MINSK, 27 January (BelTA) – The government has come up with a scheme for enabling temporary external administration for Belarusian companies. The procedure is stipulated by the Council of Ministers' resolution No.56 of 24 January 2023 that has been published by the national legal information registry, BelTA has learned.
The document explains how commercial entities can switch to temporary external administration and how the administrator will be paid.
The oblast administrations and the Minsk City Executive Committee will have to compile registries of commercial organizations, which are registered in the territory of the relevant oblast and the city of Minsk depending on the company's significance, business scale, influence on the labor market, revenues for the state budget, and other criteria. Municipal authorities will also have to analyze the operation of commercial organizations on the registries in order to identify reasons for transferring them into temporary external administration. The Council of Ministers will have to authorize the start and the termination of temporary external administration.
The resolution comes into force as of the official publication date and will stay in effect through 31 December 2025.