Along with the introduction of the expedited Commercial Register procedure the coverage of the fields of activity of entrepreneurs has been changed as of this year. For instance, entrepreneurs will have to indicate the actual activities of the company and the number of the fields of activity recorded in the Commercial Register is limited from now on. This helps to make certain what the company is actually doing.
On January 24 the Public Information Act Amendment Act passed the third reading and was adopted by the Riigikogu. The act was aimed at increasing the transparency of the public authority and bringing the effective act into compliance with the modern information technology developments.
In the first week over a hundred first entry and amendment applications have been submitted via the portal for remote administration of companies, which was opened on January 2, 2007. Most of the applications have been processed by way of the expedited procedure.
The Riigikogu adopted extensive amendments to the special part of the penal law, which specify the elements of criminal official conduct, tax crimes, economic crimes and crimes against intellectual property. The new law will enter into force on March 15.
On February 1 amendments to the procedure for confiscation of proceeds of crime entered into force, considerably simplifying confiscation of proceeds of crime, including, for example, cars, houses and amounts on a bank account.