Following the publication of the Autumn Budget 2024 on 30 October 2024, several built environment industry bodies have released their responses.

Following the King’s Speech on 17 July 2024, various built environment industry bodies have published their responses. Please see the selected extracts below.

Following the publication of the Spring Statement on 26 March 2025, several built environment industry bodies have released their responses.

A conversation with Yoana Strateva, from the Sofia office of regional law firm Schönherr, on key issues on foreign direct investment (FDI) control in Bulgaria. 1. What is the applicable legislation? The Bulgarian FDI regime was introduced through an amendment to the Bulgarian Investment Promotion Act (the "FDI Act"), which entered into force on 12 March 2024. Despite the entry into force of the amendment, the regime is currently not operational, as its full implementation through the adoption of the implementing and organizational regulations to the FDI Act is forthcoming. More specifically, while one of the implementing regulations was already adopted, the second implementing regulation is expected to be adopted any time by the Council of Ministers. In light of this, the Act introduces a "transitional regime" whereby FDIs, which have commenced following the entry into force of the amendment but prior to the adoption of the above regulations, are exempt from filing for FDI authorization. 2. Which government or other body (or bodies) reviews foreign investments? Any foreign direct investments, subject to screening under the FDI Act, are

This table summarises all completed investigations by the Bulgarian competition authority (the Commission for the Protection of Competition—CPC) into alleged cartels, anti-competitive agreements and abuses of dominant positions (Articles 101/102 TFEU and national equivalents) since 2018. Note—only investigations that have been made public are included in this table. 2024 Investigations under Article 101 TFEU/Article 15 of the Law on Protection of Competition Case name, companies under investigation and industry Issues Developments Footwear• Technomat - Mercury• TPKI ZDRAVOHOD• Kavaler Union 2001 Restrictive agreement—bid rigging • Infringement decision announced—21/11/2024; fines totalling BGN 2.7m imposed Flowers, decorative plants, planting material and landscaping services• Total LC Ltd• S.I.I Restrictive agreement—bid rigging • Infringement decision announced—15/10/2024; fines totalling BGN 56,590 imposed Investigations under Article 102 TFEU/Article 21 of the Law on Protection of Competition Case name, companies under investigation and industry Issues Developments Passenger rail transport• DP NKZI Concerns DP NKZI abused its dominant position for not providing uniform conditions for services related to the access and use of the country’s rail infrastructure • Commitments accepted—02/01/2024 2023 Investigations under Article 101 TFEU/Article

NOTE—to see whether notification thresholds in Bulgaria and throughout the world are met, see Where to Notify. 1. Have there been any recent developments regarding the Bulgarian merger control regime and are any updates/developments expected? Are there any other ‘hot’ merger control issues in Bulgaria? Major amendments to the Bulgarian merger control regime were made, first, by the adoption of the current Bulgarian Competition Protection Act SG No. 102/2008 (CPA 2008) at the end of 2008. After the amendments of the CPA from 2021 about the test, and some aspects of the procedure, for assessment of the concentrations, the merger control requirements were amended again at the end of 2025. Most of the latest amendments from 2025 relate to the notification of the merger and the types of decision which the Competition Protection Commission (CPC). In 2021, when previous significant amendments of the CPA were adopted, new Rules on imposing remedies for restoring effective competition in concentrations between undertakings, subject to in-depth investigation, Rules for conducting pre-notification contacts regarding merger control entered and amendments in the Merger Control Notification

CASE HUB ARCHIVED–this archived case hub reflects the position at the date of the decision of 10 December 2015; it is no longer maintained. See further, timeline, commentary and related cases. Case facts Outline European Commission Article 102 TFEU investigation into Bulgarian Energy Holding in relation to the wholesale electricity market (case number AT.39767). Latest development On 10 December 2015, Commission formally accepted binding commitments from Bulgarian Energy Holding. Under the commitments, BEH will: • set up a power exchange in Bulgaria, assisted by an independent third party with expertise in the operation of power exchanges and transfer the control of the new power exchange to the Bulgarian Ministry of Finance to ensure its independence • to ensure the liquidity of the exchange,

