___________________________________ * Republished under Article VI of the Law no.147 of July 30, 2015 - Official Gazette of the Republic, 2015 nr.224-233, art.451.
Amended by laws of the Republic of Moldova:
LP1009-XIII of 22.10.96, MO80 / 12.12.96
LP1554-XIII of 25.02.98, MO44 / 21.05.98
LP165-XIV 21.10.98, MO100 / 11.12.98
LP248-XIV of 12.24.98, MO5 /
01.21.99 HCC9 of 02/18/99, MO22 / 03.04.99
LP378-XIV of 30.04.99, MO50-52 / 05.20.99, art.234
LP1338-XIV of 10.27.00, MO146 / 17.11.00
LP330-XV of 07.24.03, MO170 / 08.08.03, Article 709
LP136-XV of 06.05.04, MO91-95 / 11.06.04, art.482
LP154-XVI of 21.07.05, MO126-128 / 09.23.05, art.611
LP191-XVI of 30.06. 06 MO116-119 / 28.07.06, 28.07.06 art.541 of -XVI
LP268, MO142-145 / 08.09.06, art.702
LP382-XVI of 12.07.06, MO195-198 / 22/12/06, art.926
LP231-XVI of 02.11.07, MO180-183 / 23.11.07, art.693
LP273-XVI of 07.12.07, MO84-85 / 13.05.08, art. 288
LP109-XVI of 16.05.08, MO107-109 / 06.20.08, LP108-XVIII of art.419
17.12.09, MO193-196 / 29.12.09, art.609;
01.01.10 effect LP127-XVIII of 23/12/09, MO197-200 / 31.12.09, art.664 of LP63
23.04.10, MO75-77 / 5.18.10, 213
LP181 from 19/12/11, MO1-6 / 01.06.12, article 4;
01.03.12 LP33 effect from 06.03.12, MO99-102 / 25.05.12, LP31 of 330
07.03.13, MO69-74 / 05.04.13, art.223 of HCC31
01/10/13, MO252-257 / 11.8.13, 38;
10.01.13 LP343 effect from 24.12.13, MO17-23 / 24.1.14, 54
LP108 from 6/19/14, MO238-246 / 15.08.14, art.539 of LP187
28/09/14, MO310-312 / 10.10.14, 30.07.15 art.626 of
LP147, MO224-233 / 21.08.15, art.451



Parliament adopts this law.


GENERAL Chapter IDISPOZIŢII
Article 1. Legal status of National Bank of

Moldova (1) National Bank of Moldova (hereinafter - the Bank) is the central bank of the country.
(2) The National Bank is an autonomous public legal entity and is responsible to the Parliament.
(3) The National Bank is not subject to registration in the state register of enterprises and organizations in the State Register.
(4) The National Bank may open branch offices and representative offices in the country and abroad where necessary.

Article 2. Definitions For the purposes of this law the following terms are used:
Bank - that financial institution in the business of accepting deposits natural or legal persons or their equivalents that are transferable by different payment, and using such funds in whole or in part to make loans or investments for the account and risk.
Requirement - a claim for assets or other values, submitted by a person to another person requirement to pay for debt repayment or other forms of payment obligations.
Claim - any negotiable instrument of debt or any equivalent instrument, and any negotiable instrument giving the right to acquire another negotiable debt security by subscription or exchange. Claims may be in the form of negotiable certificate or registration ledger.
Financial institution - legal entity engaged in the business of accepting deposits or their equivalents, that are not transferable by different payment instruments, and using such funds in whole or in part to make loans or investments for the account risk.
Monetary liabilities - all liabilities reflected in the balance sheet of the National Bank, excluding commitments to the Government and to the International Monetary Fund.
Order - an obligatory directive issued by the National Bank in the implementation of this Law, on one or more financial institutions that constitute less than a class of financial institutions.
Base rate - interest rate monetary policy established by the Executive Committee and published regularly by the National Bank.
Recommendation - guidance of the National Bank without obligatory power.
Regulation - an obligatory directive issued by the National Bank in order to exercise this law, for one or more categories of financial institutions and other legal entities and individuals.

Article 3. Jurisdiction The jurisdiction of the National Bank National Bank hold:
a) enter into contracts and issue obligations;
B) acquire and dispose of movable and immovable property in order to perform its duties and for its operating needs;
C) bring actions in court and participating in the trial as a subject.


Article 4. Primary Objective (1) The objective of the National Bank is to achieve and maintain price stability.
(2) Without prejudice to its primary objective, the National Bank promotes and maintains a financial system based on market principles and supports the general economic policy of the state.

Basic Powers Article 5. (1) The National Bank has the following functions:
a) formulates and implements monetary policy and foreign exchange;
B) act as banker and fiscal agent of the state;
C) prepare economic and monetary analysis and based on their proposals addressed to Government, bring test results to the public;
D) license, supervise and regulate the activity of financial institutions;
E) credit to banks;
F) supervises the payments system in the country and promote the efficient and stable functioning of the automated interbank payment system;
G) act as the sole issuer of currency;
H) sets the exchange rate regime of the national currency;
I) to hold and manage foreign exchange reserves;
J) the name of the Republic, responsibilities and perform transactions resulting from Moldova's participation in the work of international public institutions in banking, credit and monetary conditions in accordance with international agreements;
K) the balance of payments, international investment position and external debt statistics draw Moldova;
L) perform foreign exchange regulation in Moldova;
M) to license, regulate and supervise the business of providing payment services and activity of issuing electronic money.
(2) The National Bank has the right to process personal data obtained in the exercise provided in this law without the consent of data subjects personally.
(3) personal data subjects have the right to object to the processing of personal data of the National Bank circumscribed duties stipulated by this law.
(4) Processing of personal data obtained by the National Bank under this article shall be in accordance with the legislation on the protection of personal data.
Article 6. Cooperation with state bodies
(1) National Bank with the Government on achieving its objectives, under this law, take the necessary actions to achieve such collaboration.
(2) The National Bank provides economic and financial organs of the Government, upon request, information on monetary and financial matters. The bodies mentioned in turn, provide the National Bank, at her request, information concerning macroeconomic, monetary and financial matters.
(3) Any draft law which concerns matters of public authorities National Bank has duties will be taken after receiving the opinion of National Bank. This opinion will be transmitted no later than 30 days after the request.
(4) The National Bank and its board members are independent in the exercise determined by this law and do not seek or accept instructions from any government or other authority. Public authorities and all other authorities shall not attempt to influence members of the leadership of the National Bank in their duties.

Article 7. International cooperation (1) The National Bank represents Moldova at meetings, councils and intergovernmental organizations concerning monetary policy, bank licensing and supervision, banking supervision issues and other issues within its competence.
(11) The National Bank may conclude agreements of cooperation and information exchange with authorities that have competence in financial sector regulation and supervision of banking and other states. The exchange of information should be solely for the purpose to achieve their tasks authorities, and the information provided by the National Bank shall be subject to the conditions of professional secrecy similar to those in art.
36. (2) The National Bank may grant government institutions banking, financial and foreign banking and public international organizations, the National Bank or Moldova participates.

(3) The National Bank may participate in international organizations that pursue to achieve financial and economic stability through international cooperation.
(4) within its powers, the National Bank of Moldova agent can assume responsibilities and perform transactions concerning the Republic's participation in international organizations.
Article 8. Public Relations, Government and Parliament
(1) The National Bank shall periodically inform the public on the analysis of macroeconomic and financial market developments and statistical information, including the money supply, credit, balance of payments and the currency market.
(2) The National Bank with the Government on financial and budgetary matters:
a) Governor of the National Bank:
- may attend and address meetings of the Government, his speech being recorded in the minutes;
- May issue a written opinion on matters which were before the meeting;
B) ministers responsible for economic and financial matters may attend meetings of the Supervisory Board and the Executive Board, without voting rights.
(3) National Bank governor or members of the Supervisory Board or Executive Committee members must explain to Parliament or standing committees of the National Bank's policy to comment on proposed laws, at Parliament's request.

