by a sole trader or a legal person, a proprietary sanction from 1000 to 5000 levs shall be imposed.

Art. 24. (1) (amend., SG 1/01, amend. SG 31/03; suppl. – SG 54/06; amend. – SG 109/07, in force from 01.01.2008) The acts for establishing the breaches shall be compiled by the officials of Ministry of Finance or of State Agency "National Security" and the punitive decisions shall be issued by the Minister of Finance or the Chairman of State Agency "National Security" or officials authorized by them.
(2) The compiling of the acts, the issuing, appealing against and the implementation of the punitive decisions shall be implemented by the order of the Law for the administrative breaches and penalties.

Additional provisions

§ 1. In the sense of this law:
1. (amend. – SG 54/06) " Trade or professional relation" is a relation, which is related to the activity by profession of the obliged institutions and persons under this law and as of the time of establishment of the relation it is assumed, that it has a component of continuity.
2. (amend. – SG 54/06) "Regulated financial group" is a financial group, which is a subject of effective consolidated supervision.
3. (revoked – SG 54/06; new – SG 92/07) "Group" is a group of companies, comprising:
a) parent company and its subsidiaries; in the group shall also be included the companies, in which the parent company or its subsidiaries have participations, or
b) jointly managed companies by virtue of a contract or articles of association or statutes, or
c) the companies in which the majority of members of their managing or control bodies are one and the same persons during the respective financial year and till the date of compiling the consolidated financial report.
4. (new – SG 31/03; amend. – SG 109/07, in force from 01.01.2008; amend. – SG 93/09, in force from 25.12.2009) "Services for security" are the National intelligence service, Service "Military Information" at the Minister of Defence and General Directorate "Combating Organized Crime" of the Ministry of Interior.
5. (new – SG 31/03, amend. – SG 82/06; amend. – SG 109/07, in force from 01.01.2008; amend. – SG 69/08; amend. – SG 93/09, in force from 25.12.2009) "Services for public order" are Chief Directorates "Criminal Police", "Security Police", "Border Police", "Pre-trial proceedings", "Fire safety and rescue" and "Civil Protection", District Directorates of the Ministry of Interior, and Service "Military Police" of the Ministry of Defence.
6. (new – SG 31/03) "Body for supervision" is a state body, authorised with a law or other normative act to exercise general control over the activity of a person under art. 3, para 2 and 3;
7. (new – SG 92/07) "Member State" is a country which is a member of the European Union.
8. (new – SG 92/07) "Third country" is a country which is not a Member State within the meaning of item 7.

§ 1a. (new – SG 92/07) This Law shall introduce the provisions of Directive 2005/60/ЕC of the European Parliament and the Council on the prevention of the use of the financial system for the purpose of money laundering and terrorist financing and Commission Directive 2006/70/ЕC laying down implementing measures for Directive 2005/60/EC of the European Parliament and of the Council as regards the definition of 'politically exposed person' and the technical criteria for simplified customer due diligence procedures and for exemption on grounds of a financial activity conducted on an occasional or very limited basis.

Transitional and concluding provisions

§ 2. This law shall repeal the Law for the measures against money laundering (SG 48/96).

§ 3. (amend. SG 31/03) In three months term after the law enters into force the persons of art. 3, para 2 and 3 shall be obliged to submit to the Agency for financial intelligence the available information about money laundering.

§ 4. In five months after the law enters into force the persons of art. 3, para 2, items 1, 2, 3, 4, 5, 9, 11, 13 and 18 shall be obliged to bring their organisation and activity in compliance with the requirements of this law and to present their internal rules of art. 16 to the Minister of Finance.

§ 5. In art. 10 of the Law for administrative breaches and penalties (prom. SG 92/69, amend. SG 54/78, SG 28/82, SG 28, 101/83, SG 89/86, SG 24/87, SG 94/90, SG 105/91, SG 59/92, SG 102/95, SG 12, 110/96, SG 11, 15, 59/98) after the words "the concealors" shall be put a comma and shall be added "as well as the admitters".

§ 6. The implementation of the law is assigned to the Council of Ministers which shall approve a regulation for its implementation in two months term after the law enters into force.

The law is passed by the 38th National Assembly on July 9, 1998 and is affixed with the official seal of the National Assembly.

