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Law No. 266 Of 29 June 2006 Approving Ordinance No. 28/2006 On The Regulation Of The Financial-Fiscal Measures

Original Language Title:  LEGE nr. 266 din 29 iunie 2006 pentru aprobarea Ordonanţei Guvernului nr. 28/2006 privind reglementarea unor măsuri financiar-fiscale

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LEGE no. 266 266 of 29 June 2006 for approval Government Ordinance no. 28/2006 on the regulation of financial and fiscal measures
ISSUER PARLIAMENT
Published in OFFICIAL MONITOR no. 580 580 of 5 July 2006



The Romanian Parliament adopts this law + Article UNIC Approval Government Ordinance no. 28 28 of 26 January 2006 on the regulation of financial and fiscal measures, adopted pursuant to art. 1 1 section II.1 of Law no. 404/2005 on the empowerment of the Government to issue ordinances, published in the Official Gazette of Romania, Part I, no. 89 of 31 January 2006, with the following amendments and additions: 1. In Article 4, letters a) and h) shall read as follows: " a) non-bank financial institution-a legal person established for the purpose of carrying out, on a professional basis, lending activities of the nature of those provided in art. 7 7 para. ((1) and whose sources of financing come from own resources or borrowed from credit institutions, from other financial institutions or, as the case may be, from other sources provided by the legal regulations in force; non-banking financial non-patrimonial legal entities-entities established on the basis of Government Ordinance no. 26/2000 on associations and foundations, approved with amendments and additions by Law no. 246/2005 , or under special laws granting credits from public funds or made available on the basis of intergovernmental agreements, which are refundable/non-refundable; ........................................................................... h) Register of records-register opened and held by the National Bank of Romania, in which the mutual aid houses, pawnshops and legal entities without patrimonial purpose assimilated to non-banking financial institutions are registered. " 2. Article 6 shall read as follows: "" Art. 6. -(1) The name of an entity that may carry out credit activity, under the terms of this title, shall include the phrase "non-bank financial institution" or its abbreviation "IFN". In the case of non-bank financial institutions that are subject to registration in the Register of Records, the completion of the name is optional. The phrase "non-bank financial institution" will be used in the name, letterhead, official documents, contracts or in other such documents, advertisements or in advertising only by non-banking financial institutions. (2) Non-bank financial institutions are not allowed to use in the name, letterhead or in other identification attributes any words and expressions that would mislead the public about the status or the activities and operations of the institutions non-bank financial. " 3. In Article 7 (1), after letter e) a new letter is inserted, letter e ^ 1), with the following contents: "e ^ 1) granting loans by legal entities without patrimonial purpose from public funds or made available on the basis of intergovernmental agreements, with a refundable/non-refundable character". 4. In Article 7, paragraph 3 shall read as follows: " (3) Non-bank financial institutions may provide related services and consultancy related to the realization of the activities provided in par. ((1). ' 5. Article 8 shall read as follows: "" Art. 8. -Non-bank financial institutions may carry out, in application of art. 7 7, ancillary activities necessary for the activity. " 6. In Article 9, points c) and d) shall read as follows: " c) the inclusion in the main object of activity of an activity not provided for in art. 7 7 para. ((1); d) inclusion in the secondary object of activity of any activity other than, as the case may be, those provided in art. 7 7 and 8 and by applicable special laws. " 7. Article 10 shall read as follows: "" Art. 10. -Entities that do not comply with the provisions of this Title cannot use in the name, letterhead or in acts issued the phrase "non-bank financial institution". " 8. In Article 11, letter b) shall read as follows: " b) persons against whom final judgments have been rendered for corruption offences, money laundering, deception, offences against heritage, abuse of office, taking or giving bribes, forgery and use of forgery, embezzlement, tax evasion, receiving undue benefits, influence peddling, false testimony. " 9. In Article 12, the introductory part and letter a) shall read as follows: "" Art. 12. -Non-bank financial institutions are not allowed to perform the following activities: a) operations with movable and immovable property, except those covered by the provisions of art. 8 8; '. 10. In Article 13, paragraph 2 shall read as follows: "(2) At its establishment, non-banking financial institutions must meet the general requirements set out in this section, according to the regulations issued by the National Bank of Romania." 