Article 9. The seat is National Bank headquarters in Chisinau.

Accounts Article 10. (1) The National Bank may open accounts in its books only on behalf of the state and state bodies, banks licensed by the National Bank, banks in liquidation, the Guarantee Fund Deposit banking, legal entity holding the license for activity of central depository of securities as a core activity, foreign central banks and international public financial institutions. National Bank does not open accounts for local government, enterprises, including those of state.
(2) Application of the seizure, suspension of operations or the application of other measures to ensure the funds on accounts of banks with the National Bank not allowed.

National Bank Acts Article 11. (1) In order to fulfill its tasks, the National Bank has the right to issue decisions, regulations, instructions and directives.
(2) The normative acts of the National Bank, which are compulsory for financial institutions and other legal entities and individuals, are published in the Official Gazette of the Republic of Moldova and shall enter into force on the date of their publication or on another date set the text of the document, provided public information.
(21) normative acts of the National Bank can be challenged only by the person against whom the articles of normative challenged adopted or refused to adopt an act of individual. Normative act under which endorsed or denied adopting an act of individual can only be disputed while contesting the act of an individual nature.
(3) Decisions on interest rates on monetary policy instruments, ordinances and other acts of the National Bank not have normative enter into force upon adoption if those acts is not foreseen otherwise.
(31) of individual acts of the National Bank shall communicate to the recipients by signature or by registered letter with acknowledgment of receipt. Communication by registered letter with acknowledgment of receipt is carried out at home or at the premises of the person, as appropriate. If the document is not possible by any of the means set out in this paragraph, including if the consignee refuses to take the knowledge, the act is deemed communicated if available at the headquarters of the National Bank. In the latter case, as evidence of the document of individual serving official release of the National Bank on the availability of this act at the headquarters of the National Bank, to be published within seven days on the official website of the National Bank and in the Official Gazette of the Republic Moldova.

(4) National Bank acts are subject to judicial review in the administrative courts under the procedure established by the Administrative Litigation Law, and according to the requirements of this law. Provisions of other laws may be applied in cases contesting the National Bank acts only insofar as they do not contravene rules set by this law.
(5) Acts of the National Bank is not subject to control of opportunity.
(51) National Bank acts can be appealed to the Executive Board of the National Bank by submitting a prior request within 30 days from the date of the document. The 30 days does not extend to normative documents.
(52) Advance applications challenging the provisions of the National Bank will be addressed exclusively to the Executive Board of the National Bank and will be examined exclusively by it.
(53) The Executive Board of the National Bank will consider applications concerning acts preliminary National Bank within 30 days from the filing date.
(6) administrative actions on legislative National Bank or on the failure of the legal application within an application is submitted to the court in whose jurisdiction has its registered National Bank, subject to mandatory preliminary procedure referred to in paragraphs (51) - (53). Challenging or action shall not suspend the execution of acts issued by the National Bank, unless the law provides otherwise.
(7) Acts of the National Bank monetary policy and currency, including protective measures, can be challenged only in terms of the adoption procedure.
(8) - repealed.
(9) Applications to challenge acts of the National Bank monetary policy and currency, including protective measures, the National Bank acts on the special administration of the bank and the withdrawal of the license bank, the National Bank acts adopted the evaluation and supervision of the shareholders entities supervised by the National Bank of the measures implemented by the National Bank or the special administrator during the special administration of the bank and measures imposed by the National Bank in the process of liquidation of the bank, be tried within 3 months from the filing date.
Article 111. Suspension of Bank acts

National court
administrative (1) Notwithstanding the provisions of art. 21 para. (1) and (2) of the Law no. 793-XIV of 10 February 2000 until the final case may be suspended execution of documents relating to the National Bank withdrawal of the license of the bank and measures imposed by the National Bank in the process of liquidation of the bank, the provisions of art. 38 para. (7) of the Financial Institutions Act No. 550-XIII of 21 July 1995.
(2) Suspension of the National Bank acts may be required in the administrative court challenging such acts only after the Executive Board of the National Bank within 30 days from the date of adoption Executive Board on the preliminary application on these documents or the deadline for resolving the preliminary application. The 30 days does not extend to normative documents.
(3) Suspension of the National Bank acts may be ordered by the court only at the applicant's request, filed jointly with his action and only if the following conditions are met:
a) the reasons adduced by the applicant in support of the action are relevant and well-founded and is a prima facie case against the legality of the contested act;
B) the applicant submits arguments which have a factual basis and that the circumstances of the dispute requires urgent arrangement suspending the contested administrative measure to avoid serious and irreparable harm to the applicant's interests;
C) the harm that might be caused to the applicant exceeds the public interest pursued by the contested administrative issue.
(4) The burden of proof meeting the conditions mentioned in para. (3) The applicant bears. Until proven otherwise be presumed public interest in the immediate and uninterrupted acts National Bank.

(41) In examining requests for suspension of the National Bank acts, the court shall summon the parties to the proceedings, indicating the date and time of the hearing and attaching a copy of the request for suspension of the National Bank acts also asks National Bank to provide reference on the application for suspension.
(42) Within 3 working days of receipt of copy of the petition for suspension of the provisions of the National Bank, National Bank filed this application on the reference.
(43) The court is required to process the application for suspension of the National Bank acts within 5 days of the submission of the reference by the National Bank or the date on which the reference had presented.
(5) The court may order the suspension of the National Bank acts only if cumulative meeting the conditions mentioned in para. (3). The court pronounces a reasoned conclusion on the suspension or denial of stay of execution acts National Bank.
(6) The administrative court decision declaring illegal part or all of the instruments of the National Bank National Bank is transmitted immediately and without delay be published on the official website of the National Bank.
(7) The court on suspension or refusal to suspend operation of the National Bank acts may be appealed in accordance with the Code of Civil Procedure. Notwithstanding art. 426 par. (3) of the Civil Procedure Code, an appeal against the decision shall be considered within the narrow, not exceeding 10 days from the date of filing the appeal.

Chapter IIPOLITICA monetary and exchange

Article 12 - repealed.
Article 13 - repealed. Article 14. Monetary policy instruments

implementation of its monetary policy and foreign exchange National Bank will take measures, including those described in this chapter.
Article 15. Open Market Operations The National Bank may
financial markets in debt securities issued by the state, the National Bank or any other claims by buying, holding and selling outright (spot and forward). Claims issued by the state operations can be performed only by the National Bank in the secondary market.
Article 16. Foreign exchange operations and other operations
National Bank has the right:
a) to buy, sell and deal in gold coins, gold bullion and other precious metals;
B) to buy, sell and deal in foreign exchange, using assets as described in Article 53 (1);
C) to buy and sell treasury bills and other securities issued or guaranteed by foreign governments and international public financial institutions;
D) determine the rate at which it will buy, sell and conduct operations referred to in subparagraph needle).
Article 17. Required reserves established institutions
Financial
(1) National Bank Financial Institutions sets the maintenance of required reserves against deposit and other similar liabilities specified for this purpose. These reserves are maintained by retaining money in cash in the house or in correspondent accounts of banks or financial institutions in special accounts at the National Bank. The seizure, suspension of operations, implementation of other measures of insurance, as well as enforcement measures in respect of funds under special accounts of required reserves is not allowed.
(2) The National Bank establishes the same reserve ratios for liabilities of the same and determine their mode of calculation. Requirements to maintain and increase their required reserves shall enter into force within at least 10 days of notification of financial institutions.
(3) The National Bank shall remunerate the portion of required reserves balances that exceeds 5% of liabilities on which required reserves are at a higher rate or prescribe by regulation the National Bank.
(4) failing to comply with the requirements established financial institutions on required reserves National Bank may impose a fine at a rate equal to basic daily on the deficiency plus 0.2% for the whole period multiplied by the deficiency as it takes. Charge shall be paid to the state budget by deduction from the account with the National Bank financial institution.
Article 18. Credit

