Senin, Juli 22, 2024

Technical Guidelines for the Mandatory Reporting of Data and Business Activity Changes for Excavation and Reclamation Business Entities Introduced

Following the obligation for holders of business permits for excavation and reclamation activities ("Business Permits") to submit written reports on changes to the relevant information of the respective entities, the Director-General of Sea Transportation at the Ministry of Transportation ("Director-General") has now decided to introduce a set of applicable technical guidelines for the mandatory reporting of changes to the data and business activities of business entities that engage in excavation and reclamation activities ("Business Entities") through the issuance of Decree No. A.750/AL.324/DJPL ("Decree 750/2024"), which has been in force since 3 July 2024.
As comprehensively outlined under the Appendix to Decree 750/2024, the aforementioned guidelines on the reporting of changes to Business Entity data and business activities ("Guidelines") state that such data and business activity changes reports ("Reports") should be processed in the following phases: 1) The respective Business Entity makes a record of any changes that are made to their data in order to be subsequently drafted into the format outlined under the Appendix to Decree 750/2024; and 2) The respective Business Entity submits a written report based on the changes that have been recorded, as outlined in point (1) above, to the Director-General.
The Guidelines determine that the abovementioned Reports are required to be drafted and submitted within the following specific timeframes: 1) For changes in Business Entity data (i.e. board of directors, owners, domicile of the company or ownership status): must be drafted within 14 days of the occurrence of such changes and reported within the same timeframe; and 2) For changes in a Business Entity’s business activities: must be drafted every quarter and reported within the same timeframe.

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Following the obligation for holders of business permits for excavation and reclamation activities ("Business Permits") to submit written reports on changes to the relevant information of the respective entities, the Director-General of Sea Transportation at the Ministry of Transportation ("Director-General") has now decided to introduce a set of applicable technical guidelines for the mandatory reporting of changes to the data and business activities of business entities that engage in excavation and reclamation activities ("Business Entities") through the issuance of Decree No. A.750/AL.324/DJPL ("Decree 750/2024"), which has been in force since 3 July 2024.
As comprehensively outlined under the Appendix to Decree 750/2024, the aforementioned guidelines on the reporting of changes to Business Entity data and business activities ("Guidelines") state that such data and business activity changes reports ("Reports") should be processed in the following phases: 1) The respective Business Entity makes a record of any changes that are made to their data in order to be subsequently drafted into the format outlined under the Appendix to Decree 750/2024; and 2) The respective Business Entity submits a written report based on the changes that have been recorded, as outlined in point (1) above, to the Director-General.
The Guidelines determine that the abovementioned Reports are required to be drafted and submitted within the following specific timeframes: 1) For changes in Business Entity data (i.e. board of directors, owners, domicile of the company or ownership status): must be drafted within 14 days of the occurrence of such changes and reported within the same timeframe; and 2) For changes in a Business Entity’s business activities: must be drafted every quarter and reported within the same timeframe.

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