New Rules of Arbitration (“Reguli de procedura arbitrala”) of the Court of International Commercial Arbitration attached to the Chamber of Commerce and Industry of Romania were published on January 23, 2012. Among the important amendments is that concerning the procedure for appointing the arbitrators: the parties are no longer allowed to nominate arbitrators, this being under the sole control of […]
Monthly Archives: January, 2012
The framework of origin guarantees for renewable energy (E-SRE)
Government decision no. 1232 of 14 December 2011 for approval the Regulation for issuing and monitoring of the origin guarantees for electricity produced from renewable energy sources (RES-E) (the “Regulation”), was published in the Official Gazette, Part I, no. 4 of 4 January 2012 [in Romanian – “Hotararea nr. 1232 din 14 decembrie 2011 pentru aprobarea Regulamentului de emitere si […]
Amendments to the authorization process in the natural gas field
The Order 52/2011 for amending and supplementing the Regulation for authorization and verification of the economic operators performing design, execution and operation activities in the natural gas field was published in the Official Gazette, Part I, no. 932 of December 29th, 2011 [in Romanian – “Ordinul nr. 52 din 16 decembrie 2011 privind modificarea si completarea Regulamentului pentru autorizarea si […]
Capital market regulations are brought in line with the New Civil Code
With a view of bringing in line the capital market laws with the New Civil Code, Regulation no. 18/2011 for amending and supplementing certain regulations issued by the Romanian National Securities Commission according to Law no. 287/2009 regarding the Civil Code was published in the Official Gazette no. 2 of January 2, 2012 [in Romanian, Regulament nr. 18 din 14 […]
Amendments to the competition regulations
Order no. 897/2011 amending the Instructions regarding the individualization of the sanctions for the contraventions provided by art. 50 and art. 501 of the Competition Law no. 21/1996 was published in the Official Gazette no. 932 of December 29, 2011 [in Romanian, Ordin nr. 897 din 6 decembrie 2011 privind punerea in aplicare a Instructiunilor pentru modificarea Instructiunilor privind individualizarea […]
New rules applicable to the energy market
Order no. 53/2011 issued by the Romanian Energy Regulatory Authority regarding the establishment of the deadline for issuing the offers on the Energy Market for the following day, during the transaction day which is prior to the delivery day, was published in the Official Gazette no. 922 of December 27, 2011 [in Romanian, Ordin nr. 53 din 16 decembrie 2011 […]
Enforcement activity of the credit and non-banking financial institutions
Law no. 287/2011 regarding certain measures for organizing the enforcement activity of the receivables belonging to credit institutions and non-banking financial institutions was published in the Official Gazette no. 894 of December 16, 2011 [in Romanian, Legea nr. 287 din 14 decembrie 2011 privind unele masuri referitoare la organizarea activitatii de punere in executare a creantelor apartinand institutiilor de credit […]
Amendments to the banking legislation
Order no. 26/2011 issued by the National Bank of Romania regarding certain provisions for the application of the banking prudential requirements was published in the Official Gazette no. 903 of December 20, 2011 with a view to implement the International Financial Reporting Standards at individual level [in Romanian, Ordin nr. 26 din 9 decembrie 2011 privind unele dispozitii de aplicare […]
Amendments to the public procurement law
Government Emergency Ordinance no. 34/2006 (“GEO 34/2006”) regarding the award of public procurement contracts, public works concession contracts and services concession contracts was amended by Law no. 279/2011 published in the Official Gazette no. 872 of December 9, 2011 [in Romanian, Legea nr. 279 din 7 decembrie 2011 pentru modificarea si completarea Ordonantei de urgenta a Guvernului nr. 34/2006 privind […]