banks (1) The National Bank may grant loans to banks under conditions established periodically by the National Bank and guaranteed by:
a) securities issued by the Government, which are part of the show public;
B) securities issued by the National Bank;
C) bills of exchange or drawn and made for bona fide commercial, industrial or agricultural purposes, bearing two or more signatures of at least one to that of a bank and be with maturing 9 months the date of their acquisition by National Bank;
D) securities issued on goods or goods fully insured against risk or loss at the level set by the National Bank;
E) deposits and other accounts at the National Bank or another financial institution acceptable to the bank, representing any assets that the National Bank may buy, sell or negotiate.
F) other eligible financial assets established by National Bank.
(2) credit described in paragraph (1) may take the form of advances, loans, purchases, sales, discount and rediscount of negotiable instruments, on a competitive or noncompetitive.
(21) The National Bank may, at its sole discretion, solvent banks emergency short-term loans backed by assets as described in (1) the occurrence of an increased risk of illiquidity may affect the stability of the financial system .
(3) In order to ensure financial system stability, systemic financial crisis or risk of noncompliance, defined as the national body set up to manage systemic financial crisis, the National Bank may grant to banks at its sole discretion, loans emergency short-term, secured by state guarantees or securities issued by the Government under similar conditions lending conditions of international financial institutions to the Government and to the capacity of servicing the debt, previously negotiated with National Bank Moldova, in accordance with the legislation.
(4) The National Bank shall establish and make public periodically:
a) the minimum rates for extensions of credit to banks;
B) the objective criteria by which banks will be eligible to bid competitively for credit.
(5) The National Bank may establish differential rates ceilings for different classes of these transactions and maturities.
Chapter IIIPREVEDERI FINANCIAL



Article 19. Capital (1) Capital National Bank includes Statutory capital reserve accounts in accordance with Art. 66 and reserve accounts of unrealized gains.
(2) The statutory capital is the sum of the authorized capital and general reserve fund. The authorized capital is subscribed and owned exclusively by the state, it is not transferable and can not be encumbered.
(3) statutory capital is dynamic and is formed from the profit available for distribution of proceeds under Article 64 (3) and / or contributions from the Government until its size reaches 10% of total monetary liabilities of National Bank, and is structured as follows:
a) 1/3 - authorized capital;
B) 2/3 - general reserve fund.
(4) A reduction of the level of monetary liabilities, both during, and at year end, imply the reduction of capital previously.
(5) The general reserve fund is used exclusively to cover losses on the outcome of the exercise at year end.
(6) If at year end general reserve fund balance is in debit, the Government, through the Ministry of Finance, within 60 days after receiving the report of the external auditor on the financial statements of the National Bank, National Bank transfers a capital contribution in state securities at market interest rate, the amount necessary to cover the debit balance.
(7) Issuance and transfer to the National Bank capital contribution in state securities will be held installments annually in equal parts within 5 years after the registration year debit balance of the general reserve fund. If over the coming years National Bank will continue to record losses, the amount they will contribute to the debit balance of the general reserve fund will be spread the same way.
Article 20. Profit distribution and coverage


losses (1) Result for the year (profit / loss) of the National Bank for each financial year shall be determined under the provisions of Article 66.
(2) The profit available for distribution is the result obtained after year:
a) unrealized gains itemizing all the corresponding reserve accounts of unrealized gains;
B) cover all sources unrealized losses corresponding reserve accounts of unrealized gains, until their balance equals zero.
C) breakdown of revenues under Article 64 (3) in the statutory capital within the limits laid down in Article 19 (3).
(3) The accounts of unrealized gains reserve will be created separately for each source generating those revenues and will be used to cover the unrealized losses of subsequent periods, generated by sources creating these reserves.
(4) If the deduction of undistributed profits and / or losses unrealized in para. (2) a) and b) exceeds net profit, this overrun is covered from the general reserve fund pursuant to Article 19 para. (5).
(5) At year end, profit available for distribution will be allocated for capital increase within the limits laid down in Article 19 paragraph. (3).
(6) The balance of the profit available for distribution is transferred to the income of the state budget within 15 days after receiving the report of the external auditor on the financial statements of the National Bank.

Annual budget Article 21. (1) Every year, all administrative expenses and capital investments of the National Bank are provided in the estimate of costs, respectively, in grants for investments, approved by the Supervisory Board and check its execution practices and procedures in accordance with internal control and audit.
(2) The legality and regularity of expenditure estimates and allowances for investment of the National Bank shall be audited by the Court. External audit of the Court is limited to examining the operational efficiency of the decisions taken by the leadership of the National Bank, excluding the ones related to the implementation of the monetary policy of the National Bank and the management of foreign exchange reserves.


Chapter IVORGANIZAREA AND ADMINISTRATION
Article 22. The bodies of the Bank
National
(1) The management bodies are the National Bank Supervisory Board and the Executive Board.
(2) Supervisory Board and Executive Committee are collegial bodies, their activity is regulated by this law and the regulations National Bank.
(3) The Supervisory Board is the body responsible for organizing an effective system of independent public oversight of the work of the National Bank.
(4) The Executive Committee shall exercise executive management ensures the independent National Bank and its basic duties as established by law.
Article 23. Composition of the governing bodies
procedure of appointment and removal of members
their
(1) The Supervisory Board is composed of 7 members as follows:
a) a chairman, who is also the Governor of the National Bank;
B) a Deputy Chairman, who is also first deputy governor of the National Bank;
C) a member who is also deputy governor of the National Bank;
D) four members who are not employees of the National Bank.
(2) The Executive Committee is composed of 5 members, as follows:
a) a chairman, who is also the Governor of the National Bank;
B) a Deputy Chairman, who is also first deputy governor of the National Bank;
C) three members who are Deputy Governors of the National Bank.
(3) National Bank governor is appointed by Parliament on a proposal from the President.
(4) First Vice Governor shall be appointed by Parliament and the Vice Governor of the National Bank on the proposal.
(5) A member of the Supervisory Board indicated in para. (1) c) is appointed by Parliament on a proposal from the Governor of the National Bank and the Supervisory Board members indicated in para. (1) d) shall be appointed by Parliament at the proposal of the Economy, Budget and Finance of the Parliament, under the procedure established by it.
(6) A candidate may be proposed to the Parliament for appointment no more than twice in a year.

