Law No. 96 Of 2 June 2000 On The Organisation And Operation Of The Export-Import Bank Of Romania, Eximbank-Specific Tools And Supportive Of External Trade

Original Language Title:  LEGE nr. 96 din 2 iunie 2000 privind organizarea şi funcţionarea Băncii de Export-Import a României EXIMBANK - S.A. şi instrumentele specifice de susţinere a comerţului exterior

Read the untranslated law here: https://www.global-regulation.com/law/romania/3071800/-lege-nr.-96-din-2-iunie-2000-privind-organizarea-i-funcionarea-bncii-de-export-import-a-romniei-eximbank---s.a.-i-instrumentele-specifice-de-susinere.html

Subscribe to a Global-Regulation Premium Membership Today!

Key Benefits:

Subscribe Now for only USD$20 per month, or Get a Day Pass for only USD$4.99.
Law No. 96 of 2 June 2000 (* republished *) (* updated *) on the Organization and operation of the Export-Import Bank of Romania, EXIMBANK-URS.A.*) (updated until 28 February 2014 *)-PARLIAMENT ISSUING — — — — — — — —-*) form of this updated regulatory action until February 28, 2014 is carried out by the legal department within the S.C. "territorial Center of Electronic Computing" Piatra Neamt by including all changes and additions made to the : EMERGENCY ORDINANCE nr. 8 of 26 February 2014.
The contents of this act is not an official document, being intended for the information of users *) Republished pursuant to art. IV of the Government Emergency Ordinance nr. 146/2005 for the modification and completion of the law #. 96/2000 on the organisation and operation of the Export-Import Bank of Romania, EXIMBANK-specific tools and supportive of external trade, published in the Official Gazette of Romania, part I, no. of 11 November 2005 1,003, as amended by law No. 165/2006, published in the Official Gazette of Romania, part I, no. 430 of 18 May 2006, posing a new texts.
Law No. 96/2000 has been republished in the Official Gazette of Romania, part I, no. 128 of 10 February 2005 and amended by Emergency Ordinance of Government No. 5/2005, published in the Official Gazette of Romania, part I, no. 133 of 14 February 2005, which was approved by law No. 186/2005, published in the Official Gazette of Romania, part I, no. 532 dated 23 June 2005.


Chapter I General provisions Article 1 (1) of the Export-Import Bank of Romania, EXIMBANK-S.A., hereinafter EXIMBANK S.A., is a specialized institution, which carries on activities in support of the Romanian business environment and international transactions through financial instruments and insurance.
  

(2) BANK-S.A. operates in the name and on behalf of the State, as well as in name and in his own, realizing for legal persons legally resident or non-resident, financing, cofinanţări, financings, guarantees and other banking operations, insurance and reinsurance of the foreign trade operations.
  

(3) conducting and EXIMBANK-specific activities S.A. financing, financing, refinancing, insurance, reinsurance, guarantee, designed to ensure the development of infrastructure and public utilities development, regional development, supporting the activity of research and development, environmental protection, employment and training, supporting and developing small and medium enterprises, as well as the support of international transactions, in line with government policy.
  


Article 2 this law shall establish the following general objectives of the activities of Jsc EXIMBANK financing): production of goods and services for export, and foreign trade operations, through the granting of loans in lei and in foreign currency, from internal or external sources;
  

b), Ron and foreign currency, export production for exports and imports of goods and services and/or investment objectives for the production of goods and services for export;
  

c) refinancing operations of banks for financing granted by these Romanian exporters;
  

d) Administration and the conduct of foreign loans for the production of goods and services for export and export operations, as well as approved by the Interministerial Committee for guarantees and Credits of foreign trade, in order to support investment, stimulate small and medium enterprises, restructuring and modernising the infrastructure development companies and other public utilities;
  

