Head of State Rumen Radev returned for new discussion in the National Assembly the Law on Supplementing the Investment Promotion Law adopted on October 24 this year. The law introduces specific conditions for the implementation of dispositive transactions with real estate, with some movable property and with company shares and shares in the capital of four companies controlled by the company “Lukoil“. Such transactions will be able to be carried out only after a decision of the Council of Ministers, which in turn is conditioned by a positive opinion of the State Agency “National Security“ (DANS).
In the reasons for the veto, the president points out that the law places the Council of Ministers in functional and operational dependence on the opinion of DANS, which is constitutionally inadmissible. The Council of Ministers is the competent body that guides and implements the country's domestic and foreign policy and ensures public order and national security. DANS, on the other hand, is a specialized body under the Council of Ministers and the agency cannot, through its opinions, oblige the Council of Ministers to take one or another decision. Otherwise, a situation is created in which the Council of Ministers cannot independently exercise its constitutional authority. This in itself is incompatible with the logic of the functioning of the executive branch.
Moreover, under Chapter Six of the Investment Promotion Act, there is already a procedure for screening foreign investments that could potentially threaten national security. This procedure takes into account not only the opinion of SANS on possible transactions, but also the opinion of the State Agency "Intelligence", as well as a number of other state bodies.
The imposition of additional conditions for specifically designated companies is not in line with the requirements of European Union law and contradicts both the letter and the meaning of the Law on Regulatory Acts.