LEGISLATIVE SUMMARY
MAIN RULES AND REGULATIONS ADOPTED
IN THE ECONOMIC, FINANCIAL, AND BANKING AREAS
IN 2005 and 2006
| Government Emergency Ordinance No. 79 of 18 October 2006 | regarding the
increase in passenger railway transport prices on the territory of Romania (Monitorul Oficial al României No. 875/26 October 2006). |
|---|---|
| Law No. 383 of 9 October 2006 | approves
Government Ordinance No. 33/2006 on some measures for complete the privatisation of Banca
Comerciala Româna (Monitorul Oficial al României No. 831/9 October 2006). |
| Order No. 21/514/20 September 2006 | issued by the
President of the Romanian Energy Regulatory Authority and the President of the National
Regulating Authority for Local Public Services approves the Methodology for granting
heating allowances and setting the national reference price for heating delivered to
households via centralised systems (Monitorul Oficial al României No. 815/3 October 2006). |
| Government Decision No. 1277/20 September 2006 | on mandating
the Authority for State Assets Recovery to conclude addenda to the BCR shares
sale-purchase contracts and other contractual documents for the privatisation of the said
bank (Monitorul Oficial al României No. 794/20 September 2006). |
| Government Emergency Ordinance No. 69/13 September 2006 | amends and
supplements Law No. 19/2000 on the public pension system and other social security
benefits (Monitorul Oficial al României No. 788/18 September 2006). |
| Government Decision No. 1160/6 September 2006 | approves some
documents necessary for completing the privatisation of Banca Comerciala Româna (BCR) (Monitorul Oficial al României No. 770/11 September 2006). |
| Government Ordinance No. 46/30 August 2006 | sets forth the
revision of the government budget for 2006 (Monitorul Oficial al României No. 745/31 August 2006). |
| Government Ordinance No. 42/16 August 2006 | sets forth the
revision of the state social security budget for 2006 (Monitorul Oficial al României No. 723/23 August 2006). |
| Order No. 1347/5/14 August 2006 | issued by the
Minister of Public Finance and the Governor of the National Bank of Romania on the
amendment and supplementation of Order No. 999/3/2003 issued by the Minister of Public
Finance and the Governor of the National Bank of Romania to approve the half-yearly
accounting reporting system for credit institutions, as subsequently amended and
supplemented (Monitorul Oficial al României No. 718/22 August 2006). |
| Order No. 71/9 August 2006 | issued by the
President of the National Securities Commission approves Regulation No. 14/2006 amending
Regulation No. 2/2006 on regulated markets and alternative trading systems (Monitorul Oficial al României No. 703/16 August 2006). |
| Order No. 68/4/7 August 2006 | issued by the
President of the National Securities Commission and the Governor of the National Bank of
Romania approves Regulation No. 12/3/2006 issued by the National Securities Commission and
the National Bank of Romania for the authorisation of agents in virtue of Law No.32/2006
on mortgage bonds (Monitorul Oficial al României No. 743/31 August 2006). |
| Government Ordinance No. 35 of 26 July 2006 | amends and
supplements Government Ordinance No. 92/2003 on the Tax Procedure Code (Monitorul Oficial al României No. 675/7 August 2006). |
| Government Ordinance No. 33 of 26 July 2006 | sets certain
measures for completing the privatisation of Banca Comerciala Româna (Monitorul Oficial al României No. 668/3 August 2006). |
| Order No. 69 of 20 July 2006 | issued by the
President of the National Securities Commission approves Regulation No. 13/2006 on
mortgage bonds (Monitorul Oficial al României No. 640/25 July 2006). |
| Law No. 343 of 17 July 2006 | amends and
supplements Law No. 571/2003 on the Tax Code (Monitorul Oficial al României No. 662/1 August 2006). |
| Law No. 338 of 17 July 2006 | approves
Government Emergency Ordinance No. 22/2006 supplementing Government Ordinance No. 92/2003
on the Tax Procedure Code ((Monitorul Oficial al României No. 629/20 July 2006). |
| Law No. 323 of 14 July 2006 | approves
Government Ordinance No. 3/2006 on pay rises to be granted in 2005 to budgetary-sector
employees whose pays are set pursuant to Government Emergency Ordinance No. 24/2000 on the
system of setting basic pays for budgetary-sector employees hired in virtue of employment
contracts and for the personnel whose pays are set pursuant to Annexes II and III to Law
No. 154/1998 on the system of setting basic pays for budgetary-sector employees and fringe
benefits for the remuneration of public dignity functions (Monitorul Oficial al României No. 624/19 July 2006). |
| Law No. 317 of 14 July 2006 | approves
Government Emergency Ordinance No. 33/2006 amending and supplementing Law No. 571/2003 on
the Tax Code (Monitorul Oficial al României No. 624/19 July 2006). |
| Order No. 67 of 13 July 2006 | issued by the
President of the National Securities Commission approves Regulation No. 11/2006 on
securitisation (Monitorul Oficial al României No. 610/14 July 2006). |
| Law No. 314 of 12 July 2006 | approves
Government Emergency Ordinance No. 21/2006 amending Law No. 571/2003 on the Tax Code (Monitorul Oficial al României No. 617/18 July 2006). |
| Law No. 287 of 6 July 2006 | amends and
supplements Government Ordinance No. 51/1997 on leasing operations and leasing companies (Monitorul Oficial al României No. 606/13 July 2006). |
| Law No. 280 of 6 July 2006 | approves
Government Emergency Ordinance No. 23/2006 amending and supplementing Government Ordinance
No. 39/1996 on the establishment and operation of the Bank Deposit Guarantee Fund (Monitorul Oficial al României No. 600/11 July 2006). |
| Order No. 1 121 of 4 July 2006 | issued by the
Minister of Public Finance on the implementation of International Financial Reporting
Standards (Monitorul Oficial al României No. 602/12 July 2006). |
| Law No. 266/29 June 2006 | approves
Government Ordinance No. 28/2006 regulating some tax and financial measures (Monitorul Oficial al României No. 580/5 July 2006). |
| Government Emergency Ordinance No. 52/28 June 2006 | on the revision
of the government budget for 2006 (Monitorul Oficial al României No. 568/30 June 2006). |
| Government Emergency Ordinance No. 46/28 June 2006 | amends Art. 80
paras. (1) and (2) of Law No. 19/2000 on the public pension system and other social
insurance benefits (Monitorul Oficial al României No. 565/29 June 2006). |
| Law No. 261/27 June 2006 | approves
Government Emergency Ordinance No. 26/2006 on the supplementation of Art. 16 of Law No.