e) Administration and carrying out of specific funding activities, financing, refinancing, insurance, reinsurance, guarantee, in the name and on behalf of the State, approved by the Interministerial Committee for guarantees and Credits of foreign trade, to ensure the development of infrastructure and public utilities development, regional development, supporting the activity of research and development, environmental protection, employment and training, supporting and developing small and medium enterprises, as well as the support of international transactions;
  

f) administering and carrying out specific activities for funding, financing, refinancing, guarantee, in the name and on its own account, intended to ensure the development of infrastructure and public utilities development, regional development, supporting the activity of research and development, environmental protection, employment and training, supporting and developing small and medium enterprises, as well as the support of international transactions;
  

g) performing other banking operations, for implementation of the specific object of activity, in accordance with the legal provisions in force;
  

h) insurance and export credit reinsurance of short-term commercial risks and the country, which cannot be secured on the private market, consisting of at least two insurance companies, foreign legal persons and a Romanian legal entity company;
  

I) insurance and export credit reinsurance on the medium and long term risks of trade and country;
  

j) guarantee and/or insurance and reinsurance Romanian investments abroad;
  

k) loans to insurance and reinsurance of the goods and services for export;
  

l) performing other operations specific to the activity of insurance and reinsurance, guarantees and investments to support export activities, in accordance with the legal provisions in force;
  

m) conclusion of agreements and conventions required for its work with similar organizations in the country and abroad;
  

n) evaluation, as financial advisor and banking risks commercial and country;
  

o) technical assistance for operations studied banking and implementing of projects approved by the Interministerial Committee for guarantees and Credits of foreign trade;
  

p) collecting, processing, storing and providing information specific to credit;
  

q) performing other operations stipulated by law, in order to support the production of goods and services for export and foreign trade.
  


Chapter II Organization and work of EXIMBANK-S.A.


Article 3 (1) of EXIMBANK-S.A. is a joint stock company in which the State holds at least 51% of the share capital.
  

(2) BANK-S.A. carries out its activity in accordance with the present law, with the provisions of the legislation, the legislation relating to companies in the field of insurance and reinsurance, as well as with the Statute itself.
  

(3) BANK-S.A. operates at central level and at territorial level and abroad through branches and other offices and agencies-other side too.
  

4. EXIMBANK-S.A. carries out the recovery, through execution, of amounts paid out of funds allocated from the State budget as a result of non-execution or infringement by the operators, beneficiaries of any forms of support offered by the Romanian State through the Inter-Ministerial Committee for guarantees and Credits of foreign trade, contractual conditions through their own body of tax executives, who will carry out enforcement activities according to the provisions of Ordinance No. 92/2003 regarding the fiscal procedure code, republished, with subsequent amendments and additions.
  


Article 4 EXIMBANK-S.A. is led by a Board of directors appointed by the general meeting of shareholders, consisting of 7 members: Chairman of the Board, who is also President of the Bank's Executive Vice Presidents, who are 2 and Executive Vice Presidents of the Bank, and 4 members.


Article 5 (1) the Board of Directors of Jsc EXIMBANK-has the following main tasks: (a) approve the organisational structure of), number of posts, personnel, as well as the rules of organization and functioning;
  

b) approve the Organization and functioning of the audit committees, credit risk, management of assets and liabilities, of the body's own tax executives, as well as other bodies of work, in view of its specific activities;
  

c), advises and presents for approval by the general meeting of shareholders the annual project budget of revenue and expenditure account and balance sheet;
  

(d) approve the internal rules) of EXIMBANK S.A. of business;
  

e to approve the level of interest rates), commissions and other freight rates charged by the Bank.
  

f) establishes the powers and signatures of the regime under the EXIMBANK S.A.;
  

g) decide the establishment of branches and other offices and agencies like side-in the country and abroad;
  

h) appoints the directors and Deputy Directors from Headquarters and from Central secondary school in the country and abroad, in compliance with the regulations in force, establishing the tasks, skills and responsibilities thereof;
  

I) meets other duties in order to achieve the objectives of the EXIMBANK-S.A.
  

