ACI Partners: Legal Flash No. 20

ACI Partners: Legal Flash No. 20

• 21.12.2015

This Legal Flash brings you the latest news on amendments of the Law on financial institutions, adoption of new Regulations related to mediation and new Rules of Electric Energy Market.

The Law amends Article 15 of Law on financial institutions. Thus according to the new rule, contribution to the share capital of a company, made in a form of shares of a bank, shall require obtaining prior permission of the National Bank of Moldova. The Minister’s Order has approved the following regulations related to mediation:

a) Regulation on organization and functioning of the Mediation Council;

b) Regulation on of the Mediation Council.

Regulation on organization and functioning of the Mediation Council establishes the legal status and structure of the Mediation Council, the method of organization and conduct of the Council\'s work and termination of membership of the Council. Regulation on selecting through public competition mediators and civil society representatives as members of the Mediation Council establishes the way of conducting a public competition for selecting mediators and civil society representatives as members of the Mediation Council. The National Agency for Energy Regulation approved Rules of Electric Energy Market aiming at the determination legal relationships between participants of Electric Energy Market in Republic of Moldova.

Read the full information in English or Romanian.

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.