Law No. 29 Of 18 May 1994

Original Language Title:  LEGE nr. 29 din 18 mai 1994

Read the untranslated law here: https://www.global-regulation.com/law/romania/3070468/-lege-nr.-29-din-18-mai-1994.html

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LAW No. 29 of 18 May 1994 authorizing the Government to approve the negotiation in order to recover debts from the Romanian foreign trade and international economic cooperation, carried out before 31 December 1989 was published in PARLIAMENT ISSUING the OFFICIAL GAZETTE NR. 129 of 25 May 1994, the Romanian Parliament adopts this law.


Article 1 shall authorize the Government to approve the negotiation in order to recover debts from the Romanian foreign trade and international economic cooperation, carried out before 31 December 1989, as well as the methods of their collection.


Article 2 the Ministry of finance, Ministry of Commerce, Ministry of Foreign Affairs and the National Bank of Romania will negotiate rights and currency will recover due the Romanian State under art. 1 of this law, foreign payments, import of goods receipts, service, investment interest for Romanian side, assignment for valuable consideration of claims, taking into account the concrete circumstances of the debtor.
In a situation where you can't get immediate external debt recovery, the Ministry of finance together with the Ministry of Commerce, Ministry of Foreign Affairs and the National Bank of Romania shall have the power to negotiate payment rescheduling of debts in the short term, medium and long term.


Article 3 the amounts resulting from the recovery of currency rights covered by this law shall constitute sources for payment of debt service.


Article 4 the Government will submit to the Parliament for information, on a semi-annual basis, the collection of the Romanian State's foreign rights covered by this law.


Article 5 within 30 days from the date of entry into force of this law, the Ministry of finance will develop and present to the Government for approving the methodological norms for the application.
This law was adopted by the Senate at its meeting on 6 May 1994, in compliance with the provisions of art. 74 para. (2) of the Constitution of Romania.
p. SENATE CHAIRMAN ION SADANI this law was adopted by the Chamber of deputies at its meeting on 9 May 1994, in compliance with the provisions of art. 74 para. (2) of the Constitution of Romania.
PRESIDENT Of The CHAMBER Of DEPUTIES ADRIAN NASTASE — — — — — — — — — — — — — — — — — — — — — — — — — — —