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Law No. 151 Of 24 July 1997 Approving Government Emergency Ordinance Nr. 10/1997 Concerning The Diminishing Financial Losses And Lock In The Economy

Original Language Title:  LEGE nr. 151 din 24 iulie 1997 pentru aprobarea Ordonanţei de urgenţă a Guvernului nr. 10/1997 cu privire la diminuarea blocajului financiar şi a pierderilor din economie

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LEGE no. 151 151 of 24 July 1997 for approval Government Emergency Ordinance no. 10/1997 on the reduction of financial bottlenecks and losses in the economy
ISSUER PARLIAMENT
Published in OFFICIAL MONITOR no. 172 172 of 28 July 1997



The Romanian Parliament adopts this law + Article UNIC Approval Government Emergency Ordinance no. 10/1997 on the reduction of the financial deadlock and losses in the economy, published in the Official Gazette of Romania, Part I, no. 72 of 22 April 1997, with the following amendments and additions: 1. The introductory part of Article 2 (1) shall read as follows: "" Art. 2. -(1) Between companies and between them and autonomous kings, payments may be made using the following guaranteed instruments and payment methods: " 2. Article 2 (1) (a) shall read as follows: "" a) cambie and promissory note, accepted in advance by the principal obligor; " 3. Article 4 (5) shall read as follows: " (5) The conversion of debts to maturity in shares or shares will not be made at companies in reorganization or judicial liquidation according to Law no. 64/1995 on the procedure of reorganization and judicial liquidation, published in the Official Gazette of Romania, Part I, no. 130 of 29 June 1995, as amended, or in companies in liquidation, in accordance with the provisions of Law no. 31/1990 on companies, published in the Official Gazette of Romania, Part I, no. 126-127 of 17 November 1990, as amended. Also, the conversion of debts to maturity in shares or shares will not be made to companies whose shares or shares have been offered for sale by the State Property Fund. " 4. Article 6 (e) shall read as follows: " e) completion of operations and initiation of liquidation, according to Law no. 31/1990, on the basis of the decision of the general meetings of the shareholders or associates, convened no later than 5 days after the entry into force of this emergency ordinance, by the administrators of the companies in impossibility of payment. " 5. Article 8 shall read as follows: "" Art. 8. -The provisions of this emergency ordinance do not apply to companies for which the State Property Fund previously ordered liquidation under Law no. 31/1990 and the Law on privatization of companies no. 58/1991, published in the Official Gazette of Romania, Part I, no. 169 169 of 16 August 1991, as amended. '; This law was adopted by the Chamber of Deputies at its meeting on July 10, 1997, in compliance with the provisions of 74 74 para. (2) of the Romanian Constitution. p. CHAMBER OF DEPUTIES PRESIDENT ANDREI IOAN CHILIMAN This law was adopted by the Senate at the meeting of July 10, 1997, in compliance with the provisions of art 74 74 para. (2) of the Romanian Constitution. SENATE PRESIDENT PETRE ROMAN ----------------