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 […]
Category Archives: Legal brief
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 […]
Town planning law was amended
Art. 29 of Law no. 350/2001 regarding the town development and town planning was amended by Law no. 221/2011 published in the Official Gazette no. 852/2011 [in Romanian, Lege nr. 221 din 29 noiembrie 2011 pentru modificarea alin. (2) al art. 29 din Legea nr. 350/2001 privind amenajarea teritoriului şi urbanismul]. Law no. 221/2011 provides that the town planning certificate […]
New criteria for VAT purposes registration
Order no. 2795/2011 of the Minister of Public Finance, regulating the criteria for VAT purpose registration, was published in the Official Gazette no. 824 of November 22, 2011 [in Romanian, Ordin nr. 2795 din 10 noiembrie 2011 privind stabilirea criteriilor pentru conditionarea inregistrării in scopuri de TVA]. Order no. 2795/2011 repeals Order no. 1984/2011, provading a new registration procedure and […]
New VAT regulations as of 1st January 2012
Government Decision No. 1135 of 9 November 2011 for the amendment of the Government Decision No. 759/2007 on the rules of eligibility of the incurred expenses within the operations financed by operational programs (published in the Official Gazette no. 849 on the 30of November 2011) (“GD no. 1135/2011“), and the Council Regulation (EU) No 904/2010 of 7 October 2010 on […]
Environment protection rules amended in line with EU law
Law no. 211/2011 regarding waste management was published in the Official Gazette no. 836 of November 25, 2011 [in Romanian, Lege nr. 211 din 15 noiembrie 2011 privind regimul deşeurilor] and it transposes the provisions of Directive 2008/98/EC of the European Parliament and of the Council of November 19, 2008 regarding waste. The most important provisions refer to: the waste […]
New provisions on the credit institutions liquidity requirements
Regulation no. 25/2011 issued by the National Bank of Romania, regarding the credit institutions liquidity requirements [in Romanian, Regulamentul nr. 25 din 8 noiembrie 2011 privind lichiditatea institutiilor de credit] was published in the Official Gazette no. 820 of November 21, 2011 and shall entry into force at January 1, 2012. Regulation no. 25/2011 provides the minimum liquidity level applicable […]
New law for incriminating of the usury activities
The usury activities are prohibited in Romania under the Law no. 216 of 16 November 2011, published in the Official Gazette no. 827 of November 22, 2011, Part I [in Romanian, Legea nr. 216 din 16 noiembrie 2011 privind interzicerea activitatii de camatarie]. According to Law no. 216/2011, the usury practise constitutes a crime which may be punished with 6 […]