LAW OF THE REPUBLIC OF MOLDOVA

of November 23, 2018 No. 259

About introduction of amendments to the Law on savings and loan associations No. 139/2007

The Parliament adopts this organic law.

Art. I. - In the Law on savings and loan associations No. 139/2007 (Official monitor of the Republic of Moldova, 2007, Art. No. 112-116, 506), with subsequent changes, to make the following changes:

1. In article 3 to state the concept "central association" of the following edition:

"the central national association of savings and loan associations (further - the central association) - savings and loan association which founders and members are all savings and loan associations, guided in the activities by this law;".

2. Part (Article 7 to state 2) in the following edition:

"(2) the Association can invest the money which is not used for issue of loans only in bank deposits, government securities and/or fund of liquidity, according to the legislation and the investment policy approved by council.".

3. In Item b) parts (2) Article 8 of the word", on implementation of real estate investments and in other assets" to exclude.

4. In Article 9:

in Item d) parts (words" which member she is" to exclude 1);

part (to add 2) with Item f) the following content:

"f) become the member of the central association.".

5. In Item d) Article 10 of the word "in the capital, securities or derivative financial instruments of cooperatives and the managing societies" to exclude.

6. In Article 12:

in part (2) second offer after words "and/or representation", to add with the words "to the special managing director", and in the fourth offer of the word "or C", shall be replaced with words "or the central association,";

in Item b) parts (3) the words "with the withdrawal provided by part (4) Article 55;" shall be replaced with words "except for persons provided by part (4) Article 50-1 and parts (8) and (9) Article 55;".

7. In part (5) Article 28:

exclude the words "or categories C";

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