The Legal Issues Committee approved the Draft Law on Foreign Agents Registration Act for the I reading.

The Draft defines the concepts of a foreign principal agent and foreign forces, and regulates the issues as follows: registration of a subject as a foreign principal agent, publicity of the application on the registration of a subject as a foreign principal agent or other documents, annual financial declaration of the subject registered as a foreign principal agent, the annulment of the subject registered as a foreign principal agent, monitoring for the identification of the foreign principal agent or the fulfillment of the legally established requirements, evasion from the registration of a subject as a foreign principal agent or the non-fulfillment of the legal requirements, and respective criminal liabilities.

“It is crucial to maintain the leverage established under the legislation and which is currently applicable in the United States. If the American people are entitled to have their sovereignty protected through effective mechanisms, the Georgian people are equally deserving of the same rights to safeguard our sovereignty. Therefore, based on the decision of the Georgian Dream team, the so-called accurate and verbally translated version of the American Foreign Account Tax Compliance Act (FARA) has been initiated by the Faction”, - the Chair of the Committee, Archil Gorduladze noted.

According to him, stemming from the Georgian reality, the law shall be assigned for execution to the LEPL Anti-Corruption Bureau.