137/2002 on measures to speed up privatisation (Monitorul Oficial al României No. 573/3 July 2006). |
| Law No. 254/23 June 2006 | approves
Government Emergency Ordinance No. 32/2006 on the revision of the government budget for
2006 (Monitorul Oficial al României No. 563/29 June 2006). |
| Law No. 237/13 June 2006 | approves
Government Emergency Ordinance No. 199/2005 regarding measures to continue privatisation
of the Savings Bank - CEC (Monitorul Oficial al României No. 521/16 June 2006). |
| Order No. 635/8 June 2006 | issued by the
President of the National Regulatory Authority in Natural Gas Sector sets the regulated
price for providing natural gas transport (Monitorul Oficial al României No. 524/16 June 2006). |
| Order No. 538 of 22 May 2006 | issued by the
President of the National Institute of Statistics sets forth the Methodology for shifting
from gross domestic product to gross domestic income (Monitorul Oficial al României No. 478/2 June 2006). |
| Law No. 204 of 22 May 2006 | governs voluntary pension schemes (Monitorul Oficial al României No. 470/31 May 2006). |
| Law No. 187 of 16 May 2006 | approves
Government Emergency Ordinance No. 18/2006 supplementing Art. 3 of Government Emergency
Ordinance No. 59/2005 on some financial and tax measures for the enforcement of Law No.
348/2004 on domestic currency redenomination (Monitorul Oficial al României No. 443/23 May 2006). |
| Law No. 180 of 16 May 2006 | approves
Government Ordinance No. 1/2006 regulating some financial and tax measures relating to
social insurance (Monitorul Oficial al României No. 443/23 May 2006). |
| Law No. 172 of 16 May 2006 | supplements Law
No. 136/1995 on insurance and reinsurance in Romania (Monitorul Oficial al României No. 436/19 May 2006). |
| Law No. 165 of 15 May 2006 | approves
Government Emergency Ordinance No. 146/2005 amending and supplementing Law No. 96/2000 on
the organisation and operation of EXIMBANK - joint-stock company and the specific
instruments to support foreign trade (Monitorul Oficial al României No. 430/18 May 2006). |
| Law No. 164 of 15 May 2006 | amends Art. 17
para. (2) of Law No. 31/1990 on commercial companies (Monitorul Oficial al României No. 430/18 May 2006). |
| Law No. 159 of 15 May 2006 | approves
Government Emergency Ordinance No. 200/2005 amending Government Ordinance No. 94/2004
regulating some financial measures (Monitorul Oficial al României No. 433/19 May 2006). |
| Law No. 147 of 15 May 2006 | approves
Government Emergency Ordinance No. 170/2005 supplementing Art. 8 of Government Emergency
Ordinance No. 4/2005 on recalculation of pensions in the public system, resulting from the
former state social security system (Monitorul Oficial al României No. 427/17 May 2006). |
| Law No. 141 of 15 May 2006 | approves
Government Ordinance No. 13/2006 approving Romania's public indebtedness ceiling for 2006 (Monitorul Oficial al României No. 427/17 May 2006). |
| Law No. 131 of 12 May 2006 | amends para. 2
under Art. 173 of Law No. 58/1998 on banking activity (Monitorul Oficial al României No. 420/16 May 2006). |
| Law No. 115 of 4 May 2006 | amends and
supplements Law No. 416/2001 on the minimum guaranteed income (Monitorul Oficial al României No. 408/11 May 2006). |
| Law No. 113 of 4 May 2006 | approves
Government Emergency Ordinance No. 201/2005 amending and supplementing Law No. 32/2000 on
insurance companies and insurance supervision (Monitorul Oficial al României No. 421/16 May 2006). |
| Order No. 666/28 April 2006 | issued by the
Minister of Public Finance amends and supplements the Regulation on operations in
dematerialised government securities (Monitorul Oficial al României No. 401/9 May 2006). |
| Law No. 106/25 April 2006 | approves
Government Emergency Ordinance No. 154/2005 on revision of the government budget for 2005 (Monitorul Oficial al României No. 369/27 April 2006). |
| Law No. 97/25 April 2006 | approves
Government Ordinance No. 41/2005 regulating some financial measures (Monitorul Oficial al României No. 375/2 May 2006). |
| Government Emergency Ordinance No. 33/19 April 2006 | amends and
supplements Law No. 571/2003 on the Tax Code (Monitorul Oficial al României No. 374/2 May 2006). |
| Government Emergency Ordinance No. 32/19 April 2006 | on revision of
the government budget for 2006 (Monitorul Oficial al României No. 375/2 May 2006). |
| Government Emergency Ordinance No. 23/22 March 2006 | amends and
supplements Government Ordinance No. 39/1996 on the establishment and operation of Bank
Deposit Guarantee Fund (Monitorul Oficial al României No. 278/28 March 2006). |
| Order No. 27/21 March 2006 | issued by the
President of the National Securities Commission approves Instructions No. 3/2006 on the
registration of financial derivatives with the National Securities Commission (Monitorul Oficial al României No. 281/29 March 2006). |
| Order No. 23/9 March 2006 | issued by the
President of the National Securities Commission approves Regulation No. 1/2006 on the
issuers and operations in securities (Monitorul Oficial al României No. 312/6 April 2006). |