(2) the Board of Directors may delegate part of its powers to the Steering Committee.
  


Article 6 (1) appointment of members of the Board of Directors of Jsc EXIMBANK-is done over a period of 4 years, with the possibility of renewal of its mandate.
  


(2) in the case of descompletării Board of Directors, filling vacant posts are made on this post only until the expiry of those replaced, in compliance with the provisions of this law.
  

(3) Revocation of members of the Board of Directors of Jsc EXIMBANK-including the President and Vice-Presidents of the Executive Board of the Bank, while in Office, is made in the General conditions laid down by law No. 31/1990 on the companies, republished, with subsequent amendments and additions.
  

(4) the Board of Directors shall be governed by the legal provisions relating to companies, for banking legislation and the provisions of this law.
  

(5) the members of the Board of Directors of EXIMBANK S.A. cannot represent, directly or indirectly, any financial interest or any other means which would conflict with obligations and duties towards the BANK-S.A.
  


Article 7-financial statements of EXIMBANK S.A., drawn up on an individual basis and, where appropriate, on a consolidated basis, are audited by the statutory auditors, legal entities authorized by the Chamber of financial auditors of Romania and Banca Naţională a României.


Article 8 each year, not later than the 31st of may, EXIMBANK S.A. presents the Government activity report for the previous year.


Chapter III the Inter-Ministerial Committee for guarantees and Credits of foreign trade activity and EXIMBANK on behalf of the Corporation and on behalf of the State in article 9 (1) of EXIMBANK-limit carries S.A. powers approved by the Interministerial Committee for guarantees and Credits of foreign trade, following operations on behalf of or with the guarantee of the State: a) issue guarantees for export;
  

b) performs specific funding, financing, refinancing, insurance, reinsurance, guarantee to support the objectives of national interest and international transactions;
  

c reinsurance and insurance) achieved export credits for goods and services against political and commercial risks, Romanian investments abroad, providing export guarantees and export operations in leasing;
  

d) performs complex stimulation of exports, under the conditions laid down in article 21. 13;
  

e) guarantees loans for goods and services for export credits and investments, Romanian buyer abroad;
  

f) perform other operations to stimulate Romanian exports, established by the normative acts in force, in accordance with the objectives of the foreign trade policy of the Government;
  

g) carried out other operations stipulated by law.
  

(2) guarantee operations, insurance and reinsurance, conducted in the name and on behalf of the State, shall, as a general rule, a maximum of 85% of the value of export contracts. Depending on the objectives of the foreign trade policy, the Government's decision, this percentage may be increased.
  

(3) the rules governing activities in the name and on behalf of the State shall be approved by the Interministerial Committee for guarantees and Credits for foreign trade and shall be published in the Official Gazette of Romania, part I, in accordance with the law.
  


Article 10 in order to ensure financial resources for operations in the name of and on behalf of the State, EXIMBANK-S.A. benefit from the setting-up at his disposal of the following funds: a) the export guarantees Fund, to guarantee loans for goods and services for export buyer credits, and investments abroad, as well as Romanian and activities for the development of infrastructure and public utilities , regional development, supporting the work of research and development, environmental protection, employment and training, support and development of small and medium enterprises and international transactions;
  

(b) Insurance Fund) and re-export credits, export credit guarantees, export operations in leasing and investment abroad, as well as Romanian and of infrastructure development, public utilities, regional development, support of research and development, environmental protection, employment and training, support and development of small and medium enterprises and international transactions;
  

c) Fund intended for stimulating foreign trade operations, as well as for the financing, co-financing and refinancing activities for infrastructure development, public utilities, regional development, support of research and development, environmental protection, employment and training, support and development of small and medium enterprises and international transactions;
  

d) Fund for insurance and reinsurance credits obtained in pursuit of goods and services intended for export;
  

e) other funds which will be established by decision of the Government with the means of regulating their use.
  