CASE HUB NOTE—appeal lodged before the General Court in Case T- 136/19 See further, timeline, commentary and related/relevant cases. Case facts Outline European Commission Article 102 TFEU investigation into Bulgarian Energy Holding (BEH), Bulgargaz and Bulgartransgaz (gas infrastructure) (case number AT.39849) Latest development On 17 December 2018, the Commission issued its infringement decision. The Commission imposed a fine of € 77,068,000 on BEH, Bulgargaz and Bulgartransgaz which are jointly and severally liable. Parties • BEH: a State-owned company active in the energy sector in Bulgaria • Bulgargaz: a subsidiary of BEH; the main supplier of gas at the downstream wholesale level in Bulgaria, and • Bulgartransgaz: a subsidiary of BEH; the owner of the Bulgarian transmission network and of the only storage facility in Bulgaria Market(s) Markets for gas infrastructure

ARCHIVED: this Practice Note is no longer maintained as it covers the implementation of EU free movement law in the UK prior to IP completion day, on which date domestic legislation implementing EU free movement law was revoked, subject to certain savings and modifications. For further details, including of the relevant savings and the position of CJEU case law, see Practice Note: Brexit and the end of EU free movement law in the UK. The Practice Note has been retained in archived form for historical interest, because EU law as previously implemented in the UK remains relevant in certain limited situations. For historical versions of the Immigration (European Economic Area) Regulations 2016, SI 2016/1052, including immediately prior to revocation, see Legislation.gov.uk. For the ongoing development of EU free movement law in EU Member States, see: Immigration, employment & share incentives (EU Law)—overview. IMPORTANT NOTE: The accession period for Bulgaria and Romania ended on 31 December 2013. This Practice Note has been retained in

This Deed of Merger is made on the [insert day] day of [insert date]. Parties 1 [TRUSTEE OF TRANSFERRING SCHEME] (Company No. [ ]) whose registered office is at [address] (the ‘Transferring Trustee’); 2 [PRINCIPAL EMPLOYER OF TRANSFERRING SCHEME] (Company No. [ ]) whose registered office is at [address] (‘Transferring Scheme Employer’); 3 [TRUSTEE OF RECEIVING SCHEME] (Company No. [ ]) whose registered office is at [address] (the ‘Receiving Trustee’); and 4 [PRINCIPAL EMPLOYER OF RECEIVING SCHEME] (Company No. [ ]) whose registered office is at [address] (‘Receiving Scheme Employer’). BACKGROUND (A) The Transferring Trustee is the trustee of the [Name of Transferring Scheme] (the ‘Transferring Scheme’). (B) The Receiving Trustee is the trustee of the [Name of Receiving Scheme] (the ‘Receiving Scheme’). (C) The Receiving Scheme Employer is the Principal Employer of the Receiving Scheme and the Transferring Scheme Employer is the Principal Employer of the Transferring Scheme. (D) Both the Receiving Scheme and the Transferring Scheme are registered pension schemes for the purposes of the Finance Act 2004. (E) [The Receiving Scheme and the Transferring Scheme have both formerly been contracted-out for the purposes of Part III of the Pension

The transfer of the value of the rights of a group of members from one occupational pension scheme to another.

This Practice Note considers bulk transfers between occupational pension schemes. A bulk transfer is the transfer of a group of members from one scheme (the transferring scheme) to another (the receiving scheme). The transferring scheme will make a transfer payment to the receiving scheme, covering all of the transferring members. The transferring members will cease to be entitled to benefits in the transferring scheme, and will become entitled to benefits under the receiving scheme. This Practice Note considers the circumstances when bulk pension transfers may be made, the main issues for trustees, member consent and whether it is required, the main issue for trustees when considering a bulk transfer, the legislation governing the transfer, tax issues and discharge of trustees following the pension transfer. Common uses and active member considerations Common circumstances in which bulk transfers are made Bulk transfers are most commonly made in conjunction with the merger or demerger of schemes. This may occur where an employer is selling or demerging part of its business, or where an employer