| Law No. 46/8 March 2006 | amends
Government Ordinance No. 66/1997 on the regime of foreign investment in Romania by means
of purchasing government securities (Monitorul Oficial al României No. 238/16 March 2006). |
| Government Decision No. 312/8 March 2006 | alters the
Methodological Norms for the enforcement of Law No. 76/2002 on unemployment insurance
system and promotion of employment, as approved by Government Decision No. 174/2002 (Monitorul Oficial al României No. 235/15 March 2006). |
| Decision No. 252/1 March 2006 | issued by the
President of the National Regulatory Authority in Natural Gas Sector modifies the criteria
and methods for approving prices and setting regulated prices in natural gas sector (Monitorul Oficial al României No. 207/7 March 2006). |
| Law No. 33/1 March 2006 | on mortgage
loan banks (Monitorul Oficial al României No. 200/3 March 2006). |
| Law No. 32/1 March 2006 | on mortgage
bonds. It sets forth the conditions and the general framework for the issue of mortgage
bonds, and governs the rights and obligations of holders of such bonds (Monitorul Oficial al României No. 264/23 March 2006). |
| Law No. 31/1 March 2006 | on receivables
securitisation. It sets forth the principles and the general framework for the use of
receivables in order to be granted financing through securitisation, and governs the
rights and obligations of the parties in a securitisation operation (Monitorul Oficial al României No. 225/13 March 2006). |
| Order No. 76/22 February 2006 | issued by the
Minister of Economy and Commerce sets the weighted average price of imported natural gas,
applicable in 2006 Q1 to the sales of domestically-produced natural gas from new resources
(Monitorul Oficial al României No. 199/2 March 2006). |
| Government Emergency Ordinance No. 18/22 February 2006 | supplements
Art. 3 of Government Emergency Ordinance No. 59/2005 regarding some financial and tax
measures for the enforcement of Law No. 348/2004 on domestic currency redenomination (Monitorul Oficial al României No. 189/28 February 2006). |
| Order No. 15/9 February 2006 | issued by the
President of the National Securities Commission approves Regulation No. 2/2006 on
regulated markets and alternative trading systems (Monitorul Oficial al României No. 228/14 March 2006). |
| Order No. 14/2 February 2006 | issued by the
President of the National Securities Commission approves Regulation No. 5/2006 on the
Public Register of the National Securities Commission (Monitorul Oficial al României No. 157/20 February 2006). |
| Order No. 12/1 February 2006 | issued by the
President of the National Securities Commission approves Regulation No. 3/2006 on the
licensing, organisation and operation of the Investor Compensation Fund (Monitorul Oficial al României No. 124/9 February 2006). |
| Regulation No. 1 | issued by the
Bank Deposit Guarantee Fund amends and supplements the Statute of the Bank Deposit
Guarantee Fund, as well as some regulations issued by the said institution (Monitorul Oficial al României No. 120/8 February 2006). |
| Government Ordinance No. 13/26 January 2006 | approves
Romania's public indebtedness ceiling. For 2006, Romania's foreign public indebtedness
ceiling shall amount to EUR 4,300 million and its domestic public indebtedness ceiling
shall stand at ROL 9,600 million (Monitorul Oficial al României No. 83/30 January 2006). |
| Government Ordinance No. 3/12 January 2006 | sets forth the
pay rises to be granted during 2006 to public sector employees whose wages are granted
consistent with Government Emergency Ordinance No. 24/2000 on the basic wage setting
system for the contractual employees in the public sector and wage earners remunerated in
compliance with Annexes No. II and III to Law No. 154/1998 on the basic wage setting
system in the public sector and the remuneration of public dignity functions (Monitorul Oficial al României No. 59/23 January 2006). |
| Law No. 15/11 January 2006 | approves
Government Emergency Ordinance No. 59/2005 regarding some financial and tax measures for
the entry into force of Law No. 348/2004 on domestic currency redenomination (Monitorul Oficial al României No. 56/20 January 2006). |
| Government Emergency Ordinance No. 203/22 December 2005 | amends and
supplements Law No. 571/2003 on the Tax Code (Monitorul Oficial al României No. 1193/30 December 2005). |
| Government Emergency Ordinance No. 201/22 December 2005 | amends and
supplements Law No. 32/2000 on insurance undertakings and insurance supervision (Monitorul Oficial al României No. 1191/29 December 2005). |
| Government Emergency Ordinance No. 199/22 December 2005 | sets some
measures to carry on privatisation of the Savings Bank - C.E.C. (Monitorul Oficial al României No. 1190/29 December 2005). |
| Government Decision No. 1770/22 December 2005 | sets the
indexation of the monthly level of the guaranteed minimum income, of the monthly social
security benefit granted to the spouses of youths fulfilling their compulsory military
service, and of the allowance granted for newborns, as laid down by Law No. 416/2001 on
