VILNIUS - Under the initiative of President Dalia Grybauskaite legislative amendments were drafted and submitted to the Seimas on Thursday. The goal is to prevent abuse of fictitious debt notes, bills of exchange and stock purchase agreements.
As law enforcement started real fight against illicit enrichment, gaps in the law that do not allow proving unjust enrichment cases were revealed. People who accumulated assets illegally go unpunished after submitting false debt notes or other documents.
According to the president initiated amendments to the Civil Code, the Law on Companies and the Law for Bills of Exchange and Promissory Notes, loans exceeding 50,000 litas (14,481 euros) should be approved of by a notary. Currently natural persons can borrow unlimited amounts of money and there is no need to approve it by a notary.