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Law No. 238 Of 15 July 2005 On The Amendment Of The Government Ordinance No. 39/1996 On The Establishment And Operation Of The Deposit Guarantee Fund In The Banking System

Original Language Title:  LEGE nr. 238 din 15 iulie 2005 pentru modificarea şi completarea Ordonanţei Guvernului nr. 39/1996 privind înfiinţarea şi funcţionarea Fondului de garantare a depozitelor în sistemul bancar

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LEGE no. 238 238 of 15 July 2005 to amend and supplement Government Ordinance no. 39/1996 establishing and functioning of the Deposit Guarantee Fund in the banking system
ISSUER PARLIAMENT
Published in OFFICIAL MONITOR no. 672 672 of 27 July 2005



The Romanian Parliament adopts this law + Article I Government Ordinance no. 39/1996 on the establishment and functioning of the Deposit Guarantee Fund in the banking system, republished in the Official Gazette of Romania, Part I, no. 141 of 25 February 2002, as amended and supplemented, shall be amended and supplemented as follows: 1. In Article 4, paragraph 3 shall read as follows: " (3) At the opening of accounts, micro-enterprises, small and medium-sized enterprises, defined as such according to the law, as well as the other categories of legal persons whose deposits do not appear in the List of unsecured deposits Law no. 178/2004 to amend and supplement Government Ordinance no. 39/1996 on the establishment and functioning of the Deposit Guarantee Fund in the banking system-will declare, on their own responsibility, the classification of deposits, according to the law, in the guaranteed or unsecured For individuals, the obligation of declaration exists only for those in special relations with the credit institution, provided for in item 1 of the List of unsecured deposits, for which the obligation to frame their deposits lies with the respective credit institution, which will make the classification according to the information in the database, on the knowledge of the clientele; similar will also do for the companies of the same group referred to in 1 1 from the list. " 2. In Article 15 (2), letter b) shall read as follows: "" b) term deposits, certificates of deposit and other financial instruments of credit institutions; " 3. in Article 15, paragraph 2 shall be inserted after paragraph 2 with the following contents: "" (2 ^ 1) When determining the financial instruments and their issuers, provided in par. (2), in view of minimising the risks, ensuring the efficiency and liquidity of those placements. The Fund's exposure strategy, both for each of the financial instruments and for each issuer, shall be determined annually by the Board of Directors of the Fund, with the approval of the Board of Directors of the National Bank of Romania. " 4. In Article 15, paragraph 3 shall read as follows: " (3) The profit of the Fund, obtained as a difference between the income referred to in 7 7 para. ((1) lit. e) and its expenses, is non-taxable and is assigned for the establishment of an annual profit participation fund, within the limit of a quota of up to 1% of the profit, with the approval of the Board of Directors of the Fund, and the difference will be used for the reintegration of the Fund's resources, for the payment of guaranteed deposits, as well as for the financing of its tangible and intangible investments, according to the revenue and expenditure budget approved by the National Bank of Romania. " + Article II Government Ordinance no. 39/1996 on the establishment and functioning of the Deposit Guarantee Fund in the banking system, republished in the Official Gazette of Romania, Part I, no. 141 of February 25, 2002, with subsequent amendments and completions, as well as with those brought by this law, will be republished in the Official Gazette of Romania, Part I, giving the texts a new numbering. This law was adopted by the Romanian Parliament, in compliance with the provisions of art. 75 75 and art. 76 76 para. (2) of the Romanian Constitution, republished. p. CHAMBER OF DEPUTIES PRESIDENT, DAN RADU RUSANU SENATE PRESIDENT NICOLAE VACAROIU Bucharest, July 15, 2005. No. 238. ----