the minimum guaranteed income (Monitorul Oficial al României No. 1182/28 December 2005). |
| Government Decision No. 1766/22 December 2005 | sets the
whole-economy gross guaranteed minimum wage. Starting with 1 January 2006, the
whole-economy gross minimum wage shall be of RON 330 per month for a full working schedule
of 169.333 hours per month on average in 2006, representing RON 1.95 per hour (Monitorul Oficial al României No. 1182/28 December 2005). |
| Government Decision No. 1765/22 December 2005 | sets the
indexation of some household incomes starting with January 2006 (Monitorul Oficial al României No. 1182/28 December 2005). |
| Government Decision No. 1723/21 December 2005 | alters Art. 5
of the Methodological Norms for enforcing Law No. 83/1997 on the privatisation of banks
where the State is a shareholder, as approved by Government Decision No. 458/1997 (Monitorul Oficial al României No. 1192/29 December 2005). |
| Order No. 3129/21 December 2005 | issued by the
President of the National Insurance Commission approves the accounting regulations
consistent with EU Directives specific to the insurance sector (Monitorul Oficial al României No. 1187/29 December 2005). |
| Order No. 1952/16 December 2005 | issued by the
Minister of Public Finance approves the Methodological Norms on the completion of budget
execution for 2005 (Monitorul Oficial al României No. 1164/22 December 2005). |
| Order No. 50/15 December 2005 | issued by the
President of the Romanian Energy Regulatory Authority alters Order No. 30/2004 issued by
the President of the Romanian Energy Regulatory Authority for the approval of the
price-setting methodology for electricity transport services (Monitorul Oficial al României No. 1164/22 December 2005). |
| Law No. 380/15 December 2005 | Law on the
state social security budget for 2006 (Monitorul Oficial al României No. 1150/19 December 2005). |
| Law No. 379/15 December 2005 | Law on the
government budget for 2006 (Monitorul Oficial al României No. 1151/19 December 2005). |
| Government Emergency Ordinance No. 181/14 December 2005 | supplements
Art. 1 of Government Emergency Ordinance No. 59/2005 on some financial and tax measures
for the enforcement of Law No. 348/2004 on domestic currency redenomination (Monitorul Oficial al României No. 1171/23 December 2005). |
| Law No. 371/13 December 2005 | approves
Government Emergency Ordinance No. 65/2005 on the amendment and supplementation of Law No.
53/2003 - Labour Code Act (Monitorul Oficial al României No. 1147/19 December 2005). |
| Government Decision No. 1585/11 December 2005 | approves the
final draft of the sale-purchase agreement of the government's equity stake in Banca
Comerciala Româna (Monitorul Oficial al României No. 1117/12 December 2005). |
| Government Emergency Ordinance No. 174/8 December 2005 | regulates some
financial issues for 2005. It establishes the measures concerning recapitalisation of
Banca de Export-Import a României EXIMBANK and the financial measures in the budgetary
field (Monitorul Oficial al României No. 1120/12 December 2005). |
| Law No. 354/2 December 2005 | approves
Government Emergency Ordinance No. 67/2005 on the revision of the state social security
budget for 2005 (Monitorul Oficial al României No. 1098/6 December 2005). |
| Law No. 353/2 December 2005 | approves
Government Emergency Ordinance No. 66/2005 on the revision of the government budget for
2005 (Monitorul Oficial al României No. 1092/5 December 2005). |
| Government Emergency Ordinance No. 165/24 November 2005 | amends
Government Ordinance No. 92/2003 on the Tax Procedure Code (Monitorul Oficial al României No. 1100/6 December 2005). |
| Government Decision No. 1 456/24 November 2005 | sets forth some
measures concerning the realignment of public pensions arising from the former state
social security system (Monitorul Oficial al României No. 1075/29 November 2005). |
| Order No. 71/23 November 2005 | issued by the
President of the National Securities Commission approves Regulation No. 16/2005 on the
secondary market for government securities, organised as a regulated market (Monitorul Oficial al României No. 1097/6 December 2005). |
| Order No. 70/22 November 2005 | issued by the
President of the National Securities Commission approves Regulation No. 15/2005 on
financial investment services (Monitorul Oficial al României No. 1097/6 December 2005). |
| Order No. 1 752/17 November 2005 | issued by the
Minister of Public Finance approves the Accounting Regulations harmonised with EU
Directives (Monitorul Oficial al României No. 1080/30 November 2005). |
| Government Emergency Ordinance No. 155/11 November 2005 | on the revision
of the social security budget for 2005 (Monitorul Oficial al României No. 1011/15 November 2005). |
| Government Emergency Ordinance No. 154/11 November 2005 | on the revision
of the government budget for 2005 (Monitorul Oficial al României No. 1012/15 November 2005). |
| Government Decision No. 1 397/10 November 2005 | establishes the
openness of the domestic natural gas market. Starting with 1 January 2006, the openness of
