Government Emergency
Ordinance No. 82 of 28 June 2007 (the
“GEO”) regarding the modification and completion of the Law 31 of
16 November 1990 on commercial companies (the
“Companies Law”) and other enactments.
The GEO provides for
certain amendments to the Companies’ Law and other relevant enactments.
The GEO enters into force
as of its publication in the Official Gazette of Romania. (Official
Gazette No. 446 of 29 June 2007)
Methodological Norms
of 14 February 2007 (the “Methodological Norms”)
regarding the enforcement of the Government Emergency Ordinance No.
54 of 28 June 2006 (the “GO”) on the regime of the contracts related
to the concession of public ownership goods.
The Methodological Norms
regulates the framework related to the regime of the contracts pertaining
to the concession of public ownership goods.
The Methodological Norms
enters into force as of its publication in the Official Gazette of Romania.
(Official Gazette No. 146 of 28 February 2007)
Law 441 of 27 November
2006 (the “Law”) with respect to the modification of the Law No.
31 of 16 November 1990 on commercial companies (the
“Companies’ Law)
The Law provides for
several amendments to the Companies’ Law.
The Law enters into force
in three days as of its publication in the Official Gazette of Romania.
(Official Gazette No. 955 of 28 November 2006)
Guide of 2006 regarding
the assignment of the public procurement contracts
The Guide establishes
the general framework for the assignment of the public procurement contracts.
The Guide’s provisions
enter into force as of its publication in the Official Gazette of Romania.
(Official Gazette No. 894 bis of 2 November 2006)
Order No. 893 of 28
July 2006 of the Ministry of Public Health (the
“Order”) regarding the approval of the Norms pertaining to the authorization
of the en gross distribution of medicines
The Order approves the
Norms.
The Order enters into
force as of its publication in the Official Gazette of Romania. (Official
Gazette No. 893 of 20 July 2006)
Law No. 320 of 14
July 2006 (the “Law”) regarding the amendment of the Government
Emergency Ordinance No. 108 of 27 June 2001 on farming (the
“Farming Law”).
The Law provides for
certain amendments to the Farming Law in connection to the wording and
the abrogation of the Chapter V thereof.
The Law enters into force
in three days as of its publication in the Official Gazette of Romania.
(Official Gazette No 626 of 20 July 2006)
Law No. 287 of 6 July
2006 (the “Law”) for the amendment of the Government Ordinance No.
51 of 28 August 1997 on leasing (the
“Leasing Law”)
The Law amends the Leasing
Law with respect to the categories of users/leasing, situations which
fall under the provisions of the Leasing Law, objects of the leasing
activities, leasing agreement’s features and leasing companies.
The Law enters into force
as of its publication in the Official Gazette of Romania. (Official
Gazette No. 606 of 13 July 2006)
Government Emergency
Ordinance No. 34 of 19 April 2006 (the
“GEO”) on public procurement
The GEO aims to regulate
the legal framework in connection to public procurement.
The GEO enters into force
in 45 days as of its publication in the Official Gazette of Romania.
(Official Gazette No. 418 of 15 May 2006)
Law No. 85 of 21 April
2006 on the insolvency procedure (the
“Insolvency Law”)
The Insolvency Law provides
the legal framework regarding insolvency, in accordance with the European
regulations in the field of commercial insolvency.
The Insolvency Law enters
into force as of its publication in the Official Gazette of Romania.
(Official Gazette No. 359 of 21 April 2006)
Government Emergency
Ordinance No. 30 of 12 April 2006 (the
“GEO”) related to the evaluation of the procedural aspects pertaining
to the process of awarding public procurement contracts.
The GEO designates the
Ministry of Public Finances to perform the evaluation of the procedure
concerning the awarding of public procurement contracts.
The GEO enters into force
in 14 days as of its publication in the Official Gazette of Romania.
(Official Gazette No. 365 of 26 April 2006)
Law No. 86 of 10 April
2006 regarding the Romanian Custom Code (the
“Custom Code Law”)
The Custom Code Law establishes
the legal framework of the Romanian Custom Code.
The Custom Code Law enters
into force as of its publication in the Official Gazette of Romania.
(Official Gazette No. 350 of 19 April 2006)
Law No. 378 of 13 December 2005 (the "Law") regarding the amendment of Article 18 of the Law No. 300 of 28 June 2004 on the authorization of natural persons and family associations to perform independently commercial activities.
The Law amends the dispositions of the Article 18 of the Law No. 300 of 28 June 2004 by stipulating that the commercial activities falling under the provisions of the aforementioned law are the ones set out in the classification of the activities in the national economy (i.e CAEN Code).
The Law enters into force in three days as of its publication in the Official Gazette of Romania. (Official Gazette No. 1138 of 15 December 2005)
Law No. 302 of 24 October 2005 (the “Law”) for the amendment of the Law No. 31 of 16 November 1990, as further republished.
The Law aims to regulate the framework of the joint stock companies and partnerships limited by shares in terms of registered share capital, which must be no less than EUR 25,000, in RON equivalent, computed at the daily exchange rate of the National Bank of Romania at the date of subscription. Within one year as of the date of the publication of the law in the Official Gazette, the joint stock as well as partnerships limited by shares must increase their registered capital to minimum EUR 25,000. After the elapse of the aforementioned term, the Trade Registry shall request to the relevant law courts to dissolve the above mentioned companies that did not comply with the established rule.
The Law enters into force in three days as of its publication in the Official Gazette of Romania. (Official Gazette No. 953 of 27 October 2005)
Government Decision No. 1121 of 22 September 2005 for the amendment of Article 3 of Governmental Decision No. 755/2003 regarding the organization and operation of National Authority for Consumer Protection.
