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Law No. 66 Of 21 April 1997 On The Salaries Of Members And Staff Of The National Commission On Securities And Stock Exchanges Of Personnel

Original Language Title:  LEGE nr. 66 din 21 aprilie 1997 cu privire la salarizarea membrilor şi personalului Comisiei Naţionale a Valorilor Mobiliare, precum şi a personalului burselor de valori

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LEGE no. 66 66 of 21 April 1997 on the salary of the members and staff of the National Securities Commission, as well as the staff of the stock exchanges
ISSUER PARLIAMENT
Published in OFFICIAL MONITOR no. 73 73 of 23 April 1997



The Romanian Parliament adopts this law + Article 1 The remuneration of the members of the National Securities Commission, as well as of its staff, shall be made taking into account the role, importance and liability of this institution. + Article 2 The coefficients of ranking the basic salaries for the functions forming the object of this law are established in relation to the 1.00 coefficient used for the staff in the budget sector, according to the law. + Article 3 The basic salary ranking coefficients for the members of the National Securities Commission are set out in Annex no. 1. + Article 4 The coefficients of ranking of basic salaries for specific specialized execution functions in the apparatus of the National Securities Commission are provided in Annex no. 2. + Article 5 The National Securities Commission will be able to include in its own states of functions, if deemed necessary, and other functions outside the specific specialized ones, by taking over the respective functions from the Annexes to Law no. 40/1991 on the remuneration of the President and the Government of Romania, as well as of the staff of the Presidency, Government and other bodies of executive power, republished, and, respectively, of the annexes to Government Decision no. 281/1993 on the payroll of the staff in the budget units, as amended. + Article 6 (1) The employees of the National Securities Commission assigned to specific specialized execution functions or, as the case may be, in other execution functions, which coordinate the activity of some departments, directions, services or other compartments, have basic salaries corresponding to the execution function in which they are assigned, plus a driving allowance, set out in Annex no. 3, which is part of the basic salary and is awarded differentiated in relation to the liability of the management function fulfilled. ((2) The share of management positions may not exceed 20% of the total positions provided in the state of functions. + Article 7 Employees assigned to specific specialized execution positions or, as the case may be, in other execution functions, who receive the task of carrying out programs, activities, complex studies and the like, coordinating a collective, benefit from the period as long as they fulfil this task of an allowance which is part of the basic salary, established in relation to its complexity, within the maximum limits set out in Annex no. 3. + Article 8 (1) For the outstanding results obtained in the work carried out, the employees of the National Securities Commission may receive a monthly merit salary, up to 15% of the basic salary, and which is part of it. (2) Employees who benefit from merit salary shall be established, by decision, by the National Securities Commission, once a year, as a rule after the adoption of the state budget. For newly-hired staff, the merit salary can be awarded after a period of 6 months from employment. (3) The merit salary may be granted for no more than 15% of the total number of posts provided in the state of office, of which at least two thirds will be used for execution functions. + Article 9 (1) The transition into the immediate upper gradation or the increase of the salary, if it is provided between the limits, as well as the establishment of the driving allowances shall be made once a year, as a rule after the adoption of the state budget, with the approval The National Securities Commission. (2) At the transition to the immediate upper gradation or to the increase of the salary, the personal qualities are taken into account, embodied by the results obtained in the professional activity, noted with the rating "very good" or "good" in the previous year. (3) The minimum age required for the transition into the immediate upper gradation is 2 years. Exceptionally, the minimum age can be reduced to 6 months. + Article 10 (1) Employment on a vacancy, as well as the advancement in office, in degrees or professional steps, of the execution personnel, other than the specific specialized one, shall be done by competition or examination, under the law, in relation to the competence professional and with the results obtained in activity. The basic salary granted to employment or, as the case may be, to advancement, shall be that provided for in the 1st gradation of the position, degree or professional step in which the classification is made. (. The minimum degree or professional stage for advancement in the immediate upper stage or step shall be at least 2 years. Exceptions to this provision are the persons assigned to the positions provided with the debuting salary. (3) Persons classified with the debuting salary will thus be salarized until the expiry of the trial period. Advancement in the degree or professional stage immediately superior is done on the basis of the exam. In case of non-passing of the exam, the trial period can be extended only once by 3 months. (4) Exceptionally, by decision of the National Securities Commission may be approved the presentation at the competition or examination of employees who have demonstrated professional competence, but do not meet the minimum age condition provided for in para. ((2). (5) Employees who pass from positions with fixed salaries or between limits, on positions to which salaries are established on gradations, fall, by appointment, to the graduation to provide them with a basic salary close to the one had. Under the same conditions are the employees who pass from positions with fixed salaries on positions with salaries between limits. + Article 11 (1) Persons salarized according to this law benefit, at