(7) can run for Member of the Supervisory Board or Executive Committee person who holds the citizenship of Moldova, have higher education enjoys a good reputation and, if the candidate for member of the Supervisory Board has a work experience of at least 10 years in the financial, legal or audit or an office scientific or academic in these areas or, if the candidate for member of the Executive has work experience at least 10 years in the financial or monetary.
(8) Members of the Supervisory Board and the Executive Board are appointed for a term of 7 years with possibility of renewal. Mandate expires, the member of the Supervisory Board or Executive Committee member remains in office until the appointment of a new member.
(9) Members of the Supervisory Board and the Executive Board can resign, provided information in writing three months before the authority which appointed them.
(10) Any member of the Supervisory Board or the Executive Committee may be revoked by Parliament under the procedure provided in par. (11) only if he no longer fulfills the conditions required duties or has committed serious misconduct.
(11) Chairman of the Supervisory Board revoked the proposal of its President, with 2/3 of the elected deputies. Revocation of the other members of the Supervisory Board and the Executive Board is the proposal of the Supervisory Board, following the notification submitted to the Governor of the National Bank, or at the proposal of its President, by majority vote.
(12) The decision to revoke the Supervisory Board member or member of the Executive Board may be appealed to the Court of Appeal within 15 days of its publication in the Official Gazette of the Republic of Moldova.
(13) Parliament shall appoint the members of the Supervisory Board and the Executive Board in positions vacated no later than 3 months from the occurrence of the vacancy. Article 24. Powers of the Governor

(1) The Governor is responsible for formulating initiatives in the field of monetary and exchange policy to be presented to Executive Committee and their execution. Governor organize and direct the National Bank operates, without a proxy on its behalf, represents in relation to any legal or natural person both in the Republic of Moldova and abroad, issue orders and binding provisions for employees of the National Bank, overseeing the performance their signs directly or through persons authorized by it, agreements and other documents concluded by the National Bank.
(2) In case of absence or inability to perform their tasks, the Governor shall deputize for the Senior Deputy Governor, and in his absence - by one of the deputy governors, which is authorized under the internal rules of the National Bank. The Governor may delegate some responsibilities of its Board members and heads of subdivisions of the National Bank.

Restrictions and incompatibilities Article 25. (1) Members of the governing bodies of the National Bank may not be deputies, government members, members of any political party or social-political formations, are not part of the judicial or the government can not conduct or participate in political activities, are not in favor of any party campaigning or social-political formations.
(2) The members of the management and staff of the National Bank may not perform activities that could pose a conflict of interest in the realization by them of their duties. Executive Committee members may not hold other paid activities, except for teaching and scientific activities.
(3) Members of the governing bodies for one year after their release from office, not serve as members of the governing bodies of the entities regulated and supervised by the National Bank.
(4) Members of governing bodies holding public positions by appointment and subject to the applicable provisions of the status of persons exercising public functions, to the extent that this law provides otherwise.
(5) for supervisory employees exercising forbidden to participate in expertise commissions, and any other control actions that go beyond the duties and powers conferred upon it by law.

Article 26. Powers of the Supervisory Board
(1) In exercising the supervision referred to in art. 22 para. (3) The Supervisory Board shall:
a) approve the annual report and annual financial statements to be presented by National Bank competent authorities;
B) adopt standards of internal control system, continuously verify and evaluate the functioning of the internal control system and its elements;
C) appoints the Comptroller General, the proposal of the Audit Committee and lays down its remuneration, with the vote of at least 2/3 of the members appointed;
D) adopt rules of professional ethics in the National Bank;
E) determining the payroll of the National Bank and the remuneration of Executive Board members, the vote of at least 2/3 of the members appointed;
F) establishes the conditions for granting credit to employees of the National Bank;
G) determine the denomination and design of banknotes and coins, how to release and conditions of withdrawal from circulation, by a vote of at least 2/3 of the members appointed;
H) to propose increases in the National Bank's capital by a vote of at least 2/3 of the members appointed;
I) determine the annual budget and investment allowances of the National Bank and monitors their execution;
J) selects, by auction, the organization of the external audit;
K) determines the amount of monthly allowances of members of the Supervisory Board who are not also members of the Executive Committee by a vote of at least 2/3 of the members appointed. The monthly allowance is established in the amount of up to 2 average monthly salaries of employees of the National Bank, calculated according to staff scripted into force at the beginning of administrators;
L) establishes the creation and functioning of the Monetary Committee, Investment Committee, Audit Committee, Board of prudential supervision and other committees that can operate at the National Bank;
M) approved by a vote of at least 2/3 of the members appointed, the submission to Parliament of proposals for dismissal of members of the Board, following the notification submitted by the Governor;
N) approve the internal regulations related to the duties specified in this paragraph, the vote of at least 2/3 of the members appointed.
(2) The Supervisory Board may request the Executive Committee any information it deems necessary to exercise its powers and perform appropriate checks of information.
(3) The Supervisory Board shall submit to Parliament at least annually, reports on the surveillance activities.

Article 27. Powers of the Executive Committee (1) The Executive Committee shall:
a) sets monetary policy in the state, including the level of interest rates for instruments of monetary policy, lending conditions, the level and type of reserves that banks are required to keep the National Bank;
B) establish state foreign exchange policy and the exchange rate regime of the national currency;
C) adopt the normative acts of the National Bank and approves the recommendations to be presented by National Bank competent authorities;
D) approve, by a vote of at least 2/3 of the members present at the meeting, each granting credit or use other financial instruments in favor of a bank in accordance with art. 18 para. (3);
E) ensure the implementation of Supervisory Board resolutions adopted under art. 26;
F) decide on the issuance of licenses, permissions, approvals to be issued by the National Bank as required by law;
G) plan and organize current work of the National Bank;
H) consider, where appropriate, results of testing at entities supervised by the National Bank, to approve decisions on them;
I) decide on issuing National Bank's debt capacity and conditions of their issuance.
(2) The Executive Committee who exercise other powers under the law, the Supervisory Board.
(3) Executive Committee meetings shall be convened by its chairman at least once a month and takes place according to Art. 31. Meetings may be convened at the written request of three members of the Board.
Article 28. Audit Committee

(1) The Audit Committee is created by the decision of the Supervisory Board.
(2) The Audit Committee is composed of three members of the Supervisory Board who are not employees of the National Bank.
(3) The Audit Committee shall:
a) monitor the financial reporting process of the National Bank;
B) monitor the effectiveness of internal control and risk management;
C) monitor and direct the internal audit function;
D) monitor the independence and external audit activity.
(4) extensive areas of competence of the Audit Committee shall be established by an internal regulation approved by the Supervisory Board.
(5) The Audit Committee presents the Supervisory Board at least annually, reports on the monitoring work carried out, which will contain recommendations for improvement and process development activities of the National Bank.
Article 29 - repealed.
Article 30 - repealed.
Article 31. Meetings of the Supervisory
(1) Supervisory Board meetings are chaired by the Governor, in his absence, the First Vice.
(2) Meetings of the Supervisory Board is convened by the Governor at least quarterly. Meetings may also be convened at the written request of four members of the Council.
(3) The decision on convening meetings of the Supervisory Board shall be communicated to all members of at least 5 working days prior except for emergency situations, when meetings can be convened urgently. At the same time it appears to the Board members the date, place and agenda of the meeting.
(4) Each member of the Supervisory Board shall have one vote. The meeting is deliberative if the presence of more than half the members appointed to the Council, including the Governor and First Vice.
(5) Supervisory Board meetings are secret. According to the Council decision some or all of its decisions can be made known to the public in accordance with the Law on Commercial Secret.
(6) Decisions of the Council shall be passed by a simple majority vote of its members present at the meeting, except in cases stipulated by this law or regulations National Bank. The right to vote belongs only to those members of the Council were present at the meeting. In case of equal votes the Chairman's vote is decisive meeting.
(7) The decisions of the Supervisory Board shall be issued under the signature of the presiding judge.
(8) No decision of the Supervisory Board can not be undone because there are vacancies in its membership.
(9) The decisions of the Supervisory Board remain valid regardless of the subsequent discovery of irregularities in the appointment of the Council member function, eligibility or qualification.
(10) At each meeting of the Supervisory Board shall draw up a report on the meeting signed by the chairman and secretary of the Council.
Article 32. The personal interests of members

governing bodies (1) The members of the management, after appointment and annually thereafter shall notify the Council all direct or indirect financial interests and their family members as established by the Council.
(2) When examining a problem of such interest, the member of the management body make them aware of the Supervisory Board or Executive Committee at the beginning of the debate and not take part in the consideration and vote on this issue. However, their presence is taken into account in determining a quorum. Internal audit

