The Committee on Industrial and Regulatory Policy and Entrepreneurship recommends the Parliament to adopt the Bill "On Self-Regulatory Organizations"

16 September 2011, 15:45

Publish

The primary goal of the bill (Reg. No. 9015) is to develop cooperation between the economic entities in certain economic sectors; form new mechanisms of rights protection and representation of legal interests of economic entities; strengthen responsibility of economic entities and/or subjects of professional activity and additional mechanism of consumer rights and legal interests protection; protect the market from unfair and unqualified economic entities.

 

The bill sets the rules of self-regulatory organizations which regulate specific relations peculiar for self-regulatory organizations; contains the provisions on economic or professional activity of members of self-regulatory organizations, activity of specialized bodies of self-regulatory organizations and recovery of losses at the expense of indemnification fund of self-regulatory organizations (if such is formed).

 

Under the bill, self-regulatory organization is not a separate subdivision of entity, but the status of a self-regulatory organization can be gained by any nonprofit company that meets the requirements of the bill (non-governmental organization, employers' organization etc).