ACI Partners: Legal Flash No. 9

ACI Partners: Legal Flash No. 9

• 27.05.2016

Law of the Republic of Moldova No 60 dated 7 April 2016 on amending and supplementing certain legislative acts

The Law amends and supplements inter alia Criminal Code of the Republic of Moldova.

The main amendments refer to the following:

Amendment of Criminal code article setting forth liability of legal entities for committing of criminal offenses. Thus, a legal person, except for public authorities will be liable to criminal liability for an offense provided by a criminal law for failure to comply or improper compliance with direct legal obligations or prohibitions to perform a certain activity and there is at least one of the following circumstances:
- The act was committed for the benefit of this legal entity by the person empowered with the legal entity’s administrative functions, which has acted independently or as part of an organ of the legal entity;
- The act was allowed, sanctioned, approved, or used by the person empowered with the legal entity’s administrative functions;
- The act was committed due to lack of supervision and control by the personempowered with the legal entity’s administrative functions. Change the accents in the case of special confiscation of goods transferred to a person who neither knew nor should have known about the origin of goods. Thus, if goods used or intended for committing a crime or those resulting from offenses were transferred to a third party who neither knew nor should have known about
the purpose of using and origin of goods in exchange for a payment their monetary equivalent shall be seized. If the goods were transferred free of charge to a person who neither knew nor should have known about the origin of goods, these shall be seized by the competent authority.

The Law amends and supplements inter alia the Law on the National Bank of Moldova and the Law on National Commission for Financial Market.

The main amendments refer to the following:

Introducing the rule that no public authority or any other third party may approve, suspend, cancel, censor or delay entry into force the acts of a National Bank, nor it may issue opinions ex-ante on acts of the National Bank or can influence otherwise the issuance of the final act of the National Bank; The normative acts issued by the National Bank and the National Commission for Financial Market shall not be subject to legal expertise by the Ministry of Justice
Normative acts adopted by such entities will be sent after adoption to the Ministry of Justice only for registration in the State Register of Legal Acts. By derogation from Article 71 and 72 of the Labour Code, the National Bank will be
able to detach its employees to Unified Central Depository for a period of up to 5 years.

The National Bank, the National Commission for Financial Market, the board members and their staff shall not be liable for civil, administrative or criminal offenses for the acts or fulfilled acts or for failure to fulfill certain acts in the exercise of powers conferred by law, except for cases when the courts state that such acts where committed with bad faith or negligence and such acts were related to the exercise of powers of the National Bank, the National Commission of Financial Market, and caused damages to third parties.

The Regulation on the procedure for examining motions on initiation of state control on site during the moratorium establishes the procedure for submission, receipt and examination of motions on initiation of state control procedure on site and issuance of decision by the Ministry of Economy on the need for performance of these controls during the moratorium.

Government Decision No 546 dated 4 May 2016 on approval of Regulation on the procedure for examining the motions on initiation of state control on  site during the moratorium.

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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.