11. In Article 14, paragraphs 2 and 4 shall read as follows: " (2) The social capital of non-banking financial institutions must be paid in full, in a monetary form, at the time of subscription. .......................................................................... (4) Non-bank financial institutions may increase the share capital, through money contributions, issuance or contribution premiums and other capital-related premiums, fully collected, remaining after the coverage of the expenses not amortized with such operations, and reserves constituted on account of such premiums, as well as the incorporation of reserves made up of net profit, dividends from net profit due to shareholders after payment of dividend tax and retained earnings, representing net profit. " 12. Article 16 shall read as follows: "" Art. 16. -(1) The leaders of non-banking financial institutions must meet, cumulatively, at least the following conditions: a) have the right honorability; b) have not caused by their activity the bankruptcy of an economic agent; c) have higher education; d) to have experience in a field considered relevant by the National Bank of Romania. ((2) The term for meeting the requirement laid down in lett. c) a par. (1), in the case of the leaders in office on the date of entry into force of this ordinance, shall be 31 December 2009. " 13. In Article 18, paragraph 1 shall read as follows: "" Art. 18. -(1) Non-bank financial institutions shall organize and conduct the accounting in accordance with the provisions Accounting Law no. 82/1991 , republished, and with the specific regulations developed by the National Bank of Romania, with the opinion of the Ministry of Public Finance 14. In Article 23 (2), the introductory part and the letter g) shall read as follows: " (2) The application for registration in the General Register shall be accompanied by the documentation containing: ........................................................................... g) the list of internal rules, accompanied by the declaration on their approval by the statutory bodies. " 15. In Article 25, paragraph 1 shall read as follows: "" Art. 25. -(1) Following the notification made by non-banking financial institutions to the National Bank of Romania, in accordance with the provisions of art. 22 22 para. (1), they will be taken into account and will be entered in the General Register held at the National Bank of Romania only if they prove compliance with the requirements set out in section 1. " 16. in Article 25, after paragraph 2, a new paragraph (3) is inserted, with the following contents: "(3) Failure to comply with the requirements set out in Section 1 shall entail non-inclusion in the General Register of the entities concerned and, implicitly, failure to grant the permission to carry out credit activity." 17. In Article 28, paragraph 2 shall read as follows: " (2) The quality of the significant shareholders and the structure of the groups to which they belong must correspond to the need to ensure prudent and sound management of non-banking financial institutions and to allow an oversight Effective. In this respect: a) the significant shareholders must be able to justify in a satisfactory manner the origin of the funds intended to obtain the participation in the share capital of non-banking b) the significant shareholders must provide, according to the regulations of the National Bank of Romania, sufficient information to ensure the necessary transparency to identify the structure of the group to which they belong. " 18. In Article 28 (4), the letter d) shall read as follows: "d) the leaders must effectively ensure the day-to-day management of the activity only within the non-banking financial institution in which they are appointed and at least one of them must know the Romanian language;". 19. Article 28 (4), point e) shall be repealed. 20. In Article 29, paragraph 1 shall read as follows: "" Art. 29. -(1) Non-bank financial institutions shall develop internal rules for the application of special requirements and shall transmit them to the National Bank of Romania within 5 days from the date of receipt of the document certifying the registration in the Special Register. " 21. Article 32 shall read as follows: "" Art. 32. -(1) Non-bank financial institutions registered in the Special Register shall comply with the obligations set out in section 4 and the regulations given in its application, during which they are entered in the Special Register. The National Bank of Romania will radiate from the Special Register non-bank financial institutions that, for a period to be established by regulations, no longer fall under the criteria underlying registration in the Special Register. (2) The National Bank of Romania will continue to be able to exercise its supervisory powers over non-banking financial institutions that no longer meet the criteria provided in art. 27 27 para. (2), but are entered in the Special Register. " 22. Article 33 shall read as follows: "" Art. 33. --(1) Following the notification made by mutual aid houses, pawnshops and legal entities without patrimonial purpose at the National Bank of Romania, they will be highlighted and entered in the Register of Records held at the National Bank of Romania. (2) The National Bank of Romania shall issue and transmit to each other's aid houses, pawnshops and legal entities without patrimonial purpose the document certifying the registration in the Register of Records, within 30 days of notification. " 23. In Article 37, paragraph 1 shall read as follows: "" Art. 37. -(1) The National Bank of Romania may issue regulations on the regime of non-banking financial institutions, regarding the status of legal person declared at the Central Bank Risk Bank of the National Bank of Romania. " 24. In Article 42, paragraph 2 shall read as follows: " (2) The documents referred to in par. ((1) lit. a) and f), as well as the intervening changes will be made available to the National Bank