the basic function, from an increase of seniority in work of up to 25% calculated on the basic salary, corresponding to the time actually worked in normal working hours, as follows: -from 5 to 10 years10-from 10 to 15 years15-from 15 to 20 years20-more than 20 years25 (2) The sport of seniority shall be paid as from the first of the month following that in which the seniority was fulfilled. (3) Retirement for the age limit, who reengages in work, according to the law, benefits from the increase of seniority corresponding to the seniority in work endowed after the date of retirement. + Article 12 (1) Hours rendered over the normal duration of working time by the personnel assigned to execution functions shall be compensated with due time off, under the conditions established by the National Securities Commission. If the work performed could not be compensated with adequate free time, the overtime is paid with an increase calculated on the basic salary, as follows: a) 50% of the basic salary for the first two hours of exceeding the normal working day; b) 100% of the basic salary for the following hours; with increase of 100% are also paid the hours worked on weekly rest days or in the other days when, in accordance with the legal regulations in force, no work is done. (2) Work over the normal duration of working time can also be performed the bonuses provided in par. ((1) may be paid only if the overtime has been ordered by the head of the compartment or the sector of activity, without exceeding 120 hours annually. In very special cases it can be approved to carry out overtime over this ceiling, but not more than 360 hours annually. + Article 13 (1) Employees who work in hard working conditions, in printing and multiplication workshops, receive an increase of up to 15% of the basic salary, corresponding to the time worked under these conditions. Jobs, personnel categories, as well as the amount of the increase are approved by the National Securities Commission. ((2) Employees who, according to the working hours, operate during the night, between 22,00 and 6,00, benefit, for hours worked during this period, by an increase of 25% of the basic salary, if the time thus worked represents at least half of the normal working hours. + Article 14 (1) For the individual award of the staff of the National Securities Commission, a monthly prize pool shall be established, by applying a quota of up to 2% on the salary fund provided for in the income and own expenses budget, approved. From this fund can be awarded prizes during the year of employees who have realized or contributed directly to obtaining results in activity, appreciated as valuable. (2) If savings are made in the chapter "Expenses of personnel", provided in the own budget of income and expenses, the National Securities Commission may award prizes, during the year, within the limit of 2% of the salary fund provided in the revenue and expenditure budget, approved. The individual awards are approved by the National Securities Commission. + Article 15 (1) For the work carried out, the salarized personnel according to this law benefit at the end of the calendar year from an annual prize of up to a basic average monthly salary, made in the year for which the payment is made. (2) The annual award may be reduced or cancelled by the National Securities Commission in the case of those who during the year carried out an improper activity or had deviations for which they were disciplined. + Article 16 Persons classified within the National Securities Commission as a collaborator, in order to carry out some works, benefit from the rights set out in Annex no. 4. + Article 17 (1) The employment of personnel by the cumulation of functions shall be done with the agreement of the National Securities Commission and of the management of the unit to which the person concerned has the basic function. (2) If a part of the program of the cumulative function overlaps the one from the basic function in which it is assigned, it will ensure the delay of the program. + Article 18 The person temporarily appointed instead of a person exercising leadership and who is absent from the institution for a period of more than 30 calendar days and does not receive a salary during that period receives, in addition to the basic salary of the position, degree or professional step in which it is assigned, the allowance corresponding to the driving duties it exercises. + Article 19 The members and staff of the National Securities Commission, who make trips in the interest of the service, in other localities than the headquarters of the unit in which they work, are entitled to the settlement of accommodation expenses and to the travel allowance, in the same conditions as staff in public institutions. + Article 20 For the specific activity carried out, some categories of personnel, established by the National Securities Commission, benefit from a confidentiality increase of 10% of the basic salary. + Article 21 The president, vice president and members of the National Securities Commission are state dignitaries. + Article 22 The basic salaries for other functions than those in the Annexes to this Law, as well as the conditions of employment are set out in Annex no. 8 8 to Law no. 40/1991 , republished, higher by 20% for the staff of the National Securities Commission. + Article 23 Members of the National Securities Commission, as well as its staff, sent abroad, invited to the account of the organizers or other external partners, for scientific actions, improvement, exchange of experience, scholarships, documentation, congresses, conferences and symposiums or other forms of international meetings and events, benefit from the rights established by the legal regulations in force for the budget units. + Article 24 (1) The Appeals in connection with the awarding of the gradations, bonuses, prizes and other rights, which shall be established according to the provisions of this Law, shall be settled by the National Securities Commission. (2) Appeals will be filed within 5 days from the date of communication in writing of the contested measure. (3) The resolution of appeals is made within 30 days of the referral. (4) Against the judgment given by the National Securities Commission may appeal to