- Part A General Principles of Commercial Activities
- Division I Merchants and Commercial Activities
- Division II The Commercial Register
- Division III Undertakings and Branches
- Division IV Firm Names
- Section 26. Definition of a Firm Name
- Section 27. Reference to the Type of Merchant
- Section 28. Firm Name Distinctiveness
- Section 29. Restrictions on the Choice of the Firm Name
- Section 30. Inclusion of Personal Names in Firm Names and the Continued Utilisationof Firm Names
- Section 31. Alienation of Firm Names
- Section 32. Firm Names of Branches
- Section 33. Protection of Firm Names
- Division V Procuration and Ordinary Commercial Powers of Attorney
- Division VI Commercial Agents
- Division VII Brokers
- Part B Merchants
- Part C Reorganisation of Commercial Companies
Disclaimer: The English language text below is provided by the Translation and Terminology Centre for information only; it confers no rights and imposes no obligations separate from those conferred or imposed by the legislation formally adopted and published. Only the latter is authentic. The original Latvian text uses masculine pronouns in the singular. The Translation and Terminology Centre uses the principle of gender-neutral language in its English translations. In addition, gender-specific Latvian nouns have been translated as gender-neutral terms, e.g. chairperson.
Text consolidated by Tulkošanas un terminoloģijas centrs (Translation and Terminology Centre) with amending law of:
21 December 2000;
29 March 2001;
26 June 2001;
14 February 2002. If a whole or part of a section has been amended, the date of the amending law appears in square brackets at the end of the section. If a whole section, paragraph or clause has been deleted, the date of the deletion appears in square brackets beside the deleted section, paragraph or clause.
The Saeima1 has adopted and the President has proclaimed the following Law:
1 The Parliament of the Republic of Latvia
Part A Division I Section 2. Legal Effect of Registration
If a merchant is registered in the Commercial Register, an objection that the economic activities, which are performed utilising the firm name registered in the Commercial Register are not commercial activities shall not be allowed.
Section 3. Legal Regulation of Commercial Activities
(1) Commercial activities shall be regulated by this Law, by The Civil Law and other laws, as well as by the norms of international law that are binding on Latvia.
Translation © 2002 Tulkošanas un terminoloģijas centrs (Translation and Terminology Centre) Section 4. Restrictions on Commercial Activities Section 5. Merchant Status and Public Law
The provisions of public law which prohibit the performance of specified types of commercial activities, or also provide for certain preconditions for the performance of such commercial activities, shall not influence the application of the provisions of this Law.
Division II Section 7. Transparency of the Commercial Register Section 8. Contents of the Record in the Commercial Register
(1) In respect of an individual merchant the following information shall be recorded in the 1) given name, surname, personal identity number and residential address of the merchant;
2) legal address; and
3) branch firm name, if it is different from the firm name of the merchant, and its legal
address.
(2) In respect of a partnership the following information shall be recorded in the Commercial
Register:
1) firm name;
2) type of partnership;
3) amount of contribution by each limited partner and the total amount of limited partner contributions;
4) given name, surname, personal identity number and residential address of the members and limited partners personally liable for the partnership, but for legal persons – name, registration number and legal address;
5) the given name, surname, personal identity number and residential address of those members of the partnership, but for legal persons – name, registration number and legal address, who are specially authorised to represent the partnership, indicating whether they have the right to represent the partnership individually, jointly or jointly with a proctor; or who have been excluded from representation;
6) legal address; 7) if the partnership has been established for a specific time period – the time period for which it was established; and 8) branch firm name, if it is different from the firm name of the partnership, and its legal address.
(3) In respect of a capital company the following information shall be recorded in the
Commercial Register:
1) firm name;
2) type of capital company;
3) given name, surname, personal identity number, residential address and office held of the members of the board of directors, members of the council (if the capital company has formed a council) and of the auditor;
4) the given name, surname, personal identity number and residential address of those members of the board of directors of the capital company, who are specially authorised in accordance with the articles of association to represent the capital company, indicating whether they have the right to represent the capital company individually, jointly or jointly with a proctor;
5) amount of equity capital, separately indicating the subscribed and paid-up amounts of equity capital;
6) [14 February 2002]
7) legal address;
8) if the capital company has been established for a specific time period – the time
period for which it was established; and
9) branch firm name, if it is different from the firm name of the capital company, and its legal address.