of Romania, according to the regulations issued by it. " 25. In Article 45, paragraph 1 shall read as follows: "" Art. 45. -(1) Contracts concluded for the purpose of carrying out the lending activities provided in art. 7 7 para. ((1), as well as the actual and personal guarantees constituted for the purpose of guaranteeing the credits covered by the said contracts, constitute enforceable securities. " 26. Article 46 shall read as follows: "" Art. 46. -Non-bank financial institutions must keep accounting permanently, in accordance with the provisions Law no. 82/1991 , republished, and of the specific regulations given in its application, and to draw up financial statements that provide a true picture of the financial position, financial performance, cash flows and other information on the work carried out. " 27. In Article 52 (2), the letter d) shall read as follows: " d) temporary suspension of the conduct of one or more activities; '. 28. Article 55 shall read as follows: "" Art. 55. -The appeals of the acts issued by the National Bank of Romania for the application of this title are those provided for in Head. XV "Cai de contestare" din Law no. 58/1998 on banking, republished, as amended. " 29. The title of Chapter VIII shall read as follows: "" CHAPTER VIII Provisions applicable to mutual aid houses, pawnshops and non-patrimonial legal entities ' 30. In Article 56, paragraph 2 shall read as follows: " (2) Mutual aid houses, pawnshops and legal entities without patrimonial purpose are also applicable to the provisions of the head. I, head. Second section, head. IX and head. X. " 31. After Article 58, a new article is inserted, Article 58 ^ 1, with the following contents: "" Art. 58 58 ^ 1. -Legal entities without patrimonial purpose will be able to carry out the lending activity, in accordance with the legal provisions in force, as well as of this title, in compliance with the following conditions a) registration in the Register of Records held at the National Bank of Romania; b) organization and operation, according to Government Ordinance no. 26/2000 , approved with amendments and additions by Law no. 246/2005 , or, as the case may be, according to the legislation under which they were constituted; c) the lending activity carried out will be limited to that provided in art. 7 7 para. ((1) lit. e ^ 1); d) limitation of funding sources, according to the special legislation governing their activity. " 32. Article 59 shall read as follows: "" Art. 59. -The procedure and requirements regarding the taking into account of the mutual aid houses, pawnshops and legal entities without patrimonial purpose in the Register of Records, as well as the manner of data and information reporting will be established by regulations of the National Bank of Romania, according to the specificity of the activity 33. In Article 60, paragraph 1 shall read as follows: "" Art. 60. --(1) Entities which by their activity are subject to the provisions of this Title, except for the mutual aid houses, pawnshops and legal entities without patrimonial purpose, regardless of the form of organization that a hold at the time of the entry into force of this ordinance, will have to proceed with the change of legal form in the stock trading company and the fulfilment of the general requirements, in order to obtain permission to carry out the activity of credit provided for in this Title. ' 34. in Article 60, after paragraph 2, a new paragraph (3) is inserted, with the following contents: " (3) Legal persons without patrimonial purpose who, on the date of entry into force of the law approving this ordinance, carry out, in addition to credit activities from public funds or made available on the basis of intergovernmental agreements with refundable/non-refundable character, and credit activities from private funds will no longer be able to conclude new credit agreements from private funds, limiting their activity to that provided in art. 7 7 para. ((1) lit. e ^ 1), except under the conditions of reorganization into a commercial company on shares and compliance with the applicable requirements of this Title. " 35. In Article 61, paragraph 5 shall read as follows: " (5) The National Bank of Romania may decide on the extension of the deadline provided in par. (1) in the case of reasonable requests. " 36. in Article 61, after paragraph 5, a new paragraph (6) is inserted, with the following contents: " (6) In the case of legal persons without patrimonial purpose, the term and the procedure regarding the transmission of the declaration provided in (1) will be established by regulations issued by the National Bank of Romania. " 37. In Article 62, after paragraph 1, a new paragraph (1 ^ 1) is inserted, with the following contents: " (1 ^ 1) List of legal entities without patrimonial purpose that fall under the provisions of the law approving this ordinance, including those referred to in art. 60 60 para. (3), will be published by the National Bank of Romania after the completion of the declaration process, in accordance with the provisions of art. 61 61 para. ((6). ' 38. In Article 63, paragraph 1 shall read as follows: "" Art. 63. -(1) Within 6 months from the date of entry into force of this ordinance, entities falling under the provisions of this Title, with the exception of mutual aid houses and pawnshops, shall undertake the necessary measures within the general requirements, with the exception of that relating to the minimum limit of the share capital, and shall carry out the notification formalities provided for in the head. II section 2. The minimum level of regulatory capital will be attained by 31 December 2006 at the latest. " 39. In Article 63, after paragraph 1, a new paragraph (1 ^ 1) is inserted, with the following contents: "" (1 ^ 1) Within 6 months from the date of entry into force of the law approving this ordinance, the legal entities without patrimonial purpose referred to in art. 60 60 para. (3) will undertake the necessary measures to comply with the general requirements and will carry out the notification formalities provided for in the head. II section 2. " 40. In Article 63, paragraph 3 shall read as follows: "(3) The mutual aid houses and pawnshops will carry out the necessary formalities, in accordance with the regulations that will be issued by the National Bank of Romania." 