Transparency International – Bulgaria would like to express its concern regarding the lack of publicity and transparency in the process of drafting of legislation regarding the restructuring of “Corporate Commercial Bank” AD.

The adoption of specific legislation, aiming to solve a particular case by singular application, contradicts to the principles of legal stability and predictable governance.

Such an approach to the adoption of legislation in a very sensitive public sphere practically marks a departure from the principles of normativity and leads to an invalidation of the law as a public regulator. Equally important are the concrete economic consequences this normative act would bring for all Bulgarian taxpayers, as far as it directly involves expenditure of public funds.

The public significance of the draft legislation requires a high degree of transparency and publicity in the process of preparation and consultation. In accordance to the basic principles of modern governance – accountability, integrity and openness, Transparency International – Bulgaria believes that the public should be informed, and calls on all Members of Parliament to explicitly and publicly declare their interests in the process of enactment of legislation and the settlement of relations between “Corporate Commercial Bank” AD, the Bulgarian Government and Credit Agricole Bulgaria EAD, by disclosure of the existence/nonexistence of private interests for themselves and their affiliates, as indicated under Article 12, Item 4 of the Conflict of Interests Prevention and Ascertainment Act.

We would like to bring attention to Article 19, Paragraph 1 of the CIPAA, under which any public office holder is required to renounce the exercise of its powers or work obligations when on particular occasion exists a private interest.

Transparency International – Bulgaria believes that only by acting responsibly the Members of the 42nd National Assembly would lay the foundations of a good practice, which would be a step forward towards regaining public confidence in the work of the institutions.

Sofia, 14 July 2014