Article 33. (1) The National Bank has an internal audit body consisting of specialists with skills in the areas of auditing, accounting, finance and information technologies and headed by the Comptroller General.
(2) The Comptroller General of the National Bank called for a term of 5 years by the Supervisory Board at the proposal of the Audit Committee and shall be removed from office by decision of the Supervisory Board. Comptroller General may resign by serving Chairman of the Supervisory Board 3 months prior.
(3) The Comptroller General, jointly with specialists of internal audit body:
a) establish internal audit procedures;

B) examine and evaluate business processes, including quality control methods and risk management, information systems used, other subjects in order to ensure compliance with the requirements of legislation and rules;
C) examine the financial statements and the execution of the estimate of expenditure and investment allocations for the National Bank, confirmations opinion.
(4) Internal audit body is subordinated and reports to the Board of Supervisors. Article 34. National Bank staff

(1) The Executive Committee approved the Regulation on National Bank staff.
(2) The Governor shall appoint and dismiss the staff of the National Bank in the manner and conditions established by the Executive Committee.
(3) The Executive Committee decides on the remuneration of the staff of the National Bank in accordance with law.
(4) National Bank officials have no right to accumulate positions based on labor agreement, to be paid by individuals and legal entities (except fees for publications and payments for teaching in educational institutions).
(5) National Bank officials are obliged to declare any loans, except those received from the National Bank, internal audit body which keeps track of them. The Executive Committee may place limits on credit they can get from other financial institutions. Article 35. Guarantees

exercise (1) National Bank board members of the National Bank and its staff responsible for supervision tasks not respond, civil or penal sanctions, if the Court finds whether or failed to fulfill these people in good faith and without negligence, any act or fact related to the exercise under the law, the supervisory duties.
(2) The costs of legal proceedings initiated against the persons under par. (1) borne by the National Bank.
(3) Members of the governing bodies of the National Bank can not be detained, arrested or punished or criminal than the decision of the Prosecutor General.

Professional secrecy Article 36. (1) The members of the management, employees of the National Bank, chartered accountants, authorized accountants and other professionals appointed by law this inspecting (inspection) and auditors are bound by professional secrecy over any information that is secret banking, commercial, tax and other secret protected by law, they become aware during the execution of their duties. These individuals are bound by professional secrecy and after the termination of the National Bank or after leaving the other with it.
(2) The obligation of professional secrecy extends to confidential information created by the National Bank in or related to exercise them, whose disclosure could damage the interests or reputation of the person to which it relates.
(3) The persons referred to in paragraph (1) may use the information covered by professional secrecy only for the purpose and in the course of fulfilling their duties related to the National Bank. Persons listed may not use the information covered by professional secrecy personal interest or in the interest of third parties to disclose such information or allow their use by third parties or allow third parties access to that information.
(4) The information covered by professional secrecy may be disclosed or provided in the following situations:
a) when there is express consent of the person to whom the information relates;
B) when such notice to be published by law;
C) the provision of this information in summary or aggregate form so that the bank can not be identified or person to which they relate, and if duties on public information;
D) in the cases provided for in Article 22 of the Law on Financial Institutions no. 550-XIII of 21 July 1995 and applied accordingly;
E) under cooperation agreements with other public authorities or the National Bank initiative, the purpose of performing specific duties of supervision and control over compliance with the law;

F) the provision of this information Deposit Guarantee Fund in the Banking System, necessary performance of their duties;
G) in proceedings related to the forced liquidation of a bank, except for information relating to third parties involved in related to the liquidation of the bank concerned;
H) when the interests of the National Bank requires disclosure of such information in judicial proceedings;
I) at the request of central banks, supervisors of banks, financial markets and payment systems in other countries.
(5) persons and bodies competent to request and receive information covered by professional secrecy are obliged to preserve confidentiality and may use it only for the purpose for which they have requested and for which were provided by law or agreements and are not obliged to provide and not to disclose to third parties, except for the enforcement of obligations under the law.
(6) The information covered by professional secrecy may be provided to central banks and bank supervisory bodies, financial markets, payment systems from another state the basis of reciprocity, as provided by international treaties to which Moldova party and agreements concluded between the National Bank and supervisors of banks, financial markets and payment systems in other countries.
(7) When the information covered by professional secrecy originates in another state, it may be disclosed or provided only with the express consent of the competent body which has provided and, where appropriate, solely for the purpose for which it was given this agreement.

Chapter VRELAŢIILE FINANCIAL STATE BODIES

Article 37. Banker and Fiscal Agent
(1) The National Bank acts as banker and fiscal agent of the state and its agencies. Any transaction carried out by the National Bank may not result in financial support to its agencies.
(2) The National Bank is obliged to provide government consultations important that monetary and financial matters within its competence, and the Government owes the National Bank to provide advice on matters within his competence.
(3) annually in drafting the state budget, the Government will consult in economic and financial matters with the National Bank shall submit a report on these issues.
Article 38. Consultations and information on lending

rights Annual public sector, the Government consults with the National Bank regarding its objectives in the field of internal and external public sector borrowing for the next financial year, including the amounts and conditions on which those loans will be contracted. Loans and state bodies shall be reported to the National Bank as stipulated by the bank. All such borrowing shall be in accordance with law.
Article 39. Depository and Cashier
(1) Based on an approach of the Government, the National Bank accepts deposits from the Finance Ministry and other state bodies, market conditions, according to regulations National Bank. National Bank as depositary shall receive and disburse moneys and keep account thereof and provide other financial services. National Bank makes payments within the balance on those accounts.
(2) The National Bank may authorize banks to accept such deposits on mutually agreed terms.
(3) Taxes, fees and other obligatory payments, which were paid by the taxpayer in the state budget accounts and special funds of the banks they service, transfer to the Treasury Single Account (TSA) in the National Bank or the respective accounts of the budgets of administrative territorial units no later than the end of the day following the day on which gushed. For every day of delay banks pay a fine of 5% of the amount transferred late.
Article 40. Powers fiscal agent
National Bank, the terms and conditions agreed with the Government acting as fiscal agent of the state in organizing servicing dematerialized state securities in the following areas:
a) deployment, based on the agreement with the Ministry of Finance, placing primary market of state securities;
B) the records in the book-entry system of securities held by the National Bank;

C) marketing securities issued by the Republic and his
D) payment of principal on the securities of, and interest and other charges;
E) such other matters as consistent with the objectives and attributions of the National Bank. Article 41. Prohibition

State National Bank lending will not grant loans and guarantees in any form or state of its organs, including the purchase in the primary market of state securities through credit or overnight.
Article 42. The purchase securities issued
State
Nothing in this Chapter shall prohibit the National Bank to purchase and sell on the secondary market securities issued by state:
a) provided that the National Bank will purchase only through open market operations open securities that were publicly issued;
B) in relation to loans for banks. Article 43. Provision of information

National Bank receives from the state bodies all information and financial and economic documents necessary to perform its duties.