the domestic natural gas market is set at 65 percent of total domestic consumption (Monitorul Oficial al României No. 1036/22 November 2005). |
| Law No. 330/10 November 2005 | approves
Government Emergency Ordinance No. 118/2005 on amending Government Ordinance No. 9/2005
concerning pay rises to be granted in 2005 to budgetary-sector employees whose pays are
set pursuant to Government Emergency Ordinance No. 24/2000 on the system of setting basic
pays for budgetary-sector employees hired based on employment contracts and for the
personnel whose pays are set pursuant to Annexes II and III to Law No. 154/1998 on the
system of setting basic pays for budgetary-sector employees and fringe benefits for the
remuneration of persons holding public dignity functions (Monitorul Oficial al României No. 1021/17 November 2005). |
| Law No. 325/10 November 2005 | approves
Government Emergency Ordinance No. 54/2005 on amending Art. 48 of Government Emergency
Ordinance No. 26/2004 regarding some measures to be taken for the completion of
privatisation of companies in the portfolio of the Authority for Privatisation and
Management of State Ownership, as well as for the strengthening of privatisation (Monitorul Oficial al României No. 1021/17 November 2005). |
| Law No. 321/10 November 2005 | approves
Government Emergency Ordinance No. 98/2005 on amending Art. 81 of Law No. 19/2000 on
public pension system and other social security rights (Monitorul Oficial al României No. 1013/15 November 2005). |
| Law No. 313/10 November 2005 | approves
Government Emergency Ordinance No. 50/2005 on the establishment, organisation and
operation of the Private Pension System Supervisory Commission (Monitorul Oficial al României No. 1010/15 November 2005). |
| Government Emergency Ordinance No. 146/3 November 2005 | amends and
supplements Law No. 96/2000 on the organisation and operation of EXIMBANK - joint-stock
company and the specific instruments to support foreign trade (Monitorul Oficial al României No. 1003/11 November 2005). |
| Government Decision No. 1 334/3 November 2005 | amends Art. 5
of the Methodological Norms for enforcing Law No. 83/1997 on the privatisation of banks in
which the State is shareholder, as approved by Government Decision No. 458/1997 (Monitorul Oficial al României No. 987/8 November 2005). |
| Government Emergency Ordinance No. 145/27 October 2005 | sets forth the
use of some privatisation proceeds in foreign currency (Monitorul Oficial al României No. 960/28 October 2005). |
| Order No. 60/24 October 2005 | issued by the
President of the National Securities and Exchange Commission approves Regulation No.
13/2005 on the licensing and operation of the central depository institution, clearing
houses and central counterparties (Monitorul Oficial al României No. 983/4 November 2005). |
| Law No. 302/24 October 2005 | amends and
supplements Law No. 31/1990 regarding commercial companies (Monitorul Oficial al României No. 953/27 October 2005). |
| Government Emergency Ordinance No. 144/18 October 2005 | amends and
supplements Law No. 76/2002 on unemployment insurance system and promotion of employment (Monitorul Oficial al României No. 969/1 November 2005). |
| Government Decision No. 1254/18 October 2005 | sets at RON
107.50 per Gcal (including VAT) the national reference price for heating delivered to
households via centralised systems for the purpose of ensuring home heating and hot water (Monitorul Oficial al României No. 938/20 October 2005). |
| Government Ordinance No. 66/1997 | on foreign
investment in Romania through purchase of government securities (Monitorul Oficial al României No. 928/18 October 2005). |
| Law No. 285/11 October 2005 | approves
Government Emergency Ordinance No. 42/2005 on some reorganisation measures ahead of
privatisation of the Savings Bank - C.E.C. (Monitorul Oficial al României No. 917/13 October 2005). |
| Law No. 283/5 October 2005 | approves
Government Emergency Ordinance No. 61/2005 on amending and supplementing Law No. 136/1995
concerning insurance and reinsurance in Romania (Monitorul Oficial al României No. 897/7 October 2005). |
| Government Ordinance No. 92/2003 | on the Tax Code
(Monitorul Oficial al României No. 863/26 September 2005). |
| Order No. 1408/22 September 2005 | issued by the
Minister of Public Finance approves the Regulation on transactions in paperless government
securities, which governs: the primary market for government securities; the secondary
market for government securities; market makers; depository institution of government
securities (Monitorul Oficial al României No. 881/30 September 2005). The following piece of legislation was republished: |
| Law No. 256/21 September 2005 | approves
Government Emergency Ordinance No. 47/2005 on measures to be taken for the enforcement of
Law No. 348/2004 on domestic currency redenomination (Monitorul Oficial al României No. 861/23 September 2005). |
| Order No. 1376/19 September 2005 | issued by the
Minister of Public Finance establishes the interest rates applied by the State Treasury.