(4) In respect of a branch of a foreign merchant the following information shall be recorded in the Commercial Register: 1) branch firm name, if it is different from the firm name of the foreign merchant, and the firm name of the foreign merchant;
2) legal address of the branch and the location of the foreign merchant (legal address); the register where the foreign merchant is registered, and registration number, if the law of the state of the location of the foreign merchant provides for the recording of a merchant in a register;
3) the type of foreign merchant; and
4) amount of equity capital of the foreign merchant, separately indicating the subscribed and paid-up amounts of equity capital, if the foreign merchant is a capital company and this information is recorded in the state register in which the foreign merchant is recorded.
(5) In addition to the information referred to in Paragraphs one, two, three and four of this Section, the following information shall be recorded in the Commercial Register:
1) given name, surname and personal identity number of the proctor, as well as a reference to a total procuration or branch procuration if such procuration has been issued, and a reference to the granting of the rights referred to in Section 34, Paragraph two of this Law if such rights have been granted;
2) the given name, surname, personal identity number, residential address and scope of authorisation of those persons who are authorised to represent the activities of a merchant (foreign merchant) which are associated with a branch;
3) information regarding the termination, insolvency, liquidation and re-organisation of the activities of the merchant (foreign merchant);
4) information regarding the appointment of an administrator or a liquidator, indicating the given name, surname, personal identity number and residential address of the administrator (liquidator);
5) group of companies agreement, if such has been concluded; and Section 9. Documents to be Submitted to the Commercial Register Office and their Preservation Section 10. Entry of Records in the Commercial Register Section 11. Promulgation of Records in the Commercial Register Section 12. Public Access to the Commercial Register Section 13. Registration Certificate Section 14. Deletion of a Merchant from the Commercial Register
A merchant maybe deleted from the Commercial Register on the basis of: Section 15. State Fees Translation © 2002 Tulkošanas un terminoloģijas centrs (Translation and Terminology Centre)
may not exceed the administrative costs which are associated with the preparation and issuance of the relevant extracts or copies.
Section 16. Term for Submission of Information
Information, upon which basis new records are to be entered, as well as the documents specified by law to be submitted, shall be submitted to the Commercial Register Office within a period of 14 days from the day that the relevant decision is taken if this Law does not specify otherwise. [14 February 2002]
Section 17. Particulars of a Merchant
(1) The following particulars shall be included in the business letters, invoices and other
documents of a merchant: 1) the firm name of the merchant; 2) the registration number of the merchant at the Commercial Register; 3) the legal address of the merchant; and 4) in relevant cases – information regarding whether the merchant is in the process of
liquidation or insolvency. Division III An undertaking is an organisational economic unit. The undertaking includes both tangible and intangible things belonging to a merchant, as well as other economic benefits (value), which are utilised by the merchant to perform commercial activities. [14 February 2002]
Section 19. Commercial Secrets Section 20. Transfer of an Undertaking Section 21. Transfer of an Undertaking of an Individual Merchant to a Partnership Section 22. Definition of a Branch
A branch is an organisationally independent part of an undertaking, which is territorially or otherwise separated from the principle undertaking and at the location of which commercial activities are systematically performed in the name of the merchant. [14 February 2002]
Section 23. Recording of a Branch in the Commercial Register associated with the branch, and the scope of their powers.
Section 24. Deletion of a Branch from the Commercial Register
A branch shall be deleted from the Commercial Register: Section 25. Branches and Representative Offices of Foreign Merchants Register the following shall be indicated:
1) the firm name of the branch;
2) the firm name of the foreign merchant;
3) the legal address of the branch;
4) the location (legal address) of the foreign merchant;
5) the types of activities of the branch;
6) the register in which the foreign merchant is registered and registration number if
The Commercial Law
General Principles of Commercial Activities
Merchants and Commercial Activities
Section 1. Merchants and Commercial Activities
(partnership and capital company) registered with the Commercial Register.
their name for the purposes of gaining a profit. Commercial activity is one of the types of
entrepreneurial activity.
performed by a merchant. The status of a merchant may be granted by law also to other
persons.
[14 February 2002]
prohibited by law.
of which a permit (licence) is necessary, or also that may be performed by merchants in
conformity with the requirements specified by this Law.
[14 February 2002]
The Commercial Register
Section 6. Maintenance of the Commercial Register
Commercial Register:
firm name;
6) date of the entry of each record.
them.
[14 February 2002]
Cabinet.
[14 February 2002]
1) an application of an individual merchant;
2) an application of a liquidator of a commercial company;
3) an application of an administrator in a matter of insolvency;
4) an application of a commercial company to enter a record of re-organisation; or
5) a court adjudication.
Undertakings and Branches
Section 18. Definition of an Undertaking
1) on the basis of an application by the merchant regarding the closure of a branch; or
2) if the merchant is deleted from the Commercial Register.