ACI Partners: Legal Flash No. 9

ACI Partners: Legal Flash No. 9

• 03.07.2015

The Parliament has passed a law on Moldova joining the International Treaty on Genetic Plant Resources for Food and Agriculture, signed in Rome on 3 November 2001.

The objectives of the Treaty are conservation and sustainable usage of genetic plant resources for food and agriculture and fair and equitable sharing of the benefits arising out of their usage, in harmony with the Convention on Biological Diversity, for a sustainable agriculture and food security.

The Parliament approved new amendments to regulations concerning the activity of joint stock companies in Moldova. The following basic amendments may be highlighted:

- The definition and requirements for transactions with conflict of interest have been amended. Thus, transactions of a value up to 1% of company’s assets value have been excluded from conflict of interest scrutiny.

- Joint stock companies are allowed to keep independently their shareholders’ registers, subject to authorization procedure, applicable to independent registers companies as stipulated by the National Commission for Financial Markets.

- Joint stock companies are allowed to hold the General Meeting of Shareholders outside the Republic of Moldova only if a resolution is issued in this respect with the unanimous vote of all shareholders.

- The limitation on holding the annual General Meeting of Shareholders via correspondence has been excluded.

- Joint stock companies with more than 10,000 shareholders are allowed to hold the repeated General Meeting of Shareholders if at least 15% of share capital is represented at such repeated General Meeting.

- The cases when holders of preferential shares are entitled to vote in General Meeting of Shareholders have been extended.

- The term for the state registration of shares issued upon incorporation of a joint stock company has been reduced from 15 days to 5 working days.

Accesaţi aici pentru a citi noutatea în româna şi engleză

ACI Partners

ACI Partners is a dynamically growing Moldovan law firm with an expanding network of partners throughout Europe. ACI Partners was established by separation of the legal business from Ernst & Young Moldova and as such it draws from the latter|s long-acknowledged ability to offer competent advice. ACI Partners’ business strategy is to deliver a solid and reliable service, which the clients may turn to whenever they need. To reach this goal, ACI Partners employs a personalized approach to each client, showing a genuine respect for their values and unqualified commitment to their interests and needs, steadily investing in knowledge and data management and ensuring a working environment consistent with their clients’ quality demands and high expectations.