Name of law
Law to limit cash payments




Name Bill
A bill to limit cash payments





Date of adoption
09/02/2011



Number / year Official Gazette
16/2011








DECREE № 29 Pursuant to Art. 98 pt. 4 of the Constitution of the Republic of Bulgaria
DECREE:
To be published in the "Official Gazette" Act limiting cash payments accepted by HLI National Assembly on February 9, 2011
Released in Sofia on February 18, 2011
President of the Republic, Georgi Parvanov
stamped with the state seal.
Minister of Justice Margarita Popova

Act to limit cash payments

CHAPTER ONE PURPOSE AND excluded from the scope
Art. 1. The law governing restrictions on cash payments in the country.
Art. 2. The law does not apply to:
1. withdrawal and deposit of cash from / to own payment accounts;
2. withdrawal and deposit of cash from / to accounts incapacitated and limited able-bodied persons, spouses and lineal relatives; 3
. foreign currency transactions in the line of business;
4. operations with banknotes and coins, a country which is Bulgarian National Bank;
5. replacement of damaged banks of Bulgarian banknotes and coins;
6. payment of wages under the Labour Code. Chapter Two

RESTRICTIONS in cash
Art. 3. (1) Payments in the country is carried out by transfer or deposit in a payment account when:
1. a value equal to or exceeding 15 000 lev .;
2. a value below 15,000 lev, representing part of the cash consideration under a contract whose value is equal to or exceeds 15 000 Levs.
(2) Paragraph 1 shall also apply in the case of payments in foreign currency when their equivalent equals or exceeds 15 000 lev equivalent in Bulgarian lev is determined by the exchange rate of the Bulgarian National Bank on the day of payment.
Art. 4. (1) The servicing banks in the country of operations financed enterprises in the collection of revenues and other revenues through card payments are made on the basis of contracts concluded between the Ministry of Finance and the banks. The contracts contain the same terms and prices applicable for all banks.
(2) programs and resources providing card payment under par. 1 and related servicing and settlement are carried out by licensed by the Bulgarian National Bank payment system operator with settlement finality service payments by bank payment cards in the country based on a contract with the Ministry of Finance.
(3) The procedure for passing the budget enterprises to raise revenues and other revenues through card payments and service under par. 1 and 2 are determined by instructions of the Minister of Finance and the Governor of the Bulgarian National Bank.
(4) The Minister of Finance sets deadlines for phased transition of the budgetary organizations to raise revenues and other revenues through card payments and service under par. 1 and 2.
(5) due from the Ministry of Finance under the contract under par. 1 and 2 are borne by the central budget.
(6) card payments to budget enterprises under par. 1 natural and legal persons do not pay bank commissions and fees. Chapter Three


ADMINISTRATIVE PROVISIONS Art. 5. (1) Any person who commits or allows a violation of Art. 3 shall be punished by a fine of 25 per cent of the total payment made - if an individual or a pecuniary penalty amounting to 50 percent of the total payment made - if a legal person.
(2) For repeated violation under par. 1 the amount of the fine is 50 percent of the amount of payments made, and the property sanction - 100 percent of the amount of payment made.
Art. 6. (1) The acts for establishing the offenses under this Act shall be drawn up by the National Revenue Agency and the punitive decrees shall be issued by the Executive Director of the National Revenue Agency or authorized by officials.
(2) The issuance, appeal and execution of penalty decrees shall follow the procedure of the Administrative Violations and Penalties Act. ADDITIONAL PROVISIONS

§ 1. "Repeated" is the offense committed within one year from the entry into force of the penal provision by which the person has been punished for the same offense.
TRANSITIONAL AND FINAL PROVISIONS
§ 2. This Act shall apply to payments under Art. 3, completed on the day of its entry into force.

§ 3. For 2011, the Treasury may negotiate the terms and prices of art. 4 para. 1 within the contracts under § 22 para. 6 of the transitional and final provisions of the Law on State Budget of the Republic of Bulgaria for 2011
§ 4. In the Currency Act (prom. SG. 83 of 1999 .; amend., SG. 45 of 2002 ., No. 60 of 2003, SG. 36 of 2004 pcs. 105 of 2005, pcs. 43, 54 and 59 of 2006 and SG. 24 of 2009) in art. 2 para. 1 the words "this Act" is replaced by "by law".
§ 5. In the Law on Measures against Money Laundering (prom. SG. 85 of 1998 .; Amend. No.. 1 and 102 in 2001, pcs. 31 of 2003, SG . 103 and 105 of 2005, pcs. 30, 54, 59, 82 and 108 of 2006, pcs. 52, 92 and 109 of 2007, pcs. 16, 36, 67 and 69 of 2008 No.. 22, 23 and 93 of 2009, pcs. 88 and 101 of 2010) in art. 3 be amended as follows:
1. In para. 2 t. 21 and 24 are canceled.
2. Paragraph 7 is repealed.
The law was adopted by the 41 th National Assembly on February 9, 2011 and was affixed with the official seal of the National Assembly.
Chairman of the National Assembly Tsetska Tsacheva
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