Chapter VIRELAŢIILE WITH FINANCIAL INSTITUTIONS
Article 44. Supervision and Regulation

financial institutions National Bank is exclusively responsible for the licensing, supervision and regulation of financial institutions. To this end the National Bank is empowered:
a) to issue necessary regulations and take appropriate measures to exercise the powers and duties under this law, the licensing of financial institutions and developing standards for surveillance them and determine how to apply the regulations and actions mentioned;
B) conduct by its officers or other qualified person for this purpose, controls all financial institutions, and to examine the books, records and accounts, the conditions in which they operate, and compliance the law and regulations;
C) require any employee of the National Bank financial institution to provide information necessary for the supervision and regulation of financial institutions;
D) any financial institution remedial measures or impose the penalties provided by the Law on Financial Institutions if the financial institution or its employees;
- Have violated that law or a regulation of the National Bank;
- They have violated a fiduciary duty;
- Have engaged in unsafe or unsound operations of the financial institution or any of its subsidiaries. Article 45. Depository Services

National Bank may open accounts with banks operating in Moldova and accept deposits from the conditions laid down by it, including the payment of interest and establishment fees.

Article 46. Prudential Regulations Each financial institution will fulfill the requirement of the regulations of the National Bank on:
a) balance sheet accounts, off-balance sheet liabilities, revenues and expenses related to ratios among accounts;
B) restrictions or conditions on certain types of credit or investments that exceed an established; certain risk-bearing liabilities; matching as to maturity of assets and liabilities and off-balance sheet items; open foreign exchange positions, swap, option or similar positions; access to the payment system.

Article 47. Provision of information (1) Financial institutions are obliged to provide the National Bank any information and data it requires, necessary for the exercise of his duties.
(2) The National Bank may publish this information and aggregated data wholly or partly in classes of financial institutions according to the nature of their business.
Article 48 - repealed.

Article 49. Information Network National Bank may establish and maintain an information network for the needs of the banking system.


Chapter VI1SISTEMUL PAYMENT
Article 491. Supervision payment system
Moldova

(1) The National Bank oversees payment and settlement systems, payment instruments and other components of the payment system in Moldova, whose operation is essential for stable and efficient financial stability for monetary policy implementation and promoting public confidence in cashless payments.
(2) For purposes of surveillance payment system in the Republic of Moldova, the National Bank is entitled:
a) adopt policies that establish principles and how to organize oversight of payment and settlement, payment instruments and other components of the payments to be subject to supervision;
B) adopt legislation setting out the conditions and organization, operation and use of payment and settlement systems, payment instruments, other components of the payment system in Moldova;
C) to request and receive information and reports from operators (administrators) and participants in the payment and settlement systems;
D) control over the organization and functioning of payment and settlement, the business operators (administrators) and participants in the payment and settlement systems;
E) to implement remedial measures and sanctions against operators (managers) payment and settlement systems.
Article 492. Regulation and supervision activities
ity of performance payment
and the issuance of electronic money
National Bank is the public authority that regulates and supervises licensed business of providing payment services to banks and payment companies, as well as the activity of issuing electronic money in accordance with this Law and other laws. To this end, the National Bank is empowered:
a) adopt normative acts for work related to the provision of payment services and issuing electronic money;
B) to supervise payment service providers and electronic money issuers which issued their license;
C) carry out, through its officials and other experts, checks on payment service providers and electronic money issuers which issued their license and to examine the books, records and accounts, the conditions of activities and their compliance with legislation;
D) request and receive from any employee of payment service providers and electronic money issuers which issued their license information necessary for regulation and supervision of their work;
E) to implement remedial measures and sanctions payment service providers and electronic money issuers which issued their license. Article 493. Granting

clearing services and payment
National Bank can provide banks and other institutions eligible for clearing services (clearing) and payment and can set rules and issue the respective acts.


Chapter VIIREGLEMENTAREA EXCHANGE OPERATIONS Article 50. Currency Control

National Bank, as exchange control organ, performs within its competence, control over compliance currency.

Foreign Exchange Regulation Article 51. The competence of the National Bank foreign exchange regulation related:
a) issue normative acts on regulation (including authorization and reporting) foreign exchange transactions of individuals and legal entities, including institutions financial and state bodies;
B) the issuing and revocation of licenses, supervise and regulate foreign exchange dealers, including banks;
C) - repealed;
D) establish the method of determining the official exchange rate of MDL against foreign currencies.

Article 52. Banks Reporting currency transactions, foreign exchange entities (other than banks) other legal and natural persons are obliged to report to the National Bank's foreign exchange currency in accordance with the legislation.

International Reserves Article 53. (1) The National Bank holds on its balance sheet foreign reserves which consist of the following assets:
a) gold;
B) foreign currency banknotes and coins or bank balances held abroad in foreign currency;

C) any other assets internationally recognized;
D) bills payable in foreign currencies;
E) expressed and payable in foreign currency, issued or guaranteed by foreign states, their central banks or public international financial institutions and agreements entered into forward purchase or guaranteed by them.
(2) The primary objectives in selecting reserve assets shall be safety of principal and liquidity.
(3) The National Bank holds international reserves to a level which is adequate to achieve its vision of the monetary policy of the state.
(4) Where a reduction in international reserves or if the National Bank believes that am about declining to a level that would jeopardize the execution of foreign policy or the timely international transactions, the National Bank will present a report to Parliament and Government on the international reserves and the causes that led or may lead to their reduction. The report will contain recommendations to remedy the situation.
(5) The National Bank will continue to make such reports and recommendations, until consider the situation remedied.
Article 54 - repealed.
Payment Article 55. International agreements
and clearing
National Bank may enter into payment and clearing agreements or other similar agreements with the central clearing institution, public or private from other countries, both in his own name and in the name and in charge of state bodies.
Chapter VIIIMONEDA NATIONAL



Article 56. Monetary Unit (1) The monetary unit of the Republic of Moldova is MDL. A lion is divided into 100 bani.
(2) The leu is legal tender in the Republic of Moldova.
Article 57. The right to issue banknotes and coins
Metal
National Bank has the exclusive right to issue the Republic of Moldova banknotes and coins as legal tender, and banknotes and coins and commemorative jubilee as a means of payment and for numismatic purposes.

Article 58. Legal tender Banknotes and coins issued by the National Bank as payment and not withdrawn from circulation shall be accepted at face value in payment of all public and private debts territory Moldova.

Article 59. Characteristics of the national currency (1) The National Bank shall determine the denomination, size, weight, design and other features of banknotes and coins which are legal tender in the country.
(2) Banknotes bear the signature of the governor of the National Bank.
(3) Any color banknotes and coins, with size from 2/3 to 4/3, part or advertising purposes, information or other commercial purposes is prohibited.
Article 60. Printing banknotes and minting

coins National Bank organizes printing of banknotes and minting of coins and ensure the safekeeping of unissued in circulation, withdrawal and destruction of banknotes and coins withdrawn from circulation.

Currency exchange Article 61. (1) The National Bank may exchange the national currency is in circulation in the country.
(2) banknotes and coins shall be withdrawn, destroyed and replaced by the National Bank with banknotes and coins.
(3) The National Bank may decline to exchange banknotes and coins if their designs do not meet the set standards. Article 62. Ensuring

banknotes (1) The National Bank provides coverage needs money circulation banknotes and coins.
(2) The National Bank may charge fees for the circulation of banknotes and coins as payment and can set the price, different denomination for banknotes and coins jubilee and commemorative their marketing. Article 63. Accounting of currency issued

total amount of banknotes and coins in circulation is highlighted in the National Bank as its liabilities. Liability shall not include banknotes and coins in cash reserves.

Article 64. Withdrawal of national currency (1) The National Bank has the exclusive right to withdraw from circulation any banknotes or coins previously issued.

(2) Upon expiration changeover withdrawn banknotes and coins will cease to be legal tender.
(3) The total amount of banknotes and coins withdrawn from circulation but not within the period prescribed by the National Bank is subtracted from the total currency in circulation recorded in the accounting records and recorded as income of the National Bank.

