Advanced Search

Law No. 217 Of 17 November 1998 Approving Government Emergency Ordinance Nr. 39/1997 On The Amendment And Completion Of The Law Management Contract No. 66/1993

Original Language Title:  LEGE nr. 217 din 17 noiembrie 1998 pentru aprobarea Ordonanţei de urgenţă a Guvernului nr. 39/1997 privind modificarea şi completarea Legii contractului de management nr. 66/1993

Subscribe to a Global-Regulation Premium Membership Today!

Key Benefits:

Subscribe Now for only USD$40 per month.
LEGE no. 217 217 of 17 November 1998 for approval Government Emergency Ordinance no. 39/1997 amending and supplementing Law of the management contract no. 66/1993
ISSUER PARLIAMENT
Published in OFFICIAL MONITOR no. 446 446 of 23 November 1998



The Romanian Parliament adopts this law + Article UNIC Approval Government Emergency Ordinance no. 39 39 of 10 July 1997 amending and supplementing Law of the management contract no. 66/1993 , published in the Official Gazette of Romania, Part I, no. 151 of 11 July 1997, with the following amendments and additions: 1. In Article I, point 1, Article 1 shall read as follows: "" Art. 1. -The management contract is the agreement between a legal person carrying out an economic activity, as the owner, and a manager who is entrusted with the organization, management and management of the owner's activity, based on quantifiable targets and performance criteria in exchange for a payment. '; 2. In Article I, point 2, Article 2 shall read as follows: "" Art. 2. -The provisions of this law apply to companies in which the state holds shares related to a share of at least 50% of the share capital, including those resulting from the reorganization of autonomous regions. " 3. In Article I, point 5, Article 5 ^ 1 shall read as follows: "" Art. 5 5 ^ 1. -In order to appoint the manager, the board of directors, according to the mandate of the general meeting of shareholders/associates, constitutes a selection committee having the following duties: a) the elaboration of the tender request and the selection criteria of the manager, which he submits for approval to the board of directors; b) organization and conduct of the selection contest of the manager; c) designation of the winner of the selection contest. " 4. In Article I, point 6, Article 6 (1) shall read as follows: "The selection committee shall publish in two newspapers of national and local spread and shall display at the premises of the company the supply demand and selection criteria of the manager." 5. In Article I, point 7, Article 7 (2) shall read as follows: " The selection committee shall proceed, within 15 days from the expiry date of the deadline for the submission of tenders, to their selection and ranking, depending on the score obtained by each bidder. Within 10 days from the appointment of the admitted candidates will be designated the winner of the contest and the non-selected offers will be returned, with the specification of the reasons. " 6. In Article I, point 8, Article 8 shall read as follows: "" Art. 8. -The methodology for the selection of managers and the conclusion of the management contract will be elaborated by the State Property Fund, in consultation with the relevant ministries. " 7. in point 12 of Article I, Article 13 (1) shall read as follows: "The objectives and the performance criteria represent, in quantitative and value terms, the main results of the company, which the manager undertakes to obtain through the management, organization and management of its activity." 8. in point 13 of Article I, Article 13 (4) shall read as follows: "The State Property Fund may consult the relevant ministry on the performance criteria in order to adapt them to the strategy envisaged for that area." 9. In Article I, point 15, Article 14 (1) shall read as follows: " In order to achieve the performance criteria stipulated in the contract, the manager is invested by the board of directors with full powers in the organization, management and management of the business of the company, within the limits management " 10. In Article I (16), Article 14 (2) (a) shall read as follows: "" a) apply the strategies and policies for the development of the company, designed together with its board of directors; " 11. In Article I, paragraph 17, Article 14 (2) (c) shall read as follows: "c) the manager negotiates the collective agreement, in compliance with the revenue and expenditure budget, approved according to the law;" 12. In Article I, point 20, Article 14 (2) (g) shall read as follows: "" g) other skills established by the contract. '; 13. In Article I, point 21, Article 15 (2) shall read as follows: " From the share of the manager's participation in the profit of the company, 75% will be represented by shares distributed at the nominal value, against cash from this share of participation, among those issued by that agent on the market and managed by the State Property Fund. " 14. In Article I, point 30, Article 23 shall read as follows: "" Art. 23. -The list comprising the managers and administrators revoked shall be drawn up by the State Property Fund and shall be communicated monthly, for display at its local branches, at the premises of the local executive authorities and at the National Register Office Trade. " 15. In Article II, paragraph 1 shall read as follows: " (1) Within 15 days from the date of publication of the present emergency ordinance in the Official Gazette of Romania, the State Property Fund and the relevant ministries will proceed to the modification and proper completion of the methodology on selection of managers and conclusion of the management contract, which he will submit to the Government for approval. " This law was adopted by the Chamber of Deputies at the meeting of October 19, 1998, in compliance with the provisions of 74 74 para. (2) of the Romanian Constitution. p. CHAMBER OF DEPUTIES PRESIDENT, ANDREI CHILIMAN This law was adopted by the Senate at the meeting of October 19, 1998, in compliance with the provisions of art 74 74 para. (2) of the Romanian Constitution. p. SENATE PRESIDENT, ULM SPINEANU ------------