Business entities need to understand the basic notions introduced by the Law to be sure how to comply with its provisions.
First and foremost, it is important to understand to whom the new Law applies. Specifically, the obligation to comply with the new regulation applies to all persons who are considered creators of archival material and documentary material, which are all legal entities, both from the private and public sectors, as well as natural persons performing business activities.
It is also important to note that the size of the company and the number of employees do not affect the existence of the obligation to comply with the new regulations. So, if you have even one person who is in a working relationship with your company, you are obliged to comply with the Law.
Further, it is important to distinguish documentary material from archival material. Documentary material represents all documents, produced by subjects, both in the private and public sectors. The retention periods for keeping such material (which is not necessary to be permanently kept) are determined by the business entity from whose work they arise, applying the retention periods prescribed by special laws.
Archival material represents a specific kind of documentary material. The particularity reflects in the fact that archival material is made up of documents that have a certain cultural, historical, and general social significance, which must be permanently preserved and submitted to the competent archive for retention, 30 years after the creation of documents representing archival material.
Therefore, the key is that the archival material is kept permanently, while the documentary material can be released and destroyed after the defined retention period has passed.
As a special form of archival material, the notion of archival material in electronic form is introduced, which is an archival material originally created in electronic form. For the first time, the Law introduces the possibility to create and preserve archival material in electronic form, which will have to be kept in accordance with the provisions of the Law and regulations governing reliable electronic storage of documents.