The interest rate on demand deposits with the State Treasury and on Treasury certificates
redeemed prior to their due date or changed into demand deposits is set at 0.5 percent per
annum; the interest rates on one-month and three-month time deposits are set at 6 percent
per annum and 7 percent per annum respectively; the interest rate on Treasury certificates
that were changed into time deposits with the State Treasury is set at 7 percent per annum
(Monitorul Oficial al României No. 861/23 September 2005). |
| Communiqué issued by the Bank Deposit Guarantee Fund | sets the list
of credit institutions whose depositors benefit from insurance of deposits made with these
institutions (Monitorul Oficial al României No. 845/19 September 2005). |
| Order No. 3120/30 August 2005 | issued by the
President of the Insurance Supervisory Commission sets forth the entry into force of the
Norms on limiting credit risk underwriting (Monitorul Oficial al României No. 818/9 September 2005). |
| Government Ordinance No. 50/25 August 2005 | supplements
Annex 1 to Government Ordinance No. 41/1994 on authorisation of the payment of
subscription quotas to international intergovernmental organisations Romania is part of,
and approves payment of the annual subscription quota arising from Romania's being a
member in its own right of the LEED Programme led by the Organisation for Economic
Co-operation and Development (Monitorul Oficial al României No. 793/31 August 2005). |
| Government Decision No. 934/11 August 2005 | approves the
Methodological Norms for the implementation of the provisions of Law No. 231/2005 on
fostering investment in agriculture (Monitorul Oficial al României No. 784/29 August 2005). |
| Order No. 1141/4/10/9 August 2005 | issued by the
Minister of Public Finance and the National Bank of Romania Governor modifies and
supplements Order No. 999/3/2003 issued by the Minister of Public Finance and the National
Bank of Romania Governor on the approval of the Half-yearly Accounting Reporting System
for credit institutions, as subsequently amended and supplemented (Monitorul Oficial al României No. 768/24 August 2005). |
| Law No. 249/22 July 2005 | amends and
supplements Law No. 64/1995 on judicial reorganisation and winding-up proceedings (Monitorul Oficial al României No. 678/28 July 2005). |
| Order No. 3114/17 July 2005 | issued by the
President of the Insurance Supervisory Commission approves the implementation of the Norms
on adjusted solvency calculation for insurance undertakings (Monitorul Oficial al României No. 615/15 July 2005). |
| Law No. 238/15 July 2005 | amends and
supplements Government Ordinance No. 39/1996 on the establishment and operation of the
Bank Deposit Guarantee Fund (Monitorul Oficial al României No. 672/27 July 2005). |
| Law No. 240/15 July 2005 | governs
micro-financing institutions. It sets forth the establishment of micro-financing
institutions and the manners in which such institutions are allowed to operate and form
associations (Monitorul Oficial al României No. 663/26 July 2005). |
| Government Decision No. 784/14 July 2005 | lays down the
interest due for late tax payment (Monitorul Oficial al României No. 691/1 August 2005). |
| Government Decision No. 806/14 July 2005 | approves the
Strategy for Privatisation of the Savings Bank - C.E.C. - joint-stock company (Monitorul Oficial al României No. 700/3 August 2005). |
| Law No. 231/13 July 2005 | regulates the
fostering of investment in agriculture. In order to boost investment in agriculture and in
some sectors related to the processing, warehousing, preserving and selling of produce, as
well as in other farm-related sectors, the Fund for crediting investment in agriculture
shall be set up for the Ministry of Agriculture, Forests and Rural Development (Monitorul Oficial al României No. 608/13 July 2005). |
| Order No. 977/8 July 2005 | issued by the
Minister of Public Finance approves the issue prospectuses for discount Treasury
certificates and interest-bearing government securities in 2005 Q3 (Monitorul Oficial al României No. 622/18 July 2005). |
| Order No. 978/8 July 2005 | issued by the
Minister of Public Finance approves the Guidelines for the implementation of provisions of
Government Emergency Ordinance No. 59/2005 on some tax and financial measures for the
entry into force of Law No. 348/2004 on domestic currency redenomination (Monitorul Oficial al României No. 651/22 July 2005). |
| Order No. 979/8 July 2005 | issued by the
Minister of Public Finance approves the Statute of the Savings Bank - C.E.C. - joint-stock
company (Monitorul Oficial al României No. 635/19 July 2005). |
| Government Emergency Ordinance No. 66/29 June 2005 | revises the
government budget for 2005 (Monitorul Oficial al României No. 577/5 July 2005). |
| Order No. 888/24 June 2005 | issued by the
Minister of Public Finance approves the Guidelines for the enforcement of Law No. 348/2004
on domestic currency redenomination by the State Treasury (Monitorul Oficial al României No. 555/29 June 2005). |
| Government Emergency Ordinance No. 61/23 June 2005 | amends and
supplements Law No. 136/1995 on insurance and reinsurance in Romania (Monitorul Oficial al României No. 562/30 June 2005). |
| Government Emergency Ordinance No. 59/23 June 2005 | sets forth tax
and financial measures for the enforcement of Law No. 348/2004 on domestic currency
redenomination (Monitorul Oficial al României No. 556/29 June 2005). |
| Order No. 3 115/20 June 2005 | issued by the
President of the Insurance Supervisory Commission approves the Norms on the Guarantee
Fund. The Norms set the establishment, destination and representation of the Insurance and
Reinsurance Guarantee Fund in Romania; the management and composition of the Fund's
budget; the procedure and conditions for making payments from the Fund's deposits, as well
as the methods to recover the paid amounts from the Fund (Monitorul Oficial al României No. 546/28 June 2005). |
| Order No. 3 106/13 June 2005 | issued by the
President of the Insurance Supervisory Commission sets forth the enforcement of Norms on
the Special Register of Assets including insurance technical reserves (Monitorul Oficial al României No. 531/22 June 2005). |
| Order No. 30/10 June 2005 | issued by the
President of the National Securities and Exchange Commission approves Regulation No.
