Law No. 78 Of 20 July 1992 To Amend Article 12. 212 Of The Law Nr. 31/1990 On The Companies

Original Language Title:  LEGE nr. 78 din 20 iulie 1992 pentru modificarea art. 212 din Legea nr. 31/1990 privind societăţile comerciale

Read the untranslated law here: https://www.global-regulation.com/law/romania/3070236/-lege-nr.-78-din-20-iulie-1992-pentru-modificarea-art.-212-din-legea-nr.-31-1990-privind-societile-comerciale.html

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LAW No. 78 of 20 July 1992 to amend article 12. 212 of the law nr. 31/1990 on the ISSUING companies, the PARLIAMENT Published in MONITORUL OFICIAL NR. 178 of 28 July 1992 Parliament adopts this law.


Article 1 in article 212 of the law nr. 31/1990 on the companies change and make and shall read as follows: "within companies wholly or partly owned by the State, by applying the provisions of art. 39 of law No. 58/1991 privatization of companies, state capital interests will be represented by two agencies mandated by the Ministry of economy and finance and a trustee of the mandated Minister or, where appropriate, by the local Council of the County times.
Commercial banks with State-owned, its interests will be represented by two agencies mandated by the Ministry of economy and finance and a mandated National Bank trustee.
Mandating is done on a contract basis.
The representatives referred to in paragraph 1. 1 and 2 may not be part of the boards and may not be directors of the company concerned.
Members of the Board of Directors of companies in which the State is the sole shareholder shall be appointed and shall be replaced under the present law, with the consent of the relevant Ministry or, where appropriate, of local times. Administrators, as well as their family members and relatives up to the second degree inclusive cannot be at the same time, employers or associates for companies with private capital, with the same profile, or with which they are in direct trade relations.
The censors to companies with state capital will be representatives of the Ministry of economy and finance. "


Article 2 the words "Council of State" the proxies for the laws and decisions of the Government, from the date of publication of this law in the Official Gazette, shall be replaced by the words "Trustees authorized to represent the interests of the State capital.
This law was adopted by the Senate at its meeting on 4 June 1992, in compliance with the provisions of art. 74 para. (2) of the Constitution of Romania.
Academic SENATE PRESIDENT ALEXANDRU BÂRLĂDEANU this law was adopted by the Chamber of deputies at its meeting of 9 June 1992 in compliance with the provisions of art. 74 para. (2) of the Constitution of Romania.
PRESIDENT Of The CHAMBER Of DEPUTIES MARTIAN D — — — — — — — — — — — — —