Administrative liability for breaching debt term to be abolished

The Ministry of Justice has developed a draft law “On amendments to the Administrative Responsibility Code”. 

The project envisages the following changes:

ꞏ overdue accounts receivable and accounts payable;
ꞏ violation of the deadlines for making payments with the appropriate funds in the accounts of enterprises;
ꞏ administrative liability for property damage to business entities as a result of non-performance or improper performance of contractual obligations is abolished.

Currently, the Administrative Responsibility Code also provides for administrative liability for non-fulfillment of obligations by the parties to the contract.

This leads to the imposition of two sanctions on the parties to the contract for non-performance of the obligation, namely, administrative and property liability.

The bill has been submitted to the Legislative Chamber for consideration, the Justice Ministry said in a statement.