As of 19th of June 2017 a new register application has been introduced on FSC’s website
As of 19th of June 2017 a new register application has been introduced on FSC’s website.
The instalment of the application expresses the efforts of FSC to help and facilitate a quicker and much easier access for the persons falling under the scope of para. 1d of the Supplementary provisions of the Public Offering of Securities Act (POSA). Since 2016 the amendment of POSA introduced the legal obligation for certain persons to disclose information.Through the new application the information is to be disclosed not in person, but through electronic means. This way it will be considerably more time-saving for the persons to comply with the law requirements.The application is available on the electronic module E-Register 1d (Е-РЕГИСТЪР 1Д), at https://register1d.fsc.bg/eRegister1d
According to para. 1d of the Supplementary provisions of POSA, the provisionsofChapterSix "a" of POSA ondisclosureofinformationshallapplyalsotopersonswhoseactivityisregulatedbythe EnergyActandtheActonregulationofwatersupplyandsewageservicesbytheCommissionof Energy andWaterRegulation, thestate-ownedenterprisesunderArt. 62, para. 3 oftheActofCommerceandthebusinesscompanieswithmorethan 50 percentofstateormunicipalparticipationintheequity.
The abovementioned obligation for information disclosure does not apply to undertakings which meet two of the following criteria:
1. Average number of staff for the year - up to 10 people;
2. Balance sheet value of the assets as of December 31 - up to BGN 700 000;
3. Net revenues from sales for the year – BGN 300 000.
The access and usage of the E-Register 1d application will be granted after a duly registration of the referred persons, who only need to apply for it through an electronic request to FSC. The registration will be concluded after the request for access to the system is approved. Once a request for access is filed, it will be processed by FSC and the requesting person is to receive an electronic notification. The notification is to consist either of announcement of the successfully granted access or motivated denial for access.
The full capacity of the Register is to be activated after 17th of July 2017 and it will be available at FSC’s website at https://register1d.fsc.bg/eRegister1d
Public access to disclosed information through the E-Register 1d is to be provided via FSC’s website and a specific hyperlink. An electronic manual on interacting with the application is available at FSC’s website.