This Law establishes legal and organizational basic principles for performance of state supervision (control) in the sphere of economic activity, plenary powers of state bodies and public officials, and also liability of the subjects of economic activity in the process of performance of the aforesaid state control (supervision). State supervision (control) shall be performance of proceedings within the limits established by acting legislation with a view of prevention of the infringement of legislation by the subjects of economic activity and insuring protection of the interests of society, in particular ensuring adequate quality of produce and services, acceptable risk level for the population and environment. State supervision and control shall be performed by the authorized state institutions, bodies and officials.