Chapter FINANCIAL IXSITUAŢIILE. AUDIT EXTERN.RAPOARTELE


Article 65. Financial year The financial year of the National Bank begins on 1 January and ends on 31 December.

Accounting procedures Article 66. National Bank is obliged to maintain permanently its accounting books and records in a manner that is accepted in international practice accounting procedures should accurately reflect the bank's operations and its financial situation.

Annual financial statements Article 67. At the end of each financial year, the National Bank prepares its financial statements in accordance with financial reporting standards accepted in international practice.

Article 68. External audit of the annual financial statements, accounts and records of the National Bank shall be subject to annual external audit in accordance with International Standards on Auditing, conducted by an external audit firm, independent, reputable and experienced recognized auditing central banks and international financial institutions selected by the supervisory Board on an auction basis. External auditor's report shall be published together with the annual financial statements of the National Bank. The same external audit firm can not be appointed consecutively for a period exceeding 5 years.
Article 69. Submission and publication of the

financial reports (1) The National Bank presents to Parliament annually within 4 months after the end of each financial year, a report that includes information on:
a) the financial statements confirmed by the external auditor;
B) the business and its operations for the year ended;
C) the economic situation of the state.
(2) National Bank on a quarterly basis, within up to 45 days after the quarter end, Parliament and Government a report containing analysis of macroeconomic situation and a medium term forecast of inflation and key macroeconomic indicators, to be published in time frame.
(3) The National Bank shall publish the financial statements and reports referred to in paragraphs (1) and (2), and any other financial and economic reports or studies.
(4) The National Bank publishes annual balance of payments of the state.
(5) The National Bank publishes statistics of the balance of payments, international investment position statistics and external debt of the Republic of Moldova:
a) provisional data - quarterly, within 3 months from the end of the quarter;
B) Final data - annually, within 9 months after the end of the reporting year.
MISCELLANEOUS Chapter XDISPOZIŢII



Preferential right Article 70. (1) The National Bank has unconditional preferential right to satisfy each requirement has been reached within any bank accounts or other assets that it maintains:
a) on their own;
B) the debtor's account respectively;
C) as collateral to secure its claims;
D) in any other way.
(2) The National Bank exercises the right mentioned above by deducting debt from bank accounts and selling other assets at a reasonable price, covering the requirements of the net proceeds of sale. The exercise of this right in accordance with this Article shall not require action. No competition between claims, including between claims based on proprietary, can not prevent the exercise of preferential right, except when there is clear evidence that the staff of the National Bank knew or should have known that at the time when these active with the exception of cash in the possession of the National Bank did not belong to the debtor concerned.

Prohibited Activities Article 71. (1) Except as provided in this Law, the National Bank may:
a) provide any financial assistance in the form of a loan either directly or indirectly, or by purchasing a loan, participation in a loan or use any instrument resulting from any bonds, assumption of debt or other similar actions;

B) engage in commerce, such as buying shares of companies, including shares finanaciare institutions, acquisition of an ownership interest in any financial, commercial, agricultural, industrial.
(2) Notwithstanding the provisions of paragraph (1), the National Bank may:
a) to make capital investments totaling more than 20% of its capital and reserves in institutions that have committed to provide only the National Bank and other financial institutions on the assessment services, collateral management and maintenance, data processing and transmission, printing, financial instruments, clearing operations, courier services and property sale;
B) invest its financial resources in securities (claims) Liquid issued by reliable institutions;
C) purchase, to cover sums due to it, any rights referred to in paragraph (1) b) provided that it is free from all these rights as soon as possible;
D) grant credit to any of its employees in the regulation approved by the Supervisory Board.
Article 72. Collection of statistical information
(1) The National Bank collects primary statistical information necessary to achieve the objectives and fulfill its tasks, the competent state authorities, financial institutions and other legal entities and individuals.
(2) The National Bank contributes to harmonizing rules and practices governing the collection, processing and use of statistics within its field of competence.
(3) Notwithstanding Article 5 (1) and (2) of the Law on the National Bank shall establish by regulation the types of primary statistical information required and the presentation of their establishments are obliged to submit to the National Bank and the conditions of secrecy of such information.
(4) In carrying out the duties of his Article 8 (1) The National Bank may publish aggregated statistical data which, in whole or in part.
(5) The provisions of this article refers to compile and publish statistics and balance of payments, international investment position and external debt.
Article 73 - repealed.
Article 74. Standards of good administration
(1) The National Bank must exercise their powers under this law equitably and uniformly and in accordance with sound administrative practices. The Bank does not use its powers for purposes beyond its jurisdiction and objective.
(2) The decisions of the National Bank taken in accordance with this Law shall be impartial, motivated only by objective and carried out with fairness and restraint.
Article 75. Sanctions and remedies
(1) National Bank in the event of infringement of the law or of its normative acts, licensing terms, the requirements of licenses, permits, approvals and confirmations issued by Bank national (hereinafter licenses), the shortcomings in the activity of the non sanctions and remedial measures imposed (the violations) may apply the following sanctions:
a) penalties under the financial institutions Act No. 550-XIII of 21 July 1995;
B) issuing a written warning;
C) applying and levying the fine indisputable foreign exchange entity (other than a bank) in size from 5000 up to 25,000 lei;
D) partial or total suspension of activity;
E) withdrawal of the license, authorization.
(2) As a result of infringements referred to in paragraph (1), the National Bank may apply the following corrective measures:
a) the remedial measures provided by Law No. financial institutions. 550-XIII of 21 July 1995;
B) issuing prescriptions;
C) an agreement;
D) other measures that do not contravene the law and powers of the National Bank.
(3) The sanctions under paragraph (1) may be applied simultaneously with the remedial measures referred to in paragraph (2) or independent of them.
(4) written warning states usually informed about the violations found, the requirement winding deadline violations and recommendations on how to deal with them and warning of the possibility of applying tougher sanctions and / or remedial measures if the deadline nelichidării the infringements or repeated for committing them.

(5) A warning can be applied simultaneously with the application of sanctions or other corrective measures or independent of them.
(6) total or partial suspension of the activity has the effect of prohibiting a certain period to pursue activities / all activities, activity subdivisions or to cover operations / all operations for which the license / authorization. In case of suspension of activity is not allowed concluding new contracts or reîncheierea a new term contracts previously concluded, the performance of which is linked to the activity suspended or future performance of transactions or operations prohibited.
(7) During the suspension of work, the validity of the license / authorization issued in a specified period is not extended.