Article 11 finances (1) the funds referred to in article 1. 10 am: a) appropriations prior to the date of entry into force of this law, in order to support exports, and available at this time;
  

b) amounts in the annual State budget with this destination;
  

c) amounts collected up to a maximum quota of 25% of the State's foreign claims actually recovered from the debtor countries;
  

d) net amounts coming from insurance premiums;
  

e) sums recovered from credit insurance;
  

f) amounts recovered from the legal person guaranteed;
  

g) interest received from taking advantage of the amounts available to the funds;
  

h) other sources, according to the law.
  

(2) the power supply of the funds referred to in article 1. 10 will be scaled and the annual budget allocated by the State, in compliance with the Romanian Government's policy of granting state aid allowed, where necessary, so as to ensure the development of foreign trade, infrastructure development, public utilities development, regional development, supporting the activity of research and development, environmental protection, employment and training, supporting and developing small and medium enterprises and international transactions.
  

(3) the amounts set out in the annual budget for the establishment of the funds referred to in article 1. 10 will be paid monthly by the Ministry of public finances) and the EXIMBANK-will be distributed by the Interdepartmental Committee on security and foreign trade Credits, as required to support the foreign trade activity, infrastructure development, development of public utilities, regional development, support of research and development, environmental protection, employment and training of personnel , support and protection of small and medium-sized enterprises, as well as the support of international transactions.
  

(4) the funds referred to in article 1. 10 can be employed to the maximum exposure set by the Interministerial Committee for guarantees and Credits of foreign trade.
  

_ _ _ _ _ _ _ _ _ _ _ _ _ *); 15 (a). a) of Government Emergency Ordinance nr. 24/2007 on the establishment of reorganisation measures in the context of the central public administration, published in the Official Gazette of Romania, part I, no. 247 of 12 April 2007, the current normative acts as "Ministry of public finance" is replaced with "the Ministry of economy and finance".


Article 12 (1) the funds referred to in article 1. 10 will be used to pay the EXIMBANK S.A.-commitments entered into by it in the name of and on behalf of the State, under rules approved by the Interministerial Committee for guarantees and Credits of foreign trade: a) the export guarantees Fund referred to in article. 10 lit. for the payment of): 1. participation in invitations to tender securities;
2. guarantees of repayment of the advance and other progressive payments received from external recipients on behalf of export contracts;
3. guarantees for the proper execution of contracts;
4. guarantees for the refund value of the equipment and materials made available by the external contract;
5. guarantees on loans for the completion of the production of goods and services for export buyer's credit, and guarantees for Romanian investments abroad;
6. other specific safeguards laid down in the export contracts, according to the legal provisions in force;

(b) ensuring and funds) provides export credit referred to in art. 10 lit. b) and d) for the payment of damages relating to commitments, State risk of EXIMBANK S.A., as well as to cover the costs of recovery, according to insurance contracts and procedures approved by the Interministerial Committee for guarantees and Credits of foreign trade.
  

Commitments, State risk of EXIMBANK S.A. refers to: 1. insurance and reinsurance of export credits against short-term commercial risks and uninsurable private market country, pursuant to article. 2(a) h);
2. insurance and reinsurance of export credits on the medium and long term risks of trade and country;
3. export guarantee insurance and insurance of Romanian investments abroad;

4. other insurance operations, coinsurance and reinsurance of risks of loans defaulting, uninsurable private market. Guarantees and export insurances are issued by EXIMBANK S.A., on the basis of approval by the Inter-Ministerial Committee for guarantees and Credits of foreign trade.

