Law No. 176 Of 9 October 1998

Original Language Title:  LEGE nr. 176 din 9 octombrie 1998

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Law No. 176 of 9 October 1998 approving the Emergency Ordinance of Government No. 87/1997 on the amendment of art. 8 para. 1 of Ordinance No. 59/1994 concerning regulation of export-import operations that are carried out through clearing, barter and international economic cooperation on the basis of commercial agreements and the ISSUING of government payments to PARLIAMENT Published in MONITORUL OFICIAL nr. 388 of 13 October 1998, the Romanian Parliament adopts this law.


Article 1 shall approve the Emergency Ordinance of Government No. 87 of 23 December 1997 to amend art. 8 para. 1 of Ordinance No. 59/1994 concerning regulation of export-import operations that are carried out through clearing, barter and international economic cooperation on the basis of commercial agreements and Government payments, as published in the Official Gazette of Romania, part I, no. 375 of 24 December 1997.


Article 2 article 8 1 of the Government Ordinance. 59/1994 concerning regulation of export-import operations that are carried out through clearing, barter and international economic cooperation on the basis of commercial agreements and Government payments, as published in the Official Gazette of Romania, part I, no. 245 of 30 august 1994 and approved by law No. 127/1994, as amended by the Government's Emergency Ordinance No. 87/1997, alter it and shall read as follows: "the settlement of transactions in lei export carried out with long-term payment in instalments shall be made as cash from foreign banking documents confirmed, at the exchange rate of leu/dollar S.U.A. in force on the date of receipt of export value respectively. These provisions apply to export operations carried out under the clearing, barter and international economic cooperation, conducted after 1 January 1990 and which were not settled until the internal date of this emergency Ordinance. Settlement of transactions in lei of import is made on the basis of the customs value determined at the rate of exchange of the leu/dollar S.U.A. at the time customs import declaration. "
This law was adopted by the Chamber of deputies at its meeting on 3 February 1998, in compliance with the provisions of art. 74 para. (2) of the Constitution of Romania.
p. CHAMBER of DEPUTIES PRESIDENT, VASILE LUPU, this law was adopted by the Senate at its meeting on 9 September 1998, in compliance with the provisions of art. 74 para. (2) of the Constitution of Romania.
p. Senate CHAIRMAN MIRCEA IONESCU-QUINTUS----------