Law No. 90 Of 28 April 1998 On Approval Of The Government Ordinance. 51/1997 On Leasing Operations And Leasing Companies

Original Language Title:  LEGE nr. 90 din 28 aprilie 1998 pentru aprobarea Ordonanţei Guvernului nr. 51/1997 privind operaţiunile de leasing şi societăţile de leasing

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Law No. 90 of 28 April 1998 on approval of the Government Ordinance. 51/1997 on leasing operations and leasing companies ISSUING Parliament Published in MONITORUL OFICIAL nr. 170 of 30 April 1998, the Romanian Parliament adopts this law.

Article 1 shall be subject to approval of the Government Ordinance No. 51 of 28 august 1997 concerning the leasing operations and leasing companies, issued pursuant to art. and (b). c) of law No. 134/97 for empowering the Government to issue ordinances, and published in the Official Gazette of Romania, part I, no. 224 of 30 august 1997, with the following amendments and supplements: 1. In article 1, paragraphs 1 and 2 shall read as follows: "nothing in this Ordinance shall apply to leasing transactions in which one party, called the lessor, undertakes, at the request of the other party, called the user, to buy or to take over from a third party vendor named a movable or immovable and to transmit the user's possession or use of its for a royalty payment called for purposes of exploitation or, where appropriate, the acquisition of the asset.
Leasing operations have as their object: (a) the use of movable assets), including the value of the securities;

(b) the use of industrial equipment);

c) using the commercial real estate, purchased or built by a company called lease, hereinafter real estate company for Commerce and industry-S.I.C.I.;

d) using trade Fund or one of its intangible assets;

e) use of durable goods and housing buildings with destination for individuals, with due regard for the legal provisions relating to consumer protection. "

2. Article 2 shall read as follows: Art. 2.-to carry out an operation lease, any physical or legal person will formulate a company leases a quote farm, accompanied by the list of goods that will be the subject of the lease, as well as documents showing its financial situation. "
3. Article 3 shall read as follows: Art. 3. within the context of leasing operations, the user has the right to choose their supplier, unless the leasing company has the quality of provider, and the company that will provide good agreement with leasing company. "
4. In article 4, subparagraphs b), c), (d)) and e) will read as follows: "(b)) to conclude the contract of sale and purchase with the supplier designated by the user, under the terms expressly formulated by him;

c) to conclude leasing contracts with the user and to transmit the latter, pursuant to the leasing contract, all rights deriving from the contract of sale and purchase, with the exception of the right of disposition;

d) to transmit the user's right of possession or ownership of the property purchased;

e) comply, at the expiry of the lease, the right of option, which consists in the possibility of acquiring the property, restitution or extension of the leasing contract, except where the contract has been provided otherwise; "

5. In article 4, after the letter f) is inserted in point g) with the following contents: ") to ensure, by means of an insurance undertaking, the assets offered in leasing system."
6. In article 4, paragraph 1 shall be inserted after paragraph 2 with the following content: "leasing Company is entitled to periodically check the condition of the property, how it operates, and to terminate the contract, if the user has not fulfilled its contractual obligations."
7. In article 5 (a)), and (c)) shall read as follows: ") is to receive the property at the time stipulated in the contract of sale and purchase and lease contracts, as appropriate;"
"c) disburse payments by way of royalty in the amount established in targeted and the dates fixed in the lease; royalty paid will be calculated taking into account a profit margin and asset depreciation of all or part of the input value; in the latter case, the depreciation will be determined by the parties, by mutual agreement, depending on the nature of the property and its value, in accordance with the provisions of law No. 15/1994 concerning the depreciation of capital restrained in tangible and intangible fixed assets, as amended; "
8. In article 5, after the letter f) introduce the letters g and h)) with the following contents: ") to repay the good in accordance with the provisions of the lease;

h) to operate the asset according to instructions, to ensure staff training intended for exploitation of the property, not to make changes without the consent of the property owner or leasing company, to keep the property under appropriate conditions for the duration of the contract. "