(2) the administration of the funds referred to in article 1. 10 to make sums available EXIMBANK-S.A. from the funds referred to in article 1. 10 are made available to EXIMBANK-as Jsc attracted support required for banking activity. Rights and obligations of EXIMBANK-the use of these sums S.A. will be established through the Convention concluded with the Ministry of public finance. The interest for the use of amounts available will pay by the EXIMBANK-monthly, on the first joint-stock company working day of the month for the previous month, the account of each Fund. The interest shall be determined as an average between the reference rates BID and ASK (fixing) of Government securities at 1 year, published by the National Bank of Romania in the last working day of the previous year of implementation, and the amounts will constitute resources to power the fruition of each Fund. The amounts available to the end to these funds over the next year and must be used with the same destination.
  

— — — — — — — — — — —-. (2) of article 9. 12 was amended by section 1 of article. XII of EMERGENCY ORDINANCE No. 8 of 26 February 2014, published in MONITORUL OFICIAL nr. 151 dated 28 February 2014.
(2 ^ 1) The amounts available from the funds referred to in article 1. 10 remain at the disposal of the EXIMBANK-S.A., except those amounts is determined by Convention on maintenance periods of at least 5 years. Ministry of public finance and EXIMBANK-S.A. will agree by mutual agreement, with at least two years before it expires, the terms and conditions relating to the extension of this period.
— — — — — — — — — — —-. (2 ^ 1), art. 12 was introduced by section 2 of art. XII of EMERGENCY ORDINANCE No. 8 of 26 February 2014, published in MONITORUL OFICIAL nr. 151 dated 28 February 2014.

(3) to administer the funds referred to in article 1. EXIMBANK-10 fees that S.A. will be approved by the Interministerial Committee on internal procedures of guarantees and Loans for foreign trade and which will be settled at the expense of those funds.
  

(4) any reduction in the more than 20% of the funds referred to in article 1. 10 lit. a), b) and (d)), as a result of the execution of the commitments entered into by the BANK on behalf of the Corporation, the State, in accordance with this law shall regulate the quarterly budget to actual implementation of the Interministerial Committee for adjustments of securities and Loans for foreign trade may decide, in the opinion of the Ministry of public finance, a temporary deficit Fund reunification used on behalf of the other funds available above.
  


Article 13 (1) complex Through exports. 9 para. (1) (a). (d)), means the export of equipment, installations or parts of installations, along with separate times technologies, licenses, know-how, technical assistance, design, construction and Assembly, commissioning and reception, as well as spare parts and related materials. They also are considered complex geological works exports design-exploration works for mineral exploitation, construction of electric networks, carry out drillings boreholes, construction scaffolding, plant and pipelines, storage and distribution of petroleum products and natural gas, as well as the achievement of complete vessels targets in the areas of transportation, agriculture, land improvements, environmental improvement forestry, hydro, forestry, mining, organizing power plants and thermal power plants, water treatment plants, wastewater treatment plants, flexible technologies and automated processing, housing assemblies and socio-cultural objectives, water-sewage networks, building roads and bridges, port facilities and military technique and the like. Where appropriate, upon proposal of the Interministerial Committee for guarantees and Credits of foreign trade, the Government's decision, it may approve the inclusion in the category of complex exports and some projects are analysed and approval, and other fields.
  

(2) stimulate the development of complex and production goals with long manufacturing cycle, intended for export, shall, in addition to export-credit insurance, under the terms stipulated by this law, by: a) guarantees for participation in international tenders, execution and guarantees laid down in the contracts;
  

b) granting of State guarantees for loans used for production in the country and abroad, aimed at exports, as well as for export credits in the short term, medium and long term, in accordance with the relevant international standards.
  

(3) exports is complex contracts by a foreign contractor general, Romanian or foreign economic operator who can collaborate on the basis of commercial agreements, subcontractor-Romanian or foreign economic operators. Exports of products with long manufacturing cycle can be carried out on the basis of external contracts concluded by a general contractor or the manufacturer directly or through agent.
  

(4) the Subcontractor, domestic realization of complex exports are: the general designer, general contractor, manufacturers, and service providers engaged in their realization.
  

(5) the period of manufacture of products with long manufacturing cycle and the value of export contracts relating thereto, shall be determined on an annual basis and whenever necessary, by decision of the Government.
  


