Acting president signs controversial credit bill into law

Saeima Chairwoman Inara Murniece (National Alliance), who is standing in for President Raimonds Vejonis until August 10, has promulgated controversial amendments to the Law on Credit Institutions that Vejonis earlier returned to the parliament for revision.

Saeima, however, made no alterations to the legislation, therefore the president could not return the amendments to the parliament again and the amendments had to be promulgated.

Vejonis is currently on vacation, therefore the amendments had to be promulgated by Murniece, the acting president.

As reported, the amendments stipulate that persons who, for the preceding two years, were authorized by a creditor to represent him or her in relations with a credit institution, may not be appointed the given credit institution's liquidator.

Returning the amendments to the parliament, Vejonis suggested that they were designed to meddle with the Trasta Komercbanka liquidation process.

Saeima, however, says that the circumstances have since changed, therefore the president's objections were unfounded. The amendments were supported by 49 MPs from Harmony, Union of Greens and Farmers, National Alliance, and For Latvia from the Heart.

Twenty Unity members as well as Ilmars Latkovskis and Romans Naudins (National Alliance) voted against the amendments, while fifteen MPs abstained.

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