the competent courts. ((5) Appeals in connection with the establishment of salaries, as well as those regarding the unilateral modification of the salaries provided for in the individual labor contract shall be settled by the competent courts. + Article 25 Employees with leadership duties will be subject to a 3-month trial period. If at the end of the trial period the employee has proved himself corresponding to the respective function, the appointment will be final from the start date of the trial period. If the employee who comes from the same unit has proved inadequate in that position, he will have passed in the execution function previously had in the unit. + Article 26 During the term of office of member of the National Securities Commission, his individual employment contract shall be suspended. Upon termination of the term of office, the person concerned shall resume operations in the execution of the same individual employment contract. + Article 27 The regulation of the rest leave and the other holidays is made by regulation approved by the National Securities Commission, under the law. + Article 28 The basic salaries corresponding to the ranking coefficients and the driving allowances provided for in this Law are gross and taxable. They will be updated taking into account the indexations granted in accordance with the provisions of the Government decisions. + Article 29 The salaries and other rights provided for in this Law shall be granted with the first time of the month in which the law enters into force. + Article 30 Annexes no. 1-4 are an integral part of this law. + Article 31 The salary of the stock exchange staff is made according to the own regulations adopted by the general meeting of the association of each stock exchange. + Article 32 On the date of entry into force of this Law, the art. 120 120 of Law no. 52/1994 on securities and stock exchanges. This law was adopted by the Chamber of Deputies at the meeting of April 1, 1997, in compliance with the provisions of 74 74 para. (2) of the Romanian Constitution. CHAMBER OF DEPUTIES PRESIDENT ION DIACONESCU This law was adopted by the Senate at the meeting of April 1, 1997, in compliance with the provisions of art 74 74 para. (2) of the Romanian Constitution. SENATE PRESIDENT PETRE ROMAN + Annex 1 RANKING COEFFICIENTS of basic salaries for members of the National Securities Commission No. ) 2.Vice-president5, 75 3.Member of the Commission5.50 ----------- Note *) By assimilation with the office of minister. The basic salary ranking coefficients will be updated with the modification of the ranking coefficient with which the assimilation for the position of president was made. + Annex 2 RANKING COEFFICIENTS of the basic salaries for specific specialized execution functions in the apparatus of the National Securities Commission No. The level of studiesCoefficients of salary ranking 1.Regulator capital markets, market policy analyst, inspector authorization, securities controller, supervisor, investigator; degree IS4,10-4,40 *) capital, market policy analyst, authorization inspector, securities controller, supervisor, investigator; degree IIS3,70-4.00 *) 3.Regulatory capital markets, market policy analyst, authorization inspector, securities controller, supervisor, investigator; degree IIIS3,30-3,60 4.Regulator markets capital, market policy analyst, authorization inspector, securities controller, supervisor, investigator; assistentS2,35-2,80 *) 5.Head of cabinet M1,30-1,70 * *) 6.Office secretary M1,15-1,45 * *) ------------- *) By assimilation with the functions of government adviser, governmental expert and consultant in the Government apparatus, as the case may be. **) By assimilation with the positions of chief cabinet II and cabinet secretary, respectively, in the Government apparatus, as the case may be. NOTE: The basic salary ranking coefficients will be updated with the modification of the basic salary ranking coefficients for the functions with which the assimilation was made. + Annex 3 INDEMNITIES for the management positions of the National Securities Commission No. ) 1.General Manager of department122.200 2.Deputy General Manager of Department108.600 3.Directory108.600 4.Deputy Director of Departments97.600 5.Chief of services76.200 6.Head office of departments related to departments54.100 ---------- Note *) The maximum allowances for the management positions are equal to those provided for the positions of general manager, deputy general manager, director, deputy director, head of service, head of office, provided in Annex no. 8 8 section I lit. B la Legeanr. 40/1991, republished, in force on January 1, 1997, and will be updated with their amendments. + Annex 4 RIGHTS persons classified as a collaborator with the National Securities Commission 1. Persons assigned to the National Securities Commission, as a collaborator, benefit from a monthly allowance of up to the level of the minimum gross basic salary per country, established in relation to the period of collaboration and with the importance of work Persons operating in specific specialized execution positions, as a collaborator, benefit from a monthly allowance of up to 50% of the basic salary provided by law at the functions in which they are assigned, established in relation to the time affected by the collaboration, with the complexity and with the importance of 2. For some occasional works that cannot be carried out by existing staff, collaborators can be used (stenodactylograph, translator, interpreter, translator and others), paid by the hour. The hourly rate is set accordingly with the basic salary provided by law for that function. 3. Persons assigned as a collaborator will conclude civil conventions with the National Securities Commission. 4. If these persons carry out collaboration activity in a locality other than that in which they reside, they are also entitled to the settlement of transport and accommodation expenses, according to the tariff practiced by the hotel units, as well as to a daily allowance at the level of the one established for the employees of the budget units, throughout the period 5. The civil conventions concluded by these persons shall be subject to the provisions of Law no. 83/1995 on some measures to protect people in work. ---------