The acting Cabinet approved the regulations governing the activity of the commission for authorizing and disciplining insolvency practitioners, whose constitution is envisioned in the Law on Authorized Practitioners that took effect a year ago, IPN reports.
The regulations institute the normative framework concerning the authorization, organization and oversight of the professional activity of authorized practitioners. These supervise and administer businesses or individuals that are in the process of insolvency or dissolution.
The document defines the method of organizing the commission’s activity and of selecting its members. Thus, the commission ascertains and examines cases of violation of the professional obligations by practitioners and decides the disciplinary punishment and penalties for the identified violations, except for those to suspend and withdraw the authorization, which are imposed by the minister of justice.
