The draft law is developed in accordance with the term established in the Law on Procedure for the Commercial Law to come into Effect – 31 December 2004 – for re-registration of enterprises, branches and representative offices with the commercial register or self-liquidation. Taking into account that the forced self-liquidation was stipulated as an obligation of the said entities that are not re-registered, which has not been fulfilled, amendments are planned to the procedure for forced liquidation. By the amendments it is intended to finalize reformation of the Commercial Law and delete the entities not re-registered from the Register of Enterprises, thus aligning the business environment. The draft law stipulates establishing rights for creditors to initiate commencement of liquidation and appoint a liquidator. Furthermore, the draft law sets forth a specific deadline – 31 December 2011 – until which both voluntary and forced liquidation processes have to be completed. After the said deadline those entities, liquidation process of which will not be completed, will be deleted from the Register of Enterprises. For the said draft law to come into effect it has to be adopted by Saeima in two more readings. | 