9. After article 5 shall be inserted in article 5 ^ 1 with the following content: "Art. 5 ^ 1. -In the context of leasing operations the rights and obligations of the Parties shall be stipulated in the contract and will not be limited to the provisions of art. 4 and 5. "
10. Article 6 shall read as follows: Art. 6. Where, at the expiry of the leasing contract, the user expressing their intention to buy the property by the leasing company must take into account previous payments made by way of royalty, and the residual value of the asset. "
11. Article 7 shall read as follows: Art. 7. the right of option consisting in the purchase of the asset, according to art. 4A. e) can exercise until the expiry of the leasing contract with the consent of the lessor, if the user makes a quote farm and irrevocable.
The user, on the basis of the contract concluded with the mandate of the leasing company, has the right of direct action on the manufacturer in case of complaints regarding the quality of service, technical assistance, required in the guarantee and post-guarantee period. "
12. In article 9, paragraph 2 shall read as follows: "leasing Company is not responsible for where the object covered by the leasing contract is not delivered to the user, unless the company has leasing and vendor quality."
13. Article 10 shall read as follows: Art. 10.-In case the user does not perform the obligation to pay redeventei, leasing company is entitled to terminate the lease with the obligation of the user to the return of the object and the installment payment due and outstanding, with damages, with the exception of any provision to the contrary. Damage-interests include the amount of the value of the redeventei to be paid until the expiry of the lease. "
14. Article 11 shall read as follows: Art. 11.-disclaimed option the user require the leasing company to pay damages, which will be equal to the residual value of the asset or the amount of its circulation, calculated from the date of expiry of the lease. "
15. The title of chapter IV shall read as follows: "Organization and operation of leasing companies ' 16. Article 14 shall read as follows: Art. 14.-leasing companies shall be established and operate according to law. 31/1990 on the companies, republished, and may include: a) undertakings which have as their sole object of leasing operations, according to the provisions of this Ordinance;

b) companies that have as their objects and industrial equipment, leasing of durable goods and buildings intended for commercial or industrial buildings of the residence times of trade Fund leases or of one of its elements. "

17. Articles 15 to 18 are repealed.
18. The title of Chapter VI and chapter V becomes, shall read as follows: "chapter V Advertising leasing operations" 19. Article 19 becomes article 16.
20. Article 20 shall be repealed.
21. Chapter VII, "special provisions" is removed.
22. In article 21 paragraph 1, point c) shall read as follows: "(c)) amortismentelor payment; their obvious shall be made to the lessor;
23. Article 21 shall become article 15.
24. Article 25 shall read as follows: Art. 25.-movables which are imported for use in the leasing system, complies with the customs regime of temporary admission, throughout the period of the leasing contract, with total exemption from the obligation to pay the amounts of the import duties relating thereto, including customs guarantees.
In the case of purchase of the goods imported into the system, according to lease term agreed between the parties on the basis of the leasing contract, the buyer is obliged to pay the customs duty calculated on the residual value of the asset from the time of the Act of sale, on the basis of the customs declaration for home use.
Where, at the expiry of the leasing contract, the user has not exercised the right of option to extend the contract, or for the acquisition of the asset, and the property has not been returned to the leasing company's fault or the provider, the user is obliged to pay customs duties on the residual value of the asset, if you continue to use the asset in question.
The time limit within which such goods are to be returned or to receive a new customs-approved treatment is the one agreed by the parties through a leasing contract, but not exceeding seven years. "

Article 2 contracts concluded before entry into force of this law shall remain valid.

Article 3

On the date of entry into force of the present law shall repeal the Government decision nr. 72/1993 regarding the treatment of imported goods subject to the lease transactions, published in the Official Gazette of Romania, part I, no. 44 of 26 February 1993, the Government Ordinance. 12/1995 on some measures regarding the treatment of machines, equipment and plants imported into leasing transactions, as well as customs treatment of raw materials, spare parts, materials and components used in the production of some economic agents, as published in the Official Gazette of Romania, part I, no. 26 of 3 February 1995, approved by law No. 59/1995, as well as any other provisions to the contrary.
This law was adopted by the Senate at its meeting on 30 March 1998, in compliance with the provisions of art. 74 para. (2) of the Constitution of Romania.
p. RADU VASILE, SENATE CHAIRMAN this law was adopted by the Chamber of deputies at its meeting on 30 March 1998, in compliance with the provisions of art. 74 para. (2) of the Constitution of Romania.
p. VASILE LUPU, PRESIDENT of the CHAMBER of DEPUTIES — — — — — — — — — — — — —

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