“Against oligarchic rule” is the name of the legislative package that will be initiated at the bureau meeting on November 21.
According to the draft proposed by the National Movement, an oligarch is a person who satisfies at least three of the following conditions and exercises influence on public authorities or their officials:
a) directly or indirectly carries out political activities;
b) members of his family or related persons, persons employed in legal entities owned by him hold state-political, political or state positions;
c) directly or indirectly (including through an organization under its influence) exercises significant influence over the means of media services;
d) represents the ultimate beneficiary of the owner of a business entity that, at the time this law is enacted, is a natural monopoly entity or occupies a dominant (monopolistic) position in the market in accordance with competition law;
e) the confirmed assets of a person or owner of a business entity exceed 0.35% of the country’s gross domestic product, or more than 7% of the land resource of Georgia is owned by him, his family members and related persons;
f) is under the sanctions of a Member State of the North Atlantic Treaty Organization and the European Union or the Commonwealth of States or international organizations.
The prepared bill proposes the existence of a register of oligarchs maintained by the Ministry of Justice.
The person will be included in the register of oligarchs based on the decision of the Constitutional Court.
A person recognized as an oligarch may also apply for removal from the register to the Minister of Justice, if he considers that the cumulative criteria that have become the basis for his inclusion in the register of oligarchs no longer exist.