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National Assembly adopts Rules of Procedure on election of Bulgarian National Bank’s Deputy Governor

The National Assembly adopted Rules of Procedure for conducting hearings and election of the Deputy Governor of the Bulgarian National Bank who is to be in charge of the Banking Supervision Department. The rules are to be applied in the election of the proposed by the BNB’s Governor candidate Dimitar Ivanov Kostov.

The proposal itself and the nominee for the position of BNB deputy governor and the documents of the candidate will be published on the Internet site of the National Assembly not later than 7 days before the date set for the hearing.  The hearing will take place at an open sitting of the Budget and Finance Committee and is to be streamed live on the Internet site of the National Assembly.

The candidate is first presented in the course of 2 minutes by the BNB Governor who has submitted the proposal. The presentation must include information about the specific professional qualifications, concepts, public reputation and support for the candidate.

The next step is for the candidate to present personally himself and his ideas about running the banking supervision department. The candidate may do this in the course of ten minutes.

The committee may ask for additional information from the candidate, as well as from competent organs. The hearing is accompanied by a complete shorthand protocol, published on the designated place on the Internet webpage of the National Assembly.

The sitting of the parliament where the vote is to be cast will be broadcast live through the Internet site of the National Assembly. The vote is open and is conducted through the computerized system. If the candidate has not received the required number of votes, the parliament shall make the decision to open a new procedure for election.

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