ACI Partners: Legal Flash No. 11

ACI Partners: Legal Flash No. 11

• 23.06.2016

This Legal Flash No 11 deals with recent legislative developments related to liberalization of currency operations and creation of information technology parks in Moldova.

The law establishes principles of judicial expertise activity, specifics of performing judicial expertise, procedure for becoming a judicial expert, judicial expert status, forms of organization of the judicial expertise.
According to the law, as a general rule, judicial expertise is performed by judicial expert registered in the state register of judicial experts.

The law establishes, inter alia:

• liberalization of currency operations which were subject to authorization of the National Bank of Moldova especially for licensed banks and entities regulated and supervised by the National Commission of Financial Market, as well as currency operations in the amount of the equivalent of EUR 10,000;
• setting the ceiling of EUR 50,000 (or equivalent) for non notification regime on loans/credits and guarantees received from non-residents;
• widening the categories of loans/foreign loans, on which the notification regime at the National Bank of Moldova shall apply;
• optimizing the use of cash at performing of currency operations;
• allowing exchange units to perform currency exchange operations in cash with individuals via currency exchange apparatus;
• strengthening consumer rights protection - customers of exchange units.

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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.