Article 14 (1) the Inter-Ministerial Committee for guarantees and Credits for foreign trade shall be composed of representatives of specialized bodies of central public administration and the EXIMBANK-S.A.
  

(2) conduct of the work of the Inter-Ministerial Committee for guarantees and Credits of foreign trade is regulated by decision of the Government. The President, Vice-Presidents and members of the Committee shall be appointed by decision of the Government.
  

(3) the Interministerial Committee for guarantees and Credits of foreign trade shall have the following duties: a) the maximum exposure to approve the funds referred to in article 1. 10;
  

b) examines and approves: (i) the issuance of export credit guarantees, guarantees for loans for the production of goods and services for export, and buyer credit guarantees for Romanian investment abroad;
() insurance and export credit reinsurance, Romanian investments abroad, export guarantees and export operations in leasing, in the name and on behalf of the State;
(iii) tools to support the foreign trade activity, in accordance with the provisions of this Act and with government policy to promote and support exports.
(iv) financing, co-financing, refinancing, guarantee, insurance and reinsurance activities for infrastructure development, development of public utilities, regional development, support of research and development, environmental protection, employment and training, supporting and developing small and medium enterprises, as well as the support of international transactions;

c) at the beginning of each year, the list of goods for export which are not eligible for supportive tools of foreign trade conducted by EXIMBANK S.A. is established by Decree of the Government and published in the Official Gazette of Romania, part I, in accordance with the law.
  

(4) the powers referred to in paragraph 1. (3) (a). b) can be delegated, by the decision of the Interministerial Committee for guarantees and Credits of foreign trade, the Board of Directors of Jsc EXIMBANK-which will exercise or, where appropriate, delegate those powers in accordance with the provisions of the Statute of the BANK-S.A.
  

(5) the Interministerial Committee for guarantees and Credits of foreign trade lays down the use of value within the ceilings which will approve and carry out transactions in the name and on behalf of the State, on the basis of country risk rankings compiled by the EXIMBANK-S.A.
  

(6) the BANK will cooperate with Jsc-public authorities, public institutions or in the public interest on the basis of conventions, within the limits of powers delegated to them by law, under conditions of reciprocity, for providing the information necessary for the calculation of both the rankings and risk in order to achieve its object.
  

(7) the Interministerial Committee for guarantees and Credits of foreign trade meets, as a rule, twice a month, or whenever it is needed.
  


Article 15 review and EXIMBANK-S.A. advises, for presentation to the Interdepartmental Committee on security and foreign trade Loans, guarantees for imports of technology, machinery and equipment intended for the development, upgrading, modernisation, as well as the creation of new production capacity of goods and services for export. The State guarantee is issued by the Ministry of public finances and the highlights to the public debt.


Article 16 (1) of EXIMBANK-reinsure S.A. can provide against commercial risks and the country: the export credits) in the short term, the private market, uninsurable and export credits on the medium and long term;
  

b Romanian investments abroad);
  

c) credits obtained in pursuit of goods and services for export, export guarantees and export operations in leasing.
  


(2) the Insurance mentioned in paragraph 1. (1) shall be carried out according to the legal provisions in force.
  

(3) export credit insurance in the short term, medium and long term, ensuring investments abroad of Romanian and export guarantees will be made within the ceilings established by countries, the value of EXIMBANK S.A. and approved-inter-ministerial Committee for guarantees and Credits of foreign trade, according to the Government's policy for the promotion and support of export and investments in different markets.
  


Article 17 can achieve EXIMBANK-S.A. and other operations on behalf of the State, according to the objectives laid down in article 21. 2, and can deploy any tools for stimulating foreign trade activity, determined by the Inter-Ministerial Committee for guarantees and Credits for foreign trade and approved by decision of the Government, in accordance with its statutory powers and the Government's supportive policy of foreign trade.