Violations Article 751. Establishment (1) The facts constituting the violation is made by the staff of the National Bank or by auditors, accountants and other qualified person authorized for this purpose by the National Bank (hereinafter inspectors ), based on the reports and other data submitted by law and regulations of the National Bank or at the request express written National Bank (control ex officio) over the course of inspections carried out at the premises of the bank / unit exchange (control field).
(2) The violations is made, where appropriate, through analysis and study of the constituent documents, regulations and internal policies, reports and the reports, the internal documents drawn up as a result of conducted transactions, acts out accounting, acts of nature external and internal business (contracts, certificates, records, applications, notes etc.), including those relating to shareholders (association), beneficial owners, customers, contragenţii controlled person, other documents and data on paper and / or electronic form.
(3) Control field is carried out under a written decision of the National Bank, containing: number and date of the decision; name and address of the person tested; control type (complex, thematic, etc.); where appropriate, subject to review during the activity (excluding control over the liquidation of violations found previously); date of commencement of the check; name, surname inspectors mandated to audit; position, name, surname and signature of the person who issued the decision.
(4) Control of office shall be effected without issuing a written decision.
(5) Control over compliance with requirements in permits issued by National Bank currency is carried out under the control of the office.
(6) Control of the activities of the foreign exchange is carried out under Law no. 62-XVI of 21 March 2008 on currency regulation, taking into account the provisions of this Article.
(7) Based on the control field is drawn in two copies, one act (report) of control results, which include: date and place of completion; number and date of decision on the basis of which the control happened; name and address of the person subject to review, and if the presence of the representative of the controlled - name and its function; period (time) control; information on inspection results, including violations found and their character; name, head office of the representative of the executive or controlled who received the document, signature and receipt or refusal to sign the act; the names and signatures of the inspectors who carried it out. Given the drawing up of the results is the date of handing control (receipt) thereof in accordance with paragraphs (8) and (9).
(8) If the pitch control on bank activity, it is forwarded (i handed) a copy of the preliminary act of control results presentation, where appropriate, in writing, within 5 working days from the date He said the report was drafted, the argument disagreement, attaching, where appropriate, the relevant documents. Following examination of objections and explanations of the bank, there shall act on the results of the check on the ground (2 copies), a copy of which is sent (be handed) bank.

(9) If the pitch control on the activity of the foreign exchange, a copy of the document on the results of the control field is sent (be handed) controlled person (representative) for signature and, where appropriate, for presentation writing within 5 working days of the date of the act in question, the argument disagreement, attaching, where appropriate, the relevant documents.
(10) If the default control breaches, information on violations found are controlled to the person, asking him to liquidate it. In case of disagreement with the results of the control office, the person is entitled, within 5 working days from the date of handing the (receiving) information, to submit a written explanation of the disagreement, attaching the relevant documents.
(11) Date of finding a violation is considered:
a) if the pitch control - report date of control results;
B) in case of default - date information to the alleged infringements.
Article 752. The imposition of sanctions and measures
remedial
(1) sanctions and remedial measures applicable to banks by the National Bank's governing bodies empowered to do so under the Law on Financial Institutions no. 550-XIII of 21 July 1995.
(2) penalties and remedial measures to control foreign agents, mentioned in Article 58 (2) b) and c) of Law no. 62-XVI of 21 March 2008 on currency regulation and to the holders of authorizations issued by the National Bank shall apply the Governor, Senior Deputy Governor, Deputy Governors, except for activity suspension and withdrawal of license / authorization which are the competence of the Executive Committee.
(3) The Executive Committee may issue decisions on sanctions and remedial measures to any person controlled.
(4) The application of sanctions is prescribed within 6 months after finding a violation, but not exceeding 3 years from the date of its commission, unless the law provides otherwise.
(5) The actual penalties take into account the seriousness of infringements committed, the repetition of their personal and real circumstances. Repeated infringement is considered within 2 years from the date of finding the same kind of infringement.
(6) sanctions and remedial measures shall be fulfilled immediately after receipt of the decision on their application if the decision specifies otherwise.
(7) Issue written warning, suspension and revocation of business license of the foreign exchange activity (other than banks) is carried out under Law no. 62-XVI of 21 March 2008 on currency regulation.
(8) Imposing fines on foreign exchange entity (other than a bank) may be performed if committed by it two or more violations that, according to Law no. 62-XVI of 21 March 2008 on currency regulation, serve as basis for the issuance by the National Bank of warning.
(9) fine imposed on bank size is calculated from the amount of the capital as of the last reporting date, preceding the month in which the infringement was ascertained.
(10) The decision on fines is an enforceable document.
(11) The decision on fines are handed over personally controlled person or mailed by registered mail within 3 working days from the date of issue. In case of failure to pay the fine within 10 days from receipt of the decision on sanctioning of National Bank:
a) bank levy undeniably fine by deducting the amount of the fine in bank accounts with the National Bank;
B) submit to the bank holding the account of the foreign exchange (other than banks) decision, accompanied by undeniable order to levy the fine collection;
C) present decision (extract of the decision) The bailiff, as established by the Enforcement Code of the Republic of Moldova, in case of withdrawal / refund that decision because of the lack or insufficiency of funds in the bank account of the exchange unit Currency (other than banks), as well as for fine application to others.
(12) The fine shall be paid into the state budget.

(13) Decision (extract of the decision) on fines, following the collection in its entirety, shall be returned with the inscription National Bank of enforcement.
(14) The person against whom sanctions were applied (other than revocation of license / permit) and remedial action is required to notify the National Bank about elimination of circumstances that led to sanctions and remedial action and, where appropriate to undertake other actions provided by the decision on sanction and measure corrective and normative acts. National Bank has the right to verify that the removal of circumstances mentioned.
(15) The person who withdrew the license / authorization is required, within 10 days, and if the bank license withdrawal - within 3 working days of the adoption of the decision to withdraw the license / authorization to submit to the National Bank original license / permit withdrawn and authorized copies of the license.

Article 76. Dispute resolution Disputes between the National Bank and other subjects are examined by the competent court.
TRANSITIONAL AND FINAL Chapter XIDISPOZIŢII



Article 76.1 (1) Every year for the budget year, the Government and National Bank reach agreement on the balance of state debt previously contracted from the National Bank.
(2) Notwithstanding the provisions of art. 3:41 p.m., the Executive Board will approve the updating of previously granted loans in MDL and accepting state reemisiunii state securities issued following the conversion of previously contracted loans.
(3) concluded loans are guaranteed with interest at market and negotiable debt with maturities corresponding to the maturities of loans they guarantee, issued and delivered to the State National Bank. For each re-concluded loan and for each trance state securities reissued between the Government, through the Ministry of Finance and the National Bank conclude an agreement. The agreement shall specify the basic amount of the loan or securities re- concluded, its maturity, interest and other charges.

Article 77. (1) This Law shall enter into force on the date of publication.
(2) Upon the entry into force of this law is repealed:
- Law No 599-XII of 11 June 1991 on the State National Bank of Moldova (NBM);
- Parliament decree No 600-XII of 11 June 1991 on the implementation of the Moldovan Law on the State National Bank of Moldova;
- Parliament decree No 667-XII of 24 July 1991 on the approval of the National Bank of Moldova Statute;
- Law No 884-XII of 23 January, 1992 on introduction of amendments to the Law on the State National Bank of Moldova;
- Parliament decree 976-XII of 19 March 1992 on the appointment of Mr. Leonid TALMACI as Governor of the State National Bank of Moldova;
- Article 4 (1) of the Parliament Decision Nr.1201-XII of 19 November 1992 on solving socio-economic problems exposed in the report of the Prime Minister;
- Law nr.1202-XII of 19 November 1992 amending the Law on the National Bank of Moldova State (NBM);
- Law No.1234-XII of 15 December 1992 amending and supplementing the Law on the State National Bank of Moldova;
- Parliament decree No 1235-XII of 15 December 1992 amending Article 19 of the Statute of the State National Bank of Moldova;
- Law No. 125-XIII of 27 May 1994 amending and supplementing the Law on the State National Bank of Moldova (NBM);
- Parliament Decision No. 125-XIII of 27 May 1994 on the implementation of the Law amending and supplementing the Law on the State National Bank of Moldova (NBM);
- Parliament Decision no.128-XIII of 27 May 1994 amending section 5 of the Parliament Resolution on the implementation of the Law on the State National Bank of Moldova;
- Parliament Decision nr.281-XIII of 11 November 1994 amending and supplementing the Statute of the State National Bank of Moldova (NBM).
(3) It is proposed to cancel the Presidential Decree of 4 June 1991 on the National Bank of Moldova.
(4) - repealed.