On 19 of September 2018, the Government adopted the Resolution "On amendments to the Procedure for the Sale of Seized Assets at Electronic Bidding". Relevant Resolution was developed by ARMA in order to avoid ambiguous interpretation of the provisions of "Procedure for the Sale of Seized Assets at Electronic Bidding" and in order to ensure the effective sale of assets at market prices.

In particular, the document regulates issues related to the validity period of the report of the evaluation entities. According to the amendments, the validity period of the evaluation report is no more than six months from the date of the assessment.

ARMA is entitled to terminate an electronic bidding at any time and withdraw the asset from sale in case of cessation of statutory grounds for the sale of an asset or in case of finding circumstances that impede the sale of an asset in accordance with the Procedure. In case of termination of electronic bidding and withdrawal of an asset from the sale, the electronic bidding is recognized as the one that did not occur.

In case of termination of the grounds (circumstances) which resulted the termination of electronic bidding and withdrawing the asset from sale, the specified asset shall be transferred to ARMA for a sale at the first electronic bidding in accordance with paragraph 12 of the Procedure.

Also, the document clarifies the date when the preparation for conducting repeated electronic bidding starts - it's from the day following the day on which the organizer receives the evaluation report.

The Resolution of Government shall come into force on the day of its publication.