41. In Article 63, after paragraph 3, a new paragraph (3 ^ 1) is inserted, with the following contents: "(3 ^ 1) The legal entities without patrimonial purpose that grant credits exclusively from public funds will carry out the formalities of record-making, in accordance with the regulations that will be issued by the National Bank of Romania." 42. In Article 66, paragraph 2 shall read as follows: " (2) The pawn houses and the mutual aid houses which do not fall within the time limits and requirements laid down in art. 61 61, art. 63 63 para. (4) or in the regulations issued by the National Bank of Romania under the law approving this ordinance will no longer be able to carry out credit activity and will no longer be able to conclude new contracts. " 43. In Article 66, after paragraph 2, a new paragraph (2 ^ 1) is inserted, with the following contents: " (2 ^ 1) Legal persons without patrimonial purpose who, within the deadlines applicable to them, provided in art. 63 63, art. 64 and in the regulations issued by the National Bank of Romania, do not fall within the requirements established by the law approving this ordinance will no longer be able to carry out credit activity and will no longer be able to conclude new contracts. " 44. In Article 66, paragraph 3 shall read as follows: " (3) Contracts through which credit activities provided for in art. 7 7 para. ((1), concluded by the entities referred to in par. ((1), (2) and (2 ^ 1), until the date of entry into force of the law approving this ordinance, shall retain its validity until maturity and may be extended, exclusively in respect of the term of repayment of the credit. " 45. in Article 66, after paragraph 3, a new paragraph (4) is inserted, with the following contents: " (4) Contracts through which credit activities provided for in art. 7 7 para. ((1), concluded by the entities referred to in par. (2 ^ 1), until the date of entry into force of the law approving this ordinance, shall retain its validity until maturity, but may no longer be extended. " 46. Article 67 shall read as follows: "" Art. 67. -(1) The loans obtained through the bond issue, until the date of entry into force of the law approving this ordinance, will be carried out until their maturity. (2) Contracts through which activities are carried out, other than those provided in art. 7 7 and 8, concluded until the date of entry into force of the law approving this ordinance by the entities registered in the lists provided for in art. 62, retains its validity until maturity, but can no longer be extended. " 47. Article 69 (2) shall be repealed. 48. In Article 70, paragraph 3 shall read as follows: "" (3) Separately or within the professional association, non-banking financial institutions will be able to organize a body of their own executors, whose activity will be strictly related to the execution of enforceable securities belonging to them. The status of this body of executors will be approved by order of the Minister of Justice. 49. After Article 75, Title III ^ 1 "Provisions regarding the transformation of some posts for the Senate of Romania", with Article 75 ^ 1, with the following contents: "" TITLE III ^ 1 Provisions on the transformation of some posts for the Romanian Senate Art. 75 ^ 1. -(1) Within the maximum number of posts approved for the year 2006 to the Romanian Senate by State budget law for 2006 no. 379/2005 ,, Annex no. 3/02/08, the number of posts is supplemented, in chapter 5101 "Public authorities and external actions-state budget" item I "People occupying functions of public dignity" subsection. "" Secretaries and Quaestors of the Senate ", with two posts, and at VII "Staff with employment contract" lit. a) "Specialist staff" subsection. "" Expert " with a post. (2) The main authorising officer shall be authorized to introduce the corresponding amendments in the annex to the budget approved to the Romanian Senate, with the opinion of the Ministry of Public Finance and with the classification in the expenses of salaries approved for 2006 50. In section 3 of Part II, Article IV shall read as follows: "" Art. IV. -In section 4 "Regulations on external borrowing contracted by the Ministry of Public Health with the guarantee of the state in order to strengthen, modernize and equip the Coltea Clinical Hospital and restore the Coltea Church" a head. I "Regulations of financial and fiscal operations" of Government Ordinance no. 41/2005 on the regulation of financial measures, published in the Official Gazette of Romania, Part I, no. 677 of 28 July 2005, approved with amendments and additions by Law no. 97/2006 , after Article 6, two new articles, Articles 7 and 8 shall be inserted, with the following contents: "" Art. 7. -(1) The