EIMIN Submits 14 Draft Laws for the Autumn Parliamentary Session: Key Changes for Business

The Ministry of the Economy and Innovation (EIMIN) has prepared a package of 14 draft laws and one parliamentary resolution for the 2026 autumn session of the Seimas. This legislative package focuses on the implementation of the country's "3i" economic transformation plan (investments, innovations, institutions) and will directly impact various business and accounting procedures.

A primary proposal includes amendments to the Law on Partnerships aimed at modernizing their operational and management models. For general partnerships (TŪB) and limited partnerships (KŪB), this will require a review of internal joint venture agreements, member decision-making procedures, and reporting protocols.

The package also seeks to strengthen investor protection through amendments to the Law on Protection of Interests of Owners of Bonds of Public Limited Liability Companies and Private Limited Liability Companies. Companies issuing debt securities will face stricter transparency and reporting requirements, along with updated operational supervision for bondholder trustees.

Furthermore, the European Union's Artificial Intelligence Act will be transposed into national law, establishing a national supervisory framework. Companies developing or integrating artificial intelligence systems into their business processes will need to implement risk assessment and compliance procedures aligned with the new regulation.

Suppliers participating in public procurement will encounter procedural simplifications and updated requirements introduced by amendments to the Laws on Public Procurement, Electronic Identification, and Management of State Information Resources. The Law on Product Safety will also be revised to align with updated EU market surveillance standards. Additionally, the National Human Resources Competence Development Law is slated for adoption, alongside the approval of the 2026–2040 National Digital Development Agenda.

The exact effective dates of these laws and any transitional periods will be determined following the voting in the autumn session of the Seimas. Specific requirements for bond trustees and the scope of information disclosure will depend on the final wording approved by the parliamentary committees.