Transitional and concluding provisions
(SG 31/03)
§ 20. (1) The persons of art. 3, para 2 and 3, for whom the obligation to apply measures against money laundering has occurred before the passing of this law, shall bring their internal rules of art. 16 in compliance with the requirements of this law and send them to the Agency for financial intelligence in 4 months term after this law enters into force.
(2) The persons of art. 3, para 2 and 3, for whom the obligation to apply measures against money laundering occurred by force of this law, shall approve and send to the Agency for financial intelligence the internal rules of art. 16 in the term of para 1.

§ 28. (1) (amend. SG 31/03) The assets, the liabilities, the archive as well as the other rights and obligations of Agency "Bureau for financial intelligence" shall be undertaken by the Agency for financial intelligence.
(2) The existing employment and official legal relations shall not be terminated, applying respectively art. 123 of the Labour Code.

Transitional and concluding provisions
TO THE INSURANCE CODE
(PROM. – SG 103/05, IN FORCE FROM 01.01.2006)

§. 28. Тhe code shall enter in force from 1st of January 2006, except:
1. Art. 45, Para 3, Art. 47, Chapter Four, Art. 71, Para 4, Art. 77, Para 5, Art 80, Para 5, Art. 88, Para 3, Art. 89, Art. 99, Para 4, Art. 112-116, Art. 127, 137, 139 -149, Chapter Seventeen, Chapter Twenty Two, Art. 254, Para 1, item 2, Art. 258, Para 1, items 2, 3 and 5, Art. 282, Para 2 and §. 13, item 2, letter 'b", item 3, item 4, letter "c" and item 5 of the transitional and concluding provisions, which shall enter in force from the date of the Pre-accession to the European Union of the Republic of Bulgaria Agreement becomes effective;
2. Art. 254, Para 2 which shall enter in force from the date of the Decision of the European Commission, after the data about conclusion of an agreement between the National Bureau of the Bulgarian Automobile Insurers and the Bureaus of the Automobile Insurers of the Member States in accordance with Art. 2, Para 2 of Directive 72/166/EEC for harmonization of the legislation of the Member States, related with the insuring against civil liability with regard to the usage of motor vehicles and for imposing of obligation to insure against such liability is provided;
3. Art. 266, which shall enter into force from 11th of June 2012;
4. Art. 282, Para 4 and Art. 284 – 286, which shall enter in force from the date of the Decision of the European Commission, after the data about conclusion of an agreement between the National Bureau of the Bulgarian Automobile Insurers and the Bureaus of the Automobile Insurers of the Member States in accordance with Art. 6, Para 3 of Directive 200/26/EU for harmonization of the legislation of the Member States related with the insuring against civil liability with regard to the usage of motor vehicles and for amendment of Directives of the Council 73/239/ EEC and 88/357/EIO is provided. Until the date the Pre-accession to the European Union of the Republic of Bulgaria Agreement enters in force, the National Bureau of the Bulgarian Automobile Insurers shall establish the organization for execution of the functions as a compensatory body.
5. Art. 288, Para 2, which shall enter into force from 11th of June 2007 shall be applied for all filed claims for compensation on which up to this date the managing council of the Guarantee Fund has not pronounced; up to the date on which shall enter in force the Pre-accession to the European Union of the Republic of Bulgaria Agreement, the Guarantee Fund shall pay compensations only if the road-transport accident has occurred on the territory of the Republic of Bulgaria; the Guarantee Fund shall establish the organisation for execution of the functions of Information Centre within a six-months term from the code enters in force.

Transitional and concluding provisions
TO THE TAX-INSURANCE PROCEDURE CODE
(PROM. – SG 105/05, IN FORCE FROM 01.01.2006)

§ 88. The code shall enter in force from the 1st of January 2006, except Art. 179, Para 3, Art. 183, Para 9, § 10, item 1, letter "e" and item 4, letter "c", § 11, item 1, letter "b" and § 14, item 12 of the transitional and concluding provisions which shall enter in force from the day of promulgation of the code in the State Gazette.