The decision provides for the institution entitled to perform controls/investigations with respect to food products, the National Authority for Sanitary-Veterinary Protection and Food Safety.
The decision enters into force as of its publication in the Official Gazette of Romania. (Official Gazette No. 886 of 4 October 2005)
Order No. 933 of 2 September 2005 of the Ministry of Health (the “Order”) regarding the suspension of the authorization procedures of pharmacies in urban areas, for a determined period.
The Order stipulates that the authorization procedures of pharmacies in urban areas shall be suspended until 31 December 2005.
The Order enters into force as of its publication in the Official Gazette of Romania. (Official Gazette No. 811 of 7 September 2005)
Law No. 240 of 15 July 2005 (the “Law”) regarding the micro-financing credit companies.
The Law provides for the incorporation and operation of the micro-financing credit companies.
The dispositions of the Law enter into force in three days of its publication in the Official Gazette of Romania. (Official Gazette No. 663 of 26 July 2005)
Government Emergency Ordinance No. 59 of 23 June 2005 (the “GEO”) regarding certain fiscal measures in order to enforce the Law No. 348 of 14 July 2004 on the redenomination of domestic currency.
The provisions of the GEO settles the calculation and registering in the accounting books of taxes, duties, contributions and other amounts due towards the Romanian State Budget.
The GEO dispositions enter into force as of its publication in the Official Gazette of Romania. (Official Gazette no. 59 of 29 June 2005)
Government Emergency Ordinance No. 47 of 10 June 2005 (the “GEO”) regarding certain measures to be implemented in order to enforce the Law No. 348 of 14 July 2004 on redenomination of domestic currency.
The GEO introduces other specifications pertaining to the calculation and payment in the new currency of incomes from wages, incomes similar in nature to wages and social insurance benefits.
The GEO enters into force as of 1 July 2005 (Official Gazette No. 492 of 10 June 2005).
Order No. 754 of 6 June 2005 of the Ministry of Public Finance and of the National Securities Commission No. 29 of 7 June 2005 (the “Orders”) on the approval of the norms on the application in accountancy of the operations of denominations for shareholders/parts of companies following Law No. 348 of 14 July 2005 on redenomination of domestic currency, as further amended.
The Orders provide for the obligation of the joint stock and limited liability companies to modify until 30 June 2005 the amount of the social capital in order for the nominal value of shares and social parts to be a multiple of 100 (old currency).
The Orders provisions enter into force as of its publication in the Official Gazette of Romania. (Official Gazette No. 518 of 17 June 2005)
Regulation for organization and operation of the National Office of the Register of Commerce and of the Register of Commerce offices (the “Regulation”.
According to the Regulation, the National Office of the Register of Commerce must keep a record of all the legal entities, individuals and family associations performing commercial activities.
The Regulation enters into force as of its publication in the Official Gazette of Romania. (Official Gazette No. 410bis of 15 May 2005)
Order No. 583 of 6 May 2005 of the Ministry of Public Finance (the “Order”) with respect to the establishment of the implementation procedure of article 32-38 of the Government Ordinance No. 59 of 22 August 2003 regarding certain categories of duty-free goods, as further amended.
According to the provisions of the Order, the capital goods and equipments for factories that are considered out of use in another country are duty-free, should these goods will have similar use within Romania.
The Order enters into force as of its publication in the Official Gazette of Romania. (Official Gazette No. 404 of 13 May 2005)
Government Decision No. 479 of 18 April 2003 (the “GEO”) on the approval of the Methodological Norms for enforcing the Government Emergency Ordinance No. 28 of 25 March 1999 on the obligation of the economic entities to use fiscal electronic marking devices, as further republished.
According to the GEO, all economic entities (i.e. natural/legal persons, family associations, other economic entities acting in the retail delivery of goods field and/or performing of services directly to the population) must use the fiscal electronic marking devices. Furthermore, the economic entities that do not fall under the stipulations of the GEO may choose to use the above mentioned devices.
The Government Decision No.479 of 18 April 2005 enters into force as of its publication in the Official Gazette of Romania. (Official Gazette No. 348 of 25 April 2005)
Government Emergency Ordinance No. 17 of 18 March 2005 (the “GEO”) on the establishment of certain measures with respect to the public central administration.
The GEO provides for the extension of the term for obtaining the approval from Government General Secretary regarding the company name containing words or expression such as: “national”, Romania”, “institute” and the assimilated words or expressions. Furthermore, the new deadline for obtaining such approval is 30 May 2005.
The GEO enters into force as of its publication in the Official Gazette of Romania. (Official Gazette No. 229 of 18 March 2005)
Law No. 1 of 21 February 2005 (the “Cooperatives Law”) on the incorporation and operation of cooperatives.
The Cooperatives Law sets forth the general legal framework for the incorporation and operation of the cooperative sector. The Cooperatives Law is applicable to any form of cooperatives, except for credit cooperatives and their form of associations. The Cooperatives Law also provides for two forms of cooperative companies, such as (i) cooperative company of first rank, which is a legal entity whose members are natural persons and (ii) cooperative company of second rank, whose members are both natural and legal persons. The minimum number of members into a cooperative company is five and the subscribed share capital fully paid upon incorporation is RON 500, divided into shares with a nominal value that cannot be less than RON 10.
The Cooperatives Law enters into force as of its Publication in the Official Gazette of Romania. (Official Gazette No. 172 of 28 February 2005)
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