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30 June 2014

Today the Bulgarian National Bank sent to the Chairman of the Budget and Finance Commission at the Parliament, Mr. Jordan Tsonev a proposal for an amendment to the Penal Code.

The proposal reads as follows:

New Art. 252 а, with wording as follows below, shall be created in the Penal Code, section Crimes against the Monetary and Credit System:

Art 252 а. (1) Whoever disseminates misleading or false information or any other information about any bank or financial institution, which may lead to causing commotion and fear in the population, shall be sanctioned by imprisonment for a period from two to five years.

(2) Where the activities under para. 1 have caused other persons significant damages or have afforded significant illegal incomes, the sanction shall be imprisonment for a period from five to ten years and a fine from BGN 5,000 to BGN 10,000.

The amendment to the Penal Code is proposed in relation to the dissemination in the recent several days of misleading information and malicious rumours with regard to Bulgarian banks and aims to criminalize such activities.

This proposal is in conformity with the position of the political parties and institutions participating in the consultations with the Head of State, expressed yesterday by President Rossen Plevneliev.