On 30.05.2017 a draft of Concessions Act was submitted to the National Assembly for consideration. After the adoption of the New Concessions Act, the existing Concessions Act and the Public-Private Partnership Act will be repealed.
The Draft Law on Concessions aims at transposing into Bulgarian legislation Directive 2014/23/EU of the European Parliament and of the Council on the award of concession contracts.
It is envisaged that the new Concessions Act will enter into force within three months of its promulgation in the State Gazette.
Some specific provisions of the new Concessions Act will enter into force 12 months after its promulgation in the State Gazette.
The regulation of the National Concession Register and the rules for the keeping of the accounts for each concession shall be enacted as of 31.01.2019.
The adoption of the Concessions Act provides for changes to 26 laws.
Proposal deadline before the second reading vote is forthcoming. The deadline for submissions is until 06.07.2017.
Our team will follow up on the adoption of the act and promulgation of the adopted final text of the new Concessions Act.