5/2005 on the Public Register of the National Securities and Exchange Commission (Monitorul Oficial al României No. 539/24 June 2005). |
| Order No. 754/29/6/7 June 2005 | issued by the
Minister of Public Finance and the President of the National Securities and Exchange
Commission approves the Norms on the recognition of the redenomination of the face value
of shares/subscribed share capital/mutual fund units following the enforcement of Law No.
348/2004 on domestic currency redenomination, as subsequently amended and supplemented (Monitorul Oficial al României No. 518/17 June 2005). |
| Government Emergency Ordinance No. 47/1 June 2005 | sets the
measures to be taken for enforcement of Law No. 348/2004 on domestic currency
redenomination (Monitorul Oficial al României No. 492/10 June 2005). |
| Government Emergency Ordinance No. 42/26 May 2005 | lays down the
measures for the reorganisation of the Savings Bank (Casa de Economii si Consemnatiuni -
C.E.C.) ahead of privatisation (Monitorul Oficial al României No. 463/1 June 2005). |
| Order No. 583/6 May 2005 | issued by the
Minister of Public Finance sets forth the Procedure for Enforcement of the provisions of
Articles 32-38 of Government Ordinance No. 59/2003 regarding some categories of goods
exempt from customs duty, as approved and amended by Law No. 545/2003, as amended and
supplemented subsequently (Monitorul Oficial al României No. 404/13 May 2005). |
| Government Decision No. 410/5 May 2005 | amends and
supplements the Procedures on the access to employment-boosting measures, financing
methods and guidelines for their enforcement, as approved by Government Decision No.
377/2002 (Monitorul Oficial al României No. 406/13 May 2005). |
| Law No. 112/3 May 2005 | approves
Government Ordinance No. 9/2005 on pay rises to be granted in 2005 to budgetary-sector
employees whose pays are set pursuant to Government Emergency Ordinance No. 24/2000 on the
system of setting basic pays for budgetary-sector employees hired based on employment
contracts and for the personnel whose pays are set pursuant to Annexes II and III to Law
No. 154/1998 on the system of setting basic pays for budgetary-sector employees and fringe
benefits for the remuneration of public dignity functions (Monitorul Oficial al României No. 377/5 May 2005). |
| Law No. 101/3 May 2005 | approves
Government Ordinance No. 5/2005 amending para. (1) of Art. 6 of Law No. 348/2004 on
domestic currency redenomination (Monitorul Oficial al României No. 378/5 May 2005). |
| Order No. 507/20 April 2005 | issued by the
minister of public finance approves Central Tax Commission's Decision No. 1 of 18 March
2005 on the approval of solutions relative to the unitary enforcement of provisions on
excise duties, VAT and tax procedure-related issues (Monitorul Oficial al României No. 360/27 April 2005). |
| Government Decision No. 316/14 April 2005 | approves the
statistical research programme for 2005 drafted by the National Institute of Statistics (Monitorul Oficial al României No. 383/6 May 2005). |
| Order No. 467/14 April 2005 | issued by the
minister of public finance approves the Guidelines on the establishment and submission of
public institutions' financial statements in 2005. Starting with the financial statements
for 2005 Q1, public institutions shall revalue monetary items expressed in foreign
exchange (deposits and similar items, claims, debts) at the exchange rate announced by the
National Bank of Romania, valid for the last reporting day. The deadline for submission of
financial statements related to 2005 Q1 is 16 May 2005 (Monitorul Oficial al României No. 351/26 April 2005). |
| Order No. 3104/13 April 2005 | issued by the
president of the Insurance Supervisory Commission approves the Norms on the establishment,
management and use of the guarantee fund (Monitorul Oficial al României No. 321/15 April 2005). |
| Order No. 102 094/34/15/7 April 2005 | issued by the
minister of economy and commerce and the president of the National Agency for Mineral
Resources approves the reference price of natural gas extracted in Romania starting 2005
Q2. As from April 2005, the reference price of natural gas extracted in Romania is ROL
3,640, 233/1000 Nm3 (Monitorul Oficial al României No. 340/21 April 2005). |
| Law No. 79/7 April 2005 | approves
Government Ordinance No. 4/2005 on the approval of Romania's public indebtedness ceiling
for 2005 (Monitorul Oficial al României No. 309/13 April 2005). |
| Order No. 384/1 April 2005 | issued by the
minister of public finance governs the interest rates applied by the State Treasury to
time deposits. Starting with 6 April 2005, the interest rate on Treasury certificates that
were changed into time deposits with the State Treasury is set at 10 percent per annum (Monitorul Oficial al României No. 285/5 April 2005). |
| Law No. 70/31 March 2005 | approves
Government Ordinance No. 95/2004 on settling some financial matters. The Government
Ordinance approves the increase in public spending and public deficit for 2004 by ROL
930.6 billion, and in the budgetary reserve fund available to the Government by ROL 970.6
billion (Monitorul Oficial al României No. 283/5 April 2005). |
| Government Emergency Ordinance No. 24/24 March 2005 | amends and
supplements Law No. 571/2003 on the Tax Code (Monitorul Oficial al României No. 263/30 March 2005). |
| Order No. 51/21 March 2005 | issued by the
President of the Competition Council approves the enforcement of Instructions regarding
the interest rate applied in the case of recovery or repayment of unlawful or prohibited
grant-in-aid. When the reference rate of the National Bank of Romania increases or
decreases by more than 5 percentage points as compared to the established interest rate,
the interest rate applied in the case of recovery and repayment of unlawful or prohibited
