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Law No. 164 Of 9 November 1999 Approving Government Emergency Ordinance Nr. 54/1998 For The Completion Of The Privatisation Process For Free

Original Language Title:  LEGE nr. 164 din 9 noiembrie 1999 privind aprobarea Ordonanţei de urgenţă a Guvernului nr. 54/1998 pentru finalizarea procesului de privatizare cu titlu gratuit

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LEGE no. 164 164 of 9 November 1999 on approval Government Emergency Ordinance no. 54/1998 for the completion of the free privatisation process
ISSUER PARLIAMENT
Published in OFFICIAL MONITOR no. 550 550 of 11 November 1999



The Romanian Parliament adopts this law + Article UNIC Approval Government Emergency Ordinance no. 54 54 of 23 December 1998 for the completion of the privatization process free of charge, published in the Official Gazette of Romania, Part I, no. 503 of 28 December 1998, with the following amendments and additions: 1. Paragraph 1 of Article 1 shall read as follows: "" Art. 1. -(1) The process of regularization of share capital shares, held at companies by the State Property Fund and by each of the financial investment companies, shall be completed by September 30, 1999. " 2. Article 2 shall read as follows: "" Art. 2. -The State Property Fund may take over, in the framework of the process of regularisation of the share capital shares, the shares which the financial investment companies hold in the companies under restructuring/liquidation. " 3. In Article 4 (1), the letter a) shall read as follows: "a) malfunctions arising in the conduct of the privatization process free of charge;" 4. in Article 4, paragraph 3 is inserted as follows: " (3) As a result of the compensation-regularization operations, provided in par. ((1), or securities purchases, financial investment companies may hold any participation in the share capital of an issuer, as defined by Law no. 52/1994 52/1994 on securities and stock exchanges, provided that the value of the participation does not exceed 10% of the value of the financial investment company's asset, both calculated according to the regulations of the National Commission of Values Securities. " 5. Paragraph 1 of Article 6 shall read as follows: "" Art. 6. -(1) The Romanian Development Agency shall draw up and transmit to the Institute of Management and Informatics, within 25 working days from the date of entry into force of this emergency ordinance, on its own initiative or/and on the basis of referrals entitled, the lists of citizens who submitted referrals to the county prefectures, respectively to the Romanian Development Agency. " 6. Article 7 shall read as follows: "" Art. 7. -Financial investment companies will transmit to the Institute of Management and Informatics, within 20 working days from the date of entry into force of this emergency ordinance, all changes made in the shareholders ' registers own, received from the Institute of Management and Informatics, and will certify, in writing, to the Romanian Development Agency the completion of this operation. " 7. Paragraph 2 of Article 9 shall read as follows: " (2) The finding of contraventions and the application of fines are made by the Romanian Development Agency, respectively by the Ministry of Finance, in case of non-compliance with the provisions of art. 8 8 para. ((2) of this Emergency Ordinance. " This law was adopted by the Senate at the meeting of October 5, 1999, in compliance with the provisions of art 74 74 para. (2) of the Romanian Constitution. p. SENATE PRESIDENT, ULM NICOLAE SPINEANU This law was adopted by the Chamber of Deputies at its meeting on October 5, 1999, in compliance with the provisions of 74 74 para. (2) of the Romanian Constitution. p. ROOM PRESIDENT DEPUTIES, ACSINTE GASPAR -----