objectives related to the public procurement provided for in 5 5 include: a) restoration of Coltea Church; b) design, consolidation, restoration, modernization and equipping with medical equipment of Coltea Clinical Hospital, located in Bucharest, bd. I.C. Bratianu nr. 1, Sector 3. The costs related to these activities are worth EUR 61,830 million; c) the extension of the Coltea Clinical Hospital by the construction of a new building in the premises of the Emergency Hospital for Children "Grigore Alexandrescu", located in Bucharest, str. Iancu de Hunedoara nr. 30-32, sector 1, with specific Cardiology and Cardiovascular Surgery Center for Children. The costs related to the design, construction and endowment of the Coltea Clinical Hospital extension are worth 32,509 million euros; d) design of functional change, completion of the construction of the current investment objective "Emergency clinical hospital, with 300 beds, in Iasi, Iasi county", according to the provisions Government Decision no. 120/1996 , and its proper endowment in order to establish the Regional Institute of Oncology Iasi. Article 8. -The Ministry of Public Finance and the Ministry of Public Health are authorized to identify sources of financing and to finance, according to the legislation in force, within the amount of 27 million euros, Oncology Iasi ", according to the technical solution provided in art. 7 lit. d). "" 51. In the 13th section of Part II, in Article XVI, point 3, Article 7 shall read as follows: "" Art. 7. -If the amounts are not paid in full and at the deadlines set in the IID Fund, so that the minimum requirements established according to art. 9 to be fulfilled, the late increases calculated for the amounts not paid within, in accordance with the regulations in force in terms of collection of budgetary claims, if the law does not provide otherwise, will constitute claims of the budget local and will be executed according to the legal provisions in force. " 52. After Article XVII of the 13th section of Part II, the 14th section "Repairing within the payment of tax obligations" is inserted, with the following contents: " SECTION 14 Reinstatement of payment facilitations of tax liabilities Art. XVIII. -(1) Debtors who have benefited from facilitations to the payment of obligations due to the state budget, the state social insurance budget, the unemployment insurance budget, the insurance budget for accidents at work and occupational diseases or the budget of the Single National Health Insurance Fund, as the case may be, granted on the basis of the legal regulations in the matter, and which, no later than the 60th day including from the date of publication in the Official Gazette of Romania, Part I, the law approving this ordinance, shall provide proof of extinction, by any means provided by law, the amounts included in the rates, the current tax obligations, with payment terms until the same date, as well as the fulfilment of the other conditions in which the facilitations have been approved benefit from the maintenance of the facilitations for the remaining amounts of payment, starting with the above mentioned date, with all the effects provided by law. (2) For late payment of rates and current obligations by debtors who fall within the provisions of par. (1), the competent fiscal body shall calculate and communicate to them the difference in related accessory tax obligations, as the case may be, which will be paid according to the legal provisions (3) The above provisions shall also apply to debtors for whom they have started or will start, after the date of publication in the Official Gazette of Romania, Part I, of the law approving this ordinance, or continued, as the case may be, the enforcement measures forced, which is continued until the date provided in par. (1), and the amounts obtained from the completed capitals will extinguish the amounts of the enforceable securities for which the forced execution was started, even if the amounts recovered by forced execution are found in the amounts Facilitation. (4) For the remaining amounts of payment of the territorial bodies of the Ministry of Public Finance, competent in the administration of taxpayers, according to the law, at their request, will communicate their remade payment schedules, without exceeding the number of installments initially approved. (5) If the guarantee constituted at the beginning of the granting of payment facilitation was used to extinguish the budgetary claims, a new guarantee will be constituted for the remaining amounts of payment, until the next payment deadline. (6) For debtors who had early extinguished the staggered rates, although deadlines were set by the payment schedule and after the date mentioned in par. ((1), as well as for debtors who have benefited from payment facilitations whose payment terms from the charts have expired until the date of entry into force of the law approving this ordinance or expire until the date mentioned in par. (1), the payment facilitation shall be considered respected, with all the effects provided by law, on the date on which all the conditions were or will be fulfilled, but no later than the date mentioned in par. ((1), including in the event that the guarantees or estrangement of assets were not constituted in the term, it was not carried out under the conditions provided by law. " 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. CHAMBER OF DEPUTIES PRESIDENT BOGDAN OLTEANU SENATE PRESIDENT NICOLAE VACAROIU Bucharest, June 29, 2006. No. 266. __________