grant-in-aid shall be changed accordingly (Monitorul Oficial al României No. 253/25 March 2005). |
| Law No. 48/17 March 2005 | approves
Government Emergency Ordinance No. 111/2003 on the use of proceeds from privatisation and
realisation of banks' non-performing assets. The proceeds that the Authority for State
Assets Recovery collected from the realisation of banks' non-performing assets, after the
deduction of outlays envisaged by the institution's budget and made in accordance with the
legal provisions in force, shall be used for the redemption of government securities to
lower domestic public debt (Monitorul Oficial al României No. 239/22 March 2005). |
| Government Decision No. 184/9 March 2005 | approves the
Strategy for fostering privatisation and investment for companies in the portfolio of the
Ministry of Economy and Commerce for 2005, as well as other measures for its
implementation (Monitorul Oficial al României No. 255/28 March 2005). |
| Order No. 246/4 March 2005 | issued by the
minister of public finance approves the Methodological norms on the use and filling in of
the payment order for the State Treasury (Monitorul Oficial al României No. 206/10 March 2005). |
| Law No. 11/28 February 2005 | approves
Government Emergency Ordinance No. 83/2004 for granting heating allowances and for
amending Art. 1 of Government Emergency Ordinance No. 162/1999 on setting the national
reference price for heating delivered to households via centralised systems (Monitorul Oficial al României No. 184/3 March 2005). |
| Law No. 13/28 February 2005 | approves
Government Emergency Ordinance No. 85/2004 amending Art. 15 of Government Emergency
Ordinance No. 18/2004 for completing the sale of packages of shares in Banca Comerciala
Româna to the European Bank for Reconstruction and Development and the International
Finance Corporation, as well as to the Employees Association of Banca Comerciala Româna (Monitorul Oficial al României No. 182/2 March 2005). |
| Order No. 34/9 February 2005 | issued by the
Minister of Economy and Commerce refers to the calculation of the weighted average price
for natural gas imports in 2004, applicable to the sales of domestic natural gas produced
in 2005. In 2005, sales of domestically-produced natural gas shall be performed by
negotiating their price up to 80 percent at most of the weighted average price for natural
gas imports in 2004, calculated at USD 150.11 per 1,000 m3. The price expressed in ROL
shall be determined based on the ROL/USD exchange rate on the payment date (Monitorul Oficial al României No. 149/18 February 2005). |
| Order No. 5/10 February 2005 | issued by the
President of the National Securities and Exchange Commission approves Instructions No.
2/2005 issued by the President of the National Securities and Exchange Commission on
taking some measures in order for financial investment companies (FIC) to comply with the
provisions of Law No. 297/2004 on the capital market (Monitorul Oficial al României No. 136/14 February 2005). |
| Government Decision No. 84/3 February 2005 | amends and
supplements the Methodological Norms for the enforcement of Law No. 571/2003 on Tax Code,
as approved by Government Decision No. 44/2000 (Monitorul Oficial al României No. 147/18 February 2005). |
| Order No. 4/3 February 2005 | issued by the
President of the National Securities and Exchange Commission approves Instructions No.
1/2005 amending and supplementing Instructions No. 4/2004 issued by the President of the
National Securities and Exchange Commission on some temporary measures taken for the
enforcement of Law No. 297/2004 governing the capital market (Monitorul Oficial al României No. 123/8 February 2005). |
| Government Emergency Ordinance No. 4/3 February 2005 | lays down the
recalculation of public pensions arising from the former state social security system.
Pensions shall be recalculated by setting the average annual scoring and the amount of
each pension, abiding by the provisions of Law No. 19/2000 (Monitorul Oficial al României No. 119/7 February 2005). |
| Agreement No. 15570/1/31 January 2005 | concluded by
the Ministry of Public Finance and the National Bank of Romania refers to: issuance of and
any other operations in government securities; the responsibilities of the Ministry of
Public Finance regarding any other issue of government securities launched subsequent to
concluding this Agreement; the responsibilities of the National Bank of Romania regarding
payments, registration, storage and transfer, in compliance with this Agreement; the issue
prospectus and the official communiqué; payment flaws and the related remedial measures (Monitorul Oficial al României No. 134/14 February 2005). |
| Government Ordinance No. 5/20 January 2005 | alters para.
(1) of Art. 6 of Law No. 348/2004 on redenomination of domestic currency. Starting 1 July
2005, the persons referred to in Art. 1 of Law No. 82/1991 - Accounting Act, as
republished, shall prepare financial statements using the RON alone (Monitorul Oficial al României No. 84/25 January 2005). |
| Government Ordinance No. 4/20 January 2005 | sets Romania's
public indebtedness ceiling at EUR 3,500 million. For 2005, Romania's domestic public
indebtedness ceiling shall be of ROL 110,000 billion (Monitorul Oficial al României No. 84/25 January 2005). |
| Order No. 21/17 January 2005 | issued by the
Minister of Public Finance on the temporary discontinuation of issues of Treasury
certificates sold by the State Treasury. This Order sets, effective 17 January 2005, the
interest rate on Treasury certificates converted into term deposits with the State
Treasury at 12.5 percent per annum; the interest on demand deposits with the State
Treasury at 1.5 percent per annum, and the interest rate on Treasury certificates
converted into demand deposits at 1.5 percent per annum (Monitorul Oficial al României No. 42/13 January 2005). |