Bulgarian legislative updates in finance, health and law

The Bulgarian National Assembly has progressed several legislative amendments concerning the financial, healthcare, and insurance sectors.

In the financial sector, amendments to the Law on Public Offering of Securities aim to modernize the capital market in line with EU Directive 2024/2810. These changes introduce structures for shares with multiple voting rights to help companies attract capital without founders losing strategic control.

In the healthcare sector, the Parliament approved amendments to the Health Act at first reading. A key measure, supported by Progressive Bulgaria, allows Ministry of Interior employees to provide first aid using automated external defibrillators (AEDs) installed in police patrol cars. While proponents noted that AEDs provide voice instructions to reduce the need for specialized training, some opposition members raised concerns regarding the practical maintenance and effective use of the devices by officers. Additionally, a bill from Democratic Bulgaria was passed to improve the electronic medical expertise system and enhance oversight regarding the determination of permanent incapacity for work. A proposal from the Vazrazhdane party to allow immediate transport to medical facilities during emergencies was rejected.

In the insurance sector, the Parliament approved amendments to the Insurance Code in a second reading. These changes prohibit insurers from refusing short-term civil liability insurance for specific vehicle categories, such as motorcycles, mopeds, campers, and caravans, allowing for policies covering 30, 90, or 180 days. Furthermore, the amendments grant the Financial Supervision Commission authority to address funding shortages in funds managed by the Guarantee Fund and establish new rules for compensation payments if an insurance company’s license is revoked.