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

Read the untranslated law here: https://www.global-regulation.com/law/romania/3071649/-lege-nr.-164-din-9-noiembrie-1999-privind-aprobarea-ordonanei-de-urgen-a-guvernului-nr.-54-1998-pentru-finalizarea-procesului-de-privatizare-cu-titlu.html

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Law No. 164 of 9 November 1999 approving the Emergency Ordinance of Government No. 54/1998 to complete the privatization process by way of ISSUING free PARLIAMENT Published in MONITORUL OFICIAL nr. 550 of 11 November 1999 the Parliament of Romania adopts this law.


The sole article approving Government Emergency Ordinance nr. 54 of 23 December 1998 for the completion of the privatization process free of charge, as published in the Official Gazette of Romania, part I, no. 503 of 28 December 1998, with the following amendments and supplements: 1. Paragraph 1 of article 1 shall read as follows: Art. 1. — (1) the process of regularization of capital shares held in companies by the State property Fund and each of the financial investment companies, will be completed no later than 30 September 1999. "
2. Article 2 shall read as follows: Art. 2. The State property Fund may take over, in the process of regularization of capital shares, shares financial investment companies they own the companies that are in restructuring/liquidation. "
3. In article 4, paragraph 1, letter a) shall read as follows: ") of the malfunctions of the privatization process free of charge;"
4. Article 4 shall be inserted in paragraph 3 with the following contents: "(3) as a result of clearing settlement operations, specified in paragraph 2. (1), or purchases of securities, financial investment companies may hold any participation in the capital of an issuer as defined by law. 52/1994 on securities and stock exchanges, provided that the value of its participation does not exceed 10% of the value of the asset on the company's financial investments, both calculated according to the regulations of the National Commission for securities. "
5. Paragraph 1 of article 6 shall read as follows: Art. 6.-(1) the Romanian Development Agency will be prepared and will be transmitted to the Institute of Management and computer science, within 25 working days from the date of entry into force of this emergency Ordinance, on its own initiative or on the basis of justified complaints, comprising citizens who filed complaints to the prefectures, County Romanian Development Agency. "
6. Article 7 shall read as follows: Art. 7. financial-investment companies will Institute of Management and computer science, within 20 working days from the date of entry into force of this emergency Ordinance, all amendments to the shareholders ' own records received from the Institute of Management and computer science, and will certify, in writing, the Romanian development agency on completion of this operation. "
7. Paragraph 2 of article 9 shall read as follows: "(2) the finding of violations and imposition of fines shall be made by the Romanian Agency for development, namely by the Finance Ministry in the event. 8 para. (2) of this emergency Ordinance. "
This law was adopted by the Senate at its meeting on 5 October 1999, in compliance with the provisions of art. 74 para. (2) of the Constitution of Romania.
p. NICHOLAS, PRESIDENT of the SENATE ULM SADR this law was adopted by the Chamber of deputies at its meeting on 5 October 1999, in compliance with the provisions of art. 74 para. (2) of the Constitution of Romania.
p. CHAMBER of DEPUTIES PRESIDENT, YONATAN-GA-