Chapter IV-the work of EXIMBANK S.A. and in my own name in article 18 (1) BANK-Bank Jsc performs in order to stimulate foreign trade activity and the development and promotion of the Romanian business environment, in accordance with the rules of banking legislation in force and with the provisions of this law.
  

(2) BANK-S.A. performs funding, financing and refinancing of foreign trade operations, in order to facilitate the access of Romanian exports on international markets.
  

(3) the EXIMBANK-S.A. performs financing, financing, refinancing, guarantee, designed to ensure the development of infrastructure and public utilities development, regional development, supporting the activity of research and development, environmental protection, employment and training, supporting and developing small and medium enterprises, as well as the support of international transactions.
  

4. EXIMBANK-S.A. may conclude agreements with financial institutions in the country and abroad, in order to provide funds to be used as sources to support the activities attracted name and on its own account.
  

(5) the Corporation may issue BANK debentures on the domestic and foreign market, according to the law, in order to attract sources, needed to carry out its work.
  


Chapter V, Article 19, Accounting operations accounting for EXIMBANK-S.A. is distinct on operations carried out in the name and on behalf of the State and on the operations carried out in the name and in her own law.
------------
Art. 19 was amended by section 3 of article 9. XII of EMERGENCY ORDINANCE No. 8 of 26 February 2014, published in MONITORUL OFICIAL nr. 151 dated 28 February 2014.


Article 20 EXIMBANK-the annual financial statements drawn up S.A. (individual) and consolidated in accordance with accounting regulations applicable.
------------
Art. 20 was amended by paragraph 4 of art. XII of EMERGENCY ORDINANCE No. 8 of 26 February 2014, published in MONITORUL OFICIAL nr. 151 dated 28 February 2014.


Chapter VI final provisions Article 21 (1) members and representatives in the general meeting of shareholders, Board members and Auditors, as well as employees of JSC EXIMBANK-are bound to professional secrecy of any facts, data, and information of which they become aware in the course of exercising their duties and which are not intended for advertising.
  

(2) use in their own interest to the information and data obtained as a result of work done in Jsc EXIMBANK-shall be punished according to the law.
  


Article 22 (1) the financial instruments provided for in this legislation will be awarded in compliance with the legal provisions in force and the Community acquis.
  

(2) the support measures liable to constitute State aid, as provided for by the present law, shall be notified to the competition Council by the originator or supplier, as appropriate, in accordance with the regulations in force in the field of State aid, and the aid will be granted only after its actual authorization.
  


Article 23 (1) on the date of entry into force of this law shall be repealed Government decision nr. 189/1991 approving the establishment of Export-Import Bank of Romania-joint-stock company (Romanian Eximbank), published in the Official Gazette of Romania, part I, no. 71 of 3 April 1991, as well as any other provisions to the contrary.
  

(2) the current Status of the EXIMBANK S.A. shall remain in force pending the approval by the general meeting of shareholders of the new bylaws, but no later than 30 days after the date of entry into force of this law.
  

Note: the article below is below. II and III of the Government Emergency Ordinance nr. 146/2005, which are not incorporated in the text of the consolidated law No. 96/2000 and which still apply as provisions of Government Emergency Ordinance nr. 146/2005: "Art. II.-the amounts from the Fund for granting interest-rate bonificaţiilor allocated under the State budget law for 2006 nr. 379/2005, published in the Official Gazette of Romania, part I, no. 1,151 of 19 December 2005, will be used for the destinations referred to in article 21. 10 lit. a), b) and (c)) of law No. 96/2000, republished, as amended by this emergency Ordinance.
Art. III. The Interministerial Committee of guarantees and Loans for foreign trade and the Board of Directors of Jsc EXIMBANK will approve-or, where appropriate, will ensure the development and propose for approval to the competent institutions the changes and additions to the rules given in the application of law No. 96/2000, republished, with subsequent amendments, under this emergency Ordinance. "

-----