BILL ON ILLEGALLY ACQUIRED ASSETS CONFISCATION MULLED IN BULGARIA Novinite.com - 2002/9/11
The confiscation of property acquired in the past 12 years in cases when the owner can not verify the origin of the acquired assets. This is envisaged by a bill, presented by Interior Minnster Petkanov at a roundtable discussion on September 10. The law is proposed to apply to all transactions exceeding BGN 30,000 and inked after January 1, 1990. The members of the property's owner's family, as well as third parties that may have benefited, will also be required to declare their property status. The ownership rights of third parties that have acquired the assets in goodwill from the person investigated will be guaranteed. Minister Petkanov underlined that, in drafting the bill, the experience of U.S, Switzerland, Ireland and the Netherlands has been tapped.