Transitional and concluding provisions
TO THE ADMINISTRATIVE PROCEDURE CODE
(PROM. – SG 30/06, IN FORCE FROM 12.07.2006)

§ 142. The code shall enter into force three months after its promulgation in State Gazette, with the exception of:
1. division three, § 2, item 1 and § 2, item 2 – with regards to the repeal of chapter third, section II "Appeal by court order", § 9, item 1 and 2, § 15 and § 44, item 1 and 2, § 51, item 1, § 53, item 1, § 61, item 1, § 66, item 3, § 76, items 1 – 3, § 78, § 79, § 83, item 1, § 84, item 1 and 2, § 89, items 1 - 4§ 101, item 1, § 102, item 1, § 107, § 117, items 1 and 2, § 125, § 128, items 1 and 2, § 132, item 2 and § 136, item 1, as well as § 34, § 35, item 2, § 43, item 2, § 62, item 1, § 66, items 2 and 4, § 97, item 2 and § 125, item 1 – with regard to the replacement of the word "the regional" with the "administrative" and the replacement of the word "the Sofia City Court" with "the Administrative court - Sofia", which shall enter into force from the 1st of May 2007;
2. paragraph 120, which shall enter into force from the 1st of January 2007;
3. paragraph 3, which shall enter into force from the day of the promulgation of the code in State Gazette.

Concluding provisions
TO THE LAW OF AMENDMENT AND SUPPLEMENTATION OF THE LAW FOR THE MEASURES AGAINST MONEY LAUNDRING
(PROMULGATED – SG 54/06)

§ 29. The provisions of §8 and 11 shall enter into force three months after the promulgation of the Law in the State Gazette.

Transitional and concluding provisions
TO THE LAW FOR CREDIT INSTITUTIONS
(PROM. – SG 59/06)

§ 36. (new – SG 59/06) The Law shall enter into force on the day of entering into force of the Treaty of Accession of the Republic of Bulgaria to the European Union, except for §35, item 2, which shall enter into force on the day of promulgation of the Law in the State Gazette.

Transitional and concluding provisions
TO THE LAW ON THE MARKETS OF FINANCIAL INSTRUMENTS
(PROM. - SG 52/07, IN FORCE FROM 01.11.2007)

§ 27. (1) This Law shall enter into force from 1 November 2007 except § 7, Item 6, 7, 8, 18, 19, 22 – 24, 26 – 28, 30 – 40, Item 44, Letter "b", Item 47, 48, Item 49, Letter "a", Items 50 – 62, 67, 68, 70, Subletter "aa", second sentence regarding the replacement, Subletter "bb", second sentence regarding the replacement, Subletter "cc", second sentence regarding the replacement, Subletter "dd", second sentence regarding the replacement, Item 99, Letters "d" and "e", Item 101, Letter "b" and Item 102, § 8, § 9, Item 4, Letter "a", Item 5 and 7, § 14, Item 1 and § 19, which shall enter into force three days from the promulgation of the Law in the State Gazette.
(2) Paragraph 7, Items 6, 7 and 8 shall apply by 1 November 2007.

Transitional and concluding provisions
TO THE LAW ON STATE AGENCY "NATIONAL SECURITY"
(PROM. - 109/07, IN FORCE FROM 01.01.2008)

§ 44. This Law shall enter into force from 1 January 2008.

Relevant European legislation acts:
COUNCIL DIRECTIVE 91/308/EEC of 10 June 1991 on prevention of the use of the financial system for the purpose of money laundering
COUNCIL DIRECTIVE 72/166/EEC on the approximation of the laws of the Member States relating to insurance against civil liability in respect of the use of motor vehicles, and to the enforcement of the obligation to insure against such liability
DIRECTIVE 2000/26/EC of the European Parliament and of the Council of 16 May 2000 on the approximation of the laws of the Member States relating to insurance against civil liability in respect of the use of motor vehicles and amending Council Directives 73/239/EEC and 88/357/EEC
COUNCIL DECISION of 17 October 2000 concerning arrangements for cooperation between financial intelligence units of the Member States in respect of exchanging information
Council Framework Decision 2001/500/JHA of 26 June 2001 relating to money laundering, identification, tracing, freezing or seizing and confiscation of the instrumentalities and proceeds from crime
JOINT ACTION of 3 December 1998 adopted by the Council on the basis of Article K.3 of the Treaty on European Union, on money laundering, the identification, tracing, freezing, seizing and confiscation of instrumentalities and the proceeds from crime

Transitional and concluding provisions
TO THE LAW ON AMENDMENT AND SUPPLEMENTAION OF THE LAW FOR THE MINISTRY OF INTERIOR
(PROM. – SG 93/09, IN FORCE FROM 25.12.2009)

§ 100. The law shall enter into force within one month after its promulgation in the State Gazette, except for § 1, 2, 21, 36, 39, 41, 44, 45, 49, 50, 51, 53, 55, 56, 57, 59, 62, 63, 64, 65, 70 and 91, which shall enter into force from the day of its promulgation.



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