The Parliament adopted the bill "On Deoligarchization" in the first reading

80 in favor and 9 against - Parliament adopted the draft law "On Deoligarchization" in the first reading.

What does the project prepared by "Georgian Dream" mean?

"The draft law regulates the following issues: definition of the concept of "oligarch"; issues of recognition of a person as an oligarch and entry into the relevant register, exclusion from the register of oligarchs and production of the aforementioned register; legal consequences of recognition of a person as an oligarch; issues of filling in relevant declarations by certain persons regarding contact with the oligarch and his representative.

According to the project, a person with significant economic and political weight in public life (oligarch) is considered to be a natural person who meets at least three of the following criteria at the same time: participates in political life; has a significant influence on mass media; is the final beneficiary of the entrepreneurial legal entity that has a dominant position in the market and that maintains or improves this position for 1 year; As of January 1 of the relevant year, the proven amount of assets of him and those entrepreneurial legal entities, where he is a beneficiary, exceeds 1,000,000 times the subsistence minimum established for able-bodied persons.

According to the project, the Parliament of Georgia makes a decision to recognize a person as a person with significant economic and political weight